Ticker Symbol: 24-Sept-2018 ALS.TSX Civic Address: Altius Minerals Corporation
Date:
Ticker Symbol:
24-Sept-2018
ALS.TSX
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road
St. John’s, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441
e-mail: [email protected]
Mailing Address:
Altius Minerals Corporation
P.O. Box 8263 Stn “A”
St. John’s, NL, A1B 3N4, CANADA
ALTIUS TRANSFERS LYNX DIAMOND PROJECT to ADIA RESOURCES INC.
St. John’s - Altius Minerals Corporation (“Altius”) (ALS:TSX ) is pleased to announce that it has incorporated a
private company, Adia Resources Inc. (“Adia”), for the purpose of accelerating the ongoing exploration and
advancement of the Lynx Diamond Project (the “Project”), the first discovery of diamonds in Manit oba. As a
prelude to the advancement of the Project, Adia was formed to carry out exploration work on the Project.
The option held by Altius to earn a 100% interest in the Project has been assigned to Adia in exchange for
5,000,000 common shares of Adia. In addition, Altius will retain a 2.5% gross overriding royalty on diamond
proceeds from the Project, which will be effective subject to the buyback of other underlying royalties, a right
which Altius will retain.
Adia is currently undertaking a $2,000,000 private placement at a deemed price of $0.50 per share which has
been fully subscribed by third party investors, including several diamond exploration sector leaders. In addition,
Adia has entered into an Equity Participation and Support Agr eement with De Beers Canada Inc. (“De Beers”) .
Under this agreement De Beers has committed to contribute $1,500,000 (at a deemed price of $0.50 per share)
in in -kind services and support to Adia in the form of third party and proprietary airborne and helib orne
geophysical surveys, microdiamond analysis (MiDA), grade estimation/diamond characterization and other
specialist services. De Beers shall have, among other rights, a pro rata participation right in future equity
financings. Subsequent to the private placement and the full provision of in-kind services from De Beers, Adia
will be owned >50% by Altius and approximately 15.4% by De Beers.
About the Lynx Diamond Project.
The Lynx Diamond Project represents the first discovery of diamonds in the province of Manitoba. Sampling
and MiDA analysis of the Eastern Bay zone to date has yielded a total of 1,693 microdiamonds in the +0.106 mm
to +0.850 mm size fraction from 15 samp les collectively weighing 240 kg as initially reported by Altius on
September 25, 2017. Full results are available at http://altiusminerals.com/projects/lynx-diamond. SRK
Consulting, Vancouver, is updating an independent NI 43-101 compliant report. Adia is executing a three-phase
program: (1) geophysics and mapping (underway), (2) drilling, MiDA, 3D modelling and possibly mini -bulk
sampling, and (3) bulk sampling for macrodiamonds.
Phase 1 geophysical surveys to guide mapping and drill target delineation commenced on the Project in late
July, including a high resolution, fixed-wing magnetic survey totaling 13,021 line kilometres and a more detailed
1200 line kilometres heli-borne Full Tensor Magnetic Gradient SQUID survey, which was focused on delineating
the Eastern Bay target. Recently completed field programs were focused on mapping and interpretation of the
ultramafic sequences. An initial drill program as part of phase 2 will b e designed for winter 2019 to allow for
evaluation of the Eastern Bay target, including determining the extent of the sequence and interpreting the
volcanic facies, with diamondiferous potential supported with sampling and MiDA analysis, in order to provid e
guidance towards a mini-bulk sampling program in phase 3.
Date:
Ticker Symbol:
24-Sept-2018
ALS.TSX
Civic Address:
Altius Minerals Corporation
Suite 202, 66 Kenmount Road
St. John’s, NL, A1B 3V7, CANADA
Website: www.altiusminerals.com
Toll Free: 1.877.576.2209
Fax: 709.576.3441
e-mail: [email protected]
Mailing Address:
Altius Minerals Corporation
P.O. Box 8263 Stn “A”
St. John’s, NL, A1B 3N4, CANADA
The Project is subject to an Exploration Agreement with the Bunibonibee Cree Nation (BCN)
(http://altiusminerals.com/uploads/BunibonibeePressRelease.pdf), which represents one of the first
agreements of its type in Manitoba and provides for ongoing consultation, mutual respect and support between
Altius (and henceforth Adia) and BCN with respect to the exploration programs.
Lawrence Winter, Ph.D., P.Geo., Vice‐President of 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.
More information on Altius projects can be found at www.altiusminerals.com.
About Altius
Altius directly and indirectly holds diversified royalties and streams which generate revenue from 15 operating mines. These
are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical) and
metallurgical coal. The portfolio also includes numerous pre -development stage royalties covering a wide spectrum of
mineral commodities and jurisdictions. It also holds a large portfolio of exploration stage projects which it has generated
for deal making with industry partners that results in newly created royalties and equity and minority interests.
Altius has 43,099,526 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 Flora Wood ([email protected]) or Chad Wells
at 1.877.576.2209