Mr. Fayyaz Alimohamed reports

ALTAIR ANNOUNCES PROPOSED PRIVATE PLACEMENT

Altair Ventures Inc. plans to raise up to $749,000 in a non-brokered private placement financing. The offering consists of up to 3.3 million in flow-through units at 16 cents per FT unit for gross proceeds of up to $528,000 and up to 1.7 million in non-flow-through units at 13 cents per unit for gross proceeds of up to $221,000. Each FT unit and each unit will consist of one common share and one-half of a common share purchase warrant. Each full warrant included in the FT units will entitle the holder to purchase one additional Altair common share for 23 cents, and each full warrant included in the units will entitle the holder to purchase one additional Altair common share for 20 cents. All of the warrants will be exercisable for a period of 12 months from the closing date of the offering. Finders' fees may be payable on all, or part, of the offering.

The net proceeds of the offering will be used by Altair to finance expenditures on the Prospect Valley gold property, located in Southern British Columbia, under Altair's option agreement with Consolidated Spire Ventures Ltd., and for general working capital purposes.

The offering is subject to acceptance by the TSX Venture Exchange.