Altair Completes Acquisition Of Virium Lithium Property

Altair Resources

VANCOUVER, BRITISH COLUMBIA – DECEMBER 01, 2016: ALTAIR RESOURCES INC. (“Altair” or the “Company”) (TSX-V: 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 October 17, 2016, the Company has received the acceptance of the TSX Venture Exchange and has completed its acquisition of 100% of the shares of 1077086 B.C. Ltd. (“Privco”), a private company, the sole asset of which is the 1,360 hectares (13.6 sq. kms) Virium Lithium Property located in the Abitibi area of the province of Quebec. In consideration for the acquisition of Privco and in accordance with the acquisition terms, the Company has made the initial payment of $10,000 in cash of the cash portion of the purchase price and issued 1,400,000 common shares in the capital of the Company to the arm’s length vendor. The Company will pay the balance of $10,000 of the cash portion of the purchase price on the date that is 30 days from the closing of the acquisition. The Company also paid a finder’s fee of 151,000 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 October 17, 2016.