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Altiplano Metals Inc.

250 Southridge NW, Suite 300

Edmonton, AB

Canada

T6H 4M9

Altiplano Provides Transaction Update

EDMONTON AB, November 9, 2026 - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") wishes to provide 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 US$1,540,000 to Tersus Tierras SpA (the "Transaction") as further detailed in its news releases dated October 4th and October 6th, 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 (the "TSXV"). As a condition to completion of the Transaction, the Company must obtain approval of the Transaction by the Company's shareholders (the "Shareholder Approval"), which may be obtained by either: (i) a majority of the votes cast at a shareholder meeting; or (ii) receipt of the written consent to the Transaction from at least 50% of the Company's shareholders.

As previously announced, the Company has set November 23, 2026 as the date for the annual and special meeting of shareholders (the "Meeting") to approve the Transaction. The record date for shareholders of the Company entitled to vote at the Meeting has been set as October 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 at www.sedarplus.ca.

In parallel to the Meeting, the Company will seek Shareholder Approval of the Transaction by written consent as permitted by TSXV 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.

ON BEHALF OF THE BOARD

/s/ "Alastair McIntyre"

President, CEO and Director

For further information, please contact:

Alastair McIntyre, CEO

alastairm@apnmetals.com

Tel: (416) 434 3799

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the Transaction and conditions to completion, receipt of TSXV approval, receipt of shareholder approval, timing of the Meeting and timing of shareholder approval of the Transaction. Forward-looking information is based on assumptions and is subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise such information except as required by applicable securities laws.