GMJ – Southern Cross Reignited

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By: Michael Washbourne

Altan Rio Minerals Ltd has unveiled plans to reignite Southern Cross as one of Western Australia’s premier gold production centres.

More than 10 moz has been produced historically from the Southern Cross gold belt, but output has significantly declined over the last 15 years since the once-prolific Sons of Gwalia went into administration.

St Barbara Ltd, then Hanking Gold Pty Ltd and more recently Minjar Gold Ltd have kept the 2.5 mtpa Marvel Loch process plant ticking over, but the amount of available feed has dried up in recent times due to a lack of exploration in the district.

Following some strategic tenement negotiations by chairman John Jones, Altan Rio has now assumed control of the northern half of the Frasers-Corinthian Shear Zone (FCSZ).

Altan Rio’s tenure effectively extends south from the historic Copperhead mine for 28km to the boundary of the Southern Cross township.

“It’s one of those unique situations where you can put a ruler over that 310-degree alignment and every 3-4km there’s some sort of gold mine,” Altan Rio director Paul Stephen told GMJ.

“The southern portion of this FCSZ has had far more work done on it than the northern portion, but the northern portion certainly hosts some very attractive historical and current mines, and the tenure we have goes right up to the boundaries of all of those mines.

“While there has been some work done in and around these areas, there’s actually been very little drilling below a depth of 50m, so we’re really excited about the opportunity to take a closer look at that.”

Up until recently, Altan Rio was focused on copper porphyry exploration in Mongolia. However, with market conditions not favouring any activity by juniors in the country, the TSXV listed company is seeking to JV its ground in the Chadman Yol district and focus solely on Southern Cross.

One of the main drawcards for Altan Rio in Southern Cross is the hungry Marvel Loch plant which has recently been made available for processing of third-party ore by owner Minjar.

“It is very well set-up for toll treatment in that they have a sorting tower that allows you to deliver ore to the mill and have it assayed and sorted so you can efficiently toll treat your feed,” Stephen said.

“That plant is within very economic trucking distance of all of our tenure, so one of our initial targets will be to look for shallow, easily treatable tonnes that we can deliver to Marvel Loch. We can then use that to fund further exploration, specifically exploration underneath the salt lake that has never been looked at before.”

According to Stephen, Altan Rio has 17 drill-ready targets and permits in place for an initial campaign at Southern Cross. One of the first cabs off the rank will be the Aries target which is a northern strike extension of the historic Frasers mine, trending under the Lake Koorkoordine salt lake.

Other drill targets include a possible dip-extension of the Hopes Hill mine which had previously produced 93,000oz at an average grade of 1.8 g/t gold.

“We think the chances of us turning up something on one of these targets, whether it be toll-treatable ounces or whether it be a standalone opportunity, is extremely high,” Stephen said.

“I think, without doubt, the biggest factor here for us is the gold price. The last time people were actively working on this area the gold price was less than $400/oz. Now it’s $2,000/oz and we’ve also got a very available toll milling situation that didn’t exist back then either. ”

Southern Cross

At one point in time, Southern Cross was the fifth largest gold producing belt in WA, but it really hasn’t been properly drilled. So, we think there is an enormous opportunity for people to get involved in one of the premier gold belts in WA that has sat in private hands for the last 13 years.”

Altan Rio Minerals Limited Appoints New Officers and Director

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28 th May 2019 – Vancouver, British Columbia: Altan Rio Minerals Limited (the “Company” or “Altan
Ro”) (TSX-V:AMO) announces that the Company has accepted the resignation of Evan Jones as Chief
Executive Officer. Mr Evan Jones will continue to serve as a non-executive Director of the company. Altan
Rio’s chairman Mr John L C Jones wishes to thank Evan for his service to the Company on behalf of all
shareholders and appreciate his desire to remain a director of the Company moving forward.
As a result of Mr. Jones’ resignation, the Company is pleased to announce that Paul Stephen has been
appointed Chief Executive Officer and Corporate Secretary.
Mr. Stephen has also joined the Company’s board of directors, to hold office until the next annual meeting
of the Company.
Mr Stephen has a Bachelor of Commerce degree from the University of Western Australia and is a
member of the Australian Institute of Company Directors. He has held directorships across both ASX and
London publicly listed companies and has a strong knowledge of operations and compliance across
multiple jurisdictions. Mr Stephen Co-founder and Executive Director of Crusader Resources Ltd oversaw
the discovery, development and operations of the Posse Iron Ore mine in Brazil. In addition Mr Stephen
managed the discovery and delineation of over 2.6 million ounces of gold whilst operating in Brazil
resulting in the company being valued at over $160M. Mr Stephen has extensive operational experience
in mine site servicing and contracting as a founder and Managing Director of Integrated Fuel Services a
West Australian company specialising in providing fuel services to mining and aviation throughout
Western Australia.
About Altan Rio
Over the last six years Altan Rio (TSX.v:AMO) has taken a grassroots approach to exploration that has
generated highly prospective projects that have potential for large-scale copper and gold discoveries in
Mongolia. This company currently valid mining licenses over the “Chandman” project and is in the
process of conducting a technical review to evaluate the best path forward for this project.
FORWARD-LOOKING STATEMENTS
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 Nevada 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
the Company undertakes no obligation to update such statements, except as required by law.

For more information contact:
John L C Jones
Email: [email protected]
+61 9322 1788

Paul Stephen
Email: [email protected]
+61 9322 1788

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

Altan Rio to Commence Drilling at Chandman-Yol Copper-Gold Project and Completes Onon Project Earn-In

company news | Projects : Chandman Yol
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July 10th, 2012 – Vancouver, British Columbia – Altan Rio Minerals Limited, TSX.V: AMO (“Altan Rio” or the “Company”) announces today that a contract has been signed for drilling to commence shortly at the Chandman-Yol copper-gold porphyry project in western Mongolia. Additionally, the Company announces that the earn-in for 90% ownership of one of the Onon epithermal gold tenements in northeastern Mongolia will be completed shortly.

CHANDMAN-YOL HIGHLIGHTS

  • Drilling to begin in mid-July with approximately 3000 m (some 6-8 holes) of diamond core planned
  • Two high-priority, never-before-drilled targets identified through field work completed in 2011 to be drill-tested
  • Ovoot target – copper-gold porphyry intrusion with high amplitude IP chargeability anomaly (35+ msec) and copper staining visible on surface
  • Takhilt target – outcropping copper-gold porphyry intrusion with rock chip values as high as 30 g/t gold and 1+% copper

DEM image of Chandman-Yol project showing 57 km of strike length. Takhilt and Ovoot IP chargeability anomaly drill targets shown in cross-section.

 

New Targets to Be Drill-Tested

The 2010 and 2011 exploration seasons at the Chandman-Yol project produced several new and highly promising targets from a combination of geological mapping, large geochemical survey grids and reconnaissance IP profiles. The two most advanced targets that are ready for drilling are Ovoot and Takhilt.

Ovoot – Discovered by reconnaissance profiling, this high amplitude IP chargeability anomaly (35+ msec), the strongest anomaly identified on the Chandman Project to date, is at/near surface and of substantial size, with dimensions of 2+ km long, 1 km wide, and possibly 500 to 800 m thick. Copper staining is visible in vertical fractures at surface directly above the IP feature,  which provides strong evidence of geochemical leakage from depth.

Not previously drilled, Ovoot represents  a compelling target for potentially large tonnage resources. Two to three first-pass moderately deep (500 to 700 m) drill holes are planned.

Takhilt – An outcropping copper-gold porphyry intrusion with disseminated copper oxide staining named Takhilt was discovered in 2011 by geological mapping in the northern Yol licenses of the project. Follow-up soil geochemical sampling delineated a robust copper soil anomaly about 600 m in diameter. Rock chip sampling locally assayed up to 30 g/t gold and +1% copper. Targeted IP profiles imaged moderate to strong (30+ msec) chargeability responses that extend to about 2 km along strike, and remain open to the east.

Not previously drilled, Takhilt also represents a compelling target for shallow, but potentially large-scale, resources. Up to five 300 to 600 m deep holes are planned this season.

Further information and drill results from the Company’s 2011 drill campaign at the Chandman-Yol project can be found on the Altan Rio website at www.altanrio.com.

 

ONON EARN-IN

The Company is also pleased to announce that the earn-in, representing 90% ownership of one of the three tenements that comprises the Onon epithermal gold project, will be finalized shortly. Altan Rio will complete the final stage of the earn-in by issuing Erdenyn Erel LLC, a private Mongolian company, 240,000 common shares in the capital of Altan Rio (subject to TSX-V approval). The remaining two Onon tenements are already 100%-owned by the Company.

The Onon project, located in northeastern Mongolia, is an early stage gold exploration project where previous work has identified numerous gold and arsenic anomalies associated with epithermal-style mineralization. The three tenements comprise in aggregate an area of 137 km2.

 

About Altan Rio

Altan Rio, founded in 2007, is based in Vancouver BC, Canada. Using innovative exploration targeting techniques and leveraging long-term in-country experience, the company explores large-scale gold and copper projects in Mongolia, one of the world’s most prospective mineral regions. The Company’s license holdings in Mongolia, which total more than 153,310 hectares (378,873 acres), contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.

 

Competent Person Statement

J. Kelly Cluer, Altan Rio’s Exploration Director, and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Chandman-Yol and Onon projects.

