PRESS RELEASE TSXV:ALT

Alturas reports on exploration progress and results from

their Utupara, Baños del Indio and Huilacollo projects

Toronto, August 29, 2007 – Alturas Minerals Corp. (the “Company”) (TSX-V: ALT) today provided an
update on exploration of their Peruvian gold-silver and copper-gold projects. Miguel Cardozo,
President & CEO, commented “We are pleased to report that drilling at our copper-gold porphyry
Utupara project in southern Peru is encountering disseminated copper-gold mineralization over
significant intervals in all drill holes completed to date. The assay results received for the first two
holes confirm that the system is mineralized at least to depths of several hundred meters and that
promising copper and gold grade intervals are present in the system. These are still early days at
Utupara and we have yet to drill many of the high priority copper-gold targets that have been defined
by careful geological, geochemical and geophysical work in this very large and complex but strongly
copper-gold mineralized district. At our Baños del Indio gold-silver project, we are rapidly advancing
drill target definition to the point where diamond drilling will be ready to start in October 2007, and at
our Huilacollo gold-silver project, metallurgical test work has demonstrated the potential heap
leachable nature of the gold-silver mineralization intercepted by Alturas’ 2006 drilling.

For maps and sections showing exploration results for each project, refer to the Company´s website
www.alturasminerals.com

Utupara copper-gold project

The Phase 1 diamond drilling program of 5,000 meters commenced on July 11th (see previous press
release of the same date). Three drill holes for 917.4 meters have been completed to date and the
assays received for the first two are summarized below:
Drill Hole From (m) To (m) Length (m) Cu wt. av. (%) Au wt. av. (g/t)
UTU-01 0.00 410.00 410.00 0.11 0.02
" including 368.00 390.00 22.00 0.28 0.04
" including 401.20 406.00 4.80 0.35 0.06

Drill Hole From (m) To (m) Length (m) Cu wt. av. (%) Au wt. av. (g/t)
UTU-02 0.00 248.00 248.00 0.11 0.12
" including 18.00 36.00 18.00 0.37 0.15
"including 36.00 84.00 48.00 0.04 0.35
"including 84.00 104.00 20.00 0.33 0.16
248.00 300.00 52.00 not assayed not assayed

HOLE Easting Northing RL (m) LENGTH(m) AZIMUTH INCLIN. TARGET

UTU-01 735780 8412202 4363.1 410 270 -50 Cachorro
UTU-01 735700 8412000 4415 300 270 -50 Cachorro
UTU-01 735700 8412000 4415 207.4 90 -60 Cachorro
all coordinates refer to utm zone 18S, datum PSAD56

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More complete assay results will progressively become available in the coming months. Drilling
results to date indicate that broad intervals of low-grade copper and gold mineralization are present at
Cachorro, interspersed with zones of higher copper and gold grade associated with zones of intrusive
breccias and monzonite dykes.

The presence of higher grade copper-gold zones in the drill holes is consistent with values from
Alturas’s recent trench sampling of similar breccia zones located 850 metres to the west of the area of
current drilling. These breccias reported 0.57 % copper and 0.18 grams/tonne gold over 56 metres.
Collectively these observations give an indication of the three dimensional size potential of the
Cachorro system.

Three or four additional holes will be drilled within the same 2 x 1 kilometer, northeast-southwest
trending Cachorro corridor, before temporarily moving the drill rig over to the Cerro Añasino skarn
targets while the company evaluates the results to date and optimizes the remaining drilling of
Cachorro.

The current phase of drilling will also test zones of copper-gold skarns in the Cerro Añasino 1, 2 and 3
areas east of Cachorro (see Alturas press release dated April 26, 2007). Detailed mapping and
geochemical sampling also continues at specific outlying prospects, including the Huaychullo copper-
gold skarn zone on the western contact of the Utupara intrusive complex some 2.9 kilometers west-
northwest of Cachorro. At Huaychullo, Alturas´s recent trench sampling reported a continuous interval
of 9 metres @ 3.08% copper and 3.92 grams/tonne gold across endoskarn structures. The
mineralized skarns adjoin important chargeability highs and will be targeted for drilling.

Refer to the Company´s website www.alturasminerals.com/utupara_4.htm

Baños del Indio gold-silver project

The 6.537 hectare Baños del Indio property package included in the option contract between Alturas
and Minex has been formally transferred to Alturas, which now owns 100% of the mining concessions.
All option payments have been completed and the only pending obligations of Alturas are a US$2
million success fee after commencement of production and the NSR royalty stated in the contract.

