Altius provides a project construction update for year-end 2024

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street. Jones, Newfoundland — Altius Metals Corporation (TSX: ALS) (OTCQX: ATUSF) Altius (“Altius”) is pleased to provide an update on the activities of its Project Generation (“PG”) business and its small public equity portfolio. The market value of the small-cap portfolio at December 31, 2024 was $60.4 million, compared to $45.1 million at December 31, 2023.

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In early 2024, the decision was made to monetize certain liquid shares in the portfolio to fund acceleration of purchases under the Altius share repurchase program and other investment opportunities, and as such generated $26.4 million in gross proceeds. A total of $11.3 million was invested in additional purchases for Orogen (TSX-V:OGN) The stock plus modest amounts in other stocks resulted in net monetization of $15.1 million for the year, which is not included in the current portfolio value of $60.4 million mentioned above.

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An updated list of common stock holdings is posted on the Altius website at: https://altiusminerals.com/project-generation/junior-equities-portfolio/.

Small Stock Portfolio Highlights for 2024

institution currently Owns 39,557,961 common shares, or approximately 19.6% of shares. Orogen Royalties Inc. (TSX-V:OGN) (“Orogen”). Orogen has continued to execute on its business model of generating royalties based on project creation with noteworthy highlights including more than $5 million in 2024 royalty revenue from Ermitano gold mine royalties as well as advertisement To discover the Navidad vein system in the project that offers the potential to extend the life of the mine. It also benefited from AngloGold Ashanti’s strong progress (“Aga”) Expanded silicon project in Nevada, in which Orogen holds a 1% NSR equity (Altius also directly owns a 1.5% NSR equity). This project includes both the Silicon and Merlin deposits, which are rapidly emerging as significant new world-class gold discoveries in Nevada.

Altius and Orogen also continued their strategic alliance in Nevada, where they created several new projects that the partners recognized bore geological similarities to the discovery of silicon, two of which, the Cuprite and Celts gold projects, were sold to Strike Point Gold (TSX-V:SKP) and Eminent Gold (TSX-V:EMNT) respectively, while other projects continue to progress towards marketable status.

Adventus Mining Company (“Adventus”)of which Altius was a founding shareholder, was acquired by Silvercorp Metals Corporation (“Silvercorp”) (TSX: SVM) (NYSE American: SVM) During the year. At Silver Corp It was then announced Commencement of mine infrastructure and first production target in late 2026 from the El Dumo copper and gold project in Ecuador, in which Altius has a 2% NSR equity interest.

Altius also holds several additional junior equity and/or equity positions related to a variety of exploration projects in several jurisdictions that have multi-commodity potential, including the following.

• Canstar Resources, Inc. (ROX:TSX-V) It continued development of its Golden Baie project in central Newfoundland, built by Altius and on which it has a 2% NSR equity.
• Tru Precious Metals Corp. (TRU:TSX-V) (“TRU”) It continued development of its Golden Rose project in central Newfoundland through an earn-out option agreement with Eldorado Gold Corp. To obtain an 80 percent ownership stake. Altius is a major shareholder in TRU, following its sale of the Golden Rose project, and retains a 2% NSR ownership interest in the property.
• Churchill Resources Inc. (TSX-V:CRI) (“Churchill”) The company conducted further geophysical surveying and drilling at the Taylor Brook nickel property in western Newfoundland. Altius is a major shareholder in Churchill based on its construction and sale of the Taylor Brook project and retains a 2% NSR ownership interest in the project.

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Altius also continues to implement exploration programs across a variety of wholly owned and joint ventures with the aim of generating royalties and other interests.

Qualified person

Lawrence Winter, Ph.D., P.Geo., Vice President, Obstetrics and Technical Affairs, for Altius, a Qualified Person as defined in National Instrument 43-101 – Standards for Disclosure for Minerals Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared, and approved on this version.

About Altius

Altius’s strategy is to achieve equity growth through a diversified portfolio of equity assets that relate to long-term, high-margin operations. This strategy also provides shareholders with opportunities that are well aligned with global growth trends related to sustainability, including the transition of electricity generation from fossil fuels to renewables, electrification of transportation, lower emissions from the steel industry, and increased agricultural production requirements. Each of these macro trends has the potential to cause increased demand for several of Altius’ commodity exposures including copper, renewable electricity, several key battery metals (lithium, nickel, cobalt), clean iron ore and potash. Additionally, Altius runs a successful project builder company that creates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 46,290,608 issued and outstanding common shares listed on the Canadian Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.

View source version on Businesswire.com: https://www.businesswire.com/news/home/20250109293587/en/

communication

For more information, please contact:

Chad Wells
Email: Cwells@altiusminerals.com
Tel: 1.877.576.2209

Flora Wood
Email: food@altiusminerals.com
Tel: 1.877.576.2209
Live: 1.416.346.9020

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