Dr. Miguel Cardozo reports

ALTURAS MINERALS COMPLETES $2.2 MILLION FINANCING

Alturas Minerals Corp. has accepted subscription forms from a non-brokered financing of $2,212,944.51 working capital. Funds raised will be used to advance exploration of the company's Peru and Chile copper-gold mineral projects and for general working capital.

Alturas placed 10,537,831 working capital units of the company at a price of 21 cents per unit, for gross proceeds of $2,212,944.51. Each unit consisted of one common share of the company and one-half of a share purchase warrant. Each warrant entitles the holder to acquire an additional common share at 32 cents until the date which is the earlier of: (i) 12 months from the closing date; or (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least 42 cents for 10 consecutive trading days, and the 10th trading day (the final trading day) is at least four months from the closing date, the date which is 30 days from the final trading day (the first closing date).

The company paid finder's fees to Kallpa Securities SAB of 6 per cent of the funds raised and broker warrants equivalent to 6 per cent of the units issued. Each broker's warrant would enable the holder to acquire common shares at a price of 32 cents per share for a period 12 months from closing. The broker warrants will also be subject to the acceleration clause as stated above. Kallpa is a Lima-based corporation dedicated to equity and fixed income sales, and trading and investment banking in general, and acted as the agent to offer Alturas's shares in Peru.

The securities are subject to a hold period and may not be traded until June 25, 2011, except as permitted by Canadian securities legislation and the TSX Venture Exchange.

Dr. Miguel Cardozo, president and chief executive officer, said: "The $2.21-million financing adds to the $4.04-million private placement closed in November, 2010, and gives Alturas an excellent financial position to aggressively progress the drill programs on two of its most advanced copper-gold projects, Utupara-Chapi Chapi and Sombrero, and to continue systematic exploration work in a number of its other promising properties. After having recently signed a new two-year agreement with the Huaquirca community, an environmental baseline study has been completed in the Chapi Chapi area, and geological-geophysical work is programmed to start in March, followed by 5,000 metres of drilling to be commenced at Chapi-Chapi by the end of May, 2011."

We seek Safe Harbor.