ALT Alturas Minerals Corp

Alturas Minerals Corp. (the "Company" or "Alturas") (TSX VENTURE:ALT) (LMA:ALT)
announced today that it has entered into a third amendment ("Third Addenda") to
the framework agreement with Minera IRL Limited ("IRL"), a Jersey-registered
company listed on the Toronto Stock Exchange, the London AIM market and the Lima
Stock Exchange ("IRL"), regarding the adjacent Utupara and Chapi-Chapi
properties within the Huaquirca copper-gold district in south-eastern Peru.


Miguel Cardozo, President and CEO of Alturas commented: "We are pleased to have
concluded a successful renegotiation of the deal with IRL, and to have the
opportunity of continuing our exploration efforts in the ChapiChapi property,
which together with our immediately adjacent Utupara project, contain
significant Cu-Au-Ag-Mo mineralized targets that have been partially drilled by
Alturas with technically encouraging results".


According to the modified agreement, IRL has waived the requirement for Alturas
to complete the earn-in requirements (a further 9,500 m drill program and a
scoping study). In consideration for this waiver, Alturas agreed to pay IRL the
sum of US$1,000,000 ("Overall Indemnification and Settlement Payment"). ALTURAS
has made an initial payment to IRL US$ 50,000 and the remaining US$ 950,000 is
due to be paid by Alturas concurrently with the execution by Minera IRL of the
public deed of incorporation of NEWCO programmed on or before December 31, 2013.


Once the Joint Venture is incorporated and Alturas has satisfied its payment to
IRL, both parties will contribute pro-rata according to their percentage
interests, subject to the usual dilution. If IRL were to dilute below a 20%
interest it could convert that part of its interest to a 2% NSR and a 10%
interest in the joint venture properties. If IRL were to further dilute its
interest to below 10%, it would be entitled to an additional 1% NSR (for a total
3% NSR in consideration of its 20% interest). The NSR is subject to a total
buyout for US$ 5 million at Alturas's option.


Pursuant to the Third Addenda, Alturas has also authorized IRL to search for an
investor or strategic partner who might be interested in investing in the
Chapi-Chapi mining project, along with ALTURAS and IRL. In the event that by
December 31, 2013, IRL (a) finds an Investor; (b) introduces it to ALTURAS, (c)
a formal and definitive agreement is reached and signed between ALTURAS and the
Investor, and (d) IRL expresses in writing its consent and acceptance to the
terms of the agreement executed between ALTURAS and the Investor; IRL shall
become entitled to earn-in, in addition to the 20% interest resulting from its
contributions for the incorporation of NEWCO, an additional interest in NEWCO
that is equivalent to 5% of NEWCO's voting shares.


Alturas is 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.


For further information on the terms on the Utupara-ChapiChapi agreement with
IRL see Alturas Financial Statements or MD&A for the six months ended June 30,
2013 or the Company's Annual information form available at SEDAR
(www.sedar.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


Alturas Minerals Corp.
67 Yonge Street, Suite 1102
Toronto, ON Canada M5E 1J8


Alturas Minerals Corp.
Av. Del Pinar 180, Suite 804
Chacarilla del Estanque, Lima 33, Peru

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