VANCOUVER - Altan Nevada Minerals Limited (TSXV: ANE) ('Altan Nevada' or the 'Company') announces that it has entered into an unsecured loan agreement with Parkwise Corporation Pty Ltd (the 'Lender') pursuant to which the Company may borrow up to A$300,000 (the 'Loan Agreement').

In connection with the execution of the Loan Agreement, the Lender has advanced the Company A$130,000. The Company may, subject to certain conditions being met, draw an additional A$170,000 under the terms of the Loan Agreement.

The Company intends to use the proceeds of the Loan Agreement to repay certain amounts owing to Altan Rio Minerals Limited and as general working capital. The principal amount advanced to the Company under the Loan Agreement, remaining from time to time unpaid and outstanding, bears interest at a rate of 12% per annum, payable monthly in arrears. The principal amount will be repaid in full by July 23, 2023 (the 'Maturity Date').

Subject to the approval of the TSX Venture Exchange (the 'TSXV'), the Company will issue common share purchase warrants to the Lender (the 'Bonus Warrants') in connection with the funds advanced to it under the Loan Agreement, each Bonus Warrant entitling the Lender to acquire one common share of the Company (each a 'Warrant Share') until the Maturity Date. The Bonus Warrants will be issued following the Company completing a share consolidation which results in a Market Price (as defined in the policies of the TSXV) in excess of C$0.05. The Company will make additional applications to TSXV for the approval of any Bonus Warrants issued in connection with the Loan Agreement and will provide further news releases at such times setting out the number of Bonus Warrants issued to the Lender and the exercise price of such Bonus Warrants

Contact:

Paul Stephen

Tel: +61 9322 1788

Email: ps@altnev.com

Cautionary Statement Regarding Forward-Looking Information

Certain statements contained in this press release may constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated', 'proposed' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Such forward-looking information are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. In particular, this release contains forward-looking information relating to the anticipated filing of the Documents. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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