Vancouver, BC – August 2, 2011: Altair Ventures Incorporated (“Altair”) (TSX-V: AVX) is pleased to announce that it has commenced the summer exploration program at its Prospect Valley Gold Property (“PV Property”), located within the Spences Bridge Gold Belt in southern British Columbia. Altair has an option to earn up to a 90% interest in the project.
The 2011 summer program will focus on the evaluation of several exploration targets outside the North and South Discovery Zones (see map on the Company’s website at www.altairventuresinc.com). Detailed mapping and prospecting in the area of the recent Northeast Extension Zone drilling will be conducted in order to better understand the geological and structural setting of gold mineralization identified in outcrop in 2010. Field work will further explore the Northeast Trend Zone, beyond the Northeast Extension, for epithermal gold mineralization.
In addition, gold-in-soil anomalies outside of the drilled areas will be followed up in search of parallel and/or cross cutting mineralized structures. Several targets will be investigated in the northern part of the property where little exploration has been conducted since the 2001-2004 programs. One such target will be in the vicinity of an isolated rock sample of float material assaying 14.7 g/t Au and 101.0 g/t Ag that is situated in an area of gold-in-stream anomalies. It is believed that this may indicate the presence of another gold bearing epithermal zone.
The Prospect Valley Gold Property comprises 10,796 hectares (108 sq km) and covers extensive, structurally controlled epithermal gold mineralization with the potential to host bulk tonnage and/or high grade vein deposits. It is roadaccessible, approximately 3 hours driving time from Vancouver, and situated in proximity to good infrastructure and local resources near Merritt, BC.
The Qualified Person for the Prospect Valley Project is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair Ventures Inc.
For further information please contact Justin Schroenn at (604) 780-1371, fax at (604) 688-8309 or e-mail [email protected]
ON BEHALF OF THE BOARD
Fayyaz Alimohamed, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.