We consider a single-band approximation to the random Schr6dinger operator in an external magnetic field. The random potential consists of delta functions of random strengths situated on the sites of a regular two-dimensional lattice. We characterize the entire spectrum of this Hamiltonian when the magnetic field is sufficiently high. We show that the whole spectrum is pure point, the energy coinciding with the first Landau level in the absence of a random potential being infinitely degenerate, while the eigenfunctions corresponding to energies in the rest of the spectrum are localized.