Alta Copper announces non-brokered financing with Fortescue Metals

Alta Copper has arranged a non-brokered private placement with Nascent Exploration Pty. Ltd., a wholly owned subsidiary of Fortescue to raise gross proceeds of Cdn.$2,500,000. The Company intends to use the proceeds of the Private Placement for working capital while continuing to advance its 100% owned Canariaco copper project. The Private Placement will consist of the sale of 4,629,630 common shares at a price of Cdn$0.54 to raise gross proceeds of approximately Cdn.$2,500,000. The Common Shares will be subject to a mandatory hold period ending four months and one day after issuance, in accordance with applicable securities law. There will be no warrants included in this Private Placement.