An anonymous director reports

ALTURAS ANNOUNCES DEBT SETTLEMENT

Alturas Minerals Corp. has entered into agreements to settle an aggregate of $826,134.24 of debt owed to certain insiders of the company and third party contractors in consideration for the issuance of 16,522,865 common shares of the company at a deemed price of five cents per share pursuant to the minimum pricing rules of the TSX Venture Exchange. A total of $515,815 of the debt is held by current and former insiders of the company and includes management fees, director fees and loans made to the company dating back to July, 2013. Insiders and former insiders will receive a total of 10,316,306 common shares on completion of the debt settlement. The disinterested directors of the company have approved the debt settlements with the respective insiders and their associates and affiliates.

The debt settlement is subject to TSX-V approval. Closing of the debt settlement will occur immediately following approval from TSX-V.

The insider debt settlements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the company to be issued to insiders does not exceed 25 per cent of its market capitalization.

In addition, the company wishes to announce that it has granted 10.5 million options exercisable at five cents for five years to two officers, three directors and one employee of the company.

All securities issued pursuant to the debt settlements referenced herein are subject to a statutory four-month hold period and regulatory approval.

About Alturas Minerals Corp.

Alturas is a Canadian corporation and is the indirect parent of the Peruvian company, Alturas Minerals SA, and of the Chilean company, Alturas Chile Ltda. Alturas Peru has been exploring various mineral projects in Peru since January, 2004, and has the Huajoto project and the Sombrero project, with the latter optioned to Auryn Resources Inc.; both projects are at a drilling stage. Alturas also entered into a transfer agreement on its Pampa Colorada property in northern Peru with Origen Group SAC but maintains royalty rights and a clawback clause on 60 per cent to 100 per cent of the mining rights under certain conditions (see press release dated Jan. 5, 2012). In 2014, Alturas interrupted its exploration activities in Chile and is focused in maintaining its exploration projects in Peru.

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