Alturas Minerals Corp.

Alturas Minerals Corp.

September 18, 2007 10:03 ET

Alturas Reports on the Huajoto Polymetallic Project, Peru

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2007) - Alturas Minerals Corp. (the "Company") (TSX VENTURE:ALT) today provided an update on exploration of the Huajoto polymetallic project in southern central Peru.

The surface exploration campaign at Huajoto is scheduled to start in September, 2007. The program will include detailed geochemical sampling and routine analysis for a larger range of elements, including uranium. This will be complemented with an extensive geophysical program including ground gravity, magnetic, radiometric and induced polarization/resistivity surveys. Existing ground geophysical data previously collected by Teck Cominco Limited's Peruvian subsidiary ("Teck Cominco") are being reprocessed by Alturas's consultants. Alturas plans to commence drilling at Huajoto during 2008.

Miguel Cardozo, President & CEO, commented, "We are pleased to report that the formal Huajoto Option agreement has recently been executed with our partners Teck Cominco and Compaa Agregados Calcareos S.A. ("COMACSA") and that systematic exploration will commence this month. Huajoto is the fourth of Alturas's principal projects. We are very encouraged by the mineral potential of this very large system. Besides the gold potential in the core of the system, strongly anomalous zinc, lead, gold, silver and rare earths were identified over large areas in the previous geochemical sampling conducted by Teck Cominco during 1999-2001. In addition, an airborne radiometric survey previously commissioned by Teck Cominco identified large uranium and thorium anomalies over the central part of the project, highlighting the exploration potential for radiogenic minerals associated with the rare earth elements."

For maps and sections showing exploration results, refer to the Companys website

Huajoto polymetallic project

Alturas has commenced work on the Huajoto project, the formal agreements for which were formally signed on August 24, and August 29, 2007 by the participants (Teck Cominco, COMACSA and Alturas Minerals).

The project area is comprised of seven contiguous concessions with a total area of 3,700 hectares. Each party has contributed claims to the project. Teck Cominco holds title to Huajoto 3 and 4, while Alturas controls the Conaica 1, 2, 3 and 4 concessions. The Esperanza Uno concession is controlled by COMACSA, which is a Peruvian industrial minerals company.

Alturas has been granted an option by Teck Cominco to acquire an initial 65% interest in Teck Cominco's claims by spending US$1.5 million on exploration on the property over 3 years. If Alturas exercises its option on the property, a joint venture company will be formed between Alturas (65%) and Teck Cominco (35%). Upon formation of the joint venture company funding of the first US$1.5 million for exploration work will be made on a pro rata basis according to each party's interest. Teck Cominco can then elect to earn an additional 30% of the joint venture company by completing a feasibility study at its cost.

Alturas has also agreed with COMACSA to acquire the Esperanza Uno property by way of a mining assignment and option agreement in favor of Alturas for five years. Staggered cash payments for a total of US$100,000 will be made to COMACSA in the first four years. No exploration commitments, or cash payments, are included in the contract. However, if Alturas, in agreement with Teck Cominco, decides to exercise the option, COMACSA will receive 5% net profit interest in the joint venture company that is formed by Alturas and Teck Cominco, in return for the transfer of its Esperanza Uno property to the joint venture company.

The Huajoto project is located in the historic mining district of Huancavelica in Central Peru. Huajoto is a zoned polymetallic system 5.0 kilometers by 7.0 kilometers in size, with strong gold-silver anomalies associated with a high sulfidation epithermal core approximately 2.5 by 1.0 kilometers in size (La Virgen target) passing outwards into zones of strong zinc, lead and rare earth surface geochemical anomalism.

The property was previously explored by Teck Cominco in 1999-2001 with a strong zinc-only focus. Alturas plans on focusing on the full range of metals found in the system, including precious metals, rare earth and radiogenic elements. Highlighting the project's excellent uranium and thorium potential, data collected by Teck Cominco indicates a strong multi-channel radiometric anomaly (including a 2 to 3 times background uranium anomaly) measuring approximately 3.0 kilometers in diameter over the centre of the mineralized complex in a regional airborne survey.

Six widely-spaced diamond drill holes for 1,316 meters were completed by Teck Cominco testing zinc targets on the northern margins of the system, intersecting several intervals of tuff-hosted, low grade disseminated zinc mineralization with strongly anomalous rare earths. Alturas has confirmed that the disseminated zinc mineralization is concentrated in altered tuff horizons cut by garnetiferous felsic intrusive sills. Key mineralized intervals of these historic drill holes are as follows:

Drill Hole From (m) To (m) Length (m) Zinc wt. av. (%)
DDH-HU-01 18.10 31.45 13.35 2.06
52.90 58.40 5.50 1.81
74.40 89.10 14.70 1.19
126.15 129.15 3.00 1.43
138.15 144.65 6.50 1.34
185.65 203.65 18.00 1.06
220.15 232.45 12.30 2.07
251.95 254.95 3.00 1.46
DDH-HU-04 24.35 34.35 10.00 0.63
DDH-HU-06 267.65 281.75 14.10 1.34

Widespread epithermal gold-silver mineralization of the high-sulfidation epithermal style at the La Virgen target to the south has yet to be drill tested.

A technical report on the Huajoto project, fulfilling the standards of National Instrument 43-101, was completed by A.C.A. Howe Associates, and may be viewed on the Alturas' website.

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 Baos 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

As required by the National Instrument 43-101, Alturas's designated Qualified Person for the supervision of exploration of the projects is Dr. Paul Pearson, F. AUSIMM, Vice President-Exploration of the Company, who has verified the technical information reported in this News Release.

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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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