Alturas Minerals Corp.
TSX VENTURE : ALT
BVLAC : ALT

Alturas Minerals Corp.

May 19, 2010 16:54 ET

Alturas Minerals Provides Corporate Update

TORONTO, ONTARIO--(Marketwire - May 19, 2010) - Alturas Minerals Corp. (the "Company" or "Alturas") (TSX VENTURE:ALT)(BVLAC:ALT) announces that the Quarterly Interim Financial Statements and Management and Directors Analysis ("MDA") for the first quarter ended March 31, 2010 have now been filed, and are now available electronically on www.sedar.com.

The Company is pleased to announce the appointment of Mr. Roland Eschle to the Company´s Board of Directors. Mr. Eschle is a Swiss investment professional based in Zurich, where he obtained his masters degree from the University of Zurich. Over the last 20 years, he has worked for a number of financial institutions in Switzerland and the UK. For the last seven years he has specialized in the natural resources sector, both as an analyst, investment banker and fund manager. Mr. Eschle is Founder and Managing Director of Crimson Capital, a natural resources advisory boutique. He is also a Partner of P&C Global Wealth Management SA (Switzerland), where he is in charge of the P&C Global Gold & Natural Resources Fund. He is a member of the UK -based Association of Mining Analysts (AMA). The board welcomes Mr. Eschle to the board of directors. Mr. Andre Falzon resigned from the board of directors effective March 31, 2010, as previously disclosed in the company´s Management and Director´s Analysis for the fiscal year ended December 31, 2009 and dated March 23, 2010.

The Company also announces that Mr. Paul Pearson has resigned from the position as President and CEO of Alturas, effective June 15, 2010 for personal reasons. Mr. Miguel Cardozo, Chairman of the Board (and former President and CEO), will temporarily serve in this role until the Board completes the process of appointing Mr. Pearson's successor. Mr. Cardozo commented "We would like to thank Mr. Pearson for his contributions to the Company since inception and we wish him success in the future". Mr. Pearson remains a Director of Alturas.

In further news, the Company announces that options to acquire 2,330,000 common shares of the Company have been granted to directors and officers (2,000,000) and employees (330,000) of the Company. The options have a term of five years, and are exercisable at a price to be set at the market closing price of the Company´s stock one day after issue of this announcement (May 20, 2010). The options will vest over two years, with one-half vested immediately, and the final one-half one year thereafter.

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the parent of Alturas Minerals S.A. ("Alturas Peru") and Alturas Minerals Chile Ltda ("Alturas Chile"). Alturas' exploration strategy is focused on the discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits in Peru and Chile.

Alturas Peru has been actively exploring various mineral projects in Peru since January 2004. Alturas' properties include four drill-ready mineral exploration projects located in central and southern Peru, which includes the Chapi Chapi-Utupara Copper-Gold Project, the Sombrero Copper-Gold Project, the Ccaccapaqui Gold-Silver Project and the Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru has interests in four other exploration projects in Peru.

Alturas Chile has recently entered into a Final Option Agreement to acquire 100% of the La Corina copper-gold porphyry property in northern Chile. Drilling of the property is programmed for the second quarter of 2010.

Should you wish to receive Company news via email, please email contact@alturasminerals.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.

Contact Information

  • Alturas Minerals Corp.
    + 51-1-652 4691 (Peru)
    investor@alturasminerals.com
    www.alturasminerals.com
    or
    Alturas Minerals Corp.
    Suite 3100, Scotia Plaza, 40 King St. W.
    Toronto, ON Canada M5H 3Y2
    or
    Alturas Minerals Corp.
    Calle Francisco de Zela # 2579
    Int. D, Lince, Lima 14, Peru