|March 19, 2009|
Alturas Announces Changes to Management and Board of Directors
Toronto, Canada and Lima, Peru, March 19, 2009 – Alturas Minerals Corp. (“Alturas” or the “Company”) (TSX-V and BVL: “ALT”) is pleased to announce the appointment of Paul Pearson to the position of President and Chief Executive Officer effective April 1, 2009. Mr. Pearson will also retain his position as a director of the company.
Mr. Pearson has served as Vice President Exploration for Alturas since the Company was listed on the TSX-V in 2006. He has 25 years of gold and base metal experience in Australia and South America, and has been an active explorer in Peru for the last 13 years. Before joining the Company, Mr. Pearson acquired extensive project generation and management experience whilst serving with Mount Isa Mines, SRK Consulting, El Misti Gold, North Limited and Teck-Cominco.
Mr. Pearson will succeed Mr. Miguel Cardozo, who will take up the position of Chairman of the Board of Directors on the same date. The Board of Directors has also accepted the resignation of Augusto Baertl as Chairman. Mr. Baertl will remain with Alturas as an independent member of the Board of Directors.
The changes implemented by Alturas’ Board of Directors are part the Company’s strategy to take the Company through the current period of market uncertainty. The reorganization will allow the company to preserve the collective skills of its team while reducing costs to a minimum.
The Company also reports that Craig Williams has resigned from the Board of Directors effective March 5th, 2009 due to personal reasons. Mr. Williams, together with another former director, the late Mr. Bruce Nisbet, have supported the Alturas venture since its inception as a private company in 2004 and have been instrumental in the development of the overall strategic vision and direction of company.
The Board thanked Mr. Cardozo, Mr. Baertl and Mr. Williams for their contribution in building a solid foundation upon which the Company can grow in the future.
Mr. Cardozo said “Alturas has made great strides in recent years and the time is right for a leadership change in the company. We are confident that Mr. Pearson brings the right professional background and set of skills to position the Company for future growth. I will continue to be actively involved at the Board level to facilitate the management transition and to help Alturas realize its full potential".
Mr. Pearson stated “I wish to acknowledge the important contribution of Mr. Cardozo in the building of Alturas and am pleased to take on this role at this pivotal stage in the development of the company. Although the present financial crisis presents some significant challenges, I believe that we are seeing some unprecedented opportunities presenting themselves in the industry and that the combination of Alturas’s human and project assets can be successfully leveraged to build long-term shareholder value”
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. Alturas’ principal properties are three mineral exploration projects located in central and southern Peru, which includes the Huajoto Gold-Silver-Zinc Project, the Utupara-Chapi Chapi Copper-Gold Project the Sombrero Copper-Gold Project and the Ccaccapaqui Gold-Silver Project. In addition, Alturas Peru has interests in eight 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
For further information please contact Thomas Findley at:
Phone: + 1-877-471-1376 (North America Toll Free) / + 51-1- 628-5123 (Peru)
Alturas Minerals Corp.
- 161 Bay Street, 27th Floor, Toronto, Canada, ON M5J 2S1 2S8
- Manuel de Falla 297, Floor 5th, San Borja, Lima 41, Peru
The TSX Venture Exchange (TSXV)and the Bolsa de Valores de Lima (BVL) 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.