Altius Provides 3rd Quarter 2025 Project Generation Update
TSX: ALS | OTCQX: ATUSF Altius M inerals Corporation
October 8, 2025 | St. John’s, Newfoundland
Altius Provides 3rd Quarter 2025 Project Generation Update
Altius Minerals Corporation ( ALS:TSX) ( ATUSF: OTCQX ) (“Altius”) 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 September 30, 2025 was $44.0 million, compared to $87.3
million at June 30 , 202 5. Gross cash proceeds for the quarter totaled $67 .6 million received from the
Orogen Royalties Inc. (TSX-V: OGN) (“Orogen”) plan of arrangement with Triple Flag Precious Metals
Corp. in relation to the acquisition of Orogen’s 1% NSR royalty covering the Arthur gold project. In addition
to the $67.6 million in proceeds, Altius also received 9,889,490 new Orogen shares which were valued at
approximately $25 million as of September 30, 2025, implying total transaction consideration at that date
of more than $92 million. This compares to an original cumulative investment amount of less than $15
million.
On July 23, 2025, Altius announced the sale of 1% of its own 1.5% NSR royalty covering the Arthur project
for US$275 million (~C$375 million).
An updated list of the public equity holdings on which we hold royalties has been posted to the Altius website
at https://altiusminerals.com/investor-information/junior-equities-portfolio/.
Portfolio Highlights
Orogen had a very active quarter, as summarized in their announcement dated September 24, 2025,
which acknowledged active drilling campaigns underway in seven partner -funded programs in Nevada,
British Columbia, Colombia and Western Kenya, all areas where Orogen holds projects or royalty interests.
Altius invested $1 million in the Blue Moon Metals Inc. (TSX-V: MOON) public offering announced during
the quarter and also invested $250,000 in Perseverance Metals Inc. (“Perseverance”) as part of its
planned Initial Public Offering announced in late September. Altius is a substantial shareholder (7.35%) of
Perseverance primarily as part of its sale of the Voyageur Nickel project to the company in 2024, on which
Altius also retains a 2% NSR royalty.
In Nevada, Eminent Gold Corp (TSX -V: EMNT) (“Eminent”) completed two IP lines across the steam -
heated alteration cap at the Celts gold project and has interpreted a normal fault beneath the zone of intense
alteration. This structure will be the principal target of a late 2025 drill program. Altius has an equity
investment in Eminent and a 1.5% NSR royalty on the Celts project, subject to a 0.5% buydown right.
Altitude Minerals Ltd. (ASX: ATT) announced its exclusive option to purchase from Orogen and Altius
(50/50) the Firenze gold project in Nevada for total consideration of cash and/or shares of US$400,000 due
November 30, 2025. Altius will retain a 1.5% NSR royalty on the Firenze project, subject to a 0.5% buydown
right.
Both the Celts and Firenze projects were originally generated from Altius’s ongoing exploration alliance
with Orogen.
Wolfden Resources Corporation (TSX -V: WLF) (“Wolfden”) announced that it has completed the first
600 metre core hole of an approximate 1,800 metre drill program at its Rockland gold project in Nevada.
The program is designed to test below historical drill results that ended in gold mineralization, including
146.4 metres at 1.0 g/t AuEq* in hole PG -32. Altius holds a greater than 10% equity position in Wolfden.
TSX: ALS | OTCQX: ATUSF Altius M inerals Corporation
*True widths unknown. Calculation of AuEq uses gold price of US$2000/oz and silver price of US$25/oz.
The gold to silver ratio is approximately 9:1.
Each of the Celts , Firenze, and Rockland projects are located in the Walker Lane Trend and the low-
sulphidation epithermal styles of gold mineralization at each project are broadly analogous to the Merlin -
Silicon deposits at the Arthur project being advanced by AngloGold Ashanti North America Inc., where
Altius retains a 0.5% NSR royalty.
Altius also finalized an agreement with private company Sun Valley Minerals Inc. (“Sun Valley”) consisting
of a $1.3 million equity investment (9. 2% stake). Under this agreement, Altius will receive certain equity
participation rights and a right of first offer to purchase physical land underlying mineral titles held by Sun
Valley in Uruguay that, if developed, can convert to a 1% Gross Sales Royalty.
As part of its project generation investment mandate, Altius continues to evaluate exploration alliances and
equity investment opportunities in multiple jurisdictions that support royalty creation.
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 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 46,276,054 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:
Lawrence Winter
Email: [email protected]
Tel: 1.877.576.2209
Flora Wood
Email: [email protected]
Tel: 1.877.576.2209
Direct: 1.416.346.9020