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TORONTO, ONTARIO--(Marketwire - June 1, 2010) - Alturas Minerals Corp. (the "Company" or "Alturas") (TSX VENTURE:ALT)(BVLAC:ALT) is pleased to announce that it has now increased its share in the Huajoto Polymetallic Project in southern Peru to 100%. On May 20th, 2010 the Company and its Joint Venture partner Teck Cominco Peru S.A. ("Teck") signed a resolution terminating the local mining assignment agreement pertaining to the Hujaoto Joint Venture and finalizing the transfer of the mining concessions previously held by Teck to Alturas Peru. Teck passed its remaining 35% interest in the property to Alturas in consideration for 1 million Alturas shares plus a 1% NSR royalty on gold and a 0.5% NSR on all other metals extracted from the property. The issue of shares to Teck is subject to approval by the TSX Venture Exchange.

Miguel Cardozo, Chairman commented, "We are pleased to now have 100% ownership of the Huajoto project. Based on the positive mineralization indications uncovered to date, we believes that the Huajoto property has the potential to yield significant economic value to Alturas, including the important zinc, copper and rare earth mineralization drilled at the Caty-Pablo area and the still unexplored gold-silver high-sulfidation mineralization style reported from the La Virgen area".

About the Huajoto Zinc-Gold Rare Earth Element project

The Huajoto Project is situated 22 kilometers northwest of the historical mining town of Huancavelica in Central Peru. The project is comprised of eight contiguous mineral concessions with a totaling 3,700 hectares. Three parties have contributed claims to the project. Teck holds title to Huajoto 3 and 4, while Alturas controls the Conaica 1, 2, 3, 4 and Huajoto 5 concessions. The underlying Esperanza Uno concession is controlled by COMACSA, which is a Peruvian industrial minerals company.

In an agreement signed on August 24, 2007 Alturas was granted a first option by Teck to acquire an initial 65% interest in Teck's claims by spending US$1.5 million on exploration on the property over 3 years. After earning this equity, both parties were to have had a second option to form a joint venture company between Alturas (65%) and Teck (35%). However, the agreement included a provision that Teck could elect either to contribute pro-rata thereafter or to exit and receive either cash or Alturas shares in consideration for its remaining 35% interest plus an NSR royalty.

Alturas also agreed with COMACSA to acquire the underlying Esperanza Uno property by way of a mining assignment and option agreement in favor of Alturas for five years. Staggered cash payments for a total of US$100,000 would be made to COMACSA over the first four years. No exploration commitments were included in the contract. However, if Alturas, in agreement with Teck, were to exercise the option, COMACSA would receive a 5% net profit interest in the joint venture company formed by Alturas and Teck, in return for the transfer of its Esperanza Uno property to the joint venture company.

On February 17, 2010, the Company announced the agreement with Teck to acquire 100% of the project and released the Company reports on a recently completed geological study that greatly expands the Rare Earth Element (REE) potential of the property.

For maps and an extended summary of exploration results, refer to the Company's website [ www.alturasminerals.com/project-pdfs.html ]

About Alturas Minerals Corp.

Alturas is a Canadian corporation, and is the parent of Alturas Minerals S.A. ("Alturas Peru") and Alturas Minerals 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 actively exploring various mineral projects in Peru since January 2004. Alturas' properties include four drill-ready mineral exploration projects located in central and southern Peru, which includes the Chapi Chapi-Utupara Copper-Gold Project, the Sombrero Copper-Gold Project, the Ccaccapaqui Gold-Silver Project and the Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru has interests in four other exploration projects in Peru.

Alturas Chile has recently entered into a Final Option Agreement to acquire 100% of the La Corina copper-gold porphyry property in northern Chile. Drilling of the property is programmed for the second quarter of 2010.

For further information, please visit the Company's website at [ www.alturasminerals.com ].