Alturas Minerals Corp. (TSXV:ALT) entered into a letter of intent to acquire Resguardo Copper-Gold Project in the Paleocene-Eocene Metallogenic Belt of Northern Chile from Sociedad Contractual Minera Resguardo for $2.8 million on June 29, 2022. Under the terms, the consideration will be paid in 5 installments, with $50,000 within fifteen days of the execution of the definitive agreement, $0.1 million within a year, $0.15 million within two years, $0.3 million with three years and $2.15 million with four years of the agreement. If, as a result of the mining activities performed by Alturas, a porphyry is confirmed, the purchase price will be increased by 10% of the selling price obtained by Alturas for the transfer to a third party, or $30 Million, whichever is greater. Alturas will have a period of three months, from the signing date of the letter of intent, to complete a due diligence review. The deal participants further agree that upon the execution of this letter of intent, a definitive agreement will be executed not later than 30 days from completion of the due diligence. The transaction is subject to regulatory, TSX-V approvals and due diligence.