 

On behalf of Altan Rio Minerals Limited,

 

“Evan Jones”

 

Evan Jones,

President & CEO

 

For more information please contact:

 

Kelly Earle

Corporate Communications Manager

Altan Rio Minerals Limited

Tel: +1 604 639 5899 ext. 220

Email: [email protected]

Web: www.altanrio.com

 

This press release may contain forward looking statements including those describing Altan Rio’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Rio and its management.

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

Financial Press – From Near Surface to 255 Meters Deep, Altan Rio Strikes Gold in Mongolia

3rd party media | Projects : Khavchuu
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
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For further information on any of the articles, please contact the authors directly.

Financial Press                                                                                   Altan Rio Minerals Limited (AMO)

Written by Nathan Pearson

The most recent assays are in from Altan Rio’s (TSX-V: AMO) 1,900 meter drill program on its 100% owned Khavchuu gold exploration project located in northern Mongolia. Assays have returned down-hole gold and arsenic anomalies intersected over a 4 x 6 kilometer area including a high grade intersection in hole KH-05 at 11.49 g/t gold within Boroo-type host rocks and alteration. Khavchuu covers 714 square kilometers and is part of the world famous Yeroogol Gold Belt of Northern Mongolia.  Altan Rio is riding high on the first results, in a continuous stream of data collected from field programs through to the goal of development of a resource calculation. Altan Rio is focused on expanding the known gold zone on the Khavchuu property and the company is confident that the best is yet to come.

Evan Jones, Altan Rio’s President and CEO, remarked: “I am pleased to share with our investors this discovery of high grade gold mineralization in a Boroo-style geological setting with potential large tonnage possibilities. Our exploration team has successfully demonstrated its ability to target and explore the large Khavchuu gold system, only 10 km from Centerra Gold’s Boroo mine and mill complex. We are encouraged by these results and plan to advance the gold discovery with a focused exploration campaign.”

Altan Rio’s Results

According to the press release issued June 13th, 2012, Jones’ confidence is well-merited. Just 3 months after announcement of the commencement of the first pass drill program at Khavchuu and the company has returned significant assays outlining warranted targets for further drilling.

Table 1: Significant Gold Intercepts

Drilling Highlights at Khavchuu

    • Seven wide-spaced reconnaissance core holes for 1,902.2 m were completed on budget
    • Five of the seven holes intersected significant gold and/or arsenic anomalies, the main geochemical indicators for large-scale orogenic gold deposits in the Boroo region
    • Hole KH-05 intersected high grade gold (11.49 g/t over 1 m) in a structurally complicated area on the edge of a large Boroo complex granite
    • Holes KH-01 and KH-03 intersected low angle structures that contained Boroo complex granite with similar alteration over intervals as broad as 80 meters, with locally anomalous gold
    • Comprehensively the outcome of the first pass reconnaissance drill program was seen very positively as the seven holes drilled where over a large area. Low angle structures where determined, much alike those that are host to mineralization at the nearby Boroo and satellite deposits. The presence of anomalous gold and elevated arsenic is of high promise as it is potentially representative of the distal portions of economic mineralization, perhaps several hundred kilometers away.
    • The high grade gold discovered in KH-05 is of significant pertinence as it represents a single mineralized hole in a very large area of anomalous geochemistry and geophysics with the IP anomaly broadening and increasing in amplitude to the north. This new gold discovery zone is an exciting development, and certainly adds to the prospectivity of the Khavchuu project. Given its strategic location, being in close proximity to Centerra’s Boroo mill complex, follow- up drilling is certainly warranted.

Figure 1: Significant Gold Deposits along the Yeroogol Gold Belt, Northern Mongolia

The Gem of Mongolia: Yeroogol Gold Belt

The Yeroogol Gold belt is an emerging prolific resource district in resource rich Mongolia. Mongolia has seen a boom in resources in recent years and is a stable political jurisdiction for foreign investment in the mining and mining exploration sectors. It’s not just the fact that Mongolia is a dragon’s den of geological wealth, it is directly next to the world’s biggest and fastest-growing market for most minerals, China. Put together Mongolian supply and Chinese demand, and Mongolia will be rich beyond any current forecasts or speculation. The development of two deposits on the Yeroogol belt, the Gatsuurt gold deposit and the Boroo deposit, points to the exploration potential for discovery of a million ounce plus gold deposit for Altan Rio. During his tenure with Cameco Gold, which was later spun out to form Centerra Gold, Altan Rio’s director of exploration Kelly Cluer had a key role in discovering the 2Moz open pit deposit at Gatsuurt. The Boroo deposit has been a production powerhouse on the Yeroogol belt and has produced about 1.5Moz of Au since it opened in 2004 and currently has approximately 9.7M tonnes of proven and probable reserves remaining containing 298,000 oz of gold.


Follow the company’s progress at www.altanrio.com

Altan Rio Intersects High Grade Gold at the Khavchuu Project, Northern Mongolia

company news | Projects : Khavchuu
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June 13th, 2012 – Vancouver, British Columbia – Altan Rio Minerals Limited, TSX.V: AMO (“Altan Rio” or the “Company”) today announces results of the inaugural (Phase 1) drilling campaign at the 100% owned Khavchuu gold exploration project (“Khavchuu”) covering 71.4 km2 in northern Mongolia (Figure 1). These initial results are promising with down-hole gold and arsenic anomalies intersected over a substantial 4 x 6 km area, including a high grade intersection in hole KH-05 at 11.49 g/t gold within Boroo-type host rocks and alteration.

Figure 1. Khavchuu gold project in the Yeroogol Gold Belt of northern Mongolia in relation to other gold deposits in the region

 

HIGHLIGHTS

  • Seven wide-spaced reconnaissance core holes for 1,902.2 m were completed from March to May
  • Five of the seven holes intersected significant gold and/or arsenic anomalies, the main geochemical indicators for orogenic gold deposits in the Boroo region
  • Hole KH-05 intersected high grade gold (11.49 g/t over 1 m) in a structurally complicated area on the edge of a large Boroo Complex granitoid
  • Holes KH-01 and KH-03 intersected low angle structures that contained Boroo complex granitoids with similar alteration over intervals as broad as 80 meters, with locally anomalous gold

Evan Jones, Altan Rio’s President and CEO, remarked: “I am pleased to share with our investors this discovery of high grade gold mineralization in a Boroo-style geological setting with potential large tonnage possibilities. Our exploration team has successfully demonstrated its ability to target and explore the large Khavchuu gold system, only 10 km from Centerra Gold’s Boroo mine and mill complex. We are encouraged by these results and plan to advance the gold discovery with a focused exploration campaign.”

PHASE I DRILL RESULTS

Overall the results were surprisingly positive for a first-pass reconnaissance drill campaign consisting of seven drill holes over such a large area. Low angle structures were identified, similar to those that host mineralization at the nearby Boroo and satellite deposits. The presence of anomalous gold and elevated arsenic is promising as it could represent the distal portions of economic mineralization, perhaps several hundred meters away.

The high grade gold discovered in KH-05 is of particular importance as it represents a single mineralized hole in a very large area of anomalous geochemistry and geophysics with the IP anomaly broadening and increasing in amplitude to the north (see Figure 2). This new gold discovery zone is an exciting development, and certainly adds to the prospectivity of the Khavchuu project. Given its strategic location, being in close proximity to Centerra’s Boroo mill complex, follow-up drilling is certainly warranted.

Table 1. Summary of Khavchuu drill program and gold and arsenic assay results

 

FOLLOW-UP EXPLORATION PLANS

The Company believes the results of our Phase I drill program are very encouraging and is therefore planning follow-up exploration to advance the discovery. Detailed geophysics are planned to delineate zones of higher IP chargeability within the structures confirmed by drilling, with additional soil geochemical surveys planned as well. Drilling will then be targeted to further test zones of known mineralization and the most promising geophysical anomalies.

Figure 2. Khavchuu drill hole locations and results summary on compiled IP chargeability map

 

Stewart Group (part of ALS Minerals), Ulaanbaatar, and Actlabs Asia, Ulaanbaatar, prepared the drill-core samples, produced the sample pulps and performed all gold and arsenic assays. Gold was analyzed by fire assay. Arsenic was analyzed using aqua regia digestion and ICP measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials and blanks, as well as field and pulp duplicates.

About Altan Rio

Altan Rio, founded in 2007, is based in Vancouver BC, Canada. Using innovative exploration targeting techniques and leveraging long-term in-country experience, the company explores large-scale gold and copper projects in Mongolia, one of the world’s most prospective mineral regions. The Company’s license holdings in Mongolia, which total more than 153,310 hectares (378,873 acres), contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.

Competent Person Statement

J. Kelly Cluer, Altan Rio’s Exploration Director, and a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Khavchuu Project.

On behalf of Altan Rio Minerals Limited,

 

“Evan Jones”

 

Evan Jones,

President & CEO

 

 

For more information please contact:

 

Kelly Earle

Corporate Communications Manager

Altan Rio Minerals Limited

Tel: +1 604 639 5899 ext. 220

Email: [email protected]

Web: www.altanrio.com

 

This press release may contain forward looking statements including those describing Altan Rio’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Rio and its management.

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.

Northern Miner – Altan Rio sees potential in Mongolia

3rd party media | Projects : Chandman Yol, Khavchuu
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
READING THIS PAGE IS AT YOUR OWN RISK
For further information on any of the articles, please contact the authors directly.

