Altius Provides 1st Quarter 2025 Project Generation Update Highlights Progress of its Julienne Lake Iron Ore Project
TSX: ALS | OTCQX: ATUSF Altius M inerals Corporation
April 9, 2025 | St. John’s, Newfoundland
Altius Provides 1st Quarter 2025 Project Generation Update
Highlights Progress of its Julienne Lake Iron Ore Project
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, 2025 was $71.4 million, compared to $60.4 million
at December 31, 2024. In addition, net cash proceeds of $527,000 were generated from portfolio sales.
Overall performance of the portfolio was largely driven by its holding of 39,557,961 common shares or an
approximate 19.6% interest in Orogen Royalties Inc. (TSX -V:OGN) (“Orogen”). Orogen most recently
announced its preliminary 2024 financial results highlighting a record year in financial performance with
strong revenue of $7.9 million from the Ermitaño royalty. Orogen also recently reported the declaration of
an initial resource estimate by the project operator for the newly discovered Navidad Vein at the Ermitaño
Mine.
However, the most noteworthy development reported by Orogen was AngloGold Ashanti NA’s February
19, 2025 announcement of its updated Inferred Resource of 12.1 million ounces (M oz) gold at the Merlin
deposit. The updated resource at Merlin represents a 34% increase over the previous 9.05 M oz resource
and is in addition to the 3.4 M oz Indicated and 0.8 Moz Inferred gold resource at the adjacent Silicon
deposit. Orogen holds a 1% NSR royalty (Altius also directly holds a 1.5% NSR royalty) on the Expanded
Silicon gold project located in Nevada, USA.
An updated list of the public equity holdings in the portfolio has been posted to the Altius website at
https://altiusminerals.com/project-generation/junior-equities-portfolio/.
Julienne Lake Iron Ore Project
Altius has formally advanced to the detailed proposal phase in the Julienne Lake E xempt Mineral Land
(“EML”) process being undertaken by the Province of Newfoundland and Labrador (the “Province”). The
Province issued an Expression of Interest call for proposals regarding the potential development of the
Julienne Lake iron ore deposit in western Labrador in July of 2024. The Julienne Lake deposit is a large,
undeveloped iron ore deposit located approximately 25 kilometres from the town of Labrador City that has
been held within an EML designation since 1976 . The Province reports that the Julienne Lake deposit
within the EML hosts a National Instrument 43 -101 (NI 43 -101) compliant Measured and Indicated
Resource of 867 million tonnes at 33.7 % iron, plus an Inferred Resource of 299 million tonnes at 34.1 %
iron.
Altius holds a 100% interest in 65 mineral claims that are contiguous to the Julienne Lake EML. In 2012,
Altius’s drilling confirmed the continuity of this iron ore deposit onto its claims. Moreover, Altius has recently
commenced preliminary metallurgical test work on its drill core samples in order to test the ability of the
deposit to yield direct reduction (DR) grade iron concentrate and expects the results early in Q2. Altius has
indicated to the Province that it plans to submit a detail ed proposal that will capture the benefits of a
consolidated project, the mandate of which will be to optimize the full potential of any mineral resources
delineated within the EML and the Altius claims.
TSX: ALS | OTCQX: ATUSF Altius M inerals Corporation
Altius is also currently evaluating potential PG exploration alliances and/or investment opportunities that
support royalty creation in multiple current and new jurisdictions.
Qualified Person
Lawrence Winter, Ph.D., P.Geo., Vice President, Generative and Technical 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 sustainability -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 co pper, 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 4 6,301,246 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