ALT Alturas Minerals Corp

Alturas Minerals Corp. (the "Company" or "Alturas") (TSX VENTURE:ALT)(LMA:ALT)
wishes to provide an update on its decision to sell the Ccaccapaqui project to
Compania de Minas Buenaventura ("Buenaventura") and the termination of its
option agreement with Minera IRL ("IRL") on the Chapi Chapi project.


Ccaccapaqui

The Company was advised by Buenaventura that it did not intend to make the next
payment required under its option agreement in respect of the Ccaccapaqui
property. Alturas and Buenaventura did enter into further negotiations and the
parties have entered into a definitive agreement dated March 21, 2014, pursuant
to which Alturas will transfer to Buenaventura 100% of its rights in the
Ccaccapaqui property for a $100,000 upfront payment and a 1% SMR on all minerals
produced from the property. An advanced royalty payment of US$1,000,000 will be
paid to Alturas on commencement of commercial production in the property.


Chapi Chapi

As announced in a press release dated October 15, 2013, the Company signed an
amended agreement with IRL, pursuant to which Alturas was required to pay IRL
the sum of US$1,000,000 by December 31, 2013 in order to earn an interest in the
Chapi Chapi property, of which $50,000 was paid on signing of the amendment of
the agreement. As the Company was unable to raise sufficient funds to pay the
balance owing, the parties have formally terminated the agreement in a document
dated March 14, 2014. Alturas therefore has no further commitments of any nature
or payment obligations on this property. The Utupara concession block remains in
the Company's portfolio.


Miguel Cardozo, President and CEO of the Company said, "While a positive
agreement was reached with Buenaventura for the transfer of the Ccaccapaqui
property, we are disappointed to drop the option to acquire the Chapi Chapi
property. However the continued lack of financing able for junior exploration
companies in the equity markets left us no choice." 


Mr. Cardozo added, "As with many junior mining companies, Alturas is currently
going through a tight cash position and does not have sufficient funds to
continue its exploration operations in the normal course. However it maintains
positive expectations and is in the process of seeking to secure sufficient
additional capital to maintain its existing property holdings until the industry
downward cycle recovers. Alturas also remains very optimistic with respect to
the mineral potential of its projects and is evaluating alternative plans for
exploration. We are currently having conversations with various mining companies
and private investors that are strongly interested in a joint venture
partnership to develop these and other projects from our high-quality property
portfolio in Peru and Chile."


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 Chile Limitada ("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.


Alturas has four drill-ready mineral exploration projects located in Peru and
Chile, including the Utupara, Sombrero and Huajoto projects in Peru, and La
Corina in Chile. Alturas entered into a transfer agreement on its Pampa Colorada
property with Origen Group S.A.C. but maintains royalty rights and a claw back
clause on 60-100% of the mining rights under certain conditions (see press
release dated January 5th, 2012). Alturas is also advancing its two optioned
gold-copper projects Marilin and Quispe in the Maricunga belt of northern Chile.
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 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alturas Minerals Corp.
+51-1-372-3739 (Lima, Peru)
+1-416-363-4900 (Toronto, Canada)
investor@alturasminerals.com
www.alturasminerals.com

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