Altamira Gold Intersects Porphyritic Intrusive Rocks in Initial Drill Holes at Two Regional Targets Within the Cajueiro District, Brazil

Rhea-AI Summary

Altamira Gold (OTCQB: EQTRF) has completed initial scout drilling at two of nine porphyry targets within its Cajueiro project in Brazil. The company drilled 1,256 meters across five holes at the Tavares Norte and Morro Verde targets, with four holes intersecting porphyritic intrusive rocks showing potassic alteration and hydrothermal breccias.

The Cajueiro district hosts two gold mineral resources: Cajueiro Central with Indicated Resources of 185,000 oz (5.66Mt @ 1.02 g/t gold) and Inferred Resources of 515,000 oz (12.66Mt @ 1.26 g/t gold), and Maria Bonita with Indicated Resources of 357,800 oz (24.19Mt @ 0.46 g/t gold) and Inferred Resources of 362,400 oz (25.64Mt @ 0.44 g/t gold).

The company is currently conducting a second deep diamond drill hole at Maria Bonita to test the deposit's southern depth extension. Assay results from all recent drilling are pending.

Positive

• None.

Negative

• All recent drill results are still pending, creating uncertainty about mineralization quality
• Gold grades in existing resources are relatively low-grade, particularly at Maria Bonita (0.44-0.46 g/t)

Vancouver, British Columbia--(Newsfile Corp. - October 2, 2025) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCQB: EQTRF), ("Altamira" or the "Company") is pleased to provide an update on recent drilling activities on district-scale drill targets within the Cajueiro project area, Brazil.

Highlights:

• Initial scout drilling on the first two of nine porphyry targets in the Cajueiro district has been completed. The Tavares Norte and Morro Verde targets are located within a corridor extending 8 kilometers east-west which is defined by a series of gold anomalies in soils and rock chip samples with coincident hydrothermal alteration and magnetic anomalies. The two mineral resources defined to date at Cajueiro Central and Maria Bonia are also located within or adjacent to this structural corridor

• A total of 1,256m in five drill holes has been completed to date and assay results are pending. Four of the five holes intersected porphyritic intrusive rocks, with associated potassic alteration and hydrothermal breccias and quartz veining, similar in style to the recently identified Maria Bonita gold deposit

• A second deep diamond drill hole is currently in progress at Maria Bonita, and is aimed at further testing the depth extension of the Maria Bonita deposit towards the south

CEO Mike Bennett commented; "We have completed the first scout drill tests at two of our nine district drill targets at Cajueiro. Four of the first five scout drill holes have intersected porphyritic intrusive rocks with potassic alteration and quartz veining. This supports our geological model of multiple porphyritic centres occurring in clusters or alignments within the Cajueiro District and points to similarities with the porphyry-style mineralization already identified at the Maria Bonita Mineral Resource.

Importantly, we are also seeing disseminated and vein hosted sulphide minerals, including chalcopyrite and molybdenite, suggesting proximity to a higher temperature hydrothermal centre. These are encouraging early signs, and we will continue to advance the testing of the district exploration targets in parallel with resource extension and delineation drilling at both the Maria Bonita and Central gold deposits."

Cajueiro District

The Cajueiro district is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso (Figure 1) 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 (Figure 1).

Figure 1: Location of Altamira Gold's projects in the Alta Floresta Belt.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4500/268863_314ad8f9f463c86d_001full.jpg

The Cajueiro district consists of two independently estimated gold mineral resources at Cajueiro Central and Maria Bonita, plus a series of additional untested exploration targets within a radius of 8km of Cajueiro Central.

The Cajueiro Central area has a current open pit resource¹ 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 515,000 oz in the Inferred Resource category (estimated using a cut-off grade of 0.25g/t gold and a gold price of US$1,500/oz).

The Maria Bonita open-pit resource consists of Indicated Resources of 24.19Mt @ 0.46g/t gold (for a total of 357,800oz) and Inferred Resources of 25.64Mt @ 0.44g/t gold (for a total of 362,400oz)². These resources were calculated using a 0.2 g/t gold cut-off grade and a gold price of US$2,780/oz. These resources include near-surface saprolite Indicated Resources of 2.02Mt @ 0.59g/t gold (38,000oz) and Inferred Resources of 0.68Mt @ 0.40g/t gold (8,700oz).

