Erick Underwood to Join Altaley Mining Corporation as the New CFO

Financial officer Erick Underwood joins Altaley Mining Company.

FREMONT, CA: “I’m very excited to join the Altaley team and work with Mike and the rest of the organization to take Altaley to the next level. I look forward to contributing to achieve Altaley's future aspirations to become a successful mid-tier producer in Mexico, says Erick Underwood. Altaley Mining Corporation has appointed Mr. Erick Underwood as the company's new Chief Financial Officer. Mr. Underwood will begin working for the company on February 1, 2023.

Mr. Underwood has over 25 years of experience in corporate development, business planning and analysis, treasury, and accounting in the mining industry, 14 of which were spent in Chile and Peru. Currently, he serves as CFO of the TSX.V-listed Chesapeake Gold Corp., which owns the Metates Project in Durango, Mexico.

Mr. Underwood was formerly the Finance Director at Cia. Minera Zafranal SA (a Teck Resources Ltd. and Mitsubishi Materials Corporation joint venture that owns the Zafranal copper project in southern Peru), where he contributed to the successful completion of the Feasibility Study and subsequent update. Mr. Underwood was formerly the Chief Financial Officer of AQM Copper Inc., a former TSX-V-listed company and previous owner and operator of Zafranal, where he contributed to the development of the project and subsequent sale of AQM Copper Inc. to Teck Resources Ltd.

He has served as a Business Planning consultant for the mining companies Newmont-Barrick Norte Abierto project JV, Marcobres Mina Justa, and Teck Resources Ltd. Highland Valley Copper, in addition to holding various management positions for Cia. Minera Antamina and BHP Billiton Base Metals. Mr. Underwood performed crucial roles in winning permission for investment projects such as the $475 million mine extension and mill modernization at Highland Valley Copper, the $1.3 billion 130ktpd expansion at Antamina, and the $950 million greenfield project at Spence.

Mr. Underwood possesses an MBA from the University of Toronto's Rotman School of Management, a Graduate Diploma in Management from McGill University, and a Bachelor of Commerce (Finance & International Business) from McGill University. He holds the professional designations CPA and CMA from CPA Ontario.

“I am very pleased to welcome someone of Erick's caliber into the Company. Erick brings substantial operations and projects experience to the role, with a background in mining operations with both majors and juniors. This experience will be invaluable as we transform Altaley into a consistently performing and profitable mining company in 2023,” states Mike Struthers, CEO. “I want to thank outgoing CFO Omar Abrego for his tireless efforts to support the Company over many years and wish him luck in the next chapter in his career.”

The Company has further acquired clearance from the TSX Venture Exchange for its previously reported "shares for debt" arrangement involving the issuance of a total of 735,186 shares at a deemed issue price of $1.60 per share to a mining contractor.

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