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Altan Nevada Minerals Limited Management Discussion And Analysis For The Year Ended December 31, 2022

The management’s discussion and analysis of financial condition and results of operations (“MD&A”) focuses upon the activities, results of operations, liquidity and capital resources of Altan Nevada Minerals Limited (the “Company”) and its subsidiaries (the “Group”) for the year ended December 31, 2022. In order to better understand the MD&A it should be read in conjunction with the consolidated financial statements and related notes for the year ended December 31, 2022. The Group’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) and filed with appropriate regulatory authorities in Canada. This MD&A is current to April 28, 2023 and in US dollars unless otherwise stated.