Alturas Announces Debt Settlement

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 Compania 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Alturas Minerals Corp.
+ 51-1-372-3739 (Lima, Peru)
Av. Del Pinar 180, Suite 804,
Chacarilla del Estanque, Lima 33, Peru


Alturas Minerals Corp.
+ 1-416-363-4900 (Toronto, Canada)
67 Yonge Street, Suite 1102,
Toronto, ON Canada M5E 1J8
investor@alturasminerals.com
www.alturasminerals.com

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