Mr. Michael Bennett reports

ALTAMIRA GOLD EXPANDS MINERALIZED PORPHYRY SYSTEM AT MARIA BONITA GOLD DEPOSIT, CAJUEIRO DISTRICT, BRAZIL

Altamira Gold Corp. has released assay results from additional exploration drilling immediately to the northwest of the existing Maria Bonita gold deposit.

Highlights:

• Two drill holes completed to the northwest and outside of the Maria Bonita gold resource have intersected wide zones of mineralized and altered rocks in both porphyry intrusive and adjacent volcanic tuff wall rocks. Drill hole MBA039 intersected 117 metres at 0.4 gram per tonne gold from surface in predominantly volcanic tuffs.
• Drill hole MBA038 returned 74 metres at 0.3 gram per tonne gold from 74 metres downhole associated with hydrothermal quartz veining, hosted in both porphyry and adjacent volcanic tuff wall rock.
• Both intercepts lie outside the current mineral resource and confirm potential to extend the mineral resource to the north and west and at depth.
• The volcanic tuffs intersected in holes MBA038 and MBA039 demonstrate that gold mineralization extends beyond the intrusive porphyry complex, further extending the potential for expanding the Maria Bonita gold deposit.
• Drilling is continuing, with hole MBA044 currently in progress.

President and chief executive officer Mike Bennett commented: "The two latest drill holes at Maria Bonita are important because they indicate that the mineralized system is significantly larger than we previously envisaged and extends west of the western margin of the current mineral resource. Drill holes MBA036 through MBA039 have each intersected wide zones of gold mineralization outside the current mineral resource boundary (including 130 m at 0.5 g/t gold in MBA036), progressively extending the system to the west. What makes MBA038 particularly significant is the gold mineralization preserved in the wall rock tuffs, outside the intrusive. This is very positive for our ongoing district exploration as mineralized veining clearly extends beyond the limits of the porphyry system at Maria Bonita, increasing its tonnage potential. We are actively progressing our drill evaluation of the western extension of the Maria Bonita mineral resource and look forward to reporting further results as drilling advances."

Cajueiro district

The Cajueiro district is located approximately 75 kilometres northwest of the town of Alta Floresta in the state of Mato Grosso in central western Brazil. The project is easily accessible by road, lies on open farmland, and has grid power and a local water supply. Cajueiro is the most advanced of the key projects that Altamira controls in the region.

The Cajueiro district consists of two independently estimated gold mineral resources at Cajueiro Central and Maria Bonita plus a series of eight additional untested exploration targets within a radius of eight kilometres of Cajueiro Central.

The Cajueiro Central area has a current open-pit resource of 5.66 million tonnes at 1.02 g/t gold containing 185,000 ounces in the indicated resource category and 12.66 million tonnes at 1.26 g/t gold (515,000 ounces) in the inferred resource category (estimated using a cut-off grade of 0.25 g/t Au and a gold price of $1,500 (U.S.) per ounce).

The Maria Bonita open-pit resource consists of indicated resources of 24.19 million tonnes at 0.46 g/t gold (357,800 ounces) and inferred resources of 25.64 million tonnes at 0.44 g/t gold (362,400 ounces). These resources were calculated using a cut-off grade of 0.2 g/t gold and a gold price of $2,780 (U.S.) per ounce. These resources include near-surface saprolite indicated resources of 2.02 million tonnes at 0.59 gram per tonne gold (38,000 ounces) and inferred resources of 680,000 tonnes at 0.40 g/t gold (8,700 ounces).

The Maria Bonita porphyry gold deposit forms part of a district-scale portfolio of prospects that are interpreted as having a similar geological origin. The Cajueiro area is characterized by a 15-kilometre stretch of former alluvial gold workings along the Teles Pires river. The source of some of this alluvial gold is related to a pronounced east-west corridor of gold anomalies in soils and rock chips and a set of subcropping intrusions extending east-west over eight kilometres, implying the presence of a long-standing and deep-seated reactivated crustal structure.

Maria Bonita drilling update

MBA038 and MBA039, the third and fourth drill holes in the company's follow-up drilling program aimed at extending the Maria Bonita mineral resource to the west, confirm that Maria Bonita extends beyond the limits of the existing National Instrument 43-101 mineral resource and optimized pit. Drilling is continuing.

In the northern part of the area recently drill tested, volcanic tuffs form the majority of the country rock. These tuffs are hydrothermally altered and are the hosts to local quartz veins and stockworks. These exo-intrusive vein zones, together with the early phases of the porphyry complex, represent the principal gold targets. The later porphyry pulses and the volcanic tuff wall rock, without hydrothermal veining, do not contain significant gold.

