High Grade Gold Extensions Confirmed Below Historic Pilot Mine, Southern Cross Goldfields WA

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Highlights

• Results from RC drilling confirm High Grade Gold Mineralisation at the Historic Pilot Shallow Open Pit Mine with intercepts of:

– 5 metres @ 13.93 g/t within an overall intercept of
– 8 metres @ 9.65g/t, and
– 1 metre @ 19.14 g/t within an overall intercept of
– 4 metres @ 7.51 g/t, and
– 7 metres @ 5.69 g/t within an overall intercept of
– 10 metres @ 4.21 g/t.

• Pilot – Phase 2 drill program targeting immediately beneath the pit has recently been completed.

VANCOUVER, BC, March 11, 2021 /PRNewswire/ — Altan Rio Minerals Limited (TSXV: AMO) ("Altan Rio" or the "Company") is pleased to provide an update of drilling activities and results received at the Pilot Deposit ("Pilot"), pursuant to its exploration and mining agreement (the "Pilot Agreement") with Barto Gold Mining Pty Ltd ("Barto").

At Pilot, drilling has been completed on the initial ten RC drillhole program. This program was designed to test for mineralisation potential along strike of the existing pit and the estimated depth limits for expansion of the current open pit. One hole (PARC010) was designed to evaluate the interpreted down plunge potential of the high-grade mineralisation defined by underground diamond drilling at the "4 Level" (120mbs) in the historical underground workings (refer TSXV: AMO November 3, 2020).

Commenting on the results, Altan Rio CEO Mr Paul Stephen said:

"These are highly encouraging results which vindicate the Company’s focus on Western Australia’s Southern Cross greenstone belt."

"We have been able to intersect and confirm the position of the mineralised structure in our first drilling campaign, the interpreted continuity of high-grade mineralisation from the base of the current open pit to these intercepts is a very positive indicator for expansion of the open pit. The drilling has also provided invaluable information which has increased our understanding of the deposit and importantly identified potential for additional ore lode positions parallel to the main structure (and beneath)."

"These initial results bode well for the Company, especially as Altan Rio has a joint Mining Agreement (refer NEX: AMO.H June 23, 2020) with Barto Gold, owner of nearby Marvel Loch milling facility which is currently undergoing a major upgrade."

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