The Maria Bonita porphyry gold deposit is interpreted as part of a district-scale, porphyry-related mineralizing event.

Scout Drilling of District Targets

Scout drilling has recently tested the Tavares Norte and Morro Verde targets (Figure 2). These prospects are located within a pronounced east-west corridor extending over 8km and defined by an alignment of gold anomalies in soils and rock chips. The corridor is also partially defined by discrete sub-cropping quartz porphyry intrusions.

Figure 2: Recent scout drill targets Tavares Norte and Morro Verde in relation to the defined Mineral Resources at Cajueiro Central and Maria Bonita (white labels) and undrilled district targets (yellow). An alignment of six of the targets occur in close spatial association to a pronounced east-west fault corridor marked by later gabbroic dykes. 

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Tavares Norte Target

The Tavares Norte target is located 1km NW of the Central resource area (Figures 2 and 3). Two drill holes (aggregate 425 metres) have been completed to test a gold-in-soil anomaly of up to 497ppb gold, that coincides with strong hydrothermal alteration of brecciated felsic intrusive rocks. The target forms a minor positive topographic anomaly with moderate outcrop. Sub-cropping quartz veined felsic intrusives contain quartz veins that are similar to Maria Bonita. Surface grab samples⁺ have returned values up to 27.5g/t gold, 929ppm copper and 356ppm molybdenum (see press release dated September 2, 2025).

Drill hole TVN001 was completed to a depth of 198m and intersected quartz porphyry intrusive and associated magmatic breccias from 8 to 88 metres, showing potassic alteration with overprinted sericite and chlorite, along with sporadic quartz veining. Minor molybdenite and pyrite suggest proximity to a higher-temperature part of the hydrothermal system.

⁺By their nature, grab samples are not representative of the bulk metal content of a mineralized zone.

Drill hole TVN002, located approximately 100 metres east of TVN001 and targeting the centre of the gold-in-soil anomaly, was completed to a depth of 227m and intersected 60 metres of quartz porphyry intrusive. This interval contained preserved potassic alteration alternating with moderate sericite alteration, with the best-developed quartz stockwork observed between 71 and 80 metres.

Morro Verde Target

Located 1.5 km east of Tavares Norte, Morro Verde lies within a broad area of sericite alteration linking the two targets (Figures 2 and 3). Recent mapping identified outcrops of quartz-veined quartz porphyry and intrusive breccias within the alteration zone. Rock chip grab samples have returned up to 5.1 g/t gold, 356 ppm molybdenum, and 366 ppm copper (see press release dated September 2, 2025). The target is defined by gold-in-soil anomalies, drone magnetic lows indicative of hydrothermal alteration, and surface evidence of sericite alteration and quartz veining, and has been tested with three recce drill holes.

Figure 3: Scout drill holes Tavares Norte and Morro Verde prospects in relation to the Baldo zone in the northern part of the Central mineral resource.

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Three recce drill holes for an aggregate of 831m have been completed to date in this campaign on two separate areas at Morro Verde.

MRV001 and MRV002 were drilled on the same section to test a sub-cropping area of gossanous, sericitized rocks with grab sample values up to 5.2 g/t gold, 366 ppm copper and 356 ppm molybdenum. MRV002 was drilled to a depth of 90m and intersected 65m of quartz veined felsic porphyry from surface with potassic alteration overprinted by chlorite and sericite alteration. MRV003 was completed to a depth of 292m and intersected 43m of quartz veined porphyry.

Figure 4: Drill hole MRV002 (32m); A-type hydrothermal quartz veins with sericitic haloes within potassic altered porphyry.

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Drill assays are pending for these district recce drill holes. Additional scout drilling is planned at the other district targets within the coming weeks and months, aimed at identifying additional mineralized porphyry centres similar to the Maria Bonita porphyry gold deposit.

Follow up Deep Drilling at Maria Bonita

Results from the recently completed diamond drill hole MBA032 at Maria Bonita are still pending but as previously reported (see press release dated September 2, 2025), the hole cut approximately 500m of prospective quartz porphyry alteration and mineralization. Follow up drilling is currently continuing with a second deep drill hole in progress which is designed to continue testing the southerly depth extensions to the Maria Bonita mineral resource.

