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Altamira Gold Defines New, High-Ranking Gold Target (Guillermo) with Surface Grab Sample of 39g/t Gold, within the Cajueiro District

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Altamira Gold (TSXV: ALTA, OTC: EQTRF) has discovered a new gold target called Guillermo within the Cajueiro district. The target, located 2.5 km north-east of the Central Resource area, revealed significant findings including:

- A rock grab sample containing 39g/t gold from altered intrusive rocks
- A second grab sample yielding 1.1 g/t gold
- Surrounding historic placer gold workings
- Soil sampling values up to 845ppb gold

The Guillermo target is the third new gold target discovered in the area, following Mombaque and Espirro. The Cajueiro project currently has NI 43-101 resources of 185,000 oz in Indicated category (5.66Mt @ 1.02 g/t gold) and 515,000 oz in Inferred category (12.66Mt @ 1.26 g/t gold).

Altamira Gold (TSXV: ALTA, OTC: EQTRF) ha scoperto un nuovo obiettivo aurifero chiamato Guillermo all'interno del distretto Cajueiro. L'obiettivo, situato a 2,5 km a nord-est dell'area Centrale delle Risorse, ha rivelato scoperte significative, tra cui:

- Un campione di roccia che contiene 39g/t di oro da rocce intrusive alterate
- Un secondo campione di roccia che ha fornito 1,1 g/t di oro
- Lavori storici di estrazione aurifera al lotto circostante
- Valori di campionamento del suolo fino a 845ppb di oro

Il target Guillermo è il terzo nuovo obiettivo aurifero scoperto nella zona, dopo Mombaque ed Espirro. Il progetto Cajueiro attualmente ha risorse NI 43-101 di 185.000 oz nella categoria Indicated (5.66Mt @ 1.02 g/t di oro) e 515.000 oz nella categoria Inferred (12.66Mt @ 1.26 g/t di oro).

Altamira Gold (TSXV: ALTA, OTC: EQTRF) ha descubierto un nuevo objetivo de oro llamado Guillermo dentro del distrito Cajueiro. El objetivo, ubicado a 2.5 km al noreste del área Central de Recursos, ha revelado hallazgos significativos, incluyendo:

- Una muestra de roca que contiene 39g/t de oro de rocas intrusivas alteradas
- Una segunda muestra que arroja 1.1 g/t de oro
- Trabajos históricos de extracción de oro aluvial circundantes
- Valores de muestreo del suelo de hasta 845ppb de oro

El objetivo Guillermo es el tercer nuevo objetivo de oro descubierto en el área, después de Mombaque y Espirro. El proyecto Cajueiro actualmente tiene recursos NI 43-101 de 185,000 oz en la categoría Indicada (5.66Mt @ 1.02 g/t de oro) y 515,000 oz en la categoría Inferida (12.66Mt @ 1.26 g/t de oro).

Altamira Gold (TSXV: ALTA, OTC: EQTRF)는 Cajueiro 지역 내 새로운 금 목표인 Guillermo를 발견했습니다. 이 목표는 중앙 자원 지역에서 북동쪽으로 2.5㎞에 위치하고 있으며, 다음과 같은 중요한 발견을 나타냈습니다:

- 변성이 있는 침입암에서 채취한 암석 샘플에서 39g/t 금 발견
- 두 번째 샘플에서 1.1g/t 금 발견
- 주변의 역사적인 플래서 금 작업
- 최대 845ppb 금을 포함한 토양 샘플링 값

Guillermo 목표는 Mombaque 및 Espirro에 이어 이 지역에서 발견된 세 번째 새로운 금 목표입니다. 현재 Cajueiro 프로젝트는 NI 43-101 기준으로 185,000 온스의 추정 자원(5.66Mt @ 1.02 g/t 금)과 515,000 온스의 추정 자원(12.66Mt @ 1.26 g/t 금)을 보유하고 있습니다.

Altamira Gold (TSXV: ALTA, OTC: EQTRF) a découvert un nouvel objectif aurifère appelé Guillermo dans le district de Cajueiro. L'objectif, situé à 2,5 km au nord-est de la zone des ressources centrales, a révélé des découvertes significatives, y compris :

- Un échantillon de roche contenant 39g/t d'or provenant de roches intrusives altérées
- Un deuxième échantillon yielding 1,1 g/t d'or
- Des travaux historiques d'orpaillage en placer aux alentours
- Des valeurs d'échantillonnage de sol allant jusqu'à 845ppb d'or

L'objectif Guillermo est le troisième nouvel objectif aurifère découvert dans la région, après Mombaque et Espirro. Le projet Cajueiro dispose actuellement de ressources NI 43-101 de 185 000 oz dans la catégorie Indicated (5,66Mt @ 1,02 g/t d'or) et de 515 000 oz dans la catégorie Inferred (12,66Mt @ 1,26 g/t d'or).

