Altiplano reaches 400-metre level at Santa Beatriz

Executive Summary

• Altiplano Metals extracted 2,270 t of copper‑gold‑iron mineralization from the 425 m level during September and reached the new 400 m mining level in early October.
• The company generated US$256,717 (CAD 360,600) from sales of 128.7 t copper/gold concentrate and 483 t iron concentrate for the July‑September 2025 period.
• Director James Farley retired; the board thanked him for his service on audit and technical committees.

Key Details

• Mining Production (Sept 2025): 2,270 t of copper‑gold‑iron mineralized material extracted from northeast and southwest drifts at the 425 m level.
• Development Progress: Access tunnel opened at 414 m; development reached the 400 m level in early October with a total of 54.32 m of tunnel excavated to date.
• Material Observed: Massive sulphides (chalcopyrite, pyrite), magnetite, and secondary minerals (apatite, actinolite) encountered in the vein.
• Shipments to Processing Plant: 1,910 t shipped to El Penón plant; 360 t remained on‑site at end of September, slated for October shipment.
• Concentrate Sales (Jul‑Sep 2025):
• Copper/gold concentrate: 128.7 t sold for US$222,600 (US$256,717 total revenue).
• Iron concentrate: 483 t sold for US$34,117.
• Revenue Impact: Reported sales represent an improvement over the prior quarter, supporting higher plant throughput and better grade control.
• Executive Comment: CEO Alastair McIntyre highlighted that reaching the lower level enables access to higher‑grade material, multi‑face mining, and increased efficiency at the processing plant.
• Board Change: Director James Farley retired; board expressed appreciation for his contributions to audit and technical committees.

Notable Quotes

“Reaching the lower level of the mine provides us the opportunity to access material with higher grades and begin mining on multiple faces… We are also pleased to see revenues improve from the previous quarter results.” – Alastair McIntyre, President & CEO.