Altamira Gold Drills 130m @ 0.5g/t Gold in Step-Out Hole 110m North of the Maria Bonita Mineral Resource, Within the Cajueiro District, Brazil

Vancouver, British Columbia–(Newsfile Corp. – May 20, 2026) – Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTCQB: EQTRF), (“Altamira” or the “Company“) is pleased to report assay results from a second recent exploration diamond drill hole outside the Maria Bonita mineral resource.

Highlights:

• Scout drill hole MBA037 intersected a wide interval of gold mineralization within porphyritic and tuffaceous host rocks and is located 110m north of the edge of the current Maria Bonita mineral resource. It is also 300 metres north of drill hole MBA036.

• MBA037 returned 9m @ 0.7 g/t gold from 39m and 130m @ 0.5g/t gold from 97m downhole. The latter interval includes 40m @ 0.8g/t gold from 100m down hole depth.

• The style of mineralization is similar to the early-stage quartz vein and stockwork mineralization found in the core of the Maria Bonita mineral resource and previously encountered in drill hole MBA036.

• This intercept suggests that the Maria Bonita gold deposit is open to the west and now the north and also at depth.

CEO Mike Bennett commented; “The latest two drill holes completed at Maria Bonita have exceeded our expectations and were both drilled outside the current resource envelope. The results from drill holes MBA036 and MBA037 suggest that the porphyry-hosted gold deposit at Maria Bonita remains open to the west and also to the north. The distance between the two step-out holes is approximately 300 metres, and possible mineralized extensions of these blocks need to be tested both to the north and to the south. The mineralization demonstrates the same consistency over wide intervals as that seen in the early phase porphyry in the core of the Maria Bonita mineral resource. Further drill holes are being planned in order to determine the continuity and extent of these new mineralized zones within the Maria Bonita porphyry system.”

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.

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The Cajueiro district consists of two independently estimated gold mineral resources at Cajueiro Central and Maria Bonita, plus a series of eight 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 containing 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold (515,000 oz) in the Inferred Resource category (estimated using a cut-off grade of 0.25g/t Au 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 (357,800oz) and Inferred Resources of 25.64Mt @ 0.44g/t gold (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 forms part of a district-scale portfolio of prospects that are interpreted as having a similar geological origin (Figure 2).

Figure 2: Cajueiro district mineral resources at Cajueiro Central and Maria Bonita (white labels) and prospects (blue labels with scout drilling, yellow labels not yet drilled). 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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Maria Bonita Drilling Update

Three diamond drill holes have now been completed to the west and north and outside of the defined mineral resource (Figure 3). Hole MBA037 is the second hole and confirms the existence of early porphyry containing zones of good quartz vein development from a relatively shallow depth of 95m downhole (78m vertical). Interestingly, the gold mineralization is hosted in both the porphyritic intrusive and in the tuffaceous wall rocks. The hole intersected 9m @ 0.7 g/t gold from 39m and 130m @ 0.5g/t gold from 97m downhole including 40m @ 0.8g/t gold from 100m down hole depth (Figures 3 and 4). The hole was collared 55m north of the northern boundary of the optimised pit developed on the mineral resource and was drilled with an azimuth of 340° and a dip of 55°. The mineralized interval is located 110m north of the edge of the current Maria Bonita mineral resource.

Mineralization occurs within a wide interval of quartz veined porphyry mineralization similar to the early-stage quartz vein and stockwork mineralization found in the core of the Maria Bonita mineral resource and that found in MBA036 (Figures 5 and 6).

Figure 3: Location and mineralized intercepts of drill holes MBA036 and MBA037 on a background of airborne magnetic data, in relation to the outline of the optimized pit developed on the mineral resource.

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Figure 4: Cross section of drill hole MBA037. 

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Figure 5: Typical quartz veining within the early porphyry MBA037: 107.58m. Assay interval 1m @ 0.85g/t gold.

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Figure 6: Typical quartz veining within the early porphyry MBA037: 132.50m. Assay interval 1m @ 1.69g/t gold.

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Next Steps

The Company is actively extending the drill coverage on these new targets with step-out holes to the north to trace the extent of the newly discovered blocks of mineralized porphyry.

Qualified Person

Fernando Benegas, FAusIMM, a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised and approved 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 projects within western central Brazil, strategically advancing four 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. Ongoing exploration and fieldwork at Cajueiro indicate the presence of multiple hard rock gold occurrences, traceable from 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

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

³Juliani, 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

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.

Quality Assurance/Quality Control

Drill holes commence in HQ diameter (63.5mm) and proceed to the base of weathering where core diameter is reduced to NQ (47.6mm). Logging and sampling are completed at a secure Company facility located on site. Drill core is cut in half on site by a saw cut or slicer (in soft saprolite).

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.

For all drilling, half core is submitted to SGS Geosol, a leading commercial laboratory in Brazil and analysed for gold by 50g fire assay, plus a suite of other elements by the ICP atomic absorption method, using standard laboratory procedures. Soil and rock chip samples follow the same analytical protocol.

Quality control of drill hole assays follows normal industry procedures of inserting control samples randomly into the submitted batch, comprising field duplicates, independent reference samples and “blank” samples. Selected batches of sample pulps are periodically resubmitted to a third-party laboratory to check the main laboratory precision and accuracy.

Drill holes results are quoted as down-hole length weighted intersections.

Additional information regarding the Company data verification processes is set out in the NI 43-101 Technical Report, Maria Bonita Prospect, June 2025, which can be found on the Company’s website.

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