Altamira Gold Intersects High Grade Gold Mineralization Within a Second New Porphyry Body at Morro Verde Target, Cajueiro District, Brazil

On November 19, 2025, Altamira Gold announced drill results from the Morro Verde target within its Cajueiro District in Brazil. The company intersected high-grade gold mineralization in a second newly identified porphyry body.

Key highlights include: - Drill hole MRV003 intersected 8 meters grading 3.5 g/t gold from a depth of 176 meters. - This discovery is significant as it represents a second distinct gold-mineralized porphyry intrusive found during the current scout drilling program, following the initial discovery at Tavares Norte. - CEO Michael Bennett noted this extends the prospective corridor to 6.5km east of the Maria Bonita resource and confirms the potential for economic grades and widths. - The company has two drill rigs on site to conduct follow-up drilling on these new discoveries and continue expansion drilling at the Maria Bonita and Central gold deposits.

This news is materially positive and represents a significant step forward in validating the company's district-scale exploration model.

Progression of the Company's Strategy: Over the past year, Altamira has systematically executed its strategy. After identifying multiple targets, the company published a large maiden resource at Maria Bonita in May 2025, effectively doubling its global resource base. This was followed by a successful C$5.28M financing in July 2025, backed by strategic investors Aura Minerals and Crescat Capital, which provided the capital for an aggressive exploration program.

In September, the company de-risked the project by securing an environmental license for trial mining at its higher-grade Cajueiro Central resource, opening a potential near-term path to non-dilutive cash flow. Exploration updates throughout October confirmed the presence of porphyritic intrusive rocks at two new regional targets, Tavares Norte and Morro Verde. The subsequent assays from Tavares Norte confirmed a new mineralized porphyry system, albeit with low grades (0.3-0.4 g/t Au).

Assessment of Current News: The drill results from Morro Verde are a substantial improvement over the initial discovery at Tavares Norte. An intercept of 8m @ 3.5 g/t gold is economically interesting and far more encouraging than the low-grade results previously seen in scout drilling. This confirms that the district has the potential to host higher-grade mineralization outside the known resource areas.

This result directly addresses a key risk: that the broader district might only host low-grade, Maria Bonita-style mineralization. Finding higher grades at Morro Verde enhances the economic potential of the entire district. It justifies the two-rig drill program and provides a clear, high-priority target for follow-up drilling.

From a risk-averse perspective, this is still a single drill hole, and the true width of the intersection is unknown. The discovery requires significant follow-up drilling to prove size and continuity. However, in the context of the company's methodical exploration success and strong financial position following the recent C$6.3M warrant exercise, this news strongly supports the investment thesis and the current market valuation. It demonstrates management is effectively deploying capital and delivering on its stated exploration goals.

Altamira Gold is a Canadian junior exploration company focused on identifying and developing gold projects in Brazil. Its flagship asset is the Cajueiro Gold District in Mato Grosso state, a large land package covering multiple porphyry-related gold targets. The project contains two NI 43-101 compliant mineral resources: - Cajueiro Central: A higher-grade resource (Indicated: 185k oz @ 1.02 g/t Au; Inferred: 515k oz @ 1.26 g/t Au). - Maria Bonita: A large, bulk-tonnage porphyry deposit (Indicated: 358k oz @ 0.46 g/t Au; Inferred: 362k oz @ 0.44 g/t Au). The company's strategy is to demonstrate the district's multi-million-ounce potential by systematically exploring nine identified targets along an 8km mineralized corridor.