Increasing Altamira Gold's Profile

Altamira Gold has entered into the following agreements to help raise its visibility in the public markets.

The Company has entered into a Services Agreement (the "CanaCom Agreement") with 2686362 Ontario Corporation dba CanaCom Group ("CanaCom Group") pursuant to which CanaCom Group has agreed to provide digital content, marketing and media distribution services to the Company. Pursuant to the terms of the CanaCom Agreement, such marketing services are to be provided over a 12-month period, for a fee of C$60,000 plus applicable taxes. CanaCom Group is a full-service marketing agency based in Oakville, Ontario and is headed by Jordan Lutz. CanaCom Group provides digital marketing awareness via advertising through its fully owned platform theDeepDive.ca, which includes both video and written content coverage of Canadian small-cap stories.

Altamira Gold has also agreed to the terms of a media services contract (the "Market One Contract") with Market One Media Group Inc. ("Market One") pursuant to which Market One will create tailored marketing programs for the Company. Altamira will pay Market One $24,000 plus applicable taxes for these services and the Market One Contract will have a term of 12 months. Market One provides on camera interviews for broadcast on BNN Bloomberg, editorial content, and online video services to its extensive roster of publicly listed companies.

Qualified Person

Guillermo Hughes, FAIG and M Aus IMM., 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 and copper 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 6 million ounces of placer gold³. The Company's advanced Cajueiro project contains two gold deposits. The central area comprises 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. In addition, the Maria Bonita gold deposit comprises additional open pit Indicated Resources of 24.19Mt @ 0.46g/t for a total of 357,800oz, and Inferred Resources of 25.64Mt @ 0.44g/t for a total of 362,400oz.

Ongoing 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 track record of significant discoveries, the Company is well-positioned to unlock further value across its extensive land package.

¹NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, 10^thOctober 2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA

² NI43-101 Technical Report, Mineral Resource for the Maria Bonita Prospect: VMG Consultoria, Belo Horizonte, Minas Gerais, Brazil. 12^th June 2025; Author V. Myadzel

³ Juliani, C. et al; Gold in Paleoproterozoic (2.1 to 1.77 Ga) Continental Magmatic Arcs at the Tapajós and Juruena Mineral Provinces (Amazonian Craton, Brazil): A New Frontier for the Exploration of Epithermal-Porphyry and Related Deposits. Minerals 2021, 11, 714. https://doi.org/10.3390/min11070714

On Behalf of the Board of Directors,

ALTAMIRA GOLD CORP.

"Michael Bennett"

Michael Bennett
President & CEO

Tel: 604.676.5661
Toll-Free:1-833-606-6271
info@altamiragold.com
www.altamiragold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities described herein have not been registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act and any applicable state securities laws.

Forward-looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the extension of the Warrants. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "intends" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

Notes

Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company's exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Drill holes results are quoted as down-hole length weighted intersections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268863

FAQ

What were the main findings from Altamira Gold's (EQTRF) recent drilling at Cajueiro?

The company completed 1,256 meters of drilling across 5 holes, with 4 holes intersecting porphyritic intrusive rocks showing potassic alteration and hydrothermal breccias. Assay results are pending.

What are the current gold resources at Altamira's Cajueiro project?

The project has two resources: Cajueiro Central with 185,000 oz Indicated and 515,000 oz Inferred, and Maria Bonita with 357,800 oz Indicated and 362,400 oz Inferred.

Where is Altamira Gold's Cajueiro project located?

The Cajueiro project is located 75km northwest of Alta Floresta in Mato Grosso state, Brazil. It has good infrastructure including road access, grid power, and local water supply.

What were the highest gold values found in surface samples at EQTRF's Tavares Norte target?

Surface grab samples at Tavares Norte returned values up to 27.5 g/t gold, along with 929ppm copper and 356ppm molybdenum.

How many porphyry targets has Altamira identified at the Cajueiro project?

Altamira has identified nine porphyry targets in the Cajueiro district, of which two (Tavares Norte and Morro Verde) have been initially tested through scout drilling.