Mr. Jason Springett reports

ALTA VISTA REMOVES SIGNIFICANT DEBT FROM ITS BOOKS

Alta Vista Ventures Ltd. has agreed with certain consultants, directors and officers to settle outstanding indebtedness in the amount of $195,457.40 by the issuance of 3,909,148 units at a price of five cents per unit. Each unit consists of one share and one warrant. Each warrant entitles the holder to acquire one additional share at a price of 10 cents per share for a period of one year from the date of issuance. The shares forming part of the units and any shares acquired on exercise of the warrants will be subject to a hold period of four months plus one day from the date of issuance. The debt settlement arrangement is subject to acceptance by the Canadian Securities Exchange.

In addition, the company has agreed with certain consultants to a writedown of a total of $197,231.53 of indebtedness.

The company also announces that it has been notified by its wholly owned Mexican subsidiary, Minera Alta Vista SA de CV (MAV), that MAV has been successful in obtaining a judgment from the Tribunal Federal De Justicia Fiscal Y Administrativa to the effect that 1.2 million pesos (approximately $83,852) of outstanding employee taxes due have been declared null and void. MAV had been challenging these taxes as having been improperly applied for approximately a year, and the company had been required to carry that amount on its books during that period of time.

These agreements and successful judgment combine to remove $476,540.93 of outstanding indebtedness from the company's financial statements.

We seek Safe Harbor.