Altan Rio sees potential in Mongolia

Geologist David Bond exploring Altan Rio Minerals' Chandman-Yol copper-gold project in western Mongolia

Geologist David Bond exploring Altan Rio Minerals’ Chandman-Yol copper-gold project in western Mongolia

BY MATTHEW KEEVIL

VANCOUVER — Having assembled a collection of greenfield copper-gold prospects in Mongolia’s western frontier, Vancouver-based explorer Altan Rio Minerals (AMO-V) is aiming to take the next step forward with a US$2-million drilling campaign in 2012.

Though the company listed publicly in January, as a private company Altan had already spent US$6 million in its 3,800-sq.-km Mongolian land package since establishing it in 2006.

Much of Altan’s management comes from the brain trust of Australian gold-silver producer Troy Resources (TRY-T, TRY-A).

“We’re one of the few groups that really worked things along privately for a while,” explains president and CEO Evan Jones in an interview at Altan’s Vancouver offices. “It started when I stepped out of Troy and we teamed up with Kelly Cluer, our head geologist. The founders put in the initial capital, and we basically backed Kelly to put a portfolio of properties together in Mongolia.”

Cluer, Altan’s director of exploration, worked extensively with Cameco (CCO-T, CCJ-N) prior to the company’s US$872-million divestiture of its precious metal assets in 2009. Cluer continued working with Centerra Gold (CG-T) following its spin-off from Cameco, and spearheaded advanced exploration and feasibility work at Centerra’s Boroo gold mine 110 km northwest of Ulaanbaatar.

Kelly ran exploration for Centerra for ten years in Mongolia before he started with Altan, Jones explains. “It was his team that found Gatsuurt, which is a 2-million-oz. gold deposit 50 km from Boroo.”

Altan’s flagship asset is the Chandman-Yol copper-gold porphyry in Western Mongolia’s Altai mountain range.

Altan Rio owns 100% of four tenements that compose the Yol zone, as well as 100% of five tenements that make up the Chandman zone, subject to a 2.5% net smelter return royalty with Mohammed Al Fayed’s Gallant Minerals.

Geophysical work to date has identified a 60-km-long strike at Chandman, with the most advanced target being the KY porphyry intrusion complex. Altan released some drill results from its 2011 program in March, with holes at KY intersecting elevated metal values, including 0.5% copper and 0.5 gram per tonne gold from 1- to 3-metre core samples. Hole 27 cut 1 metre grading 28 grams gold at a depth of 206 metres.

But four of the five holes aimed at KY’s deeper induced-polarization targets failed to reach required depths.

The camp at Altan Rio Minerals’ Chandman-Yol copper-gold project in Mongolia

 

“Last year unfortunately, the drilling operators let us down and couldn’t get to the depth we wanted,” Jones comments. “We’ll be using different contractors this year. It wasn’t all bad. In drilling down towards these features we got lots of smoke and noise — not the main zones, so no big runs or anything — so we have some geochemistry to go along with the geophysics. In essence, we upgraded the targets for this coming field season.”

Altan is targeting a potential ­sulphide shell in the KY intrusion. Assay results to date have shown gold-copper values increasing with depth, so the company remains optimistic.

Geophysical profiling also identified the Ovoot target at Chandman-Yol, which lies northeast of the KY zone. Altan completed soil-grid surveys and sampling on the site last year, which returned grab samples such as 2% copper.

“We found this 3-km-long feature at Ovoot we think might very well be driven by the same intrusion, which is a compelling structural setting,” Jones says. “It’s become a first-order target for us now.”

Altan anticipates spending US$1.7 million on drilling at Chandman-Yol this year, with a targeting the depth anomalies at KY, as well as testing the new geophysical targets at  Ovoot.

Altan’s second major project is its wholly owned, 71-sq.-km Khavchuu gold property 10 km west of Centerra’s Boroo mill complex. Surface sampling identified gold and arsenic anomalies coincident with geophysical anomalies.

“We kept an eye on this project since Kelly was with Centerra,” Jones explains. “The underlying land ownership changed, and we happened to pick it up. He believes it’s the best untested gold target in the district. Our drilling is the first ever undertaken on the property.”

The company is completing a six-hole, 1,800-metre inaugural drill program at Khavchuu, with results expected soon.

Altan has 45.5 million shares outstanding following a US$1-million qualifying transaction with Macquarie Capital. Altan’s founders — including Troy company-builder John L.C. Jones — own 40% of its outstanding shares, with institutional investors in London also on board.

The company is looking to raise US$2 million to US$3 million this year to get active.

“I think we’ll get great support from our original shareholders, and we would like to increase our exposure to Canadian markets and get them more involved in the story,” Jones comments. “Mongolia is vastly underexplored and proven to host world-class deposits.”

 

© 1915 – 2012 The Northern Miner. All Rights Reserved.

Financial Press – Altan Rio: A Canadian Gold Junior Worth Watching

3rd party media | Projects : Chandman Yol, Khavchuu
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
READING THIS PAGE IS AT YOUR OWN RISK
For further information on any of the articles, please contact the authors directly.

Financial Press                                                                                   Altan Rio Minerals Limited (AMO)

Written by Nathan Pearson

With the global economy set to limp its way through 2012, gold prices continue to soar toward a record high, while Vancouver-based junior Altan Rio [TSX-V: AMO] forges ahead with a fast-paced drill campaign set against the backdrop of mineral-rich Mongolia.

Founded in 2006 and having become listed just this past January, Altan Rio is a well-financed company housing top mining talent. To date, Altan Rio has invested over US$6 million assembling and exploring highly prospective precious metal and copper projects, which encompass three projects spanning more than 153,310 hectares.

Mongolia— the most sparsely populated country on Earth—is a great place for a Canadian junior like Altan Rio to go exploring. It’s one of the world’s most prospective mineral regions, with most of the country having yet to be introduced to modern exploration methods. The country enjoys a stable government and the International Monetary Fund estimates that Mongolia’s GDP has the potential to grow up to ten percent this year, in part by ever-increasing gold prices. Altan Rio is poised to cash-in on Mongolia’s offerings with its two primary focus properties: Chandman-Yol and Khavchuu.

In an effort to investigate and understand the advantages of mineral exploration in Mongolia at the Chandman-Yol and Khavchuu projects, Financial Press conducted an interview with Altan Rio’s Director of Exploration, Kelly Cluer.

Q) Financial Press: How is Mongolia to operate an exploration company comparative to other foreign jurisdictions?

A) Kelly Cluer: Mongolia is a very safe and friendly country to work in. It’s very important to work with the locals and we have a very experienced Mongolian national team and an office in Ulaanbaatar. We are also pleased that we now have over 15% Mongolian shareholders and have even raised money with brokers in Mongolia.

Of course there are always a few snags along the way, like with any exploration in a developing country, but overall Altan Rio has found working in Mongolia to be a very positive experience. One of the key aspects of Mongolia is the Buddhist culture that is always just beneath the surface – virtually no overt violence, making it a very safe place to live and work. It really is a beautiful country with extremely friendly and welcoming people.

Q) Financial Press: What sets Altan Rio apart from other venture listed gold juniors? (What is the company’s recipe for success)?

A) Kelly Cluer: Our portfolio of projects and experienced management and first-rate Mongolian national team really sets us apart from other juniors.

Our Chandman-Yol project is over 1,400 km2, an entire mountain range, where we have seven key copper-gold targets so far and are finding more each field season. Our drill program in 2011 at the KY porphyry intrusion picked up some decent grades above the target zone and we are keen to test deeper into the intrusion in 2012. Shallower targets, some even outcropping at surface, will also be the focus of the 2012 program.

Chandman-Yol isn’t your typical junior company project. We really have an opportunity to discover a large copper-gold porphyry system with huge tonnage potential.

Khavchuu is another project we are very excited about. It lies only 10 km west from Centerra Gold’s Boroo mine and mill complex. The project is 71 km2 and recent work has shown strong gold and arsenic anomalies in rock and soil samples and IP-resistivity anomalies on par with the Boroo deposit. We just started the first ever drill campaign on the project and are excited to see the results.

Secondly, our management and Mongolian National team sets us apart. Our Chairman, John Jones is a prominent player in the international mining sector with over 40 years of experience. His involvement in four companies has led to the discovery of four deposits and the development of eight mines. John brings a lot of experience to the table.

We also have an experienced Mongolian National staff of six seasoned geologists with over 30 years of combined experience. We have a great team and a very exciting portfolio of projects.

Q) Financial Press: Are there any other success stories in Mongolia that relate to Altan Rio?  If so, was management from Altan responsible directly or indirectly?

A) Kelly Cluer: Yes, I was involved in the team discovery of Gatsuurt in 1998, which is located east of the Boroo mine. The deposit is currently a 2 Moz open-pit resource which grades about 2.6 g/t gold. It was an excellent example of international teamwork pulling off a grass-roots discovery in the early days of Mongolia’s first western explorers.

I have been working in Mongolia for over 14 years, and while with Centerra Gold, I assisted with the pre-production drill-out and mine modeling of the Boroo deposit and with their successful IPO in 2004. Altan Rio has quite a bit of experience in Mongolia that quickly led us to the key projects we have today, and augments our ability to operate effectively in the country, having already learned the “what not to dos”.

