Altiplano Metals Inc. reported the intersection of the 352 m mining level as part of the ongoing development of the Hugo Decline at the Farellon copper gold mine located near La Serena, Chile. Cross cuts from the 352 m level have intersected the Farellon Iron Oxide Copper Gold vein structure with production headings now established on the northeast and southwest directions. Mining in this area has begun along with benching operations continuing between the roofs and floors of the 360 m and 368 m levels.

Further development of the Hugo Decline to the 344 m level is expected to begin in the next four weeks with a time frame of approximately 12 weeks to reach the new targeted intersection. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with the production decision.