Toronto, September 27, 2022 – Alturas Minerals Corp. (Alturas or the “Company”) (TSXV:ALT) (BVL:ALT) (OTC:ALTSF)  whish to inform that it continues progressing on the due diligence process on the Resguardo concession, the Optionor and applicable technical studies.

As per the letter of intent signed with Sociedad Minera Contractual Resguardo (the “Optionor”), Alturas had a period of three months from the signing of the LOI, as described in Alturas Press Release dated June 29, 2022, to conduct its evaluation. During September 2022, Alturas and the Optionor agreed to extend the evaluation period for additional 45 days, until November 15, 2022

During the Due diligence process, no material changes have been implemented to the terms of the LOI. Further updates will be issued in due course.

For details of the terms of the transaction, please see our Press Release issued on June 29, 2022, at www.SEDAR.com

The transaction remains subject to satisfaction of the Exchange's filing requirements. and approval and that further updates would be provided in due course

About Alturas Minerals

Alturas is a Canadian corporation, and is the indirect parent of the Peruvian company, Alturas Minerals S.A. (“Alturas Peru”) and of the Chilean company, Alturas Chile Limitada (“Alturas Chile”). Alturas had been exploring various mineral projects in Peru between January 2004 and 2020 and between 2012 and 2014 in Chile through its subsidiaries. After interrupting its exploration activities in Chile and Peru due to financial constraints, Alturas is now focusing in new business opportunities, among the Resguardo project in Chile.

ALTURAS MINERALS CORP.

“Miguel Cardozo” Chief Executive Officer

Contact: Mario Miranda

Phone: (416) 363-4900

Alturas Minerals Corp. (TSX-V: ALT)

372 Bay Street, Suite 301 Toronto, Ontario M5H 2W9

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