Q) Financial Press: When can investors expect assay results back from the current 1,800 metres of drilling at the Khavchuu prospect? Is there a timetable of events the market will want to pay close attention too?

A) Kelly Cluer: Drilling is still underway at our Khavchuu project and is expected to wrap up in early May. Initial assay results are anticipated within the next few weeks. We hope to have news out within the next month.

The summer exploration and drilling season at Chandman-Yol will start up in late May. We are likely to begin drilling our near surface targets first and then return to test the deeper targets at the KY porphyry intrusion.

Overall it will be quite a busy field season for Altan Rio on both the Khavchuu and Chandman-Yol projects. Watch for news throughout the summer and into the fall.

 

Chandman-Yol

Located in the Altai mountain range near Khovd and 1,050 km west of the capital Ulaanbaatar, sits Altan Rio’s 140,174 hectare Chandman-Yol property. The property consists of nine tenements 100% owned by Altan Rio, with five of these subject to a 2.5% NSR (net smelter royalty).

Previous drilling campaigns completed on the property during 2009/2010 yielded three out of seventeen diamond drill holes showing sizable gold-copper mineralization with intersections of 32.13 m at 1.49 g/t gold, 0.60% copper and 8.07 g/t silver, including 10.39 m averaging 2.71 g/t gold, 0.91% copper and 12.11 g/t silver as well as 10.75 m at 1 g/t gold, 0.65% copper and 4.8 g/t silver.

The most recent thirteen-hole drill program on the property revealed strong molybdenum anomalies, an exciting gold grade of 28 g/t over 1 m, and silver intersections of 13.2 m at 43.12 g/t including 1 m at 106.31 g/t and 1 m at 118.86 g/t, as well as
39.6 m at 24.57 g/t including 2.5 m at 128.3 g/t and 2.2 m at 114.26 g/t.

Timeline-wise, 2012 sees Altan Rio drilling even deeper on last year’s KY porphyry target and within four newly discovered shallower zones on the Chandman-Yol property.

 

Khavchuu

Altan Rio’s 7,140 hectare Khavchuu gold project is located in Tov Aimag in northern Mongolia, just 10 km from the Centerra Gold Boroo mill complex and 15 km north of the Narantolgoi underground gold mines, enjoying easy access year-round. The property contains significant geophysical and gold-arsenic geochemical anomalies in an orogenic gold setting similar to that of the Boroo mine, pointing to the potential for a success story similar to that of the Boroo mine. To date, Altan Rio has taken over 1,200 samples on the property, showing robust arsenic anomalies as well as a small zone of quartz veining revealing visible gold. Until now the property has never been drilled, but March 5th saw the company announcing the commencement of a six hole, 1,800 m drill program that will be completed in early May.

 

An Economic Climate In Favour Of Gold

The price of gold has tripled over the last five years with 2011 seeing record nominal highs, but will it hit the inflation-adjusted high of $2,500 in the not-too-distant future? The euro zone debt crisis, a seemingly immobile US unemployment rate, geopolitical turmoil spanning the Middle East, debt monetization and competitive currency devaluations are contributing to a mood of uncertainty for investors who continue to choose to hedge their funds in the gold market. Many investors feel that this strategy will pay off as it did in 2011, and will continue to protect their wealth during further economic volatility in the years to come. This is great news for Altan Rio, whose stage is set for a promising 2012.

 

Management

Altan Rio’s skilled team is led by President and CEO Evan Jones. In addition to his current role, Mr. Jones serves as President, CEO and Director of Altan Nevada Minerals Limited and is the former Commercial Manager of Troy Resources Brasil Participacoes Ltd. and Executive Advisor with Westchester Corporate Finance. Mr. Jones is backed by John LC Jones, Chairman; J. Kelly Cluer, Director of Exploration; Robert Scott, CFO; Murray Seitz, Director; and Paul O’Brien, Director.

As of May 1st Altan Rio’s market capitalization is $18.2 million and shares can be purchased for $0.40.

 

Follow Altan Rio’s story at www.altanrio.com.

Financial Press – Altan Rio’s Chandman-Yol and Khavchuu Projects Highlighted

3rd party media | Projects : Chandman Yol, Khavchuu
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
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Financial Press                                                                                   Altan Rio Minerals Limited (AMO)

Written by Andrew Mickey

Headline: Altan Rio Completes Drilling Program in Mongolia with Strong Results and Announces the Commencement of Drilling at Khavchuu Project

Subhead: Altan Rio Hits High-Grade Mineralization and Now Drilling Deeper into Mongolian Copper-Gold Project

Vancouver, March 27 (Financial Press) – Canada-based exploration company Altan Rio Minerals Limited (TSX Venture: AMO) is moving quickly beyond early exploration stages as it advances its copper and gold projects located in resource-rich regions of Mongolia.

The company’s properties are all located in Mongolia with its primary focus being the Chandman-Yol copper-gold project located in the highly prospective Altai mountain range near Khovd in western Mongolia and the Khavchuu gold project, located in northern Mongolia and only 14 km from the Centerra Gold Boroo mill complex. Both projects are advancing quickly, the company recently announced results from a 2011 drill program at Chandman, the commencement of drilling at Khavchuu, and further drilling planned at Chandman for 2012.

Chandman-Yol, the company’s 1400 km2, previously undrilled, flagship property spans nine 100%-owned licences, five of which are subject to a 2.5% net smelter royalty (NSR) payable to a third party.

The company spent $6M over the past four years. Work included geophysics, geochemistry and IP surveys which resulted in the identification of 7 target areas (see map below). To date, drilling has been focussed at the KY copper-gold porphyry.

(Source: Altan Rio Website – Chandman-Yol Project Showing all 7 Target Areas)

On March 2, 2012, Altan Rio announced results from a 13-hole, 7800 m drill program at the Chandman-Yol project targeting copper-gold anomalies from IP features and laid out the company’s drill targets for 2012.

In the announcement, dated March 2nd, 2012, the company stated that it had found “strong molybdenum anomalies (100 ppm) in the northwestern sector, high grade gold (28 g/t) in the northeastern sector, and unusually high silver (100+ g/t), lead (>10,000 ppm) and zinc (>10,000 ppm) grades in the southeastern sector.” Elevated copper occurs throughout the large 2 km diameter porphyry intrusive system with sporadic drill intersections over 1% copper.

Those anomalies are indicated on the map below:


(Source: Altan Rio March, 2012 Press Release – IP chargeability)

The company was disappointed that their drill contractor was not able to get many of the holes to depth to test the targeted IP features (see above) although  mineralization identified above these features has significantly upgraded the targets.

Results included the following silver intercepts:

13.2 m (97.0 to 110.2 m) @ 43.12 g/t including 1 m @ 106.31 g/t and 1 m @ 118.86 g/t

39.6 m (185.0 to 224.6 m) @ 24.57 g/t including 2.5 m @ 128.3 g/t and 2.2 m @ 114.26 g/t

The highlighted intercepts consisted mainly of silver with the more disseminated copper found in the same holes being indicative of the porphyries found in this region of Mongolia.

This round of drilling for the copper-gold porphyry on the Chandman-Yol project, however, is just the start of Altan Rio’s efforts in 2012. The company has combined its past geological mapping, extensive geochemical surveying, and other elements of geological reconnaissance on the Mongolian project to identify at least four new zones and intrusions.

Those additional zones, which are dispersed over a strike length of over 50 km, have also been targeted and Altan Rio is planning on drilling deeper in its next drilling campaign at Chandman in order to test the strong IP features deeper within the porphyry (see cross section below).

(Source: Altan Rio March, 2012 Press Release – KY Porphyry Cross Section Showing Deep Chargeability Drill Target)

In other news, on March 5th, Altan Rio announced the commencement of a six hole, 1800 m drill program at the Khavchuu gold project.

Altan Rio has the option to acquire 100% ownership of the 17,000 acre Khavchuu project which has multiple gold targets across the property. The project is located near infrastructure, only 8 km away from Centerra Gold’s (TSX: CG) Boroo mine and mill complex. The project has never been drilled, and Altan Rio is keen to see the first holes into this project with Boroo mine style geology.

Kelly Cluer, the company’s Director of Exploration is very experienced in the region, having worked previously as Exploration Manager for Centerra. He believes that Altan Rio’s geochemical surveys and the geological setting show it as prospective for a “Boroo-style orogenic lode gold system.” This type of project has significant quartz-sericite-sulfide alteration zones and also strong and distinct Induced Polarization (IP) anomalies.

Altan Rio has taken more than 1200 samples on the project and used them to focus in on the better results of the IP survey to identify and prioritise drill targets.

Although the company is a relatively new listing, having become quoted on the TSX Venture in January 2012, it is worth noting that Altan Rio was founded in 2007 and was well financed to actively explore through the financial crisis. The company is now in a rather unique position of being able to move quickly to drilling on several targets across two projects.

The company was founded by John Jones, prominent player in the Australian mining sector, Evan Jones and Kelly Cluer. The company is approximately 40% owned by its founders with Mongolian domiciles significantly holding more than 15% of Altan Rio’s issued capital.

Altan Rio has a total market capitalization of approximately $22 million.

Learn more at www.altanrio.com.

View the article on the Financial Press website – click here.

