Altima Resources Ltd.

Altima Resources Ltd.

November 21, 2011 14:56 ET

Altima Reports on Operations at Chambers-Ferrier and Rainbow Lake Areas, Alberta

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2011) - Altima Resources Ltd. (TSX VENTURE:ARH)(PINK SHEETS:ARSLF)(FRANKFURT:AKC) reports as follows:

Chambers-Ferrier, Alberta

The 14-6-41-10W5M well commenced production on October 12, 2011 and continues to produce through a restricted choke as well production rates stabilize. Production for the first 12 days of November averaged 1.05MMcf/d and 41 bpd condensate at the well head. The well is produced through the ConocoPhillips Chambers gas gathering system to the Keyera deep cut plant in Strachan, Alberta for liquids removal and sales. The Company expects a minimum additional 15 barrels of liquids per 1MMcf obtained from the natural gas at the plant. Altima holds a 19.3545% interest in the subject well in addition to sections 5 and 6 Twp. 41 Range 10 W5M and the 6-5-41-10W5M well approximately one mile to the east.

Rainbow Lake, Alberta

The Rainbow 13-11-111-5W6M well spud on November 19, and will drill to a total depth of approximately 1,672 meters. The Company anticipates completion within 30 days from spud. Refer also to the Company's News Release dated August 23, 2011.


Richard Switzer, President and CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian provincial securities legislation (together, "forward-looking statements"). Forward-looking statements include, but are not limited to, statements with respect to the terms and conditions of, the completion of and the use of proceeds of the proposed transactions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. 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. Altima disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its 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.

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