Altima Closes Equity Financing for Gross Proceeds of $3,501,880

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Altima Resources Ltd. (TSX VENTURE:ARH)(FRANKFURT:AKC) ("Altima" or the
"Company") announces that it has closed the private placement announced in a
News Release dated March 13, 2012. On April 2, 2012 the Company received
acceptance from the TSX Venture Exchange to close the private placement.


In accordance with the provisions of the Subscription Agreements, on April 4,
2012, the Company issued:




--  a total of 6,300,000 FT Units at $0.05 per FT Unit, each FT Unit
    consisting of one flow-through common share and one (1) share purchase
    warrant, each whole warrant entitling the holder to purchase one
    additional common share at $0.10 per share on or before April 3, 2013;
    and 
--  a total of 63,737,600 NFT Units at $0.05 per NFT Unit, each NFT Unit
    consisting of one common share and one (1) share purchase warrant, each
    warrant entitling the holder to purchase one (1) additional common share
    at $0.10 per share on or before April 3, 2014.



The Company also paid a total of $6,000 and issued a total of 3,508,760 common
shares at a deemed price of $0.05 per share as finders' fees in connection with
the NFT Unit private placement.


All of these shares, including any shares issued on exercise of the warrants or
issued as finder's fees, will be subject to a hold period under applicable
Canadian securities laws expiring on August 5, 2012, and will be subject to such
further restrictions on resale as may apply under applicable foreign securities
laws;


Net Proceeds of $315,000 raised from the Flow-Through private placement will be
used towards the completion and stimulation of the COPOL ET AL HZ CHAMBERS
14-15-41-11 W5M well (reference News Releases February 1, 13 and 28, 2012),
pipelining, connection to the COPOL Chambers compressor station. The exploration
work conducted will qualify as Canadian Exploration Expense for the purposes of
the Income Tax Act (Canada), which will then be renounced by the Company to the
FT Unit subscribers.


Four Insiders, together with the spouse and child of an Insider, have directly
and/or indirectly subscribed for a total of 4,200,000 FT Units and 1,500,000 NFT
Units from the financing, and accordingly that related party may acquire up to
an additional 11,400,000 common shares in the capital stock of the Company
(including shares that may be issued on exercise of warrants issued in
connection with this financing), which will increase their pro rata
shareholdings in the Company (the "Related Party Transaction"). All of the
independent directors of the Company, acting in good faith, have determined that
the fair market value of the securities being issued and the consideration paid
is reasonable and, with the value of the Related Party Transaction being less
than 25% of the Company's market capitalization, is exempt from the formal
valuation and minority shareholder approval requirements of the Ontario
Securities Commission's Rule 61-501.


On behalf of the Board of Directors

Joe DeVries, Director 

The securities referred to in this news release have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements.


This news release does not constitute an offer for sale of securities for sale,
nor a solicitation for offers to buy any securities. Any public offering of
securities in the United States must be made by means of a prospectus containing
detailed information about the company and management, as well as financial
statements.

Altima Resources (TSXV:ARH)
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