Resource World – Altan Rio and Altan Nevada target Mongolia and Nevada

3rd party media | Projects : Chandman Yol, Khavchuu
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The article you are about to read reflects the opinions of the original authors of those articles and reports. Please note that such articles or reports do not necessarily represent the opinions of Altan Nevada and Altan Nevada accepts no responsibility for these opinions. In addition, such articles and reports may contain links to internet websites of third parties and Altan Nevada is not responsible for the content, accuracy or timeliness of such websites.
READING THIS PAGE IS AT YOUR OWN RISK
For further information on any of the articles, please contact the authors directly.

Resource World – MARCH 2012

by Jennifer S. Getsinger, PhD, PGeo

The company, Altan Rio, established in 2006, explored for precious metal and copper in Mongolia and gold in Nevada. Working with excellent geological and geophysical research, so far, they have identified several promising projects in both places. According to President and CEO, Evan Jones, interviewed by Resource World in Altan’s Vancouver office, Altan recently went public, joining with CPCs (capital pool companies) to form two new entities, Altan Rio Minerals Ltd. [AMO-TSXV] and Altan Nevada Minerals Ltd. [ANE-TSXV].

The two Altan companies share top-level management and technical teams, including a well-known Australian mining family, Evan C.C. Jones and his father, John L.C. Jones, Chairman, with a successful history that includes four discoveries and eight mines developed. John L.C. Jones was formerly chairman of Troy Resources during development from a junior exploration company to a gold producer. Altan Rio’s Director of Exploration, J. Kelly Cluer, helped discover Centerra’s Boroo Gold Mine in northern Mongolia before guiding Altan Rio to the nearby prospect of Khavchuu.

In Mongolian, the word Altan means golden. Three golden prospects from east to west are the Onon, the Khavchuu, and the Chandman-Yol projects. The Onon Project shows promise with geochemical anomalies in an epithermal gold-arsenic-silver dominated system in jasperoidal sedimentary rocks, with associated antimony, mercury, copper, tellurium, and thallium. However, results from Altan Rio’s modest 2011 drill program are, so far, unimpressive, so Onon has been placed on the back burner.

Altan Rio’s Director of Exploration, Kelly Cluer, worked at the Boroo Mine of Centerra in a well-known area of northern Mongolia, and now offers invaluable expertise to the nearby Khavchuu Project, believed to be a similar type of lode gold (+arsenic) deposit. Lower Paleozoic metasedimentary rocks host quartz-sericite-sulphides, mainly pyrite and arsenopyrite mineralization and visible gold. An exploration program is planned for 2012 that includes geological, geochemical, and geophysical studies.

The most exciting area in Altan Rio’s Mongolian holdings is the Chandman-Yol property, encompassing an entire mountain range, virtually unexplored by modern methods. Chandman means buried treasure, and Altan Rio has exclusive license to look for it in 1,402 km2 (346,441 acres). They have identified seven significant zones of interest along the 50-km range. Still in early days of exploration, what is known as the KY intrusive system (granodiorite) porphyry, copper-gold target, in known geochemical anomalies is at least as big as Utah’s Bingham pit, some 4 km across. North of the main KY porphyry intrusion, geological and geophysical surveys (especially IP) show promising prospects such as the Ovoot chargeability anomaly; an epizonal pluton with copper-gold mineralization; and the Takhilt copper-gold skarns. To the southeast, lies the Bumbat North (gold anomaly) and Bumbat (copper anomaly), and the Tana high-grade gold veins.

Some of Altan Rio’s half-dozen Mongolian geologists have also contributed to the exploration programs of Altan Nevada where they have eight properties, 100%-controlled, making the company one of the top 20 mineral land holders in the state. Two projects are in the Carlin trend gold belt, two on either side of Barrick’s Round Mountain Gold Mine, and the rest in the Yerington District near Reno with gold-copper prospects.

Altan Nevada is concentrating on the two properties closest to Round Mountain: Radar and Black Top, large epithermal gold deposit types of 16.5 and 36.6 km2 respectively. Radar is a high-sulphidation, epithermal, gold target adjacent to the Paradise Peak Mine, which produced 1.6 million ounces of gold, and has a good mill in operating condition. Recent work shows high-temperature, stockwork-style (network of veins) gold mineralization with values such as 0.63 ppm gold, 0.53 ppm silver, 0.31 ppm mercury, and 221 ppm molybdenum (same as g/t).

Geophysical studies suggest sulphides and silicification; five high-priority drill holes are underway with results expected soon. The Black Top property consists of a major Miocene epithermal, gold system in the southeastern Round Mountain corridor, with anomalies covering 3 km by 7 km, and results up to 0.73 ppm gold, 10.3 ppm silver, 2500 ppm arsenic, and <1,000 ppm mercury. Altan Nevada believes the bulk of the ore body (on a similar scale to the Round Mountain pit) lies southeast of mineralized outcrop samples and down-gradient on carbonate basement as indicated by geophysical studies.

Altan Rio and Altan Nevada got a head start as they were well-funded, privately, in the early days when other companies were struggling. Cash on hand at year-end 2011 was $1.6 million.

Altan Rio Begins First-pass Drilling Program at the Khavchuu Gold Project, Northern Mongolia

company news | Projects : Chandman Yol, Khavchuu
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Vancouver, British Columbia – Altan Rio Minerals Limited, TSX.V: AMO (“Altan Rio” or the “Company”) today announces the initiation of the first drilling campaign at the Khavchuu gold exploration project  (“Khavchuu”), which the Company currently has an option to acquire 100% interest in, covering 71.4 km2 in Tov Aimag, northern Mongolia. The project contains significant geophysical and gold-arsenic geochemical anomalies in a Boroo mine type orogenic gold setting and has never been drilled.  The planned reconnaissance drilling is designed to test a large tract of geology over an area of approximately 5 x 6 km, searching for key structural features such as low-angle fault zones.  Six holes encompassing 1,800 meters of diamond core drilling are planned.

Khavchuu project location

 GEOLOGY

The general geological setting at Khavchuu is very similar to Boroo and surrounding deposits such as Ulaan Bulag. This geology is characterized by large areas of Kharaa formation units (siltstone, sandstone, argillite) of probable Middle Cambrian to Early Ordovician age, intruded by Middle-Late Ordovician Boroo Complex granitoids and later probable Devonian units.

Economic gold mineralization in the district is dominated by large tonnage quartz-sericite-sulfide (pyrite, arsenian pyrite and arsenopyrite dominate) alteration zones, commonly known as “QSP”, in granitoids. The QSP alteration is readily imaged by IP surveys which show chargeability highs, and magnetic surveys which show coincident moderate low zones (magnetite destruction). Where bodies are exposed geochemistry shows robust gold and arsenic anomalies; where covered the anomalies become very subtle.

RECENT WORK

Altan Rio performed rock sampling and detailed soil geochemical grids (~1,200 samples) in 2011 in the northwestern quarter of the project. This work showed robust arsenic anomalies coincident with IP chargeability highs, over several NW oriented structures. Low-level gold anomalies were also present.  This combination – coincident gold, arsenic and IP highs – is fundamental to all economic deposits discovered thus far in the Boroogol District.  During sampling, the team also discovered a small zone of quartz veining hosting visible gold.

Figure 1. Location of the Khavchuu license and geochemical anomalies, showing other important gold mines in the Boroogol district. Note location of Boroo gold mine, approximately 12 km to east.

 

THE TARGETS

Three main areas will be drilled in our first effort to gain knowledge of the subsurface stratigraphy and structure:

A – Target area A in the northwest part of the project has recently been investigated by a large soil geochemical grid, producing Au and As soil anomalies coincident with IP chargeability of  both prospective amplitude and promising size, therefore achieving a first-priority target status.  Near-vertical quartz veins in the area locally host visible gold and a gently east-dipping low-angle fault zone has been mapped in the vicinity, which projects at depth into the IP chargeability anomaly.  Rock samples in the area reach 0.11 ppm Au and 842 ppm As.  Two holes are planned for about 600 m of drilling.

B – Target area B in the northeast quarter, another prospective IP feature, has been rock chip sampled where strong sericite alteration exists along a high-angle structural fabric.  The objective is to track the high-angle fabric down structure to a possible intersection with a near-horizontal fault zone.  Rock samples in the area reach 0.15 ppm Au and 177 ppm As.  Two holes are planned for about 600 m of drilling.

C – Target area C in the south part of the project appears similar geologically to target area A, also hosting gold-bearing quartz veins, and represents a very prospective IP feature in a Boroo complex granitoid – which has proven thus far to be the preferred host unit for large gold deposits in the district.  A north-dipping near–horizontal structure has been mapped just south of the area, and therefore projects at depth into the IP feature.  Rock samples in the area reach 0.14 ppm Au and 564 ppm As.  Two holes are planned for about 600 m of drilling.

Drilling is scheduled to begin in early March with two diamond core drills, and be finished in approximately one month.

Figure 2. Geophysical compilation map showing IP chargeability anomalies at Khavchuu. Area of 2011 soil grid survey shown in dashed outline. Inset shows relevant IP anomalies over the main open pits at the Boroo mine, to scale.

ABOUT ALTAN RIO

Altan Rio, founded in 2007, is based in Vancouver BC, Canada. The company explores large-scale gold and copper projects in one of the world’s most prospective mineral regions: Mongolia. The Company’s license holdings in Mongolia, which total more than 153,310 hectares (378,873 acres), contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.

