Altair Completes Acquisition Of Epic Mining Corp.

Altair Resources

VANCOUVER, BRITISH COLUMBIA – DECEMBER 5th , 2016:  ALTAIR RESOURCES INC. (“Altair” or the “Company”) (TSXV: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. John Huguet, Chairman of the Board, is pleased to announce that further to the Company’s press release dated September 13, 2016, the Company has received the acceptance of the TSX Venture Exchange and has completed its acquisition of 100% of Epic Mining Corp. (“Privco”), which in turn owns 100% of Panamericana SAC, being the owner of the Lejin property, a resource property in Peru covering approximately 900 hectares. (the “Property”).  In consideration for the acquisition of Privco and in accordance with the acquisition terms, the Company has made an initial payment of $25,000 in cash of the cash portion of the purchase price and issued 500,000 common shares (the “Shares”) in the capital of the Company to the arm’s-length vendor.  In addition the Company reimbursed the vendor for certain expenses in the amount of US$9,300. The Company will pay the balance of $25,000 of the cash portion of the purchase price to the vendor on the date that is 30 days from the closing of the acquisition. In addition to the statutory resale restrictions on the Shares expiring on March 31, 2017, 300,000 of the Shares are subject to voluntary resale restrictions as follows: 100,000 are restricted from trading for six months; 100,000 are restricted from trading for nine months and 100,000 are restricted from trading for twelve months.  The Company also paid a finder’s fee of 54,905 common shares to an arm’s length party to the Company.   

Further details on the acquisition terms and the Property can be found in the Company’s news release dated September 13, 2016.