Altaley Mining Begins Metallurgical Pilot Plant Testing at Campo Morado

Vancouver, British Columbia--(Newsfile Corp. - August 3, 2021) - Altaley Mining Corporation (TSXV: ATLY) (OTC Pink: ATLYF) (FSE: TSGA) ("Altaley" or the "Company")is pleased to announce that it has initiated an extensive metallurgical testing program at its Campo Morado mine designed to investigate the possibility of increasing recoveries of both base metals and precious metals.

The company has engaged Maelgwyn Mineral Services Ltd ("MMS") of Cardiff, United Kingdom (https://www.maelgwyn.com) to investigate the potential for increased recoveries of gold, silver, zinc, lead and copper through MMS patented Imhoflot" pneumatic flotation technology for concentrate flotation (https://www.maelgwyn.com/technology/pneumatic-flotation-imhoflot) and Leachox" Process for forced oxidation and leach recovery of precious metals. (https://www.maelgwyn.com/leachox-process-for-flotation-concentrates).

MMS has shipped an Imhoflot" pneumatic flotation pilot plant to Campo Morado (Figure 1) and the pilot plant has initiated a 3-4-month extensive metallurgical testing program. Altaley will initially test the recoveries generated by the Imhoflot pilot plant to compare with the recoveries currently being realized within the mine's traditional mechanical flotation circuit. See the pilot plant in action here>.

Figure 1

To view an enhanced version of this Figure 1, please visit:
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Additional pilot plant testing will be conducted as follows.

• Test the ability to make a gold rich pyrite concentrate which could be marketed for sale,
• Fresh Imhoflot tailings material will be subjected to second phase testing with MMS patented Leachox Process. See note below on 1^st phase Leachox testing conducted in 2013.
• Historic tailing stored on site within the lower tailing's facility containing over 3.3 million tonnes of tailings, will be tested with both the Imhoflot Flotation and Leachox Process at micro fine grind levels to potentially recover both base metals and precious metals not originally recovered within the mine's traditional mechanical flotation cells.

ABOUT 2013 1ST PHASE LEACHOX TESTING AT CAMPO MORADO

Previous First Phase Leachox testing was conducted very successfully on Campo Morado mineralization during 2013 by the mine's previous owner. (See the Company's press release dated April 1, 2019 where historic Leachox testing showed recovery increases up to 65% gold and 86% silver are possible at Campo Morado).

2013 Leachox testing demonstrated that substantial increases in precious metal recoveries are available at Campo Morado using Maelgwyn Leachox Process. Very positive results were obtained in the 2013 testing of two separate mineralized zones where samples were submitted for testing to MMS. First phase Leachox testing returned recovery results of up to 65% gold and 75% silver at a grind size of 20 microns from the process tailings sample of the G9-Southwest Zone and recoveries of 45% gold and 81% silver at a grind of 40 microns were returned from the Reforma deposit sample. MMS's 2013 report stated, "It should be noted that the above test work was scouting test work only and higher recoveries would probably be achieved with optimization work". Campo Morado current recoveries using only mechanical flotation are approximately 20% for gold and 40% for silver.

ABOUT THE LEACHBOX PROCESS:

The Leachox process is a partial sulphide oxidation process for the recovery of gold and silver from sulphide minerals. Depending upon the mineralogy, several processes are used, but central to the Leachox process is the Aachen shear reactor. In the leach process, it enhances the kinetics and reduces reagent consumptions (oxygen, cyanide, and lime) which otherwise can be prohibitive. The reactor is designed to introduce a high degree of shear which removes passivating films that reduce recovery.

For more detailed technical information on the process, please visit the Maelgwyn website at: https://www.maelgwyn.com/leachox-process-for-flotation-concentrates/

ABOUT IMHOFLOT PNEUMATIC FLOTATION

Imhoflot pneumatic flotation technology has evolved through 25 years of industrial applications. This has led to the development of the patented Imhoflot G-Cell where centrifugal forces are used in the cell to quickly separate the phases after mineral collection and therefore considerably reducing the size of vessels required.

Imhoflot is characterized by:

• High selectivity in terms of grade versus recovery relationship due to very small bubble sizes initially generated in the reactor and very high energy utilization in mineral collection
• Efficient in also recovering small (

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