Competent Person Statement

J. Kelly Cluer, a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Chandman-Yol Project.

On behalf of Altan Rio Minerals Limited,

 “Evan Jones”

Evan Jones,
President & CEO

For more information please contact:

Kelly Earle
Corporate Communications Manager
Tel: +1 604 639 5899 ext. 220
Email: [email protected]
Web: www.altanrio.com

 This press release may contain forward looking statements including those describing Altan Rio’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Rio and its management.

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.

Altan Rio Announces Chandman Copper-Gold Project 2011 Drill Results and 2012 Exploration Plans

company news | Projects : Chandman Yol
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March 2nd, 2012 – Vancouver, British Columbia – Altan Rio Minerals Limited, TSX.V: AMO  (“Altan Rio” or the “Company”) has received preliminary assay results from the 2011 drill campaign at the KY porphyry intrusion and adjacent targets at the Chandman copper-gold Project (“Chandman”), part of the combined Chandman-Yol regional exploration Project (100%) (“Chandman-Yol”), located in Khovd Aimag, western Mongolia.

These new holes encompassed a wide-spaced reconnaissance drilling program targeting several broad zones of copper-gold geochemical anomalies and deeper IP chargeability anomalies over an area of 4.5 x 2.5 km.  Drilling comprised 13 holes for 7,814 m.

 

 

HIGHLIGHTS

  • Drilling shows that the KY porphyry intrusion is a zoned metal system, with strong molybdenum anomalies (100 ppm) in the northwestern sector, high grade gold (28 g/t) in the northeastern sector, and unusually high silver (100+ g/t), lead (>10,000 ppm) and zinc (>10,000 ppm) grades in the southeastern sector. Elevated copper occurs throughout
  • All holes drilled into the KY porphyry intrusion intersected elevated metal values, with frequent 0.5% copper and 0.5 g/t gold from 1 to 3 m core samples, in quartz-sericite-sulfide alteration of variable intensity. Drill-indicated mineralization spans an area of 2.8 x 2 km
  • Highest grade gold intersection achieved to date in drill hole CH-27, which returned 1m at 28.02 g/t gold at a depth of 206 m in the KY porphyry intrusive complex with visible gold in xenoliths of the deeper, early stage intrusive
  • Longest intersection of copper mineralization achieved in CH-18, which returned 105.6 m (from 42.9 to 148.5 m) at 0.12% copper from an IP anomaly in the Khuush zone
  • Five of the drill holes were aimed at deep large and high-amplitude IP features in the KY porphyry intrusion and assay results show that metals including gold and copper are generally increasing with depth. However only one of the holes reached target depth, which means the IP features essentially remain untested. The deep IP targets were essentially upgraded with the 2011 drill results
  • Significantly, CH-28 in the southeastern endoskarn area returned the following silver intersections:
    • 13.2 m (97.0 to 110.2 m) @ 43.12 g/t including 1 m @ 106.31 g/t and 1 m @ 118.86 g/t
    • 39.6 m (185.0 to 224.6 m) @ 24.57 g/t including 2.5 m @ 128.3 g/t and 2.2 m @ 114.26 g/t

Other silver, lead and zinc grades are being checked to determine over-limit values and will be fully reported when verified.

Figure 1. Photo of core from CH-18 @ 511 m (0.8% Cu), showing chalcopyrite veins with a carbonate and kspar stockwork zone in metavolcanics. Figure 2. Core running about 119 g/t Ag from CH-28: @ 108 m, showing intense kspar alteration with silica and finely disseminated base-metal sulfides (strong QSP alteration) h 2011 deeper drill holes and 2009-2010 shallow drill holes identified.

Figure 3. Drill hole location map on deep IP anomalies of the KY porphyry intrusion at the Chandman copper-gold Project in western Mongolia with 2011 deeper drill holes and 2009-2010 shallow drill holes identified.

 

NEW TARGETS & 2012 EXPLORATION PLANS

The 2011 exploration season produced several new, near surface drill targets from a combination of geological mapping, large geochemical survey grids and reconnaissance IP profiles. New targets include:

Ovoot – The high amplitude IP anomaly (35+ msec) at the Ovoot target, the strongest identified on the Chandman Project to date, is an exciting target with substantial dimensions of 2+ km long, 1 km wide, and possibly 500-800 m thickness. While the anomaly is largely concealed by a low angle fault, weak copper staining in vertical fractures is visible above the anomaly. The anomaly is approximately 4 km north of the KY porphyry intrusion, and may in fact be structurally connected with it. The zone has never been drilled and is a compelling target for potentially very large tonnage resources, with testing planned in 2012.

Takhilt – A new outcropping copper-gold porphyry biotite granite intrusion with disseminated copper oxide staining named Takhilt was discovered in the northern Yol licenses about 15 km north of the KY copper-gold porphyry intrusive complex. Follow-up soil geochemical and geophysical surveys delineated a robust copper soil anomaly about 600 m in diameter, with a moderate to high amplitude IP chargeability feature at depth. Rock chip sampling locally showed up to 30 g/t gold assays and 1%+ copper assays. The zone, which has never been drilled, is a compelling target for shallow resources and will be a priority target in 2012.

KY Porphyry Intrusion – The KY porphyry intrusion is under-explored and contains multiple large tonnage copper-gold target zones.  The 2011 drilling campaign shows that strong alteration with highly anomalous geochemistry occurs above deeper, high-amplitude IP targets that remain to be drill tested, and this is planned for 2012 (see Figure 4).

Khuush Zone – Long runs of low grade copper mineralization shows that Khuush has significant tonnage potential.  The zone is open in all directions and warrants further follow-up exploration and targeted drilling to identify higher grades.
For complete drill results, location maps, cross sections and core photographs, please visit the Company’s website at www.altanrio.com.

Stewart Group (part of ALS) prepared the drill-core samples, produced the sample pulps and performed all copper, silver and gold assays pertaining to the drill-core samples highlighted in the text and table above. Gold was analyzed by fire assay.Copper and silver were analyzed using aqua regia digestion and ICP measurement. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field and pulp duplicates.

Ownership Update

Altan Rio is pleased to report that the Company has now assumed 100% ownership of the 9 Chandman-Yol tenements subject to a 2.5% Net Smelter Royalty on the 5 Chandman tenements.

About Altan Rio

Altan Rio, founded in 2007, is based in Vancouver BC, Canada. The company explores large-scale gold and copper projects in one of the world’s most prospective mineral regions; Mongolia. The Company’s license holdings in Mongolia, which total more than 153,310 hectares (378,873 acres),  contain significant zones of newly identified
primary gold and copper mineralization across a very large area of unexplored ground.

Competent Person Statement 

J. Kelly Cluer, a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Chandman-Yol Project.

 On behalf of Altan Rio Minerals Limited,

 “Evan Jones”

 Evan Jones,

President & CEO

 

For more information please contact:

Kelly Earle

Corporate Communications Manager

Altan Rio Minerals Limited

Tel: +1 604 639 5899 ext. 220

Email: [email protected]

Webwww.altanrio.com

 This press release may contain forward looking statements including those describing Altan Rio’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Rio and its management.

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.

Table 1. Copper and gold drill results from the 2011 program at the Chandman Project

Hole ID T.D.

(m)

Az

(°)

Dip

(°)

Easting

(UTM, m)

Northing

(UTM, m)

Elev (m) Copper
Intercept (>0.1 %)

Gold Intercept
(≥0.1 g/t)