At the Baños del Indio project, Alturas has recently completed 1:5,000 geological and alteration
mapping. Geophysicist Phil McInerney from Intrepid Geophysics of Australia is collaborating with
Alturas on the 3D geological modeling of the geology and alteration, using the GEOMODELLER
software. All Alturas datasets including geology, alteration, rock chip geochemistry, ground magnetics
and Induced Polarization / Resistivity are being integrated into this study (see previous Alturas press
release dated December 5, 2006).

High grade gold-silver feeder structures have been identified in the northern part of the project. These
structures underly, and merge southwards into, the structurally higher Llaurimorco target area, where
silicified breccia structures showing strong pathfinder element geochemistry signature most likely
represent the upper levels of a larger, disseminated epithermal gold-silver system.

Drilling target definition is currently in progress based upon the high sulfidation epithermal gold-silver
mineralization model developed by Alturas. Drill testing of targets is programmed to commence in
October 2007, pending government environmental approvals.

Refer to the Company´s website www.alturasminerals.com/banos_01.htm

Huilacollo gold-silver project

Preliminary results from metallurgical test work (approximately 2 kg sample -10 mesh -2mm bottle roll
cyanide leach tests) for five different mineralization types have been received from Plenge
Laboratories of Lima, Peru. The results indicate that gold and silver contained in the Cerro
Andamarca mineralization is potentially heap leachable with favorable recoveries. The composited
mineral types and their corresponding calculated gold grades that were tested are:

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 GMET-01 Vuggy silica 0.73 grams/tonne gold
GMET-02 Grey massive silica 1.52 grams/tonne gold
GMET-03 Cream massive-granular silica 0.29 grams/tonne gold
GMET-04 High grade siliceous breccia 3.05 grams/tonne gold
GMET-05 Cream granular silica 1.12 grams/tonne gold
The preliminary results are very encouraging and confirm that in 96 hours, 78.1 to 88.8% extraction of
gold and 31.3 to 48.2% extraction of silver are achievable at a concentration of 0.5 g/L cyanide.
Cyanide consumption varies between 0.49 and 0.69 kg/t. At at lower cyanide concentration of 0.1 g/L
cyanide, in 96 hours 70.1 to 84.4% extraction of gold and 14.3 to 31.3% extraction of silver are
achievable. Cyanide consumption varies between 0.18 and 0.31 kg/t.

Refer to the Company´s website www.alturasminerals.com/huila_6.htm

About Alturas´s QA/QC Procedures.

Strict sample integrity is maintained throughout the geochemical sampling program. The bagged
samples are transported by Alturas staff to the city of Abancay in Southern Peru where they are
shipped directly to Inspéctorate Services Perú SAC Labs in Lima. Inspectorate is an ISO 9001:2000
certified laboratory that is preparing for ISO 17025 accreditation. At the Inspectorate´s Lima
facility, all samples are dried then crushed to 90% -10 mesh (<2mm) size; then riffle split to obtain an
approximately 200 gram subsample. The subsample is further crushed to 95% -200 mesh (<75
microns) to obtain a 100 gram split ready for analysis. All samples are routinely assayed for gold by
conventional fire-assay methods at Inspectorate´s Lima facility, and for 34 additional elements
(including silver, copper, lead, zinc) using aqua regia acid digestion followed by Inductively Coupled
Plasma-Atomic Emission Spectroscopy ("ICP-AES") analysis.

Alturas follows a rigorous QC/QA program, including routine insertion of standards and blanks as well
as assay of duplicate samples at other independent laboratories. Certified standards, of known gold
grade are inserted “blind” every 20th sample as an independent check on assay accuracy.

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the parent of Alturas Minerals S.A. (“Alturas Peru”). Alturas Peru has
been actively exploring various mineral projects in Peru since January 2004. The principal assets of Alturas are
four mineral exploration projects located in southern Peru, being the Huilacollo Gold Project, the Baños del Indio
Gold Project, the Utupara Copper-Gold Project and the Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru
has interests in fourteen other exploration projects in Peru. Alturas’ exploration strategy is focused on the
discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits. For further
information, please visit the Company's website at www.alturasminerals.com.

As required by the National Instrument 43-101, Alturas's designated Qualified Person for the
supervision of exploration of the projects is Dr. Paul Pearson, F. AUSIMM, Vice President-Exploration
of the Company, who has verified the technical information reported in this News Release.

For further information please contact:

Miguel Cardozo, President & Chief Executive Officer Linda Armstrong, Vice President
Alturas Minerals Corp. CHF Investor Relations
Phone: 011-511-475-1700
(Peru) Phone: 416-868-1079 ext. 229
Email: [email protected] Email: [email protected]

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The TSX Venture Exchange does 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