Alturas Announces Resolution of Contract

Dispute Over Huilacollo Project, Peru

Friday, May 29th 2009

Alturas Minerals Corp. announce the resolution of the contract dispute between the Company
and Inversiones Sol y C S.A.C (“Inversiones”) regarding the Huilacollo gold project in Southern
Peru.
As disclosed in a previous press release dated October 30, 2008, Inversiones was claiming an
entitlement to a US$1.2 million payment under the terms of the original agreement. Alturas
disputed Inversiones’ claim and negotiations continued between the parties, and have resulted in
a formal resolution of the contract dispute.
Under the terms of the resolution, Alturas has paid an out-of-court compensation of US$ 300,000
to Inversiones. Both companies now represent that, as a result of this settlement, all disputes,
discrepancies, claims and/or conflicts between them, as well as all actions, rights and, in general,
any claims derived there from which are directly or indirectly related to the negotiation,
execution, performance and/or construction of the Agreement, without any reserves or
limitations whatsoever, have been satisfactorily and finally settled.
Paul Pearson, President and CEO commented, “This resolution of the Huilacollo contract dispute
with Inversiones is a favorable outcome for Alturas. With approximately US$ 1.1 million in
treasury, Alturas is now well positioned to add shareholder value through the exploration and
development of its portfolio of eleven high quality gold and copper-gold projects in Peru. To this
end, the Company is actively seeking strategic partnering arrangements on some of its key
projects.”
Alturas Geophysical Survey Expands Gold Potential at
Huilacollo Gold Project, Peru
October 19, 2006: 9:00 a.m. EST

TORONTO, ONTARIO (Market Wire) -

Alturas Minerals Corp. (TSX VENTURE: ALT) today announced the results of a Induced Polarization/
Resistivity Survey over the Cerro Andamarca and Andamarca Norte targets on the Huilacollo Gold
Project in southern Peru. The results significantly expand the lateral and vertical extent of the
known hydrothermal system and have outlined extensive zones of coincident high resistivity and
low chargeability, interpreted as gold-prospective siliceous alteration. Large parts of these
shallow concealed geophysical anomalies were untested by previous drilling, and are being
targeted in the ongoing 3,000 metre drilling program.
Miguel Cardozo, President & CEO, commented "This is the first time that geophysics has been
applied to the exploration of the Huilacollo Gold Project and the results are very encouraging for
us. In this type of high sulfidation epithermal system, zones of high resistivity generally reflect
strong silicification, which is the dominant host alteration for the known gold mineralization that
outcrops on the crest of Cerro Andamarca. This survey enables us to map these zones out under
the thin cover away from the previously drilled zone, which occupies less than 25% of the
anomalous areas now defined by the survey. The results indicate that there is a very real
possibility of locating new gold and silver mineralized bodies and their feeder structures that
have not yet been explored in the shallow subsurface."
The survey clearly outlines two distinct areas of coincident high resistivity (+4000 Ohm metres)
and low chargeability (-5 mV/V) in the northern sector of the Huilacollo property. The
southernmost of these is the Cerro Andamarca anomaly, which is roughly circular in shape and
approximately 800 x 700 metres in lateral dimension. The Cerro Andamarca anomaly starts close
to surface and continues for at least 200 metres below surface, forming a generally
shallow-dipping body. The Andamarca Norte anomaly is located to the northwest and is a broadly
oval-shaped body approximately 1100 x 350 metres in lateral dimension, elongated east-west.
The anomaly dips shallowly to the west, starts close to surface and extends to at least 100
metres vertically.
For maps and sections detailing the geophysical results discussed above, refer to the Company's
website www.alturasminerals.com/huila_3.htm
The geophysical data reported here was acquired and processed by Fugro Ground Geophysics, a
reputed international company with a regional office in Peru. The data comprises the northern
part of a larger geophysical survey, and was conducted on east-west lines for approximately 36
line kilometers, with a line spacing of 100 metres using a pole-dipole configuration. Dipole
spacing used was 100 metres. Fugro utilized offset current and potential lines, allowing full
three-dimensional acquisition of data and effective delineation of anomalies between lines. Data
was processed by Fugro Consultant Mr. Bob White of Australia, in order to produce a three
dimensional block model; sections and plans were subsequently prepared from this model.
Systematic trench geochemical sampling currently underway is expected to be completed by the
end of October. Ground geophysics acquisition has been now been completed and the remaining
results from the southern part of the property will be reported in a subsequent press release. The
3,000 metre drill program currently underway is expected to be completed in December and will
test the geochemical and geophysical targets defined by this work.
The 2,000 hectare Huilacollo Gold Project is located approximately 970 kilometres southeast of
Lima and 55 kilometres northeast of the city of Tacna. Alturas holds an option to acquire 100% of
the property. Huilacollo is a high sulfidation epithermal gold system outcropping over a strike
length exceeding five kilometres in length, and Cerro Andamarca and Andamarca Norte are two
of three hydrothermal centers recognized to date within this zone.
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.
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.

