Altius Provides 1st Quarter 2023 Project Generation Update
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
April 11, 2023 | St. John’s, Newfoundland
Altius Provides 1st Quarter 2023 Project Generation Update
Altius Minerals Corporation ( ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation ”) is pleased to
update its Project Generation (“PG”) business activities and its public junior equities portfolio.
The market value of equities in the portfolio at March 31, 2023 was $51.8 million, compared to $50.3 million
at December 31, 202 2. Net investments for the quarter totaled $1.0 million, while cash proceeds of $2.8
million were received subsequent to quarter-end in relation to a distribution made to shareholders of Alderon
Iron Ore Corp. as part of a receivership based liquidation of assets.
An updated list of the public equity holdings has been posted to the Altius website at
http://altiusminerals.com/projects/junior-equities.
Portfolio Updates
Altius estimates approximately 270,000 metres of exploration and resource delineation drilling will take
place during 2023 across various projects in which Altius has royalty and/or equity exposure. Recently
reported updates from portfolio companies included the following:
Orogen Royalties Inc. (OGN:TSV -V) (“Orogen”) During the quarter Orogen provided a comprehensive
review and highlights of its project generation business performance in 2022 in Mexico, United States, and
Canada and subsequent to quarter end it released its 2022 fiscal year end results highlighting positive cash
flow generation from its royalty and prospect generation activities – NEWS.
Altius and Orogen entered into an exploration alliance in Nevada in 2022, which has resulted in several
new gold projects being generated in the Walker Lane district. These were selected on the basis of similar
geologic attributes to those of the recent Silicon discovery, over which Altius and Orogen hold separate net
smelter return (“NSR”) royalties of 1.5% and 1.0%, respectively. Altius also owns 16.5% of the common
shares of Orogen as well as additional share purchase warrants.
Silver Range Resources Ltd. (SNG:TSX-V) (“Silver Range” ) and Altius recently signed a n exploration
alliance agreement that will allow Altius to acquire a 1% NSR royalty interest on three Silver Range projects
staked within a specified area of interest in the southwest United States. In conjunction with the agreement
Altius subscribed for 3,333,333 shares of Silver Range at a cost of $500,000 – NEWS.
AbraSilver Resource Corp. (ABRA:TSX-V) (“Abra”) continues to release favourable drill results from its
flagship Diabillos precious metals project in Argentina including expansion of its phase III drill program by
22,000 metres. Altius is an equity shareholder in Abra, and holds an option on a 1.1% NSR royalty on the
La Coipita porphyry project in San Juan, Argentina, where drilling is currently underway.
Lara Exploration Ltd. (LRA:TSX-V) recently announced a 2-year exploration program for its Planalto
copper project in Brazil, including up to 32,000 metres of exploration and infill drilling on the Property.
Gungnir Resources Inc. (GUG: TSX -V) (“Gungnir") announced encouraging drilling results from its
Lappvattnet nickel project in northern Sweden with follow-up plans to test deeper targets in the coming
months. In addition to an equity shareholding in Gungnir, Altius retains various gross sales royalty (“GSR”)
purchase options on Lappvattnet and other Gungnir projects in Sweden.
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
Callinex Mines Inc. (CNX:TSX) recently reported its 2023 exploration plans at the Pine Bay Project which
includes further drill testing of the high-grade Rainbow zone, the newly discovered Alchemist zone, and the
historic Pine Bay deposits. Altius retains a buyback right to a 0.5% NSR royalty over the project area as
well as an equity shareholding that was acquired through a private placement in 2022.
Surge Copper Corp. (SURG:TSX -V) continued to advance its Ootsa Cu-Au porphyry project in British
Columbia throughout 2022 including recently reported drilling results that intersected prospective
mineralized intervals from Seel Breccia East and Bergette targets – NEWS. Altius owns an equity
shareholding in Surge.
Archer Exploration (RCHR:TSX-V) announced completion of its acquisition of the Grasset nickel project
in Quebec and outlined its 2023 exploration plans. Archer also closed a concurrent $10.2 million private
placement financing on November 18, 2022 through which Altius acquired an equity shareholding .
High Tide Resources (HRTC:TSX -V) High Tide Resources announced a maiden mineral resource
estimate for the Labrador West Iron Project that it acquired from Altius in exchange for a 2.75% GSR and
an equity shareholding.
Sterling Metals (SAG:TSX-V), focused in Newfoundland at the Sailpond Project, recently announced an
option agreement to acquire 100 % of the Adeline copper -silver project in Labrador from a third party –
NEWS. Sterling has arranged a $5 million private placement financing to fund advancement of bo th
projects. Altius holds 2% NSR royalties on both projects in addition to an equity shareholding in Sterling.
Churchill Resources (CRI:TSX -V) has announced 2023 drill plans at the Taylor Brook and Florence
Lake nickel-copper projects where Altius holds 1.6% GSR royalties on each project as well as a substantial
equity stake.
Labrador Uranium Inc. (LUR:TSX -V) in February 2023 announced that it continues to refine its target
generation in the Central Mineral Belt where Altius holds a 2% GOR royalty and a substantial equity stake,
including the recent completion of a $12.6 million financing..
TRU Precious Metals Corp. (TRU:TSX-V) (“TRU”) announced upcoming exploration plans for the Golden
Rose Project where Altius holds a 2% NSR royalty as well as a substantial shareholding .
Sokoman Minerals Corp. (TSXV:SIC) (“Sokoman”) reported significant gold mineralization intersected on
its Moosehead Project in the main Eastern Trend where drillhole MH-22-505 cut 21.35 m averaging 9.75
g/t Au, including 7.75 m averaging 21.82 g/t Au from 199.05 m downhole. Altius holds a 2% NSR royalty
covering the Moosehead Gold project.
Qualified Person
Lawrence Winter, Ph.D., P.Geo., Vice President, Exploration for Altius, a Qualified Person as defined by
National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific
and technical data presented herein and has reviewed, prepared and approved this release.
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 sustain ability-related global growth trends including 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 succes sful Project
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
Generation business that originates mineral projects for sale to developers in exchange for equity positions
and royalties. Altius has 47,634,571 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:
Chad Wells
Email: [email protected]
Tel: 1.877.576.2209
Flora Wood
Email: [email protected]
Tel: 1.877.576.2209
Direct: 1.416.346.9020