Alturas Minerals Corp.
TSX VENTURE : ALT

Alturas Minerals Corp.

April 27, 2007 09:17 ET

Alturas Announces Financing of up to $10 Million

TORONTO, ONTARIO--(CCNMatthews - April 27, 2007) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Alturas Minerals Corp. (TSX VENTURE:ALT) announced today that the Company has signed an agreement with Raymond James Ltd. ("Raymond James"), providing for Raymond James along with CIBC World Markets to act as agents (the "Agents") to raise up to $10 million dollars Canadian by way of a best efforts private placement offering of units (the "Units"). Each Unit will consist of one common share of the Company (a "Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share for a period of 18 months from the closing of the offering.

The price of the Units, and the exercise price of the Warrants, will be negotiated between Raymond James and Alturas. The closing date of the private placement is anticipated to be on or about May 23, 2007.

The Agents will receive a cash commission of 7% of the gross proceeds of the offering on closing, together with compensation options equal in number to 7% of the Units sold under the offering, which compensation options shall entitle the Agents to purchase of Units at the offering price for a period of 18 months after closing.

Dr. Miguel Cardozo, President and CEO said "We are very pleased with the work we have done so far this year on our advanced gold and copper-gold projects in Peru. The proceeds from this financing are expected to allow us to quickly and aggressively progress the drill programs on two of our most advanced projects, Utupara and Banos del Indio, to initiate systematic exploration work in a number of our other promising properties, and to provide working capital".

The offering is subject to the satisfaction of certain conditions including, but not limited to, the receipt of all regulatory approvals.

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the parent of Alturas Minerals S.A. ("Alturas Peru"). Alturas Peru has been actively exploring various mineral projects in Peru since January 2004. The principal assets of Alturas are four mineral exploration projects located in southern Peru, being the Huilacollo Gold Project, the Banos del Indio Gold Project, the Utupara Copper-Gold Project and the Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru has interests in fourteen other exploration projects in Peru. Alturas' exploration strategy is focused on the discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits. For further information, please visit the Company's website at www.alturasminerals.com.

Should you wish to receive Company news via email, please email catarina@chfir.com and specify "Alturas News" in the subject line

Cautionary Language and Forward Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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