Altiplano Metals Inc. is contesting legal proceedings initiated against two of its wholly owned Chilean subsidiaries, Andes Metals SpA and Altiplano Minerals SpA, following bankruptcy and debt notices filed in Chile.

Andes Metals SpA received a formal bankruptcy notice from Andes Core Mining for disputed mining contracting work regarding unpaid invoices totalling CLP$191,000,000, which is approximately CDN$284,000. Under an earlier short-term agreement established in February 2026, Andes Core Mining was engaged to conduct contractor-operated mining and processing at the Santa Beatriz copper-gold-iron project located in the Coquimbo Region of Chile, where subsidiary Andes Metals SpA holds operating responsibilities. That arrangement was designed to rent the operations to provide rental income while advancing mine development and plant optimization at the project.

In addition, subsidiary Altiplano Minerals SpA received a separate claim from Telecomunicaciones Robinson Alejandro Alvarez Vergara E.I.R.L. demanding CLP$70,000,000, representing roughly CDN$104,000 for disputed electrical contracting services.

Altiplano intends to protest the initiation of the bankruptcy proceedings and work alongside local stakeholders and authorities to resolve the matters before any further legal actions can be taken. The company expects to provide a further operational and legal update later in the week following court hearings in Chile.

The legal developments coincided with heavy selling pressure on the market. The stock is currently trading at $0.015, down 25.00%, with trading volume surging 888% above the 50-day average of 25,159 shares.

Read the full announcement: Altiplano Receives Notifications on Legal Proceedings in Chile