23:56:14 EDT Mon 18 Mar 2024
Enter Symbol
or Name
USA
CA



Altius Minerals Corp
Symbol ALS
Shares Issued 43,215,026
Close 2018-04-23 C$ 13.97
Market Cap C$ 603,713,913
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Altius talks project updates, junior equities portfolio

2018-04-24 10:49 ET - News Release

Mr. Chad Wells reports

ALTIUS PROVIDES 1ST QUARTER 2018 PROJECT GENERATION UPDATE

Altius Minerals Corp. has updated its project generation business activities and its public junior equities portfolio.

The market value of the junior equities portfolio at the close of trading April 23, 2018, was $52.9-million.

This value includes an increased shareholding in Alderon Iron Ore Corp., as detailed in a press release dated March 23, 2018. It does not include a $10-million debenture that is convertible into Champion Iron Ore shares, various in-the-money share purchase warrants or other equities to be received in exchange for announced project transactions that remain subject to final closing. An updated list of the public equity holdings has been posted to the Altius website.

Project updates and new agreements

Altius continued to advance the new diamond discovery at its Lynx project in Manitoba during the quarter with the execution of an exploration agreement with the Bunibonibee Cree Nation. Microdiamond analysis data received to date from 15 samples from the Eastern Bay zone have yielded 1,693 microdiamonds (plus-0.106-millimetre-to-plus-0.850-millimetre size fraction) from 240 kilograms of ultramafic host units collected over an approximately three-kilometre strike length. An independent National Instrument 43-101 report will be provided in Q2 as Altius prepares to launch a new public company vehicle around the project. This is anticipated to be undertaken in partnership with certain strategic investors in order to facilitate the advancement of the project through bulk sampling programs as quickly as technically feasible. A project summary is available on Altius's website. Altius acknowledges support from the Province of Manitoba through its mineral exploration assistance program.

Aethon Minerals Corp. is expected to begin trading in the first week of May. Aethon was created when Altius vended a portfolio of copper-gold projects to Watusi Capital Corp. As a condition of the transaction, Aethon raised $7.7-million through a non-brokered private placement led by Sprott Capital Partners and affiliates. A news release detailing the completion of the transaction can be viewed on Aethon's website. Following the transaction Altius will hold or control approximately 19.9 per cent of Aethon and a 2-per-cent gross sales royalty covering its current portfolio of projects.

A letter of intent has been executed to vend the Sail Pond silver-copper-lead-zinc project, located in northwestern Newfoundland, to New Found Gold Corp. (NFG). As consideration, Altius will receive 12 million common shares of NFG and will retain a 2-per-cent net smelter return (NSR) royalty over the project. Other key conditions of the letter of intent include NFG listing its common shares on a recognized Canadian stock exchange and raising a minimum of $7.5-million through a private placement, of which Altius would invest a minimum of $1-million. A full summary of the deal terms are available on Altius's website.

Altius has received 7,754,371 common shares of Sokoman Iron Corp. as payment for its option of the Moosehead gold project in Central Newfoundland while retaining a 2-per-cent NSR royalty. A more detailed account of the transaction and project highlights can be viewed on Sokoman's website.

Junior equities portfolio highlights

In April, Adventus Zinc Corp., in which Altius holds an approximately 27-per-cent shareholding, released infill drilling results from the El Domo VMS (volcanogenic massive sulphide) deposit at its Curipamba copper-lead-zinc project in Ecuador. To date, Adventus has completed approximately 2,100 metres of its planned 7,500-metre program. Seven drill holes have returned significant intersections of semi-massive-to-massive sulphide mineralization with a highlight being drill hole CURI-250, which intersected 10.35 metres grading 3.85 per cent copper, 5.12 grams per tonne gold, 10.34 per cent zinc, 139.0 grams per tonne silver and 0.95 per cent lead (see Adventus's website). On April 16, 2018, Evrim Resources Corp. released significant exploration results from its 100-per-cent-owned Cuale gold project in Mexico, which included assays from a surface trench that graded 13.61 grams per tonne gold (uncut) over 106.2 metres (see Evrim's website). Altius holds a 1.5-per-cent NSR royalty for precious metals on the Cuale project and is Evrim's largest shareholder with approximately 17 per cent of the outstanding shares of the company plus additional common share purchase warrants.

On April 4, 2018, Wolfden Resources Corp. released results from five of the 15 holes drilled in the current 10,000-metre exploration program at its Picket Mountain project in Maine, with the highlight being an intercept of 7.9 metres grading 14.8 per cent zinc, 5.7 per cent lead, 2.4 per cent copper, 187.3 grams per tonne silver and 1.3 grams per tonne gold from hole PM-18-007. The intent of this program is to confirm and expand upon historical drilling done in the 1980s as Wolfden works to complete a qualified mineral resource estimate by year-end (see Wolfden's website).

Dr. Lawrence Winter, PhD, PGeo, 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 Minerals Corp.

Altius directly and indirectly holds diversified royalties and streams that 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 predevelopment stage royalties covering a wide spectrum of mineral commodities and jurisdictions. It also holds a large portfolio of exploration-stage projects, which the company has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.

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