Identifies Large Epithermal Drill Targets

This stock seems to be under the radar. Consistently quite impressing results and has an experienced management.
advancing exploration on three of its four principal gold-silver and copper-gold projects in southern Peru Huilacollo
Gold Project 2006 09 20 - Reports 1.67 g/t Gold and 11.9 g/t Silver Over 77m trenches; 6.7 g/t Gold and > 54.4 g/t
Silver Over 38 m 2006 11 22 - new porphyry target Induced Polarization (“IP”)/Resistivity survey recently completed;
steep-sided, oval-shaped zone (1.5 x 1.0 kilometres dimension) of high chargeability 2006 11 29 - 1.24 grams/tonne
gold and 11.3 grams/tonne silver over 84.0 metres in oxides starting at surface Utupara Copper-Gold Project Banos
del Indio Gold Project 2006 12 05 - Identifies Large Epithermal Drill Targets at Baños del Indio; 3D IP/Resistivity
survey recently completed drilling at the Honguitos Prospect (6.1 metres @ 10.7 grams/tonne gold) lies on the
extreme northeastern margin of the high resistivity complex, leaving additional larger geophysical targets open for
follow up ----------------------------------------- Directors and Executive Officers In connection with the completion of the
Amalgamation, the following individuals were elected or appointed to the board of directors and to senior officer
positions, as set out in the brief biographies of each such director and officer below: Laurence Curtis, Chairman of the
Board and Director Dr. Curtis has 35 years of international experience in the resource sector. He is currently Chief
Executive Officer and President of Intrepid Minerals Corporation, a precious metal explorer devoted to discovery and
development in Latin America. Dr. Curtis is also a director of High River Gold Mines Ltd., a former director of
Wheaton River Minerals Ltd. and a Professional Geoscientist registered with the APGO. Miguel Cardozo B.Sc. (Ing.),
M.Sc, PhD, President, Chief Executive Office and Director Dr. Cardozo has over 32 years of gold and base metals
experience throughout South and North America, holding senior management roles with companies such as
Newmont Mining Corporation, North Limited and Teck Cominco Limited, as well as in consulting roles to AurionGold
Ltd., Placer Dome Inc., the Ministry of Energy and Mines and various other public and private resource companies.
Whilst serving as Senior Geologist with Newmont Mining Corporation between 1985 and 1995, Dr. Cardozo was
responsible for the exploration program that led to the discovery of the Yanacocha gold district, Peru. He is a member
of the Peruvian Geological Survey (INGEMMET) and a member of the Society of Economic Geologists, the Colegio
de Ingenieros del Perú-Capítulo de Ingenieros Geólogos, the Instituto de Ingenieros de Minas del Perú, and the
Sociedad Geológica del Perú Paul Pearson B.Sc. (Hons), PhD, Vice-President, Exploration and Director Dr. Pearson
has worked for over 20 years throughout Australasia and Latin America in gold and base metals exploration. Dr.
Pearson has held senior technical roles, including Project Generation and Acquisition, with a number of major
resource groups that includes Mount Isa Mines Limited, North Ltd., Teck Cominco Limited and SRK Consulting. He is
a Fellow of the Australasian Institute of Mining and Metallurgy. David Poynton, B.A., LLB., Assistant Secretary and
Director Mr. Poynton is a partner with the Toronto law firm of Cassels, Brock & Blackwell LLP, which firm acts as
corporate counsel to Alturas. He was called to the bar in the Province of Ontario in May, 1980. Mr. Poynton was
formerly a partner at Donahue and Partners LLP, an affiliated firm of Ernst & Young LLP, for the period from
1998-2002, prior to joining his current firm in November 2002. The Company wishes to advise that, notwithstanding
the disclosure in the “Escrowed Securities” section of its Filing Statement filed on www.SEDAR.com on March 31,
2006, David Poynton’s securities of the Company issued in connection with the Offering and the Amalgamation will
not be subject to escrow. Michael J. Klessens, B.Bus., CPA, Chief Financial Officer, and Secretary Mr. Klessens has
18 years of practical financial and management experience, particularly within the resources industry. This
experience has involved all areas of corporate and treasury management, project financing, feasibility studies and the
establishment of systems and procedures for new mining operations. Prior to joining Equinox Minerals Limited as its
Chief Financial Officer and Secretary, Mr. Klessens worked for PacMin Mining Corporation Limited (a subsidiary of
Teck Cominco Limited) prior to its takeover by Sons of Gwalia Ltd. Augusto Baertl B.(Ing.), Director Ing. Baertl is a
mining engineer who has held a number of senior positions with national and international mining companies in Peru.
He served as Mine Manager, President and CEO of Compañía Minera Milpo, one of Peru’s largest mining
companies, from 1967 to 1996. From 1997 to 2002, Ing. Baertl served as President and Executive Chairman of
Compañía Minera Antamina and oversaw the exploration, feasibility and start-up of the project. He is a member of the
American Institute of Mining Metallurgical and Petroleum Engineers (AIME), the Instituto de Ingenieros de Minas del
Perú and the Colegio de Ingenieros del Perú- Capítulo de Minas.

