Altamira Stakes Additional Ground in Juruena Belt, Brazil

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2018) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF), ("Altamira" or the "Company") is pleased to report that the Company has claimed an additional 51,553 ha within the Juruena belt of Mato Grosso, Brazil. These new claims are located within the Santa Helena and Colider project areas and are in addition to the areas previously acquired in April 2018 (see press release dated 4^th April 2018).

Altamira has increased the size of its land position at the Santa Helena project by 40,088 ha from 18,506 ha to 58,594 ha and also staked an additional 11,465 ha at the Colider project immediately west of Santa Helena, bringing the total for Colider to 15,681 ha.

The Santa Helena Project is located in the eastern part of the Juruena belt in central Brazil and is being explored by Altamira for concealed copper-gold mineralization. Results are currently pending on a program of surface rock and soil sampling. These new claims are located less than 60km from the recent copper discovery by Anglo American which sparked a major staking rush in September 2017.

The Company also announces that it has granted 1,070,000 stock options to directors, officers and employees of the Company. The stock options are exercisable for a term of five years at an exercise price of $0.17 per common share under the terms of the Company's Stock Option Plan.

About Altamira Gold Corp.

The Company is focused on the exploration and development of gold deposits within western central Brazil. The Company holds 12 projects comprising approximately 200,000 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 an NI 43-101 resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred Resource category (Gustavson Associates, 2016).

On Behalf of the Board of Directors,

ALTAMIRA GOLD CORP.

"Michael Bennett"

Michael Bennett
President & CEO

Tel: 604.676.5660
[email protected]

For more information contact:

Sean Kingsley VP, Corporate Development
Phone: +1 604 440 8474
Toll-Free: +1 833 606 6271
Email: [email protected]

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

Forward-Looking Statements

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward-looking statements.