Altan Nevada Announces Financing and Exploration Plans, Proposes Share Consolidation

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VANCOUVER, August 8, 2018. Altan Nevada Minerals Ltd. (TSX.V ANE) (“Altan Nevada” or the
Company”) is pleased to announce plans to raise capital for continued exploration and drilling at the
company’s 100% owned Venus Copper Project. The Company also proposes to undertake a 2:1
consolidation of its common shares.
Private Placement

The Company is undertaking a non-brokered private placement to raise gross proceeds of between
$500,000 and $1,000,000 by the sale of units at a price of $0.025 per unit (the “Private Placement”).
Each unit will consist of one common share of the Company and a share purchase warrant entitling the
holder to acquire an additional common share at a price of $0.05 for a period of two years following
closing. The Private Placement is subject to the approval of the TSX Venture Exchange, and will require
an exemption from the TSX Venture Exchange’s minimum $0.05 pricing rule. The Company may pay
finders fees on the private placement in line with normal commercial practice.
Use of Proceeds

Assuming the Private Placement is fully subscribed, the $1,000,000 in gross proceeds are intended to be
applied broadly as follows:

Use of Proceeds Cost
Payment of Existing Trade Creditors $60,000
Environmental access, mining licence and permitting fees $40,303
2018 Exploration Program $472,500
Financing costs $60,000
General and administrative expenses $200,000
Working capital $147,197
Total Funds $1,000,000

The Company presently has debts in the approximate amount of $900,000. The Company intends to
apply approximately $60,000 of the proceeds of the financing to pay certain key creditors who must be
paid so the Company can maintain its status as a listed public company. After such payment, the
Company will have a balance of approximately $840,000 in remaining debts. The Company is in
discussions with its remaining creditors regarding the repayment of these debts, which may involve the
issuance of shares for debt, or a combination of share issuances and cash payments. Any settlement of
the Company’s outstanding debts involving the issuance of shares will require the approval of the TSX
Venture Exchange. Substantially all of the Company’s remaining creditors have agreed not to require
repayment of their debts prior to December, 2019, although the Company may enter into settlement
agreements respecting the debts with some or all of its creditors at any time.Commenting on the proposed changes, Altan Nevada Chairman, Mr John Jones, said today:

“This is a real milestone for the company and a credit to the team for maintaining the company and its
assets through difficult times.

“It is remarkable that an opportunity like the Venus Project exists, but we have seen many times before
how some of the best projects can be overlooked, creating an opportunity for those with the skills to
recognize the potential.

“Our strategy of applying world class technology and experience to review mineral opportunities has
delivered an outstanding target and we look forward to conducting our maiden drill program later this
calendar year.”

Venus Property Exploration Plans

The Venus Project is located within the Yerington copper porphyry district in the Walker Lane
mineralized belt in Nevada. It is approximately six miles east-south-east of the Yerington township, and
easily accessible by both paved and dirt roads.

Altan Nevada’s decision to advance exploration at the Venus Project coincides with the
recommencement of development of Nevada Copper Corp.’s (TSX:NCU) (“Nevada Copper”) Pumpkin
Hollow Copper Mine immediately to the north and less than one mile from the tenement boundary
which is expected to produce an average 50 million pounds of copper annually over 23 years
commencing mid-2019.

A news release highlighting the potential for the Venus project was released on August 7, 2018. Venus is
considered to have the potential for the discovery of new deposits of similar size and grade to Pumpkin
Hollow. It also has the potential for discovery of buried porphyry-style copper mineralization with
characteristics similar to the Yerington Mine.

The next stage of the exploration program at the Venus Project is to prioritize and further ground truth
existing targets with a view to commence drill testing late in 2018.

Shareholders Meeting

Altan Nevada will be holding a special meeting of its shareholders on in or about the first week of
October, 2018 (the “Meeting”) at which it will seek shareholder approval for a 2:1 consolidation of its
common shares. Currently the Company has 37,029,600 common shares outstanding, which will
increase to 77,029,600 shares if the Placement is fully subscribed. If the consolidation is approved by
shareholders, the Company will then have 38,514,800 common shares issued and outstanding.

The Company will also be seeking shareholder approval at the Meeting for an amendment to its Articles
to allow certain matters which currently require shareholder approval to be approved by a resolution of
the Company’s board of directors, as permitted under British Columbia Business Corporations Act. If the
amendments are approved – which will require the affirmative vote of 66 2/3 of the Company’s
shareholders – the board will be authorized to approve consolidations and subdivisions of the
Company’s common shares, and changes to the Company’s name. These provisions are commonly
2found in the articles of British Columbia corporations, and their adoption will provide the Company’s
board with flexibility and minimize costs and delays if such changes are required to be made at any point
in the future.

A final item of business to be put before shareholders is the approval of the Company’s Chairman, John
Jones, becoming a “control person” of the Company as such term is defined in the TSX Venture
Exchange’s Corporate Finance Manual. Under the policies of the TSX Venture Exchange, shareholder
approval is required when any person becomes a “control person” of the Company, which is deemed to
have occurred when a shareholder acquires 20% or more of a listed issuer’s voting securities after giving
effect to the exercise of any warrants, options or other convertible shares held by such shareholder. Mr.
Jones presently holds 324,586 common shares and 175,000 stock options of the Company (pre-
consolidated numbers), representing 1.34% of the Company’s current issued and outstanding common
shares assuming the exercise of all issued options. Mr. Jones anticipates participating in the Private
Placement which, depending on the number of units which he and others decide to acquire, may seeContact:
him exceed the 20% threshold. Even if the Placement does not result in Mr. Jones becoming a control
person, Mr. Jones is a significant creditor of the Company, being owed approximately $390,000. If
shares are issued in settlement of the debts owed to him by the Company, such share issuances may
also cause him to become a control person. Anticipating this possibility, the Company intends to seek
the shareholder approval the TSX Venture Exchange so requires.

A Notice of Meeting and information circular respecting the Meeting will be mailed to shareholders of
the Company shortly, and will be posted under the Company’s profile at www.sedar.com.

Contact:
John Jones AM (Chairman)
Perth, Australia
Phone: +61 9322 1788
Email: [email protected]

Altan Nevada Minerals Ltd
800-1199 West Hastings Street
Vancouver BC Canada V6E-3T5