Altamira Gold (TSXV: ALTA, OTC: EQTRF) hat ein neues Goldziel namens Guillermo im Cajueiro-Distrikt entdeckt. Das Ziel, das 2,5 km nordöstlich des Zentralen Ressourcenbereichs liegt, hat bedeutende Funde offenbart, darunter:

- Eine Gesteinsprobe, die 39g/t Gold aus veränderten intrusiven Gesteinen enthält
- Eine zweite Probe, die 1,1 g/t Gold ergab
- Umgebende historische Goldschürfarbeiten bei Placer
- Bodenprobenwerte von bis zu 845ppb Gold

Das Guillermo-Ziel ist das dritte neue Goldziel, das in der Region entdeckt wurde, nach Mombaque und Espirro. Das Cajueiro-Projekt hat derzeit NI 43-101-Ressourcen von 185.000 Unzen in der Kategorie Indicated (5.66Mt @ 1.02 g/t Gold) und 515.000 Unzen in der Kategorie Inferred (12.66Mt @ 1.26 g/t Gold).

Positive
  • High-grade gold discovery with 39g/t gold in grab sample
  • NI 43-101 compliant resource of 185,000 oz Indicated and 515,000 oz Inferred
  • Third new gold target identified in three months
  • Project has existing infrastructure with road access, grid power, and water supply
Negative
  • None.

Vancouver, British Columbia--(Newsfile Corp. - December 11, 2024) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) ("Altamira" or the "Company"), is pleased to announce the discovery of a new gold target, identified as part of the ongoing exploration program within the Cajueiro district which is targeting porphyry-related gold mineralization.

Highlights:

  • Geological mapping, soil sampling and trenching at the Guillermo target, 2.5 km to the north-east of the Central Resource area within the Cajueiro mineralized district has identified a new high-ranking potential porphyry target. The gold-in-soil anomaly is open to the east and is surrounded on all sides by historic placer gold workings.
  • Rock grab sampling within the gold-in-soil anomaly of altered intrusive rocks, containing hydrothermal quartz veining and oxidized pyrite, returned 39g/t gold. A second grab sample from the same locality returned 1.1 g/t gold.
  • The identification of another gold target brings the number of new gold targets within a defined belt east of the Maria Bonita porphyry to three (Mombaque, Espirro and Guillermo). Thus far, only the Maria Bonita porphyry target has been drilled with initial drill results up to 146m @ 1g/t gold.

CEO Mike Bennett commented; "Our progressive surface program in the Cajueiro district continues to identify exciting new gold targets through a combination of mapping, soil and rock sampling, plus drone magnetics. The Guillermo target is located 2.5 km to the north-east of the Cajueiro Central Resource area and was identified by a partially completed soil grid. Anomalous soil samples were followed up to reveal gold mineralization in rock grab samples on surface and subsequent trenching has exposed a quartz vein stockwork within altered felsic to intermediate volcanics and felsic porphyritic dykes. Guillermo is the third new gold target discovered in the last three months following the drilling of the Maria Bonita gold porphyry discovery and continues to suggest the presence of a significant district-scale potential in the Cajueiro area."

CAJUEIRO PROJECT

The Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso (Figure 1) in central western Brazil and is easily accessible by road and has grid power and a local water supply. Cajueiro is the most advanced of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena (Figure1).

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Figure 1: Location of the Cajueiro, Apiacas and Santa Helena projects.

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https://images.newsfilecorp.com/files/4500/233318_1ced2015a4bd9a60_001full.jpg

The Cajueiro project has current NI 43-101 resources* of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category.

Reconnaissance drilling at the Maria Bonita target, located 7km west of the Cajueiro Central Mineral Resource, identified the first gold porphyry discovery at Cajueiro and returned gold values up to 146m @ 1g/t gold (see press release dated May 22, 2024).

Guillermo Target

The Guillermo target is located 2.5km north-east of the Cajueiro Mineral Resource and 8.7km east of the Maria Bonita gold porphyry (Figure 2). This area is also located 1.2km east of the Morro Verde target. A single prior scout drillhole at the Morro Verde target (CAJ-098 drilled in 2017) was re-examined as part of the ongoing exploration programme and found to contain an intrusive breccia body in the lowermost 110m of the hole, indicating proximity to a centre of hydrothermal activity.

