Altima Update Regarding Final Tranche Closing of Convertible Debenture Financing

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Altima Resources Ltd. (the "Company") (TSX VENTURE:ARH)(FRANKFURT:AKC) announces
that it is unable to close the second tranche of its convertible debenture
private placement financing in 2012 (refer to Press Release August 29, 2012 for
particulars of first tranche closing). The Company plans to close the final
tranche by January 30, 2013, subject to acceptance to pricing by the TSX Venture
Exchange. A further press release will be disseminated at that time. 


ON BEHALF OF THE BOARD

Joe DeVries, Director

The securities referred to in this news release have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from the U.S. registration requirements.


This news release does not constitute an offer for sale of securities for sale,
nor a solicitation for offers to buy any securities. Any public offering of
securities in the United States must be made by means of a prospectus containing
detailed information about the company and management, as well as financial
statements.


This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the completion of
a private placement of convertible debentures to raise up to $15,000,000 and
other future plans, objectives or expectations of the Company are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks relating to:
availability of capital and financing required to complete subsequent tranches
of the proposed private placement and to continue the Company's exploration and
development plans; general economic, market or business conditions; and other
risks detailed herein and from time to time in the filings made by the Company
with securities regulators. The Company expressly 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 otherwise
required by applicable securities legislation. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Altima Resources Ltd.
Joe DeVries
Director
(604) 336-8610
www.altimaresources.com

Altima Resources (TSXV:ARH)
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