Vancouver, BC – March 26, 2008, Altair Ventures Incorporated (“Altair”) (TSX-V: AVX). Altair is pleased to announce that, further to its news releases of January 23, 2008 and March 7, 2008, Altair has closed its non-brokered private placement consisting of 6,165,000 Units at a price of $0.20 per Unit for gross proceeds of $1,233,000. The private placement was originally set to consist of 5,000,000 Units. However, the private placement was over-subscribed by 1,165,000 Units.
Each Unit sold in the private placement consisted of one common share and one-half of a transferable common share purchase warrant. Each full warrant entitles the subscriber to purchase one additional common share of Altair at a price of $0.30 for a period of one year following the closing.
The proceeds of the financing will be used for an exploration program at Altair’s CJ Property in Alaska, to explore further opportunities for the acquisition and development of additional properties, and for general working capital purposes.
Altair paid finder’s fees aggregating $82,810.00 to two registered dealers in connection with the private placement.
For further information please contact Kareen McKinnon at (604) 764-2385, fax at (604) 688.8309 or e-mail [email protected].
ON BEHALF OF THE BOARD
(signed ) “Fayyaz Alimohamed”
Fayyaz Alimohamed, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.