Altamira Gold mobilizes second drill rig to Cajueiro

Mr. Michael Bennett reports ALTAMIRA GOLD MOBILIZES SECOND DIAMOND DRILL RIG TO THE CAJUEIRO GOLD DISTRICT, BRAZIL Altamira Gold Corp. has mobilized a second diamond drill rig to its Cajueiro gold district, Brazil. The additional drill rig will focus on the Central resource area and several of the porphyry targets defined in the last 12 months within the broader Cajueiro district, complementing continuing drilling at the Maria Bonita gold resource. Highlights: The addition of a second diamond drill rig at Cajueiro is aimed at expanding the known indicated and inferred resources (reported under National Instrument 43-101) within the Central resource area and in particular the downdip extensions of higher-grade zones. The drill rig will also be used to test several nearby porphyry targets, including follow-up drilling at the Tavares Norte gold porphyry discovery and other satellite porphyry prospects recently identified through geophysical and geochemical work. Drilling at the Maria Bonita gold resource, located seven kilometres (km) northwest of the Central resource area, is continuing. Drill hole MBA033 was completed to a depth of 497 metres and samples are being prepared for assay. Drill hole MBA034, collared 100 metres (m) south of hole MBA033, is now in progress. Chief executive officer Mike Bennett commented: "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. This approach allows us to build on the strong results at Maria Bonita, while aggressively testing the broader district potential. We now know that at least one new gold porphyry centre exists in Tavares Norte and we believe several other gold bearing porphyry centres could prove to be the sources of the alluvial gold worked historically from the streams within the 15 kilometre east-west corridor in the centre of the district." Cajueiro district The Cajueiro district is located approximately 75 km northwest of the town of Alta Floresta in the state of Mato Grosso in central western Brazil. The project is easily accessible by road, lies on open farmland, and has grid power and a local water supply. Cajueiro is the most advanced of the key projects that Altamira controls in the region. The Cajueiro district consists of two independently estimated gold mineral resources at Cajueiro Central and Maria Bonita, plus a series of eight additional untested exploration targets within a radius of eight km of Cajueiro Central. The Cajueiro Central area has a current open-pit resource of 5.66 million tonnes (t) at 1.02 grams per tonne (g/t) gold for a total of 185,000 ounces (oz) in the indicated resource category and 12.66 million t at 1.26 g/t gold for a total of 515,000 oz in the inferred resource category (estimated using a cut-off grade of 0.25 g/t gold (Au) and a gold price of $1,500 (U.S.) per oz). The Maria Bonita open-pit resource consists of indicated resources of 24.19 million t at 0.46 g/t gold (for a total of 357,800 oz) and inferred resources of 25.64 million t at 0.44 g/t gold (for a total of 362,400 oz). These resources were calculated using a 0.2 g/t gold cut-off grade and a gold price of $2,780 (U.S.) per oz. These resources include near-surface saprolite indicated resources of 2.02 million t at 0.59 g/t gold (38,000 oz) and inferred resources of 680,000 t at 0.40 g/t gold (8,700 oz). The Maria Bonita porphyry gold deposit forms part of a district-scale portfolio of prospects that are interpreted as having a similar geological origin. The Cajueiro area is characterized by a 15 km stretch of former alluvial gold workings along the Teles Pires river. The source of some of this alluvial gold is related to a pronounced east-west corridor of gold anomalies in soils and rock chips and a set of subcropping intrusions extending east-west over eight km, implying the presence of a long-standing and deep-seated crustal structure. This dual-rig program represents a significant increase in drilling capacity and is expected to shorten the timeline for both resource expansion and discovery. All required permits are in place and infrastructure at Cajueiro supports year-round operations. With two drill rigs in operation, a steady flow of results is expected over the next several months. Maria Bonita drilling update The objective of the current drill program at Maria Bonita is to enlarge the footprint of the known mineral resource by drill testing for potential extensions to the existing resource, including its depth extent, and new satellite targets. The first drill hole of the current program, MBA032, was completed to a depth of 546 metres and returned 395.5 m at 0.4 g/t gold from 44.5 m depth in the same quartz porphyry intrusive that was intersected in previous drilling (see news release dated Oct. 15, 2025). Hole MBA033 was recently completed to a depth of 497 m and core samples are in preparation for assay. Hole MBA034, which is collared 100 m south of hole MBA032 and aims to test a deeper intercept below that hole, is under way. Further drilling at Maria Bonita will continue to target the extension of higher-grade zones to depth and along strike. Qualified person Guillermo Hughes, FAIG and MAusIMM, a consultant to the company, as well as a qualified person, as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release. About Altamira Gold Corp. The company is focused on the exploration and development of gold projects within western central Brazil, strategically advancing five projects spanning over 100,000 hectares within the prolific Juruena gold belt, an area that has historically yielded over six million ounces of placer gold. The company's advanced Cajueiro project contains two gold deposits. The Central area comprises NI 43-101 resources of 5.66 million t at 1.02 g/t gold for a total of 185,000 oz in the indicated resource category and 12.66 million t at 1.26 g/t gold for a total of 515,000 oz in the inferred resource category. In addition, the Maria Bonita gold deposit comprises additional open-pit indicated resources of 24.19 million t at 0.46 g/t for a total of 357,800 oz and inferred resources of 25.64 million t at 0.44 g/t for a total of 362,400 oz. Continuing exploration and fieldwork at Cajueiro indicate the presence of multiple porphyry gold systems, reinforcing its potential for district-scale development. These hard-rock gold sources align with historical alluvial gold production, highlighting the region's exceptional gold endowment and potential scalability. With two independently established mineral resources, a highly prospective geological setting and a record of significant discoveries, the company is well positioned to unlock further value across its extensive land package. We seek Safe Harbor.