Altair Closes First Tranche of Private Placement

Altair Resources

Vancouver, BC – April 30, 2014: Altair Gold Incorporated (“Altair” or the “Company”) (TSX-V: AVX) is pleased to announce that, effective on April 30, 2014, it closed the first tranche (the “First Tranche Closing”) of the private placement first announced on April 17, 2014 (the “Private Placement”).

The Private Placement consists of the sale of up to 9,000,000 units (the “Units”) at $0.05 per Unit for gross proceeds of up to $450,000. The First Tranche Closing consisted of the sale of 4,000,000 Units resulting in gross proceeds to the Company of $200,000. The TSX Venture Exchange (the “Exchange”) has conditionally approved the First Tranche Closing, subject to the filing of final documents.

Each Unit consists of one common share (each a “Share”) and one non-transferable common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share for $0.10 per Share. All of the Warrants are exercisable for a period of five years from the closing date of the First Tranche Closing, subject to the right of the Company to accelerate the expiry of the Warrants, if, during the term of the Warrants, the common shares of the Company close at a price at or above $0.20 per share for more than 20 consecutive trading days.In connection with the First Tranche Closing, the Company issued 400,000 finder’s fee shares and 400,000 finder’s fee warrants (the “Finder’s Fee Warrants”). Each Finder’s Fee Warrant is exercisable to purchase one Share at a price of $0.10 per Share for a period of five years from the closing date of the First Tranche Closing.

All securities issued in connection with the First Tranche Closing are subject to a four month hold period expiring on August 31, 2014.

The net proceeds of the First Tranche Closing will be used by Altair to pay the option payment due to Sultan Minerals under the Kena Option Agreement.

For further information please contact Fayyaz Alimohamed at 604 641 1305, or e-mail info@altairgold.com.

Altair Gold Incorporated

“Fayyaz Alimohamed”

Fayyaz Alimohamed, President & CEO

 

Forward-Looking Statement Caution

This news release contains certain “forward-looking statements”, within the meaning of Canadian securities legislation, relating to the Private Placement and the use of proceeds. Although Altair believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of Altair’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Altair disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law and stock exchange policies. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: Altair’s inability to secure subscriptions from subscribers to complete the Private Placement in whole, a management decision to change the use of proceeds based on changing circumstances and Altair’s inability to obtain the Exchange approval required to complete the Private Placement. Altair might encounter problems such as the significant depreciation of metals prices, accidents and other risks associated with mining exploration, the risk that Altair will encounter unanticipated geological factors, the possibility that Altair may not be able to secure permitting and other governmental clearances necessary to carry out Altair’s exploration plans, and the other risk factors discussed in greater detail in Altair’s various filings on SEDAR (www.sedar.com) with Canadian securities regulators.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO US NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. THE SECURITIES TO BE ISSUED UNDER THE PRIVATE PLACEMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (AS AMENDED) OR ANY STATE SECURITIES LAWS, AND UNLESS SO REGISTERED MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.