Altius Resources Inc. Acquires Additional Common Shares of Wolfden Resources Corporation

TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation

January 20, 2021 | St. John’s, Newfoundland

Altius Resources Inc. Acquires Additional Common Shares of

Wolfden Resources Corporation

Altius Resources Inc. (“Altius”), a wholly-owned subsidiary of Altius Minerals Corporation (TSX:ALS)

(OTCQX: ATUSF) today announces that it has entered into a subscription agreement to acquire ownership

of 3,125,000 common shares (“Shares”) of Wolfden Resources Corporation (TSXV: WLF) (“Wolfden”), with

its head office at Unit 5, 1100 Russell Street, Thunder Bay, Ontario, P7B 5N2.

The Shares will be acquired by Altius pursuant to a non-brokered private placement (“Private Placement”)

of an aggregate of 6,250,000 common shares of Wolfden. Altius will acquire the Shares at a price of $0.32

per Share for an aggregate purchase price of $1,000,000 upon Wolfden obtaining approval of the TSX

Venture Exchange for the Private Placement.

The Shares to be acquired by Altius under to the Private Placement will represent 2.28% of the issued and

outstanding Common Shares of Wolfden (“Common Shares”).

Prior to the closing of the Private Placement, Altius owns 14,200,000 Common Shares representing 10.86%

of the issued and outstanding Common Shares and 7,100,000 warrants of Wolfden (“Warrants”) exercisable

into 7,100,000 Common Shares, which, if exercised, would represent approximately 15.44% of the issued

and outstanding Common Shares. Following completion of the Private Placement, Altius will own

17,325,000 Common Shares representing 12.63% of the issued a nd outstanding Common Shares and

7,100,000 Warrants. If Altius exercises all Warrants held by it, Altius would hold an aggregate of 24,425,000

Common Shares representing approximately 16.94% of the issued and outstanding Common Shares post-

exercise.

Altius will acquire the Shares for investment purposes only, and depending on market and other conditions,

Altius may from time to time in the future increase or decrease its ownership, control or direction over

securities of Wolfden, through market transa ctions, private agreements, or otherwise. The head office of

Altius is located at 38 Duffy Place, 2nd Floor, St John's, NL A1B 4M5.

TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that rela te 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 41,477,653 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