Altamira Gold Corp. announced that it has received the first Trial Mining License with respect to permit 866.160/2007 for its advanced Cajueiro Gold Project in northern Mato Grosso State in western Brazil. Altamira's 2019 NI 43-101 Mineral Resource Estimate was recently completed by Global Resource Engineering Ltd. ("GRE"), and totals 5,661,000 tonnes @ 1.02 g/t gold for a total of 185,000 oz of gold (Indicated) and 12,665,000 tonnes @ 1.26 g/t gold for a total of 515,000oz of gold (Inferred). The resources are confined to an area of approximately 285 ha whilst the total area comprising the Cajueiro concession area amounts to 28,559ha. Permitting activities related to the receipt of the three additional Trial Mining Licenses for the three claim blocks directly north of the Crente target are ongoing, however these are not necessary in order to commence construction or production from the current license (No 041/2019). Pursuant to the arrangement signed on August 8, 2019, FMS will sole finance the construction of a 1,000-tonne-per-day processing plant (currently estimated to cost $2.4-million (U.S.)) and be responsible for providing the surface mining fleet and staffing, and operating the trial mining project. The preproduction capital costs will be paid back from 70% of the net income flowing from the operation, and the remaining net income will be split 50:50 FMS and Altamira, resulting in Altamira receiving 15% of the net income from the operation until payback of construction costs and 50% thereafter. All additional costs, including those required for any expansion, will be financed on a 50:50 basis. The arrangement gives FMS no ownership of Altamira's Cajueiro gold project or the resources contained therein and may be terminated by either party at any time, subject to the reimbursement by the terminating party of all losses suffered by the other parties due to the early termination. The production decision is not based on a feasibility study of mineral reserves demonstrating economic and technical viability, and as a result there is increased uncertainty and multiple technical and economic risks associated with this production decision. These risks, among others, include areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgical testing and specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts. In accordance with NI 43-101 and the accompanying policy to that instrument, Altamira cannot provide any guidance either in terms of anticipated gold production or net cash flows.