Altamira Gold Corp. announced the start of a second stage diamond-drilling programme at the Maria Bonita gold discovery at its Cajueiro project located in the states of Mato Grosso and Para, Brazil. A diamond drill programme comprising 27 diamond holes totalling 5,000m has commenced at the Maria Bonita gold discover located 7km NW of the Cajueiro gold deposit.

Initial reconnaissance drilling at the Maria Bonita target on a strong gold-in-soil anomaly has revealed the presence of a previously unknown intrusive containing significant intervals of disseminated gold mineralization. The current drill programme is designed to establish the size of the mineralized system at Maria Bonita. Recent surface soil sampling has extended the gold-in-soil anomalies which now measures 800 x 800m and is coincident with a magnetic low anomaly with dimensions of 1.5km x 800m.

Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso in central western Brazil and is easily accessible by road and has grid power. Cajueiro forms one of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena. The Cajueiro project has current NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @1.26 g/t gold for a Total of 515,000 oz in the Inferred Resource category.

Maria Bonita Target. Initial scout drilling in the central part of an 800m by 800m gold-in-soil solution, resulted in the discovery of well-developed disseminated gold mineralization within quartz stockwork vein systems, hosted in porphyritic rhyolite intrusive rocks. The gold-in-soilomaly is coincident with a significant magnetic low anomaly measuring 500m N-S by 1500m E-W. The initial diamond drilling returned excellent results from the initial nine diamond drill holes which include 69m @ 1g/t in MBA005, 50m @ 1.1 g/t gold in MBA004, 55m @ 1.0 g/t gold in MBA002, 50m @ 1.0 g-t gold in MBA001 and 45m @ 1.4 g/t gold in MBA003.

Disseminated gold mineralization in the initial discovery holes is associated with quartz vein stockworks hosted within rhyolitic intrusive rocks. There are no surface rock outcrops in the discovery area, but the preliminary drilling conducted to date indicates that the gold mineralization extends continuously from soils on surface, through saprolite (weathered bedrock) into the primary intrusive host rocks over most of the known mineralized zone to date. The current drill programme has been designed to cover the anomalous magnetic and soil geochemistry footprint of the target.

Drill holes will be oriented to the north and are planned to extend 120-150m initially, with deeper holes to greater depth where any feeder structures are intersected. The next phase of drilling will focus on delineating continuity of geology and mineralization in three dimensions. Upon completion of the exploration drilling, the company aims to produce a maiden mineral resource estimate via a recognised expert consultant.

Qualified Person. Guillermo Hughes, FAIG and MIG and MIG.