Altamira Gold Corp Announces $2,000,000 Non-Brokered Private Placement

Vancouver, BC (FSCwire) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), (“Altamira” or the “Company”) announces that it proposes to raise up to $2,000,000 through a non-brokered private placement of up to 10,000,000 units (“Units”) at a price of $0.20 per Unit.  Each Unit is comprised of one common share and one non-transferable share purchase warrant exercisable at $0.33 per warrant share for a period of five years from the issue date.

All the securities will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange.  Equitas intends to use the net proceeds for its exploration program on the Company's mineral properties in Brazil, and for general working capital purposes.

On Behalf of the Board of Directors,

ALTAMIRA GOLD CORP.

“Michael Bennett”

Michael Bennett
President & CEO

Tel: 604.676.5660
info@altamiragold.com

Neither TSX Venture Exchange nor it Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding the proposed private placement, the timing for closing and use of proceeds.  It is important to note that the completion of the private placement is subject to risks including, the state of the markets, the demand for Units and regulatory approval.  Actual outcomes may differ materially from those in such forward-looking statements.  Except as required by law, we do not undertake to update these forward looking statements.

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