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Figure 2: Cajueiro project area showing the location of the existing Cajueiro Mineral Resource, the Maria Bonita discovery, and the Mombaque, Espirro and Guillermo targets.

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Figure 2 shows historic placer workings surrounding the Guillermo target, with currently no known hard-rock source. Similar historic placer gold workings are related to the Mombaque and Espirro targets located between the Cajueiro and Maria Bonita drilled areas. At Guillermo, the alluvial workings form an almost complete circle around the prospect, implying that gold is shedding in various directions into the local drainages.

The Guillermo target was identified as the highest priority geophysical target by consultant geophysicist Guillermo Rodriguez, using proprietary aeromagnetics and radiometrics acquired by the Company. These anomalies are currently being re-flown using a Company owned and operated drone magnetometer to further define the anomalies and provide additional input to target ranking for ground follow-up.

Within the recently opened trenches (Figure 3), the extension of observed north-east structural trends correlates with the upper limit of alluvial workings, approximately 1.2km north of the trench locations.

An incomplete soil grid identifies the western part of the Guillermo target (Figure 3). Soil values up to 845ppb gold were recorded in the original survey, conducted with a sample spacing of 100 by 25m. Anomalies were detected on four adjacent lines (300m east-west). The soil grid is currently being extended to the east.

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Figure 3: Cajueiro gold-in-soil grid sampling showing the location of the Guillermo target. Note also the position of the Tavares North soil anomaly (undrilled) which may represent a faulted offset of the Baldo sector of the Cajueiro resource.

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Follow-up mapping and sampling of the Guillermo target identified significant areas of stockwork quartz veining in volcanic and intrusive porphyritic rocks (see Figures 4 and 5). Results were returned on an initial six surface grab samples. Noting that surface grab samples are not representative of bulk grade, the results included one sample of 39g/t gold and another of 1.1g/t gold in sericitized and quartz veined volcanics.

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Figure 4: Stockwork veining in the eastern wall of the initial trench excavated at Guillermo target. Note geological hammer for scale.

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Figure 5: Grab rock samples hosting 39g/t Au from Guillermo target.

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The Company is awaiting the results of sampling of the initial trenches over the Guillermo gold-in-soil anomaly and is conducting drone magnetics to assist in identifying a near-term scout drill target. The combination of, an unexplained alluvial gold source, hydrothermally altered volcanics overprinted by felsic porphyritic intrusives, an open-ended soil anomaly and high-grade gold in outcrop, plus stockwork hydrothermal quartz veining in two new trenches comprise a potentially significant new target for drill testing.

Qualified Person

Guillermo Hughes, FAIG and M AusIMM., 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.

About Altamira Gold Corp.

The Company is focused on the exploration and development of gold and copper projects within western central Brazil. The Company holds 6 projects comprising approximately 190,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category.

On Behalf of the Board of Directors,

ALTAMIRA GOLD CORP.

"Michael Bennett"

Michael Bennett
President & CEO

Tel: 604.676.5660
Toll-Free:1-833-606-6271
info@altamiragold.com
www.altamiragold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities described herein have not been registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act and any applicable state securities laws.

Forward-looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the extension of the Warrants. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "intends" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

Notes

Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. 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. Drill holes results are quoted as down-hole length weighted intersections.

* NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, October 10, 2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233318

FAQ

What are the gold grades found at Altamira's new Guillermo target (EQTRF)?

At the Guillermo target, rock grab sampling returned 39g/t gold in one sample and 1.1 g/t gold in a second sample from altered intrusive rocks containing hydrothermal quartz veining.

Where is the new Guillermo gold target located relative to Altamira's (EQTRF) existing resources?

The Guillermo target is located 2.5km north-east of the Cajueiro Mineral Resource and 8.7km east of the Maria Bonita gold porphyry.

What is the current NI 43-101 resource at Altamira's (EQTRF) Cajueiro project?

The Cajueiro project has NI 43-101 resources of 5.66Mt @ 1.02 g/t gold (185,000 oz) in the Indicated category and 12.66Mt @ 1.26 g/t gold (515,000 oz) in the Inferred category.

How many new gold targets has Altamira (EQTRF) identified in the Cajueiro district?

Altamira has identified three new gold targets within a defined belt east of the Maria Bonita porphyry: Mombaque, Espirro, and Guillermo.

ALTAMIRE GOLD CORP ORD

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