Mr. Fayyaz Alimohamed of Altair reports

ALTAIR AMENDS OPTION AGREEMENT ON BC PROPERTY

Altair Ventures Inc. has amended its option agreement dated July 20, 2009, with Consolidated Spire Ventures Ltd., pursuant to which Altair has an option to earn up to a 90-per-cent interest in the Prospect Valley gold property, located within the Spences Bridge gold belt in Southern British Columbia.

The Prospect Valley (PV) gold property covers 10,796 hectares and contains a low-grade, bulk-tonnage gold target with quartz vein stockwork-type mineralization. It is road accessible, approximately three hours driving time from Vancouver and in close proximity to good infrastructure near Merritt, B.C.

The total option commitments under the agreement are unchanged, but the timing of the commitments has been deferred in each category.

Revised commitments

To earn a 70-per-cent interest in the PV property, Altair will:

• Spend a total of $6-million in exploration over five years:
  • $300,000 by June 30, 2010 (incurred);
  • An additional $1.2-million by Nov. 30, 2011;
  • An additional $1-million by Nov. 30, 2012;
  • An additional $1.5-million by Nov. 30, 2013;
  • An additional $2-million by Nov. 30, 2014;
• Issue seven million common shares to Spire:
  • One million common shares upon signing of the option agreement (issued);
  • One million common shares by Sept. 30, 2010 (issued);
  • One million common shares by Nov. 30, 2011;
  • One million common shares by Nov. 30, 2012;
  • One million common shares by Nov. 30, 2013;
  • Two million common shares by Nov. 30, 2014.

In addition, Altair's obligation to make a $150,000 cash payment to Spire has been deferred to Nov. 30, 2014.

Upon earning the first 70-per-cent interest in the PV property, Altair can then earn an additional 20-per-cent interest upon delivering a bankable feasibility study.

If, at any time, Altair has spent a minimum of $3-million and issued four million common shares, it will have earned a 51-per-cent interest in the PV property.