Altius Announces Filing of Preliminary Prospectus for Altius Renewable Royalties Corp.

TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation

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January 19, 2021 | St. John’s, Newfoundland

Altius Announces Filing of Preliminary Prospectus for Altius Renewable

Royalties Corp.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE

UNITED STATES.

Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “ Corporation”) is

pleased to announce that its subsidiary Altius Renewable Royalties Corp. (“ ARR”) has filed and

obtained a receipt for a preliminary base PREP prospectus with the securities regulatory

authorities in each of the provinces and territories of Canada for an initial public offering of

Common Shares (the " IPO"), led by TD Securities Inc. and Scotia Capital Inc. , together with a

syndicate comprised of Raymond James Ltd., Cormark Securities Inc., Canaccord Genuity Corp.,

Laurentian Bank Securities Inc., National Bank Financial and Haywood Securities Inc .

(collectively, the " Underwriters"). The proceeds from the IPO will be used by ARR to fund

additional renewable energy royalty focused investments and for general corporate purposes as

described in the preliminary base PREP prospectus. The IPO is expected to close in February

2021.

The p reliminary base PREP prospectus contains important information relating to the

Common Shares and ARR and is still subject to completion or amendment. Copies of the

preliminary base PREP prospectus are available on SEDAR at www.sedar.com or from the

Underwriters. There will not be any sale or any acceptance of an offer to buy the Common

Shares until a receipt for the final prospectus has been issued.

This news release does not constitute an offer of securities for sale in the United States

and the securities referred to in this news release may not be offered or sold in the United

States absent registration or an exemption from registration.

Altius and ARR

Altius established ARR to provide royalty based financing to renewable power developers ,

originators and operating projects . ARR has financing relationships with certain top -tier

developers providing it with exposure to a robust development pipeline of U.S. -based wind and

solar projects. These development stage investments made by the ARR are not restricted to any

specific project but rather fund a developer’s project portfolio, including projects that are added to

the portfolio after the investment agreement with the ARR was entered into , positioning the

developer to be able to ultimately bring more projects to market . ARR will receive royalties as

these projects are sold on to end sponsors and operators.

ARR uses its industry expertise to provide partner-focused investment solutions and a long-term,

cost-effective source of capital for the rapidly growing renewable energy sector. In addition to

growing its base of developer focused investments, ARR is considering opportunities to innovate

royalty financing solutions for later staged project proponents.

TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation

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Brian Dalton, Chief Executive Officer of ARR and Altius Minerals Corp. stated, "This IPO follows

four years of exciting collaboration and innovation with New Hampshire, USA based Great Bay

Renewables LLC (“GBR”). GBR is the operating subsidiary of ARR and it was recently made the

subject of a joint venture that is expected to lead to certain funds managed by Apollo Global

Management, Inc. (“the Apollo Funds”) earning in to become a 50% shareholder. Following the

expected earn-in, each of ARR and the Apollo Funds will be entitled to equally co-fund additional

investment opportunities that are developed by the GBR management team - which consists of a

highly experienced group of renewable energy industry professionals led by Frank Getman and

including Ray Faust, Josh Levine and Bill Rodgers.”

He then added, “The purpose of the IPO is to enable ARR to more directly access capital in order

to fund its participation in new investments that are developed by GBR following completion of

the Apollo Funds’ earn-in. There is no secondary sale component contemplated as part of the

IPO. Post-closing, Altius Minerals expects to remain as the major shareholder of ARR and to

continue to participate in and benefit from its long-term growth potential.”

Management and Board

Pursuant to a services agreement with Altius Minerals entered into in connection with the IPO,

executive officers of Altius, Brian Dalton and Ben Lewis will also serve as CEO and CFO,

respectively, of ARR, while the Board of ARR is comprised of fiv e independent directors, two of

whom are Altius nominees and current independent members of the Altius board. The

management and Board members of ARR are as follows:

Brian Dalton – Chief Executive Officer

Brian Dalton co -founded Altius Minerals Corporation as a small junior exploration company in

1997 while still attending university and has served as its CEO and as a director since then, Altius

is now a leading global diversified royalty company with revenue from 14 producing mines and is

a member of the TSX/S&P Global Mining Index.

Ben Lewis – Chief Financial Officer

Ben Lewis joined Altius’ s executive team as CFO in 2006. Prior to joining Altius, Ben held roles

with increasing levels of responsibility with both private and public companies. His most recent

former position was that of Corporate Controller for NYSE and TSX -listed CHC Helicopter

Corporation. His responsibilities with Altius Minerals include overseeing its financial management

and reporting as well as contributing valu ation and structuring expertise. Ben graduated from

Memorial University of Newfoundland with a Bachelor of Commerce in 1991 and earned his

Chartered Accountant designation in 1993.

Earl Ludlow (Chair), O.N.L., B.Eng., MBA, P.Eng., F.C.A.E

Earl Ludlow’s career with the Fortis Group spanned nearly 40 years and included executive roles

at Fortis subsidiaries Maritime Electric, Newfoundland Power and Fortis Alberta and then CEO

roles at subsidiaries Fortis Properties and Newfoundland Power. He has served on the boards of

Canadian Electricity Association, Maritime Electric, Belize Electricity, Caribbean Utilities, Fortis

Ontario, Fortis Turks and Caicos and Newfoundland Power. Mr. Ludlow earned a Bachelor of

Engineering (Electrical) in 1980 and a n MBA from Memori al University, Newfoundland and

Labrador in 1994. He is also a professional engineer.

TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation

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David Bronicheski, MBA, CPA, CA

David Bronicheski is a Corporate Director and Chartered Professional Accountant. He recently

retired as Chief Financial Officer of Algonquin Power & Utilities Corp. (successor corporation to

Algonquin Power Income Fund), a position he served in from 2007 to 2020. During this time

Algonquin developed into one of Canada’s preeminent renewable energy focused power

producers and North American regulated utility service provider. Mr. Bronicheski holds a

Bachelor of Arts in economics (cum laude), a Bachelor of Commerce degree and an MBA

(University of Toronto, Rotman School of Management).

Judy Cotte, LL.B, LL.M.

Judy Cotte is the CEO of ESG Global Advisors and is recognized as a leading expert in ESG

related investment protocols and mandates . Judy is a former V.P. & Head of Corporate

Governance & Responsible Investment for RBC Global Asset Management and prior to that was

Director of Policy Development & Chief Operating Officer for the Canadian Coalition for Good

Governance. Judy has a law degree (University of Toronto) and a Masters degree in securities

law (Osgoode Hall, York University).

Anna El-Erian, BA.LLB

Anna El-Erian (née Stylianides) is a corporate lawyer with over 20 years of experience in the

global capital markets having spent much of her career in investment banking, private equity, and

corporate management and restructuring. Anna is a director nominee of Altius Minerals

Corporation. Anna graduated with a Bachelor of Arts and a post graduate degree in Bachelor of

Laws.

André Gaumond, B.Eng., M.Eng.

André Gaumond was President and CEO of Virginia Gold Mines from 1993 to 2006 when it was

acquired by Goldcorp Inc., and successor company Virginia Mines Inc. from 2006 to 2014 when

it was acquired by Osisko Gold Royalties Ltd. He has a deep understanding of the natural

resource development sector and of royalty structuring and financing. André is a director nominee

of Altius Minerals Corporation. Mr. Gaumond holds a Bachelor of Geological Engineering from

Université Laval and a Masters degree in Geological Engineering from Ecole Polytechnique.

Forward-Looking Information

This news release contains forward -looking information. Forward looking information contained

in this new release includes, but is not limited to, the intentions of ARR to complete the IPO, the

planned use of the proceeds of the IPO , the ability of ARR to acquire royalties, the growth of

developers’ project portfolios and their ability to originate more projects, ARR’s opportunities to

fund other stages of the renewable energy development lifecycle, expectations regarding funding

of the joint venture, and the expected closing date of the IPO . These statements are based on

information currently available to A RR and Altius provides no assurance that actual results will

meet management's expectations. In certain cases, forward-looking information may be identified

by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or

"would". Forward-looking information contained in this news release is based on certain factors

and assumptions regarding, among other things, the receipt of necessary regulatory approvals,

TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation

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the ability of Altius Renewable to complete the IPO, and other similar matters. While Altius

Renewable consid ers these assumptions to be reasonable based on information currently

available to it, they may prove to be incorrect.

Although Altius believes the expectations expressed in such forward -looking information are

based on reasonable assumptions, such stateme nts are not guarantees of future performance

and actual results or developments may differ materially from those in the forward -looking

information. Factors that could cause actual results to differ materially from those in forward -

looking statements include, among other things, changes in market conditions, changes in power

prices, changes in expectations for the growth in demand for renewable power in the U.S.,

unanticipated changes in key management personnel, general economic and political conditions,

the risk that A RR’s IPO may not be completed and the failure to receive applicable regulatory

approvals, as well as the other risk factors described in ARR’s preliminary base PREP prospectus

in respect of the IPO. Accordingly, actual events may differ materially from those projected in the

forward-looking information. This list is not exhaustive of the factors that may affect any of the

forward-looking information in this news release. These and other factors should be considered

carefully and readers should not place undue reliance on the forward -looking information in this

news release. Altius does not undertake to update any forward -looking information that may be

made from time to time by A RR or on its behalf, except in accordance with applicable securiti es

laws.

No securities regulatory authority has either approved or disapproved the contents of this press

release. These securities have not been and will not be registered under the United States

Securities Act of 1933, as amended, or any U.S. state secur ities law and may not be offered or

sold in the United States except in compliance with the registration requirements of the said Act

and applicable U.S. state securities laws or pursuant to an exemption therefrom.

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to

long life, high margin operations. This strategy further provides shareholders with exposures that are well

aligned with sustainability -related global growth trends inc luding the electricity generation transition from

fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing

agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for

many of Altius’s commodity exposures including copper, renewable based electricity, several key battery

metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project

Generation business that originates mineral projects for sale to developers in exchange for equity positions

and royalties. Altius has 41,477,653 common shares issued and outstanding that are listed on Canada’s

Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining

Indices.

For further information, please contact:

Ben Lewis

Email: [email protected]

Tel: 1.877.576.2209

Flora Wood

Email: [email protected]

Tel: 1.877.576.2209

Direct: +1(416)346.9020