From (m) To (m) Width (m) Grade
CH-18

Khuush zone

543.25 0 -90 487907.88 5247459.85 1818.45 15.00

42.90

417.80

484.05

490.05

510.50

20.40

148.50

420.80

486.05

492.05

512.50

5.40

105.60

3.00

2.00

2.00

2.00

0.11 %

0.12 %

0.12 %

0.16 %

0.17 %

0.90 %

CH-19

Del zone

593.55 0 -90 487839.89 5248605.01 1863.49 No significant results
CH-20

Khuush zone

500.10 0 -90 488150.05 5247304.90 1886.73 376.95 380.00 3.05 0.29 %
CH-21

Del zone

373.90 210 -45 487740.87 5249030.50 1818.61 355.90

49.35

358.90

51.40

3.00

2.05

0.12 %

0.85 g/t

CH-22

KY Intrusive

611.00 240 -80 490100.48 5248700.55 1896.00 13.90

167.65

374.60

571.00

14.90

170.35

376.10

574.05

1.00

2.70

1.50

3.05

0.10 %

0.24 g/t

0.10 g/t

0.49 g/t

CH-23

SE Skarn

566.25 0 -90 490443.01 5248297.08 1979.00 238.65

255.65

334.90

347.90

363.90

384.65

221.20

241.65

256.65

334.90

347.90

361.90

383.65

384.65

389.65

242.65

257.65

335.90

348.90

367.90

390.65

222.40

242.65

257.65

335.90

348.90

366.90

384.65

386.65

390.65

4.00

2.00

1.00

1.00

4.00

6.00

1.20

1.00

1.00

1.00

1.00

5.00

1.00

2.00

1.00

0.32 %

0.27 %

0.52 %

1.00 %

0.25 %

0.31 %

0.19 g/t

0.86 g/t

0.13 g/t

0.36 g/t

1.28 g/t

0.24 g/t

0.10 g/t

1.45 g/t

0.31 g/t

CH-24

KY Intrusive

778.80 30 -50 489791.21 5249084.31 1883.50 453.20

505.30

567.80

30.70

70.80

106.25

116.90

128.90

253.30

279.65

290.30

355.20

425.50

462.50

470.85

483.30

520.80

569.30

578.80

596.20

603.40

638.10

660.00

754.50

775.00

455.00

506.80

570.90

31.70

82.80

108.50

119.90

131.90

264.30

281.10

293.40

357.00

427.40

465.20

474.00

501.30

524.80

570.90

580.50

598.35

606.05

640.40

662.15

756.70

776.90

1.80

1.50

3.10

1.00

12.00

2.25

3.00

3.00

11.00

1.45

3.10

1.80

1.90

2.70

3.15

18.00

4.00

1.60

1.70

2.15

2.65

2.30

2.15

2.20

1.90

0.16 %

0.13 %

0.10 %

0.52 g/t

0.16 g/t

0.24 g/t

0.15 g/t

0.12 g/t

0.16 g/t

0.11 g/t

0.15 g/t

0.20 g/t

0.57 g/t

0.14 g/t

0.10 g/t

0.14 g/t

0.82 g/t

0.29 g/t

0.26 g/t

0.16 g/t

0.11 g/t

0.17 g/t

0.18 g/t

0.19 g/t

0.10 g/t

CH-25

KY Intrusive

734.00 75 -50 489311.00 5249669.44 1851.56 571.05

274.40

381.00

432.15

464.80

476.80

486.45

506.35

571.05

600.80

621.80

667.90

706.60

573.80

277.40

384.00

433.40

467.80

479.80

491.35

508.40

573.80

603.80

624.80

670.90

708.85

2.75

3.00

3.00

1.25

3.00

3.00

4.90

2.05

2.75

3.00

3.00

3.00

2.25

0.15 %

0.11 g/t

0.26 g/t

1.41 g/t

0.55 g/t

0.23 g/t

0.17 g/t

0.18 g/t

1.47 g/t

0.48 g/t

1.05 g/t

0.22 g/t

0.15 g/t

CH-26

KY Intrusive

881.00 0 -80 490187.94 5250716.91 2030.00 379.40

425.90

598.80

836.10

381.30

427.40

600.60

837.60

1.90

1.50

1.80

1.50

0.22 g/t

0.31 g/t

0.10 g/t

0.27 g/t

CH-27

KY Intrusive

463.00 190 -65 491173.25 5250550.97 2209.00 77.30

349.00

45.30

79.70

173.10

206.05

232.35

243.15

296.50

320.40

349.00

357.00

368.65

404.35

418.85

438.55

80.70

353.00

50.10

80.70

176.10

207.05

234.30

245.25

299.50

321.65

351.00

359.65

371.65

406.20

421.05

441.55

3.40

4.00

4.80

1.00

3.00

1.00

1.95

2.10

3.00

1.25

2.00

2.65

3.00

1.85

2.20

3.00

0.11 %

0.29 %

0.10 g/t

0.17 g/t

0.17 g/t

28.02 g/t

0.10 g/t

0.17 g/t

0.30 g/t

0.13 g/t

0.11 g/t

0.14 g/t

0.14 g/t

0.21 g/t

0.12 g/t

0.43 g/t

CH-28

SE Skarn

510.2 150 -70 490514.59 5248193.43 1938 103.00

98.00

104.00

109.00

1.00

11.00

0.12 %

0.16 g/t

CH-29

KY Intrusive

578.4 190 -70 491170.66 5250551.33 2209 359.10

386.65

459.80

44.95

149.40

155.40

166.65

202.30

220.95

234.10

247.85

293.00

343.20

423.60

442.65

507.35

536.10

572.00

360.95

388.65

462.80

51.55

152.40

158.40

168.50

209.30

222.55

235.85

250.85

296.00

345.20

426.60

450.80

511.05

539.10

574.65

1.85

2.00

3.00

6.60

3.00

3.00

1.85

7.00

1.60

1.75

3.00

3.00

2.00

3.00

8.15

3.70

3.00

2.65

0.11 %

0.11 %

0.19 %

0.24 g/t

1.23 g/t

0.21 g/t

0.18 g/t

0.13 g/t

0.10 g/t

0.10 g/t

0.19 g/t

0.25 g/t

0.15 g/t

0.52 g/t

0.21 g/t

0.39 g/t

0.25 g/t

0.13 g/t

CH-30

SE Skarn

680.95 152 -80 490378.24 5248534.22 1913 132.50

132.50

213.50

333.40

373.00

508.50

522.60

138.20

134.70

215.50

335.00

375.20

510.90

524.00

5.70

2.20

2.00

1.60

2.20

2.40

1.40

0.11 %

0.27 g/t

0.12 g/t

0.51 g/t

0.16 g/t

0.10 g/t

0.41 g/t

Total 7,814.4                  

Altan Rio Grants Options

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February 3rd, 2012 – Vancouver, British Columbia – The Board of Directors of Altan Rio Minerals Limited, TSX.V: AMO (“Altan Rio” or “the Company”) has authorized the Company to grant 1,992,400 stock options (“Options”) to certain directors, officers and consultants of the Company. The Options will: (i) vest over an 18 month period for directors with 33.3% vesting every 6 months and over a 12 month period for officers and consultants with 25% vesting every 3 months; (ii) be exercisable to acquire one common share of Altan Rio at CA$0.53 per share; and (iii) expire February 1st, 2017.

Options are granted subject to the terms and conditions of the Company’s Stock Option Plan (filed on SEDAR) and are subject to TSX.V approval. Options are administered by the Board of Directors who may authorize the Company to make allocations to eligible persons after considering their present and future potential contributions and value to the Company.

About Altan Rio

Altan Rio explores for large-scale gold and copper projects in one of the world’s most prospective mineral regions; Mongolia. The Company is currently exploring license holdings totaling more than 153,310 hectares. Our properties contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground in western Mongolia.

On behalf of Altan Rio Minerals Limited,

 

“Evan Jones”

Evan Jones,

President & CEO

 

For more information please contact:

 

Kelly Earle

Corporate Communications Manager

Altan Rio Minerals Limited

Tel: +1 604 639 5899

Email: [email protected]

Web: www.altanrio.com

 

This press release may contain forward looking statements including those describing Altan Rio’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Rio and its management.

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.

Altan Rio Provides Drilling and Ownership Update on the Chandman Copper-Gold Project

company news | Projects : Chandman Yol
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January 12, 2012 – Vancouver, British Columbia – Altan Rio Minerals Limited, TSX.V: AMO  (“Altan Rio” or “The Company”) is pleased to report that reconnaissance drilling has been completed at the KY porphyry intrusion and adjacent targets at the Chandman copper-gold Project (“Chandman”), part of the combined Chandman-Yol regional exploration project (“Chandman-Yol”), located in Khovd Aimag, western Mongolia. Altan Rio also reports that the Company is currently finalizing arrangements with Gallant Minerals Limited (“Gallant”) which will see the Company assume ownership of 100% of the five Chandman tenements.

Chandman location Mongolia map

Chandman location Mongolia map

Drilling Update

Two drill campaigns consisting of 17 diamond drill holes (5,167.7 m) were completed in 2009 and 2010. Encouraged by these results, a larger drill program was designed, budgeted and executed in 2011 to test the main higher chargeability portions of the IP anomalies.

The 2011 Chandman drill program consisted of 13 diamond drill holes for a total of 7,814.4 m drilled. Drilling was completed by Falcon Drilling Mongolia LLC. Drill core will be assayed by Stewart Group, Ulaanbaatar Mongolia with assay results expected early in 2012.

The objective of the 2011 program was three-fold;

  • Test combined IP and geochemical anomalies that exceed 2 km in length along the Del and Khuush copper-gold bearing structural zones
  • Attempt wide (300 m) offsets of previously reported CH-09 intersection (32.13 m @ 1.49 g/t Au and 0.6% Cu) in the Del zone
  • Provide the first tests of large, high-amplitude IP anomalies deep in the KY porphyry intrusive system, directly beneath robust copper-gold-arsenic soil and rock anomalies

The Chandman-Yol regional exploration program for the 2011 field season aimed to continue geophysical and geochemical survey coverage of the large license area and identify new target zones for future drill campaigns. The Company is pleased to report this was a solid success with at least 3 new target zones of gold and copper mineralization identified during the season.  This work complements previous programs that also identified new areas of copper and gold mineralization. At least seven large untested drill target zones have been delineated and will be the focus of 2012 and 2013 exploration campaigns.

 

Completed drill holes at Altan Rio’s Chandman Project in Khovd Aimag, western Mongolia, showing IP chargeability in colour, over geological map in gray. Holes CH-18 through CH-30 drilled in 2011.

Completed drill holes at Altan Rio’s Chandman Project in Khovd Aimag, western Mongolia, showing IP chargeability in colour, over geological map in gray. Holes CH-18 through CH-30 drilled in 2011.

Ownership Update

Pursuant to the Option Agreement dated November 26, 2007 with Gallant, Altan Rio held the right to acquire 80% of the shares of GS Minerals Corp. Ltd., a Bermuda incorporated company, who’s wholly owned Mongolian subsidiary Braveheart Resources LLC is the 100% owner of the five Chandman tenements.

Exercise of the option was subject to Altan Rio incurring US$3 million of cumulative exploration on the properties over a four year period, as well as making a total of US$650,000 in cash payments to Gallant. In November 2011, the last of the payments (US$500,000) was paid to Gallant, along with a notice of exercise.

