Helius Minerals Limited — Capital/Financing Update 2021

Dec 24, 2021

FORM 51-102F3 MATERIAL CHANGE REPORT

1. Name and Address of Company

Altan Nevada Minerals Limited (the " Company " or " Altan Nevada ") Suite 1700, 666 Burrard Street Vancouver, BC V6C 2X8

2. Date of Material Change

December 24, 2021.

3. News Release

The news releases issued with respect to the material change was disseminated through Stockwatch on December 24, 2021 and subsequently filed under the Company's profile on SEDAR.

4 Summary of Material Change

The Company closed a non-brokered private placement to raise gross proceeds of $471,259 through the sale of 47,125,926 common shares of the Company (the " Shares ") at a price of $0.01 per Share (the " Offering ").

5. Full Description of Material Change

5.1.

Full Description of Material Change

Private Placement

On December 24, 2021, the Company closed the Offering for gross proceeds of $471,259 through the sale of 47,125,926 Shares.

In connection with the Offering, the Company will complete a share consolidation within 90 days of closing that will result in a market price of not less than $0.05 per Share.

Subject to the approval of the TSX Venture Exchange, the Company will pay the following finder's fees in connection with the Offering: Canaccord Genuity (Australia) Limited ($12,000), Parkwise Corporation Pty Ltd ($2,400), Avalancia Pty Ltd ($3,600), International Research Corporation Pty Ltd ($6,255.56) and Research Capital Corporation ($1,200).

The Shares issued under the Offering will be subject to a statutory hold period expiring on April 25, 2022.

5.2. Disclosure for Restructuring Transactions

Not applicable.

6. Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

Not applicable.

7. Omitted Information

Not applicable.

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8. Executive Officer

Inquiries in respect of the material change referred to herein may be made to:

Paul Stephen, CEO Telephone: +61 9322 1788 / email: ps@altnev.com

9. Date of Report

December 24, 2021.

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