#1SALTAN TSX-V: AMO RIO Altan Rio Minerals Investor Presentation February 2023 "New Management, New Future, A New Altan Rio"#2Forward Looking Statement ALTAN RIO This presentation has been prepared by Altan Rio Minerals Limited ("Altan Rio") to provide an overview of Altan Rio's mineral properties and current exploration activities. Any statements, opinions, projections, forecasts or other material contained in this presentation do not constitute a commitment, representation or warranty by Altan Rio or its directors, officers, agents or employees. The directors, officers, agents and employees of Altan Rio shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in this presentation. This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of Altan Rio. An investment in Altan Rio is considered to be speculative in nature. Each individual should rely solely upon its own investigations and inquiries with respect to Altan Rio and agrees it will not in any way rely upon this presentation. Altan Rio recommends that you consult your own professional advisor(s). Certain statements in this presentation may constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause Altan Rio's actual results, performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These statements relate to future events or future performance and reflect the expectations of management regarding growth, results of operations, performance and business prospects and opportunities. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. Forward-looking statements are based on the beliefs, estimates and opinions of Altan Rio's management on the date the statements are made. Altan Rio undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. All technical and scientific information contained in this presentation has been reviewed and approved by Neal Leggo, a "Qualified Person" as such term is defined in NI 43-101 of the Canadian Securities Administrators. Mr. Leggo is a Member of the Australian Institute of Geoscientists and is a Principal Geologist with CSA Global Pty Ltd, Mining Industry Consultants, an ERM Group Company. Cover-PILOT Mine - Southern Cross Western Australia ALTAN TSXV: AMO SLIDE 2 2#3The New "AMO" - Team ALTAN John Jones Director Kerry Griffin Director Graeme Sloan Executive Chairman and Interim CEO Josh Conner Chief Operating Officer Brian Cole Director Jim Harris Director ALTAN RIO TSXV: AMO 3 SLIDE 3#4ALTAN The New "AMO" - Foundation for success • Experienced Management team that has delivered projects on time and on budget Tier 1 Jurisdiction - Perth to Southern Cross, 4 hrs Tier 1 Geology - Southern Cross Greenstone Belt Produced over 12 million ounces of gold Adjacent to infrastructure 560000 Copperhead OP/UG Frasers Corinthian Shear E77/2691 P77/4572 710 000 ME 720000 ME Parth Southern Cross Nth Project Southern Cross Harvel Loch Yilgarn Craton Australia 200km P77/4571 Corinthia North Corinthia OP/UG Pilot OP/UG ● Under explored tenure • TSX listed with plans to dual list on ASX 6550 000 m Tenement Acquisitions New Tenement Applications Southern Cross North Project Tenure Major Roads Power Grid Hopes Hill OP E772658 Hopes Hill ET7/2659 E77/2573 Southern Cross Townsite Golden Pig Frasers OP/UG OP/UG Assets • Near ready mine, Stockpiles and Tolling arrangement •Strong Tenure • TSX listed - Marketable stock 6540 000 m N Trans Australian Railway 5km Value Proposition Highway Eastern H Strong land position in top 5 Australian gold producers Targeting near-term cashflow to accelerate production • Brown fields exploration • Other Commodity upside – Nickel, Lithium & PGE's. - ALTAN RIO TSXV: AMO SLIDE 4#5ALTAN The New "AMO" - What have we done? Phase I-Consolidate Southern Cross "North" ✓ Finalise Mostia 19.4% Tranche ✓ Completed acquisition of remaining 20% of Surveyor Resources to give AMO 100%. 