Altius Completes Sale of 2/3 of its Silicon Gold 1.5% NSR to Franco-Nevada Altius Retains 0.5% NSR interest as Long-Term Portfolio Component
Altius Minerals Corporation
TSX: ALS | OTCQX: ATUSF
July 23, 2025 | St. John’s, Newfoundland
Altius Completes Sale of 2/3 of its Silicon Gold 1.5% NSR to
Franco-Nevada
Altius Retains 0.5% NSR interest as Long-Term Portfolio Component
Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) Altius Minerals Corporation (“Altius”) is
pleased to announce that Altius Royalty Corporation (“ARC”), a wholly -owned subsidiary of Altius, has
completed the sale of a 1% NSR royalty covering the Silicon and Merlin gold deposit discoveries in
Nevada (“1% NSR Silicon Royalty” ) to a wholly owned subsidiary of Franco -Nevada Corporation
(“Franco-Nevada”) (TSX & NYSE: FNV) ( “The Transaction”), pursuant to a royalty purchase
agreement entered into by ARC and Franco -Nevada (the “Agreement”). ARC will continue to hold a
remaining 0.5% NSR royalty interest in Silicon (recently renamed to the Arthur Gold Project by AngloGold
Ashanti plc (“AGA”) as a long-term component of its diversified portfolio.
The purchase price for the 1% NSR Silicon Royalty interest is US$ 275 million (~ C$ 375 million)
comprised of US$ 250 million in upfront cash paid at closing and a further payment of US $25 million in
cash payable upon the conclusion of an ongoing arbitration process that confirms the area subject to the
royalty under final award to be consistent with Altius’s interpretation of the partial award of the arbitration
tribunal that was issued and reported on earlier this year.
The Board of Directors of Altius has received a fairness opinion from Cormark Securities Inc. which
opinion concluded that, based upon and subject to the assumptions made, procedures followed, matters
considered, limitations and qualifications set out therein, the consideration to be received by ARC
pursuant to the Transaction is fair, from a financial point of view, to ARC.
Brian Dalton, CEO of Altius commented, “We are pleased to partner with Franco -Nevada on this royalty,
which encompasses AGA’s world-class Silicon and Merlin gold deposit discoveries in Nevada, as well as
extensive areas of prospective surrounding land. The Transaction crystallizes significant value for
shareholders while further demonstrating the ability of Altius’s Project Generation business to amplify the
return profile of its overall royalty investment portfolio. The decision to retain a third of our Silicon royalty
interest also provides continuing growth exposure to this emerging gold district, while confirming the
addition of precious metals as a long -term, well -balanced component of our shareholder’s diversified
royalty portfolio. We now look forward to the ability to explore a wider set of capital allocation and
deployment opportunities, facilitated by a considerably strengthened balance sheet and liquidity profile,
and to further growing shareholder value.”
Anticipated Benefits to Altius Shareholders
Capital Allocation Opportunities
-Cash, after taxes and fees, expected to increase to more than C$ 360 million (assumes up front and
further payment proceeds from this Transaction and also from the recent acquisition of Orogen Royalties
Inc. by Triple Flag Precious Metals Corp.)
-Total liquidity increased to more than C$ 540 million (including C$ 116 million available under a revolving
credit facility and C$ 62.5 million potentially available under an accordion feature)
-Creates enhanced flexibility to evaluate external M&A opportunities while limiting equity level dilution of
existing assets and the embedded growth potential of our portfolio
-Improves ability to opportunistically increase per share exposure to existing royalty interests through
share repurchases
Retained Royalty Exposure
-Continuing optionality exposure to gold resource growth 1 from current ~16 Moz resource estimate at the
Arthur Gold Project, as AGA continues aggressive exploration and delineation drilling programs and the
reporting of encouraging results
-Achieves rebalance of commodity exposures while confirming precious metals and another tier -1 quality
royalty as components of Altius’s long-term, diversified portfolio.
For further information, please see the updated Altius corporate presentation posted to the website at
https://www.altiusminerals.com/investor-information/webcasts-and-presentations/
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
Financial and Legal Advisors
Cormark Securities Inc. is acting as financial advisor to Altius . Stikeman Elliott LLP is acting as legal
counsel to Altius and ARC.
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 global growth trends including increasing electricity based market share within energy usage,
global infrastructure build and refurbishment growth, increased EAF based steelmaking, steadily
increasing agricultural fertilizer requirements and the enhanced appetite for financial asset diversification
through precious metals ownership. These macro-trends each hold the potential to cause higher demand
for many of Altius’s commodity exposures including potash, high purity iron ore, renewable energy, base
metals, and gold . In addition, Altius runs a successful Project Generation business that originates mineral
projects for sale to developers in exchange for royalties and that has a demonstrated track record of
driving outsized direct returns from its overall royalty investment portfolio. Altius has 46,315,304 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 and the S&P/TSX Canadian Dividend
Aristocrats Index.
For further information, please contact:
Flora Wood
Email:[email protected]
Tel: 1.877.576.2209
Direct: 1.416.346.9020
1 See Expanded Silicon Project Update presentation https://www.altiusminerals.com/_resources/presentations/ESP%20April%2022-
2025_final.pdf
Forward Looking Information
This news release contains forward -looking information. The statements are based on reasonable
assumptions and expectations of management and Altius provides no assurance that actual events will
meet management's expectations. The information in this news release about the any anticipated benefits
of the transaction to Altius Shareholders, timing and results of the ongoing arbitration process in respect
of the Silicon royalty and possibility of ARC being paid contingent consideration of US$25 million following
conclusion thereof, and any other information herein that is not a historical fact may be forward looking
information. In certain cases, forward -looking information may be identified by such terms as
"anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius
believes the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected. Readers should not place undue reliance on
forward-looking information. Altius does not undertake to update any forward -looking information
contained herein except in accordance with securities regulations.