Vancouver, British Columbia--(Newsfile Corp. - November 23, 2022) - Altima Resources Ltd. (TSXV: ARH) ("Altima" or the "Company") is pleased to announce that on October 12, 2022, the B.C. Securities Commission issued orders revoking the cease trade orders issued against the Company in connection with delays in filing its annual financial statements, management discussion and analysis and related officer certificates for the financial year end February 28, 2022 (the "Audited Financial Statements").

As part of the process of seeking revocation of the cease trade orders, the Company has filed its Audited Financial Statements, together with all the required late filing and penalty fees, and has made application to the TSX Venture Exchange for reinstatement for trading.

ON BEHALF OF THE BOARD

SIGNED: "Joe DeVries"

Joe DeVries, CEO
Contact: (604) 336-8610

Cautionary Note Regarding Forward-Looking Information

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "intend", "could", "might", "should", "believe" and similar expressions. In particular, this news release contains forward-looking statements in respect of among other things, the filing of the Issuer Statements and the timing thereof. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, risk factors set forth in the Company's most recent management's discussion and analysis of which is filed on SEDAR at , and readers are cautioned that the risk factors disclosed therein should not be construed as exhaustive. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

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