Mr. Michael Bennett reports

ALTAMIRA GOLD DRILLS 130M at 0.5G/T GOLD IN STEP-OUT HOLE 110M NORTH OF THE MARIA BONITA MINERAL RESOURCE, WITHIN THE CAJUEIRO DISTRICT, BRAZIL

Altamira Gold Corp. has released assay results from a second recent exploration diamond drill hole outside the Maria Bonita mineral resource.

Highlights:

• Scout drill hole MBA037 intersected a wide interval of gold mineralization within porphyritic and tuffaceous host rocks and is located 110 metres north of the edge of the current Maria Bonita mineral resource. It is also 300 metres north of drill hole MBA036.
• MBA037 returned nine metres at 0.7 gram per tonne gold from 39 m and 130 m at 0.5 g/t gold from 97 m down hole. The latter interval includes 40 m at 0.8 g/t gold from 100 m down hole depth.
• The style of mineralization is similar to the early stage quartz vein and stockwork mineralization found in the core of the Maria Bonita mineral resource and previously encountered in drill hole MBA036.
• This intercept suggests that the Maria Bonita gold deposit is open to the west and now the north and also at depth.

Chief executive officer Mike Bennett commented: "The latest two drill holes completed at Maria Bonita have exceeded our expectations and were both drilled outside the current resource envelope. The results from drill holes MBA036 and MBA037 suggest that the porphyry-hosted gold deposit at Maria Bonita remains open to the west and also to the north. The distance between the two stepout holes is approximately 300 metres, and possible mineralized extensions of these blocks need to be tested both to the north and to the south. The mineralization demonstrates the same consistency over wide intervals as that seen in the early phase porphyry in the core of the Maria Bonita mineral resource. Further drill holes are being planned in order to determine the continuity and extent of these new mineralized zones within the Maria Bonita porphyry system."

Cajueiro district

The Cajueiro district is located approximately 75 kilometres northwest (NW) 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 resource1 of 5.66 Mt (million tonnes) at 1.02 g/t gold containing 185,000 ounces in the indicated resource category and 12.66 Mt at 1.26 g/t gold (515,000 oz) 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.)/oz).

The Maria Bonita open-pit resource consists of indicated resources of 24.19 Mt at 0.46 g/t gold (357,800 oz) and inferred resources of 25.64 Mt at 0.44 g/t gold (362,400 oz). These resources were calculated using a 0.2 g/t gold cut-off grade and a gold price of $2,780 (U.S.)/oz. These resources include near-surface saprolite indicated resources of 2.02 Mt at 0.59 g/t gold (38,000 oz) and inferred resources of 0.68 Mt at 0.40 g/t gold (8,700 oz).

The Maria Bonita porphyry gold deposit forms part of a district-scale portfolio of prospects that are interpreted as having a similar geological origin.

Maria Bonita drilling update

Three diamond drill holes have now been completed to the west and north and outside of the defined mineral resource. Hole MBA037 is the second hole and confirms the existence of early porphyry containing zones of good quartz vein development from a relatively shallow depth of 95 m down hole (78 m vertical). Interestingly, the gold mineralization is hosted in both the porphyritic intrusive and in the tuffaceous wall rocks. The hole intersected nine m at 0.7 g/t gold from 39 m and 130 m at 0.5 g/t gold from 97 m down hole including 40 m at 0.8 g/t gold from 100 m down hole depth. The hole was collared 55 m north of the northern boundary of the optimized pit developed on the mineral resource and was drilled with an azimuth of 340 degrees and a dip of 55 degrees. The mineralized interval is located 110 m north of the edge of the current Maria Bonita mineral resource.

Mineralization occurs within a wide interval of quartz veined porphyry mineralization similar to the early stage quartz vein and stockwork mineralization found in the core of the Maria Bonita mineral resource and that found in MBA036.

Next steps

The company is actively extending the drill coverage on these new targets with stepout holes to the north to trace the extent of the newly discovered blocks of mineralized porphyry.

Qualified person

Fernando Benegas, FAusIMM, a consultant to the company as well as a qualified person as defined by National Instrument 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 100,000 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 millimetres) 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 g 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.

We seek Safe Harbor.