DGAP-News

Altaley Mining Updates Tahuehueto Mine Pre-production Mill Commissioning and Advises of Change of Control Person

DGAP-News: Altaley Mining Corp Altaley Mining Updates Tahuehueto Mine Pre-production Mill Commissioning and Advises of Change of Control Person 27.06.2022 / 12:00 The issuer is solely responsible for the content of this announcement. Altaley Mining Corporation (TSXV: ATLY) (OTCQX: ATLYF) (FSE: TSGA) (the "Company" or "Altaley") is pleased to update shareholders on the commissioning, pre-production, and construction progress at its Tahuehueto Gold Mine.

The operations team have been diligently resolving various start-up issues related to the water supply pipeline and mill commissioning and, over the past week have successfully achieved ongoing pre-production with the 1^st 500 tpd ball mill. Recently, processing has been stabilized with the mill achieving ore throughput up to 350 tpd and averaging approximately 195 tpd over the past 5 days.

Mill throughput is estimated to remain at current levels over the next two weeks with crushing being handled with a provisional cone crusher while the permanent crushing circuit installation is being finalized and anticipated to be operational within the next two weeks and thereafter the ball mill throughput will be ramped up to capacity.

To date approximately 260 tonnes of bulk concentrated has been produced at Tahuehueto. Two shipments of approximately 30 tonnes each have been shipped to Trafigura for sale. These initial batches of concentrate were produced from low-grade ore on purpose as original feed testing at the ball mill start-up. Revenue received from the 1^st shipment was approximately US$42,000 paid for gold, silver, and lead. The second delivery payment is pending. Another 70 tons of concentrate is in the process of being shipped from Tahuehueto to Tepehuanes subsequently to be trucked and sold to Trafigura in the coming days. The Tahuehueto operations team estimate that there are approximately another 150 tonnes of concentrate available, drying on the mill patio and within the thickeners available to be filtered for drying on the patios.