Core logging indicates that gold distribution within the intervals outlined in Table 1 for all holes is generally related to the frequency of hydrothermal quartz veining. Vein densities of two to four veinlets per metre of core are common within the porphyry and up to eight veins per metre in discrete sections of the wall rock tuffs. Quartz veins range from millimetric to 70 millimetres in true thickness.

Unlike the main early porphyry at Maria Bonita, the western early porphyry intercepts contain pyrite (up to 1 per cent by volume) plus magnetite. Alteration is mainly potassic in character, similar to the Maria Bonita early porphyry. Sulphide content appears to increase westward, which may signal an opportunity to map the mineralization through IP (induced polarization) chargeability surveys. The main Maria Bonita porphyry shows a resistivity anomaly but no discernible chargeability due to its very low sulphide content.

Gold grades within the mineralized sections of the porphyry have bulk grades around 0.5 g/t Au with peak values of one to two g/t Au (that is, the intervals are consistently mineralized with no apparent nugget effect). In the sections of drill holes MBA038 and MBA039 comprising later phases of porphyry, gold values are low, indicating waning mineralization as the hydrothermal system evolved.

In the adjoining wall rock tuffs (MBA038), quartz veining is found in discrete zones with higher average gold values than those in the porphyry. The 74-metre interval from 74 m downhole is mineralized throughout, with a peak one-metre sample value of 1.64 g/t Au. The notable higher values in the veined tuff zones at 110 m and 130 m may point to a potential earlier and better mineralized phase of porphyry located nearby but off-hole.

Mombaque prospect drilling update

Two scout drill holes completed at the Mombaque prospect targeted a gold-in-soil anomaly occurring in brecciated tuffs above an inferred magnetic intrusive body. This is a similar geological setting to that being tested in the western extensions of Maria Bonita (as reported above).

The target lies between magnetic and radiometric features mapped as younger syenogranites and large-scale regional gabbro dikes. The objective of the scout drilling was to test both the soil anomaly (MBQ001) and the underlying magnetic source (MBQ002).

Drill results (Table 2) show only narrow zones of low-grade gold in tuffs and intrusives. The magnetic felsic intrusive intersected in the lower part of hole MBQ002, which is inferred to be the source of the magnetic anomaly, does not contain significant gold in the area drill tested.

The 750-metre-long soil anomaly at Mombaque is not fully explained by the drill results. There remains the possibility that a fertile intrusive subcrops in the area and is obscured by tuff cover. The two drill holes are located 500 m apart. However, the current drill results reduce the likelihood of a scalable mineralized system at this target.

In the short term, the company plans to continue the drill testing of the western extensions of the Maria Bonita porphyry system to trace the prospective intrusions and their contacts with the wall rock tuffs so as to provide the basis for a mineral resource update.

Qualified person

Fernando Benegas, FAusIMM, a consultant to the company as well as a qualified person as defined by NI 43-101, supervised and approved the preparation of the technical information in this news release.

About Altamira Gold Corp.

The company is focused on the exploration and development of gold projects within western-central Brazil, strategically advancing four projects spanning over 900,000 hectares within the prolific Juruena gold belt -- an area that has historically yielded over six million ounces of placer gold. The company's advanced Cajueiro project contains two gold deposits. Continuing exploration and fieldwork at Cajueiro indicate the presence of multiple hard-rock gold occurrences, traceable from historical alluvial gold production, highlighting the region's exceptional gold endowment and potential scalability. With two independently established mineral resources, a highly prospective geological setting and a record of significant discoveries, the company is well positioned to unlock further value across its extensive land package.

Quality assurance/quality control

Drill holes commence in HQ diameter (63.5 mm) and proceed to the base of weathering where core diameter is reduced to NQ (47.6 mm). Logging and sampling are completed at a secure company facility located on site. Drill core is cut in half on site by a saw cut or slicer (in soft saprolite).

Until dispatch, samples are stored under the supervision the company's exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the company and archived. For all drilling, half core is submitted to SGS Geosol, a leading commercial laboratory in Brazil and analyzed for gold by 50-gram fire assay, plus a suite of other elements by the ICP atomic absorption method, using standard laboratory procedures. Soil and rock-chip samples follow the same analytical protocol.

Quality control of drill hole assays follows normal industry procedures of inserting control samples randomly into the submitted batch, comprising field duplicates, independent reference samples and blank samples. Selected batches of sample pulps are periodically resubmitted to a third party laboratory to check the main laboratory precision and accuracy. Drill hole results are quoted as downhole length weighted intersections.

We seek Safe Harbor.