Venus Copper Project – Drilling Update

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VANCOUVER, BC, Canada (August 20, 2019) – Altan Nevada Minerals Limited (TSXV: ANE) (the “Company”) is pleased to confirm the commencement of the company’s maiden drill program on the Venus copper gold target, Yerington District, Nevada, USA. All permitting and earthworks have now been completed and the rig is operational (See figure 1).

Figure 1: Falcon Drilling contract Rig on site at Venus Copper Gold project.

The Venus copper gold project has never been drilled before and is considered to have good potential for the discovery of new deposits of similar size and grade to the adjacent Pumpkin Hollow copper gold mine (see Figure 2).

Figure 2: Altan Nevada Drilling contractor commences operations approximately 1 mile from the Pumpkin Hollow headframe.

This program represents the first drilling program into the project that has been subject to extensive review by leading geo-scientific exploration consultants, Terra Resources Pty Ltd identifying a total of 7 high priority targets to test the potential of Venus to host copper gold mineralisation. Surface geology/ geochemistry, ground magnetics, gravity and induced polarization (IP) surveys have been used to plan and prioritize drilling (Figure 3).

In addition the project is considered to have the potential for discovery of buried porphyry-style copper mineralization with characteristics similar to the Yerington (Anaconda) Mine.