Ms. Flora Wood reports

ALTIUS REPORTS Q2 2023 EXPECTED ATTRIBUTABLE ROYALTY REVENUE(1) OF $18.7 MILLION

Altius Minerals Corp. expects to have Q2 2023 attributable royalty revenue of approximately $18.7-million.

Potash portfolio revenue during the quarter was $6.1-million mainly reflecting lower average realized prices relative to the prior quarter and the prior-year comparable quarterly period.

Base and battery metal (primarily copper) revenue was $4.8-million for the quarter. Differences relative to the prior-year comparable quarterly period reflect the scheduled closure of the 777 mine in Q2 of 2022 and lower realized pricing at Chapada.

Iron ore revenue in the form of dividends from Labrador Iron Ore Royalty Corp., which serves as a pass-through vehicle for royalty income and equity dividends related to the operations of Iron Ore Company of Canada (IOC), was $2.4-million.

Thermal (electrical) coal revenue during the quarter was $2.6-million. The prior-year comparable quarter included approximately $1.6-million by way of a retroactive adjustment to royalties received during 2021 and Q1 2022.

Renewable energy royalty revenue of $1.3-million relates to consolidation of the corporation's 58-per-cent interest in Altius Renewable Royalties Corp. and reflects continued ramp-up of portfolio production, which was partly offset by lower average realized prices.

Second quarter 2023 financial results conference call and webcast details

Additional details relating to individual royalty performances and asset-level developments will be provided with the release of full financial results, which will occur on Aug. 8, 2023, after the close of market with a conference call to follow on Aug. 9, 2023.

Date: Aug. 9, 2023

Time: 9 a.m. ET

Toll-Free Dial-in number: 1-888-396-8049

International dial-in number: 1-416-764-8646

Conference call title and ID: Altius Minerals Q2 2023 financial results, ID 46475901

About Altius Minerals Corp.

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. .

We seek Safe Harbor.