Mr. Miguel Cardozo reports

ALTURAS MINERALS UPDATE ON THE EXPLORATION PROJECTS AND ANNOUNCES MANAGEMENT DEBT CONVERSION

Alturas Minerals Corp. has provided an update on the lease agreement with Sociedad Contractual Minera Resguardo, a Chilean mining exploration company, to lease and acquire 100 per cent of its Resguardo copper-gold project, located about 95 kilometres (km) northeast of Copiapo, in Region III of northern Chile, referred to as region de Atacama.

As disclosed in its Jan. 17, 2025, news release, the company did not fulfill its May 31, 2024, payment obligation with the optionor and the original agreement has lapsed. The parties have reviewed the different alternatives to renew the agreement and concluded that it was not feasible to do so. Deposits initially made to Resguardo totalling $25,000 have been redirected to other general and administrative expenses related to other Alturas operating expenses in Chile.

Alturas is currently in discussions with certain arm's-length parties to acquire interests in properties located in areas nearby the Resguardo property at more advantageous terms.

Conversion of Alturas debt with officers and directors

The company is in the final stages of negotiations that would settle the outstanding debt Alturas has with officers and directors. The amount accrued as of March 31, 2025, is approximately $3.2-million ($2.2-million (U.S.)), out of which approximately $660,000 would be converted into shares of the company and the remaining ($2.5-million) written off the books of Alturas. The transaction is subject to the approval of the TSX Venture Exchange.

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the indirect parent of the Peruvian company, Alturas Minerals S.A. (Alturas Peru), and of the Chilean company, Alturas Chile Ltda. (Alturas Chile). Alturas had been exploring various mineral projects in Peru between January, 2004, and 2020, and between 2012 and 2014 in Chile through its subsidiaries. After interrupting its exploration activities in Chile and Peru due to financial constraints, Alturas is now focusing on new business opportunities, including the initiation of mining operations in Chile.

Qualified person

Scott Jobin-Bevans (PhD, PMP, PGeo), an independent qualified person (QP) as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company. The QP, as part of his involvement as principal geoscientist with Caracle Creek International Consulting Inc., has visited the Resguardo copper project and has completed sufficient work to verify the historical information on the concessions, particularly regarding historical exploration, neighbouring companies and government geological work.

We seek Safe Harbor.