Altius Provides 2019 Project Generation Update

Altius Minerals Corporation (“Altius”) (TSX:ALS) (OTCQX: ATUSF) is pleased to update its Project Generation (“PG”) business activities and its public junior equities portfolio. The market value of the junior equities portfolio at December 31, 2019 was $54.1 million, while sales proceeds from the portfolio during the year totaled $19.2 million. This compares to portfolio value of $54.4 million at December 31, 2018. The year end 2019 and 2018 portfolio values noted here do not include share purchase warrant values or the value of AbraPlata Resource Corp. shares held by Mining Equity Fund, a Joint Venture in which Altius holds a 49% interest.

During the year the number of portfolio holdings was reduced from 27 to 18, resulting in $16.8 million in net proceeds after accounting for new or incremental investments that totaled $2.4 million. Many sales in 2019 were motivated by an objective to streamline portfolio company holdings to those for which Altius has some form of related strategic royalty interest. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities.

Brian Dalton, President and Chief Executive Officer of Altius commented: “Including net sale proceeds, Altius’s PG portfolio of junior mining equities generated a strong performance totaling approximately 30% and the net proceeds received from sales greatly exceeded the operating costs for our PG business allowing the company to allocate further capital towards debt repayments and purchases under our share buyback program. In addition, we achieved a major milestone upon the commencement of operations at the Gunnison copper mine, which represents the first production royalty to result from our PG business organic royalty growth platform. After accounting for realized and unrealized gains related to a parallel equity investment in the operator of Gunnison, this royalty was created at a negative cost.“

He then added, “I congratulate the Altius PG team on delivering another strong year of measurable financial performance on behalf of the shareholders. We are also highly encouraged by some of the longer-term, non-financial indicators that we monitor. Altius shareholders benefitted from a total of approximately 114,000 metres of third party funded drilling in 2019 that was completed on projects that we have exposure to through our PG portfolio. Additionally, several of our portfolio companies completed various stages of studies that indicated positive resource growth and / or positive economic assessments of projects on which we hold royalties.”