Vancouver, British Columbia--(Newsfile Corp. - February 22, 2024) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), ("Altamira" or the "Company") is pleased to announce the appointment of Pieter Le Roux to the Board of Directors, effective immediately.

Mike Bennett, Altamira's President and CEO commented, "I am very pleased to welcome Pieter to the Board of Directors. We believe Pieter's broad expertise in finance, portfolio & capital allocation, capital management, transformational M&A, investor & stakeholder engagement and reputation management will be invaluable to the Company going forward. We believe that the fact that we have been able to attract someone as experienced and successful in our industry as Pieter to our Board speaks to the potential of our project portfolio in the Alta Floresta region of Brazil and, in particular, is a significant endorsement of the Cajueiro gold project and the nearby Maria Bonita gold discovery."

Pieter Le Roux has a BCom (Hons) in Accounting from the University of Johannesburg and is a Member of the South African Institute of Chartered Accountants. He is also a Member of the Singaporean Institute of Company Directors and a Member of the Australian Institute of Company Directors.

Pieter has significant finance, policy, legal, regulatory experience across a range of jurisdictions including Canada and Brazil, and has worked at Board and senior executive level in Australia, Singapore, China, Korea, Japan, India, Switzerland, UK, The Netherlands, USA, Brazil, Peru & Chile. From 1997 to 2017, he was employed by BHP in a variety of senior executive roles.

He is currently a non-executive director of International Gulf Mining which is developing a bauxite deposit in Guinea, and was previously a non-executive director of PanAust Limited from 2016 to 2023. Pieter was also Vice President and Managing Partner of Cyient Limited from 2018 to 2024. Cyient is a technology, asset performance and management consulting organization with 15,000 staff in 19 countries.

Pieter will act as an independent director of Altamira Gold and Chair of the Audit Committee. In connection with his appointment, Altamira also announces that it has granted 350,000 stock options which are exercisable for a term of 5 years at an exercise price of C$0.165 per common share. The options are subject to the Company's Stock Option Plan.

About Altamira Gold Corp.

The Company is focused on the exploration and development of gold projects within western central Brazil. The Company holds 8 projects comprising approximately 190,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category.