Mr. Chad Wells reports

ALTIUS RENEWS NORMAL COURSE ISSUER BID

Altius Minerals Corp. has renewed its normal course issuer bid (NCIB) by which it may purchase at market price up to 1,996,856 common shares, being approximately 4.21 per cent of the 47,430,043 common shares issued and outstanding as of Aug. 11, 2023, through the facilities of the Toronto Stock Exchange (TSX) or a Canadian alternative trading system. The bid is subject to regulatory approval. The NCIB will commence Aug. 22, 2023, and will end no later than Aug. 21, 2024. Any shares purchased during the NCIB will be cancelled and returned to treasury.

The TSX rules permit Altius to purchase daily, through TSX facilities or approved alternative trading systems, a maximum of 18,544 shares under the NCIB, being approximately 25 per cent of the average daily trading volume (ADTV) of 74,177 shares in the preceding six calendar months of trading prior to the bid. Under its current NCIB, which commenced on Aug. 22, 2022, and will terminate on Aug. 21, 2023, Altius has purchased, as of Aug. 11, 2023, a total of 312,800 shares through market purchases on the TSX at a weighted average price of $20.32 per share, while its approval allowed for it to purchase a maximum number of 1,698,481 shares. The reason for the NCIB is that, in the opinion of the board of directors, the value of Altius, based on anticipated cash flows and underlying asset values, is from time to time greater than the market price of the shares and, accordingly, the acquisition of shares under the NCIB represents an appropriate use of funds. Altius has had an active NCIB program every year since 2010.

About Altius Minerals Corp.

Altius's strategy is to create per-share growth through a diversified portfolio of royalty assets that relates 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 macrotrends 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.