Altan Rio Closes $500,000 Private Placement

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VANCOUVER, BC (July 15, 2020) – Altan Rio Minerals Ltd. (NEX:AMO.H) (“Altan Rio” or the “Company“)
is pleased to announce it has closed its previously announced non-brokered private placement of units (the
Private Placement“). The Private Placement raised gross proceeds of approximately C$500,000 through
the sale of 8,333,331 units (each a “Unit“) at a price of C$0.06 per Unit. Each Unit consisted of one common
share of the Company (each a “Common Share“) and one-half of one Common Share purchase warrant
(each whole warrant, a “Warrant“), with each Warrant entitling the holder thereof to acquire one Common
Share at a price of C$0.10 per share until July 15, 2021.

The Company intends to use the proceeds from the Private Placement to advance its interest in the
previously announced transaction with Surveyor Resources Pty Ltd, in connection with its anticipated
application to reactivate onto the main board of the TSX Venture Exchange from NEX, to pay certain creditors
and for general working capital and administrative expenses.

The Company will pay a finder’s fee of C$15,726 to North Beach Mining Pty Ltd. in connection with the
Private Placement.

The securities underlying the Units sold in the Private Placement are subject to a statutory resale hold period
under applicable Canadian securities laws which expires on November 16, 2020.

On behalf of Altan Rio Minerals Limited
For more information contact:
Paul Stephen
Chief Executive Officer
Email: [email protected]
+61 9322 1788

Cautionary Statement on Forward-Looking Information
This release may contain forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties, and other factors which may cause the actual results, performance, or
achievements of Altan Rio to be materially different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. These forward-looking statements are based on
management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers
are cautioned not to place undue reliance on such forward-looking statements or information. Actual results
may differ materially from those currently anticipated in such statements, and Altan Rio undertakes no
obligation to update such statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.