Alturas Announces Debt Settlement

TORONTO, ONTARIO and LIMA, PERU--(Marketwired - July 8, 2013) - Alturas Minerals Corp. (the "Company" or "Alturas") (TSX VENTURE:ALT)(LMA:ALT) announced today that it has entered into agreement with Equinox Minerals Limited, a wholly owned subsidiary of Barrick Gold Corporation, to settle an aggregate of US$231,001 (CAD$242,851.35) of debt in consideration for the issuance of 4,857,027 Common Shares of the Company at CAD$0.05 per share. The shares issued pursuant to this debt settlement are restricted from trading until November 6, 2013. The debt settlements will reduce the Company's liabilities and better position the Company to move forward.

This debt settlement is subject to the approval of TSX Venture Exchange to be obtained within thirty (30) days of the date hereof.

About Alturas Minerals Corp

Alturas is a Canadian corporation, and is the indirect parent of the Peruvian company, Alturas Minerals S.A. ("Alturas Peru") and of the Chilean company, Alturas ChileLimitada ("Alturas Chile"). Alturas Peru has been exploring various mineral projects in Peru since January 2004. Alturas Chile initiated exploration activities during the second quarter of fiscal 2010. Alturas' exploration strategy is focused on the discovery of large copper-gold porphyry/skarn deposits and epithermal gold mineralized deposits.

The principal assets of Alturas are one project in drilling stage Chapi Chapi-Utupara, and five drill-ready mineral exploration projects located in Peru and Chile, including the Sombrero, Huajoto, Ccaccapaqui and Pampa Colorada projects in Peru, and La Corina in Chile. Alturas is also advancing its two recently acquired gold-copper projects Marilin and Quispe in the Maricunga belt of northern Chile. Alturas entered into a revised agreement on its Pampa Colorada property with Origen Group S.A.C. and into an option agreement on its Ccaccapaqui project with Compañia de Minas Buenaventura S.A.A. (see press releases dated January 5th, 2012 and January 31st, 2012, respectively). In addition, Alturas has interests in three other less-advanced exploration projects in Peru (Callejones, San Antonio and La Divina).

For further information, please visit the Company's website at www.alturasminerals.com.

Should you wish to receive Company news via email, please email investor@alturasminerals.com and specify "Alturas News" in the subject line.

The TSX Venture Exchange and the Bolsa de Valores de Lima do not accept responsibility for the adequacy or accuracy of this release.

Cautionary Language and Forward Looking Statements

This press release may contain "forward-looking statements", which are subject to various risks and uncertainties that could cause actual results and future events to differ materially from those expressed or implied by such statements. Investors are cautioned that such statements are not guarantees of future performance and results. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure documents filed from time to time with the Canadian securities authorities.