Altamira Gold Drills 134m @ 0.5 g/t Gold and Trenches 114m @ 0.7 g/t Gold at the Maria Bonita Gold Deposit, Cajueiro Gold District, Brazil

Altamira Gold Corp. (ALTA) released an exploration update on October 8, 2026, detailing combined drill and trench results from the Maria Bonita porphyry gold deposit in the Cajueiro district of Brazil. The release also included routine housekeeping items regarding the Annual General Meeting and an Omnibus Equity Compensation Plan.

The company stated that these results arrived after the cut-off date for the September 21, 2026, Mineral Resource Estimate and were therefore not included in it, though they lie within the new optimized pit footprint.

Drill hole MBA045, located within the updated resource footprint, returned three intervals separated by barren post-mineral dykes, totaling 272m downhole: * 87m @ 0.4 g/t Au from surface * 52m @ 0.3 g/t Au from 155m downhole * 134m @ 0.5 g/t Au from 215m to end of hole at 349m (the release elsewhere quotes this interval as "133.5m at 0.5 g/t" and as ending in mineralization, open at depth)

The lower interval remains open at depth and is said to lie west of the post-mineral feldspar porphyry dyke corridor, predominantly hosted in veined tuffs adjacent to the interpreted Western Porphyry.

Trench TCMBA05, located within the Mineral Resource footprint on the same section as MBA045, returned 114m @ 0.7 g/t Au including 36m @ 1.3 g/t Au.

Drill hole MBA044, which tested the northern extent of mineralization in wall-rock tuffs beyond the interpreted porphyry margin, returned generally weak values predominantly below the 0.24 g/t Au resource cut-off. The best result was 7.2m @ 0.3 g/t Au from the oxidized zone.

Four of five trenches have assays (TCMBA01-05); TCMBA06 is pending. TCMBA03 and TCMBA04 returned generally low gold values, while TCMBA02 was modest. Drill hole MBA046 assays remain pending.

The resource context for Maria Bonita includes an Indicated resource of 25Mt @ 0.50 g/t (403,877 oz) and an Inferred resource of 70Mt @ 0.41 g/t (908,477 oz), based on a 0.24 g/t Au cut-off and US$3,300/oz gold. The Cajueiro Central resource comprises 5.66Mt @ 1.02 g/t (185,000 oz Indicated) and 12.66Mt @ 1.26 g/t (515,000 oz Inferred).

Altamira Gold Corp. (ALTA) released drill results from holes MBA045 and TCMBA05, which were designed for infill and resource definition. MBA045 is located within the updated resource footprint and the optimized pit, while TCMBA05 sits inside the resource footprint. These holes are not step-outs, nor do they represent a discovery. Work to define the western limit of the known body is still in progress, with results pending.

The expectation anchor for these results is the resource grade of 0.50 g/t for Indicated and 0.41 g/t for Inferred material. Against this benchmark, the results of 134m @ 0.5 g/t and 114m @ 0.7 g/t, including 36m @ 1.3 g/t, serve as confirmations at or above resource grade. While the headline gram-metres fall short of earlier high-grade intervals, such as MBA032 (395.5m @ 0.4 g/t = 158 g.m) and MBA029 (213m @ 0.8 g/t = 170 g.m), the infill results align with the established resource model.

The stock price has already reflected part of the resource-expansion story, rising from approximately C$0.14 in late July 2026 to C$0.30 on September 21, 2026, the day of the resource update. The share has since retraced to C$0.24, indicating a "show me" stance from the market. This release does not contain a step-change that would re-rate the equity, as it includes no new resource, no step-out assays, no metallurgy, and no economic study.

As a pre-revenue grassroots explorer with no reserves or economic study, and with its going-concern status flagged, Altamira Gold is at a stage where only a discovery or a major step-out would typically re-rate the business. This release does not meet that threshold. However, it does demonstrate that the pit footprint contains genuine above-resource-grade material at surface, including a 36m interval @ 1.3 g/t from trenching, and a broad above-Inferred-grade interval at depth of 134m @ 0.5 g/t that was excluded from the Mineral Resource Estimate. This represents incremental tonnage and grade upside for the next resource iteration.

Ultimately, the results confirm what the resource already assumes, accompanied by a modestly encouraging trench. The findings are not material to the investment thesis on their own and do not merit a Material rating.

Altamira Gold Corp. (TSXV: ALTA; FSE: T6UP; OTCQB: EQTRF) is a pre-revenue gold explorer and developer focused on the Cajueiro porphyry gold district within the Alta Floresta-Juruena Gold Belt in Mato Grosso and Pará, Brazil. The company holds more than 90,000 hectares across four projects.

The company has defined two NI 43-101 mineral resources with no reserves. The Maria Bonita resource, based on a 0.24 g/t Au cut-off at US$3,300/oz, includes 25Mt @ 0.50 g/t (403,877 oz) Indicated and 70Mt @ 0.41 g/t (908,477 oz) Inferred. This includes 30,899 oz Indicated and 17,172 oz Inferred saprolite. At a 0.5 g/t cut-off, the resource contains 513 koz @ 0.75-0.80 g/t core. The Cajueiro Central resource, based on a 0.25 g/t Au cut-off at US$1,500/oz, comprises 5.66Mt @ 1.02 g/t (185,000 oz) Indicated and 12.66Mt @ 1.26 g/t (515,000 oz) Inferred.

Combined, the resources contain approximately 2.0 moz of contained gold, all classified as Indicated or Inferred. There is no reserve, no economic study, no Preliminary Economic Assessment (PEA), and no Net Present Value (NPV), Internal Rate of Return (IRR), or All-In Sustaining Costs (AISC) disclosure.

Infrastructure includes road access, grid power from a nearby hydro plant, water, and a modular camp at Maria Bonita. An environmental permit allows for 100,000 tpa trial mining on the Cajueiro Central oxide zone, valid until September 2027. Metallurgical testing of oxide zones shows 88-96% gold recovery via gravity/cyanide leach with no deleterious impurities, while sulphide testwork is ongoing. There are currently no metallurgical results for the fresh-rock porphyry that carries the bulk of the Inferred tonnes.

Management includes CEO Michael Bennett, who has over 35 years of experience and a track record in Brazil, and Chairman Alan Carter. Dr. Richard Sillitoe has served as technical advisor since December 2025. Independent Qualified Persons include Fernando Benegas for the current release and Guillermo Hughes for prior releases.

The capital structure consists of 296,491,386 shares outstanding, 340,398,886 warrants outstanding, and 17,375,000 options held by Crescat. The public float is approximately 26.5M shares. Management invested approximately C$1.25M at an average price of C$0.10.

Financial context from prior periods, not disclosed in today's release, indicates zero revenue. The company reported a net loss of C$218,445 for the quarter ended 2026-05-31. Cash holdings were C$5,511,770 at 2026-05-31, down from C$9,142,995 at 2025-11-30. The company has no debt, total equity of C$33.05M, and a book value of approximately C$0.11 per share. An explicit going-concern flag is tied to reliance on equity financing, with approximately C$1.72M in exploration capital expenditure recorded in the quarter.