Altamira Gold Corp. Increases Strategic Land Position in the Middle of a Brazilian Copper Porphyry Staking Rush

During September 2017, two major mining companies, Anglo American & Nexa Resources acquired over 3M hectares of claims, largely surrounding Altamira's twelve projects (see press release dated 21^st February 2018). The catalyst for this staking rush is a rumored porphyry copper discovery in the eastern part of the Juruena Belt.

Figure 1: Altamira Increases Land Positioning at Fazenda Mogno and Santa Helena in Mato Grosso, Brazil

To view an enhanced version of Figure 1, please visit:
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The new claims are in areas where the Company already has small existing land positions, namely Fazenda Mogno and Santa Helena (see map). The largest of the two new areas was at Fazenda Mogno where the land position has increased to a total of 41,945 hectares. The Santa Helena project has also been expanded and now comprises a total of 21,039 Ha and is the Company's closest project to the newly discovered copper porphyry at the Jaca Target.

Altamira is also pleased to announce the commencement of a copper exploration program at the Santa Helena Project located in eastern part of the Juruena belt in central Brazil. The project is characterized by gold mineralization on surface which Altamira believes may be related to a concealed porphyry copper system.

Michael Bennett, President and CEO of Altamira stated "The discovery of the first ever copper porphyry in the Juruena belt is significant because porphyry copper deposits generally occur in clusters or belts. Where there is one, there are usually others. Gold deposits are frequently found peripheral to major porphyry copper systems and it may be that most of the gold occurrences in the belt are peripheral to yet unrecognized porphyry copper systems. We are excited to be the only junior with claims strategically situated in the heart of the belt and look forward to the results of our ongoing exploration program. We will continue to expand our gold project at Cajueiro whilst pursuing an aggressive exploration program aimed at identifying concealed copper porphyry mineralization."

About Altamira Gold Corp.

The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 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 an NI 43-101 resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred Resource category (Gustavson Associates, 2016).

On Behalf of the Board of Directors,

ALTAMIRA GOLD CORP.

"Michael Bennett"

Michael Bennett
President & CEO

Tel: 604.676.5660
info@altamiragold.com

Guillermo Hughes, P. Geo., 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.

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

Forward-Looking Statements

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward-looking statements.