Altamira Gold mobilizes second drill rig to Cajueiro

Executive Summary

• Altamira Gold Corp. has mobilized a second diamond drill rig to its Cajueiro gold district in Brazil to accelerate resource expansion and exploration.
• The new rig will focus on the Central resource area, testing downdip extensions of higher-grade zones and several porphyry targets, including the Tavares Norte discovery.
• Drilling at the Maria Bonita gold resource continues, with hole MBA033 completed and hole MBA034 currently in progress, aiming to enlarge the known mineral resource footprint.

Key Details

• Drilling Mobilization: A second diamond drill rig has been added to the Cajueiro district, doubling the current drilling rate.
• Central Resource Area Focus: The new rig targets the expansion of indicated and inferred resources (NI 43-101) within the Central area, specifically testing downdip extensions of higher-grade zones.
• Porphyry Exploration: The rig will test nearby porphyry targets, including follow-up drilling at the Tavares Norte gold porphyry discovery and other satellite prospects identified via geophysical and geochemical work.
• Maria Bonita Drilling Status:
  • Hole MBA032: Completed to 546 meters; returned 395.5 meters at 0.4 g/t gold from 44.5 meters depth in a quartz porphyry intrusive.
  • Hole MBA033: Completed to 497 meters; samples are being prepared for assay.
  • Hole MBA034: Collared 100 meters south of hole MBA033; currently in progress to test deeper intercepts.
• Cajueiro Central Resource Estimate:
  • Indicated: 5.66 million tonnes at 1.02 g/t gold (185,000 oz).
  • Inferred: 12.66 million tonnes at 1.26 g/t gold (515,000 oz).
  • Cut-off: 0.25 g/t Au; Gold Price: $1,500/oz.
• Maria Bonita Resource Estimate:
  • Indicated: 24.19 million tonnes at 0.46 g/t gold (357,800 oz), including near-surface saprolite (2.02 million t at 0.59 g/t Au).
  • Inferred: 25.64 million tonnes at 0.44 g/t gold (362,400 oz), including near-surface saprolite (680,000 t at 0.40 g/t Au).
  • Cut-off: 0.2 g/t Au; Gold Price: $2,780/oz.
• District Context: The Cajueiro district features a 15 km east-west corridor of former alluvial gold workings and subcropping intrusions, suggesting deep-seated crustal structures and potential for multiple gold-bearing porphyry centers.
• Infrastructure: All required permits are in place, and the site has grid power, local water, and road access, supporting year-round operations.

Notable Quotes

• "Mobilizing a second drill rig to the Cajueiro district marks a big step forward for the company. With one rig currently drilling at Maria Bonita and the second moving to the Central resource and nearby porphyry targets, we will double our current drilling rate, which is aimed at increasing the known resource base at the Maria Bonia and the Central resource areas, as well as testing several new district porphyry targets." — Mike Bennett, CEO