20% acquired for CAD$1.0M or 10M shares at CAD$0.10 per share plus attaching warrants. Raise funds to strengthen Balance Sheet Undertaking early Scoping Study on Pilot Actively pursuing M&A opportunities 6570000N 6510000N 6520000N 6530000N 6540000N 6550000N 6560000N + + Copperhead Corinthia Pilot Hopes Hill Golden Pig Frasers 6480000N 6490000N 6500000N Legend Gold Mines Current Live and Pending Tenements Altan Rio Minerals Pty Ltd Surveyor Resources Pty Ltd | MCCLAREN, KYM ANTHONY Barto Gold Mining Pty Ltd Xantippe SX Pty Ltd Bullseye Mining Ltd I Marvel Loch + + 5 0 10 km ALTAN RIO TSXV: AMO SLIDE 5#6ALTAN The New "AMO" - Where are we going? Phase II - Continue consolidation Southern Cross region Look to generate near term cash flow options . Commence modern exploration methods Open door on M&A Opportunities ASX & TSX dual listing 6480000N 6560000N 6570000N 6490000N 6500000N 6510000N 6520000N 6530000N 6540000N 6550000N Legend + Gold Mines Current Live and Pending Tenements Altan Rio Minerals Pty Ltd Surveyor Resources Pty Ltd | MCCLAREN, KYM ANTHONY Barto Gold Mining Pty Ltd Copperhead Xantippe SX Pty Ltd Bullseye Mining Ltd I Corinthia Pilot Hopes Hill Golden Pig Frasers Marvel Loch + + 6 0 10 km ALTAN RIO TSXV: AMO SLIDE 6#7The New "AMO" – Near Production Mine - ➤Last mined in 1994 gold price A$524/oz, today ~A$2,650/oz Phase 1 drilling delivered excellent grades at depth, 4m @ 7.51 g/t 8m @ 9.65 g/t 13m @ 4.48 g/t (New Western Lens) Planned new drill program ➤ Mine Design to be completed at A$2,550/oz Open pit and Underground potential Multiple targets along strike 14600mN 14400mN PROPOSED WASTE DUM 1000mRL 170 1 3 3 PARC005 CURRENT OPEN PIT PMRC012 PMR 4m @7.27g/t 7m @ 1.63git 900mRL BANDED AMPHIBOLITE 13m 4.48git 4m 7.51g/t Bm @ 9.65g/t Incl. 5m @ 13.93g/t PEM 3 80m STOPE Projecto from 18 100 33m PMRC030 6m @ 1.45g/t EMOLITE MAGNETIT BASALT META SEDIMENTS Mineralised Envelope PARC017 17m @ 1.33g/t Au incl. O 4m @ 2.80g/t Au and 5m @2.19g/t Au PARC021 11m @ 1.71g/t Au PARC023 11m @0.86g/t Au incl. 3m @ 1.52g/t Au PARC002 11m @ 1.34g/t Au PARC004 29m @1.04g/t Au incl. 4m 1.52g/t Au and 7m @ 2.87g/t Au PILOT OPEN PIT PRODUCTION 422,622t @2.42g/t for 28,860oz Greater Western Diamond Drill Hole Core Not Assayed Stope 4 Level 0 PEM 3 Conductor PARC011 5m @ 2.88g/t Au OPEN PIT TARGET PARC026 1000mRL- 800mRL 4m @ 1.17g/t Au incl. 1m @ 3.85g/t Aut 0 PARC016 6m @ 2.16g/t Au incl. 2m @5.58g/t Au 1m @ 26.7g/t Au 0 PEM 1 Conductor PARC010 10m @4.21g/t Au incl. 7m @ 5.69g/t Au 900mRL- 11m @ 3.31g/t Au incl. 800mRL- 4m @ 6.65g/t Au PEM 2 Conductor PARC005 13m @4.48g/t Au 4m @7.51g/t Au 8m @9.65g/t Au ●Proposed EIS Co-Funded Hole Holes Not Drilled Deep Enough Did Not Intersect Pilot Mineralisation or PEM 4 Conductor ALTAN Feb 22 - Depth Extension Drilling Planned Feb 22 Depth Extension Drilling Completed Altan Rio Drilling Historical Drilling O Hole Abandoned Reported Intercepts Main Lode PEM 4 Conductor 100m 700mRL PEM 4 4.80m GRANITE Phase 1 Drill Intercept Historical Drill Intercept >1gt Gold Mineralisation Envelope 700mRL- Pilot Deposit 14,520mN (Local Grid) 10 600mE 10 700mE 10 800m 50m 7 ALTAN RIO TSXV: AMO SLIDE 7#8The New "AMO" – Near Production Mine - Pilot Stockpile Estimated 30kt - 40kt Mined in 1994 Average grade of 1.5g/t Estimated recovery ~90% ~1,500 2,000 ounces ALTAN ALTAN RIO TSXV: AMO SLIDE 8 8#9The New "AMO" - Exploration: Gold & Nickel Targets Altan Rio has >30km strike along Fraser shear ➤Initial targeting generated from CSA Report Key Gold Targets Key Nickel Targets ■ 14 Gold targets + 2 Nickel zones (Shown) Plus additional 10+ gold + + targets North and South ➤ Plus additional targets generated by Altan Rio Geology Team Total tenement package currently under review Surface Ni samples up to 1.2% + ➤Lithium Protentional ALTAN + Ⓡ Corinthia + Pilot Hopes Hill 9 ALTAN RIO TSXV: AMO SLIDE 9#10ALTAN The New "AMO" - Limited Drilling FCSZ Long Section Hopes Hill Tenements (vertical exaggeration x3.8) Pilot Open Pit at Depth Hopes Hill Open Pit 8m @3.00g/t Au 5m @ 8.30g/t Au 26.8m @ 4.44g/t Au 1m @ 3.58g/t Au 7m @ 1.30g/t Au 7m @ 0.96g/t Au 6m @ 8.46g/t Au 2m @ 10.20g/t Au 7m @ 1.17g/t Au 2m @ 1.81g/t Au Interpreted NS Fault Offset of FCSZ 670mbs Depth of Copperhead UG Altan Rio 50% Excised Minimal Drilling below 50 metres 3m @ 2.88g/t Au 2m @ 5.93g/t Au 400mRL 200mRL 250mbs Depth of Frasers UG OmRL 2.74KM STRIKE 2.25KM STRIKE 3.48KM STRIKE Deposit Ounces Frasers 1,200,000 • Golden Pig 640,000 Ranking Targets Probability of success • Close to infrastructure Hopes Hill 214,000 • Pilot 54,000 Permit friendly • Corinthia 190,000 Minimise time from discovery/extension to Production Copperhead 1,500,000 ALTAN RIO TSXV: AMO SLIDE 10 10#11A New Altan Rio IMPACT C ALTAN RIO TSXV: AMO SLIDE 11