Mr. Michael Bennett reports

ALTAMIRA REPORTS TRENCHING RESULTS OF 29M @ 3.03G/T GOLD AT BALDO EAST TARGET, CAJUEIRO PROJECT, BRAZIL AND EXTENDS STRUCTURES

Altamira Gold Corp. continues to extend the strike extent of high-grade mineralized structures through its recent trenching program at the Baldo East target area at the Cajueiro project located in western Brazil. Highlights are as follows:

• Recent trenching has now excavated at least two continuous high-grade mineralized structures in the Baldo East area -- the northern most of these two structures is now referred to as Baldo East 1, whilst the zone immediately south of this is referred to as Baldo East 2.
• Trench TCBL-29 was excavated on the Baldo East 1 zone, 200 metres east of trench TCBL-19 which returned nine metres at 1.84 grams per tonne gold plus one metre at 13.33 g/t gold. Results from trench TCBL-29 include 10 m at 1.82 g/t gold and seven metres at 1.79 g/t gold including one metre at 7.23 g/t gold. Several other narrower mineralized sections were also noted. The Baldo East 1 zone now extends over approximately 900 metres and is still open along strike to the east.
• Trench TCBL-28 was developed on the more recently discovered Baldo East 2 zone, 200 metres east of trench TCBL-25 which cut three parallel brecciated zones and returned seven metres at 5.53 g/t, and two metres at 8.30 g/t. Results from trench TCBL-28 include 29 m at 3.03 g/t gold including seven metres at 5.42 g/t gold and four metres at 8.07 g/t gold. This structure has now been traced over 250 metres of strike and is open to both the east and west.
• Trenching at the Baldo East 1 zone, and specifically the completion of trench TCBL-29 has extended the Baldo East 1 zone an additional 200 m to the east extending the total strike length to more than 900 m. TCBL-29 was completed 200 m east of Trench TCBL-19 which returned nine m at 1.84 g/t plus one metre at 13.33 g/t gold. Results from trench TCBL-29 include:

• 10 m at 1.82 g/t gold;
• Plus four m at 1.07 g/t Au;
• Plus two m at 1.98 g/t Au;
• Plus two m at 1.36 g/t Au;
• Plus two m at 1.64 g/t Au;
• Plus seven m at 1.79 g/t Au including one metre at 7.23 g/t gold.

Work has continued on the Baldo East 2 zone, where previous trenching indicated the presence of parallel structures with one trench, TCBL-25, exposing apparently parallel structures 250 m (seven m at 5.53 g/t gold) and 425 m (two m at 8.30 g/t gold) south of the Baldo East 1 zone. Trench TCBL-28 was excavated approximately 220 m to the east and returned 29 m at 3.03 g/t gold including seven m at 5.42 g/t gold and four m at 8.07 g/t gold. This zone is believed to be the eastward extension to the zone which returned seven m at 5.53 g/t gold in Trench TCBL-25. Trench TCBL-28 did not extend south far enough to cut the zone which returned two m at 8.30 g/t in TCBL-25.

Commenting on these results, Mike Bennett, president and chief executive officer, stated: "We are very pleased with the recent trench and drill results from the Baldo East area, which have excavated at least two parallel high-grade structures which remain open along strike and at depth. We expect the Baldo East 1 and 2 zones will materially add to both the size and grade of the current resource at Cajuero."

The company follows industry-standard procedures with a quality assurance/quality control (QA/QC) program. Two blank, two duplicates and two standard samples were inserted in each batch of 40 samples. Sample preparation and analysis were done at SGS GEOSOL in Vespasiano, Minas Gerais state, Brazil. Analysis is performed by fire assay with 50-gram fusion and atomic absorption spectroscopy.

Crepori update and regional program

The company also announces that it has now completed the program of seven diamond drill holes at the Crepori project and results are pending. As a result of significantly increased competitor activity in the Juruena belt, the company has initiated an exploration program for copper. The program initially consists of a geophysical and regional compilation study with further details to be provided once this work has been completed.

About Altamira Gold Corp.

The company is focused on the exploration and development of gold deposits within western-central Brazil. The company holds 12 projects comprising approximately 200,000 hectares within the prolific Juruena gold belt that historically produced an estimated seven million to 10 million ounces of placer gold. The company's advanced Cajueiro project has a National Instrument 43-101-compliant resource of 8.64 million tonnes of 0.78 gram per tonne gold (for 214,000 ounces) in the indicated resource category and 9.53 million tonnes of 0.66 gram per tonne gold (for 204,000 ounces) in the inferred resource category as well as an additional 1.37 million tonnes of 1.61 grams per tonne gold in oxides (for 79,000 ounces in saprolite) in the inferred resource category.

Guillermo Hughes, PGeo, a consultant to the company as well as a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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