Altima Negotiates Equity Financing for Up to $1,500,000

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 negotiated a private placement for gross
proceeds of up to $1,500,000, subject to acceptance by the TSX Venture Exchange.
These funds will be raised by the Company: 




a.  issuing up to 20,000,000 Units at a price of $0.05 per Unit (the "NFT
    Units") for gross proceeds of up to $1,000,000 (the "NFT Financing"),
    each NFT Unit consisting of one common share and one share purchase
    warrant, each warrant entitling the holder thereof to purchase one
    additional common share, exercisable for a period of one (1) year from
    the date of issuance at a price of $0.10 per share; and 

b.  issuing up to 1,000,000 Flow-Through Units (the "FT Units") at a price
    of $0.05 per FT Unit for gross proceeds of up to $500,000 (the "FT
    Financing"), each FT Unit consisting of one flow-through common share
    and one share purchase warrant, each warrant entitling the holder
    thereof to purchase one additional non flow-through common share,
    exercisable for a period of one (1) year from the date of issuance at a
    price of $0.10 per share. 



Proceeds of up to $500,000 from the FT Financing will be used for exploration
and development of the Company's Chambers-Ferrier area properties, which lie
immediately west of the multiple-zone producing pools in the Ferrier Field,
Alberta. The exploration work conducted will qualify as a Canadian Exploration
Expense for the purposes of the Income Tax Act (Canada), which will then be
renounced by the Company to the placees.


Proceeds of up to $1,000,000 from the NFT Financing will also be used for
exploration and development of the Company's Chambers-Ferrier area properties,
as well as for general working capital.


The Company may pay finders' fees in connection with the private placement in
accordance with TSX Venture Exchange policies.


ON BEHALF OF THE BOARD

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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