Mr. Alastair McIntyre reports

ALTIPLANO PROVIDES TRANSACTION UPDATE

Altiplano Metals Inc. has provided an update on its previously announced transaction involving the sale its El Penon mill and related land and permits located in Chile for a purchase price of $1.54-million (U.S.) to Tersus Tierras SpA, as further detailed in its news releases dated Oct. 4, 2026, and Oct. 6, 2026. The parties to the transaction continue to work toward closing. In this regard, the company is pleased to announce that it has received conditional approval of the transaction from the TSX Venture Exchange. As a condition to completion of the transaction, the company must obtain approval of the transaction by the company's shareholders, which may be obtained by either: (i) a majority of the votes cast at a shareholders meeting; or (ii) receipt of the written consent to the transaction from at least 50 per cent of the company's shareholders.

As previously announced, the company has set Nov. 23, 2026, as the date for the annual and special meeting of shareholders to approve the transaction. The record date for shareholders of the company entitled to vote at the meeting has been set as Oct. 20, 2026. The company's management information circular and related meeting materials have been sent to company shareholders and are available on the company's profile on SEDAR+. In parallel to the meeting, the company will seek shareholder approval of the transaction by written consent as permitted by TSX-V policy. If shareholder approval of the transaction is received by written consent, approval of the transaction will not proceed at the meeting. The board of directors of the company unanimously recommend that the company's shareholders vote in favour of the transaction.

We seek Safe Harbor.