Altius Provides 3rd Quarter 2021 Project Generation Update

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--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 at September 30, 2021 was approximately $51.2 million, non-inclusive of $9.1 million in equity sales net of new investments. This compares to a market value of equities of $64.5 million at June 30, 2021.

10,089,199 common shares of Chesterfield Resources (CHF:LSE) were received during the quarter as payment for the Corporation’s sale of its Adeline copper project in Labrador, the value of which is included in the total above. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities.

Portfolio and Project Highlights

Adventus Mining Corporation (ADZN:TSXV) (“Adventus”) continued to advance the ongoing feasibility study of its copper and gold rich El Domo deposit located within the Curipamba project, which is anticipated to be completed in the fourth quarter of 2021, and is continuing to advance detailed planning for the final engineering design and commencement of mine construction beginning in 2022. Adventus also reported drilling results from a new discovery of volcanogenic massive sulphide (VMS) mineralization at Agua Santa, located approximately 4.5 kms southwest of the El Domo deposit, that included 6.34 metres of 1.77% copper, 1.46 grams per tonne (g/t) gold, 7.45% zinc, 23.2 g/t silver and 0.24% lead - Press Release. Altius holds a 2% net smelter return royalty covering the Curipamba project.

Orogen Royalties Inc. (OGN:TSV-V) (“Orogen”) announced plans to spin out the Bell Creek copper project in BC and completed several project joint ventures. AngloGold Ashanti also provided an update during the quarter relating to the Silicon gold project in Nevada, over which Orogen and Altius hold 1% and 1.5% NSR royalties. In its announcement (Press Release) it noted the potential for “significant oxide ore bodies at Silicon and Merlin, as well as additional sulphide potential at Silicon at depth”, and that it will publish a Mineral Resource at Silicon for the year ending 31 December 2021.

Abrasilver Resource Corp. (ABRA:TSX-V) (“Abra”) recently reported a significant increase in a mineral resource estimate for its Diablillos project along with plans to complete an updated PEA study in the fourth quarter - Press Release. In addition, Abra also announced that joint venture operator Rio Tinto Mining and Exploration Limited commenced drilling at the Arcas copper-gold project located in Chile - Press Release. Altius originated the Arcas project and retains a 0.98% gross sales royalty covering the property.

Surge Copper Corp. (SURG:TSX-V) (“Surge”) reported new drill results from its Ootsa Cu-Au porphyry project in British Columbia including an intersection of 194 metres of 0.24% Cu, 0.19 g/t Au, 0.036% Mo and 2.3 g/t Ag- Press Release. The Company anticipates continued drilling at Ootsa through the remainder of the year.

Recent drill results and plans for additional drilling were reported during the quarter by the operators of projects the Company has sold or optioned within Newfoundland and Labrador including:

- Sterling Metals Corp. (SAG:TSX.V) reported initial drilling results from the Sail Pond silver rich polymetallic project and announced an expanded drilling program.

- Canstar Resources Inc. (ROX:TSX-V) reported initial strong gold intercepts from its Golden Baie project from an ongoing drilling program.

- Canterra Minerals Corporation (CTM:TSX-V) announced the commencement of a 5000 meter drilling program at the Wilding Lake project that is targeting the extensions of gold rich surface mineralization.

- TRU Precious Metals Corp. (TRU:TSX-V) announced the commencement of a 5000 meter drilling program at the Golden Rose project.

- Churchill Resources (CRI:TSX-V) announced a planned drilling program at the Taylor Brook nickel project that is expected to commence shortly.

Qualified Person

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.

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 41,410,175 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.