Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), ('Altamira' or the 'Company') is pleased to announce the results of surface sampling work at the Santa Helena project in northern Mato Grosso state in western Brazil, and the identification of a new and previously unknown high-grade gold target on surface called Dorival South.

Highlights are as follows

Eighteen rock chip samples collected from surface blocks at Dorival South, a new area at Santa Helena, returned gold values ranging from 0.02 to 124.5 g/t gold

Eleven of these samples were collected from a high-grade vein structure and average 46.8 g/t gold. Stockwork quartz veining has been identified 400m to the south-west. Elevated copper values were also returned up to 2.2% copper. This value represents the highest ever copper value reported from the project

The identification of the Dorival South target means that highly anomalous gold and copper values have been identified over an area of 7km by 4km suggesting the presence of a very large hydrothermal system. Four main targets with high-grade gold and copper values on surface had been identified at Santa Helena previously and include; Flecha Dourada target: average of 31.2 g/t gold + 0.13% Cu (17 rock chip samples, of which 10 returned values above 10g/t gold)

Gabriel target: average of 19 g/t gold + 0.11% Cu (20 rock chip samples, of which 7 returned gold values above 10g/t gold)

Dorival target: average of 24.6 g/t gold from 6 rock chip samples

Tucura target: average of 7.2 g/t gold from 6 rock chip samples

Michael Bennett, Altamira Gold's President and CEO commented, 'Whilst our focus remains on advancing our Cajueiro gold project to production in 2021, it is important to remember that Altamira owns two other projects that could be company makers, namely Santa Helena and Apiacas. The Santa Helena project is located just 60km southwest of Anglo American's major porphyry copper discovery at Jaca, and could host a porphyry-related gold-copper deposit surrounded by peripheral high-grade gold mineralization. The identification of this new high-grade target at Santa Helena expands the size of the mineralized target area by approximately 20%, and we look forward to drilling this project later this year'

About Altamira Gold Corp.

The Company is focused on the exploration and development of gold projects within western central Brazil. The Company holds 9 projects comprising approximately 290,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has 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 515,000oz in the Inferred Resource category.

Contact:

Tel: 604.676.5660

Email: info@altamiragold.com

Web: www.altamiragold.com

Forward-Looking Statements

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could 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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