Upon receipt of the notice of exercise, Gallant (as per the Option Agreement) elected to transfer to Altan Rio its remaining 20% interest in the tenements in exchange for a 2.5% Net Smelter Return Royalty. As such, as soon as the associated documentation has been completed, Altan Rio will hold 100% of the shares in GS Minerals Corp. Ltd. and hence beneficially hold 100% of the five Chandman tenements.

About the Chandman-Yol Project

The Chandman-Yol Project is located in mountainous basin and range country in eastern Khovd Aimag, western Mongolia, about 1,050 km west of the capital Ulaanbaatar. It consists of 9 tenements, all of which are owned 100% by Altan Rio, with the 5 Chandman tenements being subject to a 2.5% NSR.

Mineralization at Chandman, discovered in 2005, includes Cu, Au, As, Mo, Ag, Sb, Zn, Pb, in broad zones of intense quartz-sericite-sulfide alteration, which are thought to represent high-level near-typical Cu-Au porphyry systems with distal iron-rich skarns. Mineralization occurs across 55+ km of the license package and represents a large, new and under-explored copper-gold porphyry terrain.

Altan Rio has invested approximately US$5M to date, exploring the project with recent work including geophysical surveys, geochemistry, sampling, trenching and diamond drilling. The main copper-gold porphyry target consists of a broad zone of highly anomalous copper and gold located in a magnetic low, 3 km-long and 1 km-wide, potentially representing a large sulphidized body at depth.

About Altan Rio

Altan Rio was founded in 2007 and is based in Vancouver BC, Canada. The company explores large-scale gold and copper projects in one of the world’s most prospective mineral regions; Mongolia. The Company is currently exploring license holdings totaling more than 153,310 hectares (378,873 acres). Our properties contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.

Competent Person Statement

J. Kelly Cluer, a Qualified Person as defined by National Instrument 43-101, has reviewed the preparation of the scientific and technical information in this press release in respect to the Chandman-Yol Project.

On behalf of Altan Rio Minerals Limited,

“Evan Jones”

Evan Jones,

President & CEO

For more information please contact:

Kelly Earle

Corporate Communications Manager

Altan Rio Minerals Limited

Tel: +1 604 639 5899 x 220

Email: [email protected]

Web: www.altanrio.com

Announces Closing of $1 Million Financing, Completion of Qualifying Transaction, Consolidation and Name Change

company news | Projects : Chandman Yol
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Vancouver, British Columbia – Altan Rio Minerals Limited (fka “AMN Capital Corp.”) (the “Corporation“)(TSX VENTURE: AMO), a former Capital Pool Company (“CPC“) trading on the TSX Venture Exchange (the “Exchange“), is pleased to announce the closing on December 23, 2011 of its previously announced Qualifying Transaction, consisting of the acquisition of all of the issued and outstanding securities of Altan Rio Minerals Limited, a privately held company incorporated under the Business Corporations Act (“Altan“) (see the Corporation’s press release dated July 12, 2011 (“July Release”) and its Filing Statement dated November 28, 2011 for further details) and the completion of a concurrent brokered and non-brokered private placement by the Corporation for aggregate gross proceeds of $1 million (the “Financing“).

Name Change and Share Consolidation

As set out in the July Release and Filing Statement, immediately prior to effecting the Qualifying Transaction, the Corporation effected a consolidation of its issued and outstanding common shares on a  1.66665 pre-consolidated for one post-consolidated basis as well as a name change to “Altan Rio Minerals Limited”. Shareholder approval for the consolidation was obtained at the annual general and special meeting of shareholders of the Corporation held on September 13, 2011. The name change and the consolidation took effect on December 23, 2011.

Resumption of Trading

The TSX Venture Exchange (“Exchange”) granted conditional approval on November 18, 2011 to the listing of the common shares of the Corporation resulting from the Qualifying Transaction, subject to receipt of final submission documents. Pending satisfactory review of such final materials by the Exchange, it is expected that the common shares of the Corporation will commence trading under the new symbol “AMO” one day after the publication by the Exchange of its final listing Bulletin which is expected to occur on or before Wednesday January 11, 2012.

Three-Cornered Amalgamation

In connection with the completion of the Qualifying Transaction, the Corporation has completed a three- cornered amalgamation (the “Amalgamation“) between its wholly-owned subsidiary 0916963 B.C. Ltd. and Altan, and has issued an aggregate of 41,803,509 common shares and 13,237,121 common share purchase warrants to the former holders of Altan securities. For a complete summary of such securities and their principal terms, please refer to the Corporation’s Filing Statement dated November 28, 2011, a copy of which can be accessed via the Corporation’s corporate profile at www.sedar.com.

Financing

In conjunction with the Qualifying Transaction, the Corporation has completed a brokered private placement of 1,500,000 units of the Corporation (each, a “Unit“) at a price of $0.50 per Unit for gross total proceeds of $750,000. Macquarie Private Wealth Inc. acted as the agent (the “Agent“).  Each Unit was comprised of one common share and one-half of one common share purchase warrant (the “Warrant“). Each whole Warrant entitles the holder to acquire one common share at the exercise price of $0.65 for a period of two years from the date of closing (December 23, 2013). The Warrants are subject to an accelerated expiry provision whereby should the shares of the Corporation trade on the Exchange at a volume weighted average price in excess of $1.10 over a period of 30 consecutive trading days, the Warrants will expire 30 days following the date that notice of such event is given to the warrantholders.

The Agent’s compensation was paid by way of a cash commission of 7% of the gross proceeds of the brokered financing and 105,000 agent’s options. Each agent’s warrant entitles the holder to purchase one additional common share of the Corporation at a price of $0.65 for a period of two years from the date of closing (December 23, 2013). A corporate finance fee of $45,000 plus HST was paid to the Agent in the form of $35,000 plus HST in cash and the remainder by the issuance of 20,000 common shares of the Corporation.  The Corporation also reimbursed the Agent for reasonable fees and expenses incurred in connection with the private placement.

The Corporation also completed a non-brokered private placement of 500,000 Units outside of Canadawith the assistance of Mongolia International Capital Corporation (the “Finder”). As compensation for completion of the non-brokered portion of the financing, the Finder was paid a commission of 6% of the gross proceeds of the non-brokered financing. In addition, the Finder received 30,000 finder’s warrants entitling the Finder to acquire 30,000 common shares of the Corporation at a price of $0.65 per share for a period of two years from closing (December 23, 2011).

The securities issued pursuant to the brokered and non-brokered private placement and the Agent’s and Finder’s compensation are subject to four month hold periods expiring April 24, 2012.

Capital Structure

After giving effect to the Qualifying Transaction (and having regard to the previously outstanding securities of the Corporation being, post-consolidation, an aggregate of 1,680,016 common shares), the total issued and outstanding capital of the Corporation consists of 45,503,525 common shares, 14,237,121 common share purchase warrants, 195,000 Agent’s options and 30,000 Finder’s warrants.

17,434,489 of the foregoing shares are subject to a surplus security escrow agreement, whereby a 36-month escrow period applies, with ten percent (10%) being releasable on receipt of final approval of the Exchange and fifteen percent (15%) being releasable every 6 months thereafter.

The foregoing escrowed securities are in addition to the escrowed securities that were deposited under a CPC escrow agreement at the time of completion of the Corporation’s initial public offering. A further 690,008 common shares are held under that agreement, with ten percent (10%) being releasable on receipt of final Exchange approval and fifteen percent (15%) being releasable every six months thereafter.

Appointment of New Directors and Officers

On closing the Amalgamation, the following individuals comprise the directors and officers of the Corporation: Evan C. Jones (President, Chief Executive Officer and a Director); Robert Scott (Chief Financial Officer and Corporate Secretary); Kelly Cluer (Vice-President, Exploration and a Director); John L.C. Jones (Chairman and Director); Murray Seitz (Director); and Paul O’Brien (Director).

About Altan Rio

The Corporation is a mineral exploration company focused on exploring and developing mineral concessions located in Mongolia. Altan brings to the Corporation three Mongolian mineral exploration properties focused on gold and approximately $4.9 million cash. The Corporation’s primary focus over the 12 months following the Qualifying Transaction will be the Chandman Project (the “Chandman Project“).

Details regarding the Chandman Project are available in the Filing Statement of AMN that was filed on December 8, 2011 and is available under the Corporation’s profile at www.sedar.com.   The Corporation has also filed on SEDAR a technical report dated February 11, 2011, effective February 10, 2011 entitled “NI 43-101 Technical Report Chandman-Yol Copper-Gold Exploration Project Khovd Aimag, Mongolia” by John L. Stockley, F.A.I.M.M., C.P. (Geo), Exploration Geologist of Lyndhurst Enterprises Pty Ltd., prepared for AMN.  Mr. Stockley is independent of the Corporation.

Further Information

For further details regarding the Qualifying Transaction, including detailed profiles of the individuals that have been appointed officers and directors of the Corporation, readers are encouraged to make reference to the Filing Statement of the Corporation dated November 28, 2011 that was filed on December 8, 2011 and is available under the Corporation’s profile at www.sedar.com.

Contact

For further information, contact Kelly Earle, Corporate Communications Manager, at:

Telephone: (604) 639-5899 x 220.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in filings by the Corporation with Canadian securities regulators, which filings are available under the Corporation’s profile at www.sedar.com.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release. Neither 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).