January 31, 2012 Alturas Minerals Corp. provided a disposition update for CCACCAPAQUI, located in Peru.
August 13, 2009 Alturas Minerals entered into a letter of intent agreement with Compañia de Minas Buenaventura S.A.A. regarding its Ccaccapaqui 1 property in southern Peru. Under the terms of the letter of intent (LOI) agreement, Buenaventura can earn an initial 51% interest in the project by spending a total of US$ 4.0 million on exploration and maintenance, and by making staged yearly cash payments to Alturas totaling US$ 1.65 million, within 4 years of the date of signature of the framework agreement to be executed. Buenaventura would be obligated to spend a minimum of US$800,000 on exploration and maintenance within the first year.
