Altius Provides 2023 Year-End Project Generation Update

Altius Provides 2023 Year-End Project Generation Update

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--January 8, 2024--Altius

Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) (“Altius”) is pleased to provide an

update on its Project Generation (“PG”) business activities and its public junior equities

portfolio. The market value of the junior equities portfolio at December 31, 2023 was $45.1

million, as compared to $44.6 million at September 30, 2023.

During the year, new cash-based investments amounted to $1.6 million and the market value

(year-end basis) of shares received as part of property sales agreements totaled $2.8 million.

Proceeds from sales of public equities from the portfolio totaled $1.2 million. An updated list of

the public equity holdings has been posted to the Altius website at

http://altiusminerals.com/projects/junior-equities.

In 2023, greater than 300,000 metres of exploration and delineation drilling, with an estimated

cost to the operators of more than $60 million, was completed across projects in which Altius has

royalty and/or equity exposure.

Project Generation Portfolio 2023 Select Highlights

Altius holds 29,315,015 common shares of Orogen Royalties (TSX-V:OGN) representing an

approximate 16.5% equity stake and a further 7.1 million common share purchase warrants.

Orogen continued to execute on its business model of project generation-based royalty creation

with noteworthy highlights including nearly $5 million in 2023 royalty revenue from its

Ermitaño royalty in Mexico and the significant advancement of AngloGold Ashanti’s Expanded

Silicon project in Nevada (Orogen's 1% NSR royalty in addition to Altius' directly held 1.5%

NSR royalty). Altius and Orogen also continued its strategic alliance in Nevada generating

several new projects that bear geologic similarities to the Silicon discovery.

Adventus Mining Corp. (TSX-V:ADZN), of which Altius is a significant shareholder, closed

the year with announcement of completion of its environmental consultation process for the

proposed development of its El Domo-Curipamba project in Ecuador. This result now clears the

way for the expected issuance of the environmental licence for the project. The Company also

announced plans of a proposed merger with Luminex Resources Corp. (“Luminex”) (TSXV:

LR) and a related US$18 million financing. In addition to its substantial equity holding

(16,467,738 common shares) in Adventus, Altius holds a $4 million convertible debenture

royalty loan with the Company, and a current 2% NSR royalty over the Curipamba project.

Wolfden Resources Corp. (TSX-V:WLF) (“Wolfden”) continues to progress its high-grade

polymetallic copper-lead-zinc-gold-silver Pickett Mountain project in northern Maine focusing

upon community engagement activities related to filing of a rezoning application with the State

to allow for the development of a new underground mining operation. As part of the application

process the Company announced that the Maine Land Use Planning Commission (LUPC) held

public hearings in October to receive public comment. A final decision by the LUPC with

respect to the application is expected early in 2024. Altius currently holds 19,706,000 common

shares of Wolfden and a 1.35% GSR royalty covering the Pickett Mountain project.

Latitude Uranium Inc. (TSX-V:LUR) (“Latitude”) made a notable acquisition of the Angilak

uranium property in Nunavut from Valore Metals Corp. mid-year adding to its uranium property

holdings in Labrador. On December 7th Latitude announced it had entered into a definitive

arrangement agreement to be acquired by Atha Energy Corp. (CSE:SASK), a Canadian

focused uranium exploration company. Altius holds 8 million shares of Latitude and a 2% gross

overriding royalty covering several of its Labrador CMB properties.

AbraSilver Resource Corp. (TSX.V:ABRA), of which Altius is an equity shareholder,

continued to advance its silver-gold Diablillos project in Salta province, Argentina and

announced a substantial increase to the mineral resource estimate of the project. Subsequent to

year end Abra also announced it entered into a binding letter agreement with a subsidiary of

Teck Resources Ltd. regarding a proposed option and joint venture agreement to explore and

develop the La Coipita copper-gold project in San Juan, Argentina. Altius holds an option to

acquire a 1.1% NSR royalty covering the La Coipita project for US $3M.

Churchill Resources (TSX-V: CRI) (“Churchill”) continued to advance both its Taylor Brook

and Florence Lake nickel projects during the year, including fulfillment of its Florence Lake

Option Agreement with Altius by issuing an additional 5,041,689 common shares, bringing

Altius's total shareholding to 17,838,815 common shares in Churchill. Churchill completed a

$2.6 million financing in the final quarter of the year and commenced a 5000-meter drilling

campaign at Taylor Brook. In addition to its shareholding in Churchill, Altius also holds a 1.6%

gross sales royalty on each of the Taylor Brook and Florence Lake nickel projects.

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 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 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 47,080,737 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.

Contacts

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