Altius Provides 1st Quarter 2020 Project Generation Update

Altius Minerals Corporation (“Altius”) (ALS:TSX) (ATUSF: OTCQX) is pleased to provide an update on its Project Generation (“PG”) business activities and performance of its related junior equities portfolio for the first quarter of 2020.

The market value of the junior equities portfolio at March 31, 2020 was $34 million, including two private company investments at book value, compared to $54.1 million at December 31, 2019. The decline in the portfolio value during the quarter is consistent with market value decreases that have been experienced within the broader junior mining sector related to the COVID-19 pandemic. During the quarter, net cash proceeds of $982,000 were generated from the sales of certain equities, with no new equity purchases. An updated list of the public equity holdings is posted to the Altius website at http://altiusminerals.com/projects/junior-equities.

During the quarter the company entered into a proposed purchase agreement with Antler Gold Inc. (“Antler”) for the Wilding Lake gold project. The property was originally acquired by Antler from Altius under option agreements entered in 2016 and 2017 in exchange for 8.22 million common shares of Antler. Under the current agreement, which remains subject to the satisfaction of certain conditions including the approval of the TSX Venture Exchange, Altius will relinquish its 8.22 million common shares of Antler in return for the re-acquisition of 100% ownership of the project. Wilding Lake is contiguous with Marathon Gold Corporation’s Valentine Lake gold project.

Altius has collaborated with AbraPlata Resource Corp. (TSXV:ABRA ) (“AbraPlata”) in its recent acquisition of the La Coipita project, located in San Juan province, Argentina. The agreement offers AbraPlata an attractive, underexplored district-scale property located in the prolific Miocene porphyry-epithermal belt which hosts multiple drill-ready porphyry copper-gold targets. Altius is a substantial shareholder of AbraPlata and holds the exclusive right to acquire an underlying 1.1% net smelter return royalty on the La Coipita project - https://www.abraplata.com/news-releases/abraplata-announces-option-to- ....