Altan Nevada Grants Options

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 February 3rd, 2012 – Vancouver, British Columbia – The Board of Directors of Altan Nevada Minerals Limited, TSX.V: ANE (“Altan Nevada” or “the Company”) has authorized the Company to grant 1,837,100 stock options (“Options”) to certain directors, officers and consultants of the Company. The Options will: (i) vest over an 18 month period for directors with 33.3% vesting every 6 months and over a 12 month period for officers and consultants with 25% vesting every 3 months; (ii) be exercisable to acquire one common share of Altan Nevada at CA$0.40 per share; and (iii) expire February 1st, 2017.

Options are granted subject to the terms and conditions of the Company’s Stock Option Plan (filed on SEDAR) and are subject to TSX.V approval. Options are administered by the Board of Directors who may authorize the Company to make allocations to eligible persons after considering their present and future potential contributions and value to the Company.

About Altan Nevada

Altan Nevada is an exploration company focused on the discovery of large-scale ore systems in under-explored districts of Nevada, USA. The Company is currently exploring holdings in Nevada totaling more than 13,710 hectares. Projects include potential district-scale extensions to the north Carlin Gold Trend and three Yerington District copper-gold targets.

On behalf of The Board of Directors of Altan Nevada Minerals Limited,

“Evan Jones”

Evan Jones,

President & CEO

For more information please contact:

Kelly Earle

Corporate Communications Manager

Tel: +1 604 495 8374

Email: [email protected]

Web: www.altnev.com

This press release may contain forward looking statements including those describing Altan Nevada’s future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Nevada and its management.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.