Altima Resources Ltd. (ARSLF)

[righty]

Proceeds of up to $1,200,000 raised from
the Flow-Through private placement will be used for exploration and development of the
Company’s oil and gas properties located in Alberta, such that the exploration work will qualify
as Canadian Exploration Expense for the purposes of the Income Tax Act (Canada), which will
then be renounced by the Company to the placees.