Read more at http://www.stockhouse.com/companies/bullboard/v.alt/alturas-minerals-corp?

postid=11808526#tzYhKSpmwPCp3pzM.99

Alturas reports on contract dispute - Huilacollo Gold Project,

Southern Peru
TSX-V: ALT
BVL: ALT

TORONTO, Oct. 30 /CNW/ - Alturas Minerals Corporation ("Alturas" or the

"Company") (TSXV: ALT) announces that a contract dispute has arisen between
the Company and Inversiones Sol y C S.A.C. ("Inversiones") regarding the
Company's 2,000 hectare Huilacollo high-sulfidation epithermal gold project
(the "Huilacollo Project") in Southern Peru.
The Huilacollo Project is under option to Alturas from Inversiones
pursuant to an option agreement dated August 25, 2004, as amended. The
agreement is for a term of five years. For the most recent update on the
Huilacollo Project, see the Company's Management Discussion and Analysis for
the three and nine months ended June 30, 2008 (which may be accessed at
www.sedar.com) under the heading "Huilacollo Gold Project, Peru" at page 5.
Under the Agreement, a payment of US$1.2 million was due to be paid to
Inversiones on August 25, 2008. Prior to that date, the Company advised
Inversiones of its request for an extension of this date. Earlier requests for
similar extensions had been agreed to by Inversiones. Negotiations ensued, and
in the third week of August, the Company put forward a final proposal for a
payment of US$200,000 to extend the date. That proposal was orally accepted,
but in a subsequent letter, Inversiones added an additional term - that
notwithstanding the extension, the US$1.2 million was earned and would have to
be paid rather than being a matter at the discretion of the Company.
The Company rejected Inversiones' position and stated that the accepted
extension included the ability of the Company to walk away from the Project,
and not make the US$1.2 million payment. Negotiations continue between the
parties, but Inversiones has now indicated that it intends to commence
arbitration proceedings. The Company denies Inversiones' claim based on the
agreed extension, and has engaged counsel for the Company to vigorously
dispute any claim.
As of the date hereof, no proceedings have been commenced by either
party, and it is premature to determine the timing or potential outcome of any
such proceedings. The claim of Inversiones, taken with current market
conditions, substantially increases concerns regarding the ability of the
Company to raise additional capital and to continue as a going concern. The
Company is undertaking a comprehensive review of budgets and spending in light
of the foregoing.

About Alturas Minerals Corporation

----------------------------------

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 eight 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
contact@alturasminerals.com and specify "Alturas News" in the
subject line.

The TSXV and the BVL do not accept responsibility for the adequacy or
accuracy of this release.

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

For further information: Miguel Cardozo, President & Chief Executive Officer,
Alturas Minerals Corporation, 161 Bay Street, 27th Floor, Toronto, Ontario M5J
2S1, Phone: (416) 366-5555 (Toronto), +51 1-475-1700 (Peru), Email:
mcardozo@alturasminerals.com
.

Huilacollo
As of Sep/08, the mineral acquisition costs for this property have been written off as
there is insufficient funding to advance the property and low likelihood of future earnings
or cash flow deriving from this Peruvian property.

Announced results from the phase 1 drilling program from the Cerro Andamarca and
Cerro Huilacollo targets on the Huilacollo Gold project in southern Peru. Highlights
include: drill hole AM-14, which intersected 1.17 g/t Au and 6.51 g/t Ag over 82.0 metres
in oxides starting at surface.

Results from the first five diamond drill holes were released. The best intersection
obtained to date was from hole AM-01, which reported an interval of 1.24 g/t Au and
11.3 g/t Ag over 84.0 m in oxides starting at surface. This interval includes a
higher-grade intercept of 3.29 g/t Au and 16.23 g/t Ag over 14 m from 16 to 30 m.