Altamira Gold Mobilizes Second Diamond Drill Rig to the Cajueiro Gold District, Brazil

The most recent news, dated November 3, 2025, announces that Altamira Gold is mobilizing a second diamond drill rig to its Cajueiro gold project in Brazil. This move will double the company's drilling rate. One rig will continue drilling at the Maria Bonita discovery, while the second rig will focus on the Central Resource Area and other nearby porphyry targets, such as Tavares Norte. The release also notes that hole MBA033 at Maria Bonita is complete with samples being prepared for assay, and hole MBA034, collared 100m south of the significant MBA032 intercept (395.5m @ 0.4 g/t gold), is currently in progress.

This news is materially positive. The decision to mobilize a second drill rig represents a significant acceleration of the company's exploration strategy and demonstrates strong confidence from management. This follows a series of positive developments: - Successful Financing (July 2025): The company raised $5.28 million, providing the capital for this expanded program. - Major Discovery Confirmation (Oct 15, 2025): The confirmation of a large, continuous mineralized porphyry system at Maria Bonita with hole MBA032 (395.5m @ 0.4 g/t Au). - District Potential Validation (Oct 29, 2025): Initial drilling at Tavares Norte confirmed the presence of a second mineralized porphyry body, validating the district-scale exploration model.

By doubling the drilling rate, Altamira can now simultaneously advance its two key objectives: expanding the known large-tonnage, low-grade resource at Maria Bonita and testing the numerous other porphyry targets to prove the district's overall potential. This aggressive, well-funded approach significantly shortens the timeline for potential resource growth and new discoveries. While not a game-changing discovery in itself, this operational update is a clear and positive signal that the company is executing its strategy effectively and is well-positioned for a period of intense activity and news flow. The partial drill results provided for Maria Bonita (MBA032) are a reiteration of the Oct 15th news, but the update on holes MBA033 and MBA034 is new information that keeps the market informed of progress.

Altamira Gold Corp. is a junior exploration company focused on the discovery and development of gold projects in Brazil. Its flagship asset is the Cajueiro Gold District in Mato Grosso state. The project hosts two defined NI 43-101 compliant mineral resources: 1. Cajueiro Central: A higher-grade resource with 185,000 oz Indicated (1.02 g/t Au) and 515,000 oz Inferred (1.26 g/t Au). The company has received an environmental license for trial mining in this area. 2. Maria Bonita: A large, bulk-tonnage porphyry gold deposit with a maiden resource (May 2025) of 357,800 oz Indicated (0.46 g/t Au) and 362,400 oz Inferred (0.44 g/t Au). The company's strategy is to prove the district-scale potential of Cajueiro by expanding the known resources and drill-testing at least nine other identified porphyry targets.