Altan Rio
Minerals Limited, announces a private placement
financing of up to 4,000,000 common share units at a price of CA$0.25 per unit
for gross proceeds of up to CA$1,000,000. Each unit will consist of one common
share and one-half of one common share purchase warrant. Each whole warrant
will entitle the holder to acquire one common share of Altan Rio for a period
of two years from the closing date at a price of CA$0.50 per share. The
warrants are issued subject to an accelerated exercise clause that can be
triggered at Altan Rio”s option if the closing price of the Company”s common shares
on the TSX.V is CA$1.10 or higher for 30 consecutive trading days. All
securities issued under the offering will be subject to a four-month hold
period. The financing is subject to regulatory approval. Finder”s fees may be
payable on a portion of the financing.

The proceeds of the offering will be
used for targeted drilling at the Company”s Chandman-Yol project, other
exploration in Mongolia, and general working capital.

Altan Rio, founded in 2007, is based
in Vancouver BC, Canada. Using innovative exploration targeting techniques and
leveraging long-term in-country experience, the company explores large-scale
gold and copper projects in Mongolia, one of the world”s most prospective
mineral regions. The Company”s license holdings in Mongolia, which total more
than 153,310 hectares (378,873 acres), contain significant zones of newly
identified primary gold and copper mineralization across a very large area of
unexplored ground.

CNW