Altan Rio Minerals Limited, (TSXV: AMO) ('Altan Rio Minerals' or the 'Company') is pleased to announce the Company has entered into a Conditional Sale Agreement dated June 26, 2023 to wholly acquire Torque Metals Bullfinch Gold project ('Bullfinch'), located 34km from the Southern Cross township within the Yilgarn Mineral Field, Western Australia and adjacent to the Company's existing tenements.

The Bullfinch tenement area covers 556km2 over five exploration licences and one exploration licence application and has recorded historical production grades of 35.7g/t gold at the Withers prospect. The project is located in the Southern Cross Greenstone Belt which has recorded production in excess of 12Moz Au.

Altan Rio Minerals Chairman on Interim CEO, Graeme Sloan said: The acquisition of Torque Metals' Bullfinch Project will add another piece to our consolidation of the northern portion of the Southern Cross goldfields. Since the start of the year, we have more than quadrupled our tenement holding which is a great achievement by the team.

Previous exploration has identified numerous gold bearing quartz reefs over a 3km strike length at Withers prospect, while the limited historic drilling has returned highly encouraging commercial grade gold results at Rutherfords Find and Reynolds Find. Our next steps post-execution of the Sale Agreement will be field mapping and sampling to evaluate drilling plans initially at priority targets.'

Bullfinch Overview

The project is located on Archaean greenstone lithologies prospective for gold deposits, massive sulphide nickel-copper deposits, iron ore and lithium. Three historic workings - Withers, Reynolds Find and Rutherford Find - are the most advanced exploration prospects on the tenure and all warrant follow up exploration.

In 2022, Torque undertook a shallow RC drilling campaign (21 holes for 1,260m) at Withers.2 While the campaign was intended to investigate gold prospects near a pegmatitic structure, the drilling campaign was relatively shallow and did not reach any gold mineralised body. However, subsequent to the drill program Torque considered that the gold mineralisation extends deeper than 60m (deepest hole) at a depth closer to 120m.

Contact:

Tel: +61 9322 1788

Email: gs@altanrio.com

Cautionary Statement on Forward-Looking Information

This release may contain forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Altan Rio to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. Actual results may differ materially from those currently anticipated in such statements, and Altan Rio undertakes no obligation to update such statements, except as required by law.

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