Alturas Minerals Corp. Reports Cease Trade Order Issued by The Ontario Securities Commissions

TORONTO, ON, June 24, 2020 -- Alturas Minerals Corp. ("Alturas", the "Company", "we", "our" or "us") (ALT:TSX-V) (ALT: BVL) announced that, effective on June 22, 2020, the Company received a cease trade order (the "Cease Trade Order") issued by the Ontario Securities Commissions as a result of Alturas failure to file the following periodic disclosure (the "Annual Filings") required by Ontario securities legislation:

• The Company's audited annual financial statements for the year ended December 31, 2019;
• Management's Discussion and Analysis relating to the Company's audited annual financial statements for the year ended December 31, 2019;
• Certification of the foregoing filings by the Company as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings.

The Cease Trade Order, among other things, prohibits any person or company from trading, directly or indirectly, in any security of the Company in the Province of Ontario, and in every other province or territory of Canada in which Alturas is a reporting issuer and in which Multilateral Instrument 11- 103 – Failure-to-File Cease Trade Orders in Multiple Jurisdictions applies.

The Company has prepared its annual audited financial statements, however, because of certain cash flow deficiencies, it has not been able to conclude the filing of the above-mentioned information. Management is currently assessing different alternatives to solve this issue and promptly regularize its filing requirements.

At the same time, following the announcement on its press release dated April 30, 2020 where the Company disclosed that it will rely on this exemption with respect to the Annual Filings as well as its First Quarter Filings in accordance with Ontario Instrument 51-502Temporary Exemption from Certain Corporate Finance Requirements, the Company reiterates its intention to file its First Quarter Filings on or around July 29, 2020. Accordingly, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since its press release on April 30, 2020 there have been no material business developments.

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the parent company of Alturas Minerals S.A. (“Alturas Peru”) and Alturas Chile Ltda (“Alturas Chile”). Alturas’ exploration strategy is focused on the discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits in Peru and Chile.

Alturas Peru has been exploring various mineral projects in Peru since January 2004. Alturas’ properties include interests in projects located in central and southern Peru including the Sombrero Copper-Gold Project, currently optioned to Auryn Resources Ltd. And the Pampa Colorada Project, currently optioned to Origen Group S.A.C.

For further information, please visit the Company's website at www.alturasminerals.c For further information please contact Alturas at:

Alturas Minerals Corp.

301-372 Bay St., Toronto, ON, M5H 2W9 Phone: (416) 363-4900 Email:

and

(“Alturas Perú”) Av. Javier Prado Este 1238, Corpac, San Isidro in Lima, Perú.

Should you wish to receive Company news via email, please email [email protected] 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 and Peruvian securities authorities.