TORONTO, ONTARIO–(Sept. 8, 2006)
Alturas Minerals Corp. is pleased to provide an update on positive political developments in Peru, where the Company’s exploration activities are currently focused.
As reported previously (press release dated June 27, 2006), recent presidential elections resulted in the victory of Alan Garcia Perez of the APRA party, whose government formally took power at the end of July 2006. In keeping with the new government’s policies of maintaining Peru as an attractive investment destination, the government has reached a voluntary accord with mining companies that will increase the miners’ financial contribution to the country.
Prime Minister Jorge del Castillo announced the proposed scheme, whereby mining companies with production revenue will make a voluntary contribution estimated at a total of 2.50 billion Peruvian Soles (US$ 773 million) over five years to finance social investments.
Alturas’ President and Chief Executive Officer Miguel Cardozo commented: "We welcome the new government’s proposal as being a very positive and balanced strategy towards addressing two separate but intimately linked issues – the need to maintain a healthy investment climate that respects legal commitments and legal stability, while at the same time encouraging mining companies in achieving their social responsibilities and help in the reduction of poverty in the country."
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 Banos 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.
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