Mr. Lawrence Winter reports

ALTIUS PROVIDES 2ND QUARTER 2026 PROJECT GENERATION UPDATE

Altius Minerals Corp. has provided an update on its project generation (PG) business activities and its junior equities portfolio.

The market value of equities in the portfolio at June 30, 2026, was approximately $80.4-million, compared with $70-million at March 31, 2026. Net portfolio investment of approximately $12.5-million was completed during the quarter.

During the quarter, Altius participated in equity financings closed by existing and new portfolio companies, with approximately $4.2-million invested in TNR Gold Corp. (see announcement by TNR dated May 25, 2026) and smaller amounts into existing investee companies Blue Moon Metals Inc. and private company Aurum Discovery Ltd. In addition, Altius participated in an equity financing in Buffalo Potash Corp. and private company Gilpas Resources Ltd. and created new royalty opportunities in each.

An updated list of the public equity holdings has been posted to the Altius website.

Development-stage royalty updates

Argentina's Ministry of Economy announced the approval of Zijin Mining Group's Tres Quebradas expansion under the RIGI investment regime, where Zijin is committing $709-million (U.S.) in capital for project expansion. The RIGI-protected phase 2 expansion will bring on an additional 40,000 tonnes of lithium carbonate (LCE) per year, pushing total combined output to between 60,000 and 80,000 tonnes of LCE (lithium carbonate equivalent) per year. Zijin reports a resource at Tres Quebradas of 8.42 million tonnes of LCE. Altius holds a 1-per-cent GOR (gross overriding royalty) on Tres Quebradas.

Atlas Lithium Corp. recently announced that it is on track for first commercial production of lithium oxide concentrate in the fourth quarter of 2027 from its Neves project, which is designed to produce approximately 150,000 tonnes of high-quality lithium oxide concentrate per year. Altius holds a 3-per-cent GOR on the Neves project.

Salazar Resources Ltd. and Silvercorp Metals Inc. have recently separately reported (see Salazar's news and Silvercorp's update) an updated independent National Instrument 43-101 technical report for Silvercorp on the Curipamba-El Domo polymetallic project, with an effective date of Dec. 31, 2025, which includes a comparison with the 2021 feasibility study. The parties reported an increase of 27 per cent to the measured and indicated resources from nine million tonnes to 11.4 million tonnes grading 1.85 per cent copper, 2.11 grams per tonne gold, 2.42 per cent zinc, 0.22 per cent lead and 41.69 grams per tonne silver and an increase to inferred mineral resources of 245 per cent from 1.1 million tonnes to 3.8 million tonnes, grading 0.46 per cent copper, 0.97 per cent zinc, 0.13 per cent lead, 0.80 gram per tonne gold and 28.49 grams per tonne silver at El Domo. Reserves have also increased by 10 per cent to 7.13 million tonnes from 6.48 million tonnes, which has resulted in an increased mine life of 2.5 years from nine years to 11.5 years, excluding construction. Silvercorp continues to expect first production to begin in the second half of 2027. Altius holds a 2-per-cent net smelter return royalty on the Curipamba project.

Portfolio highlights

Buffalo Potash is a Saskatchewan-based potash developer pursuing a modular approach to solution mining through its patented horizontal line-drive (HLD) technology. Altius participated in Buffalo's recent private placement (see announcement on June 29, 2026) in the amount of $3-million. Furthermore and separate from the financing, Altius and Buffalo have executed a non-binding memorandum of understanding to explore the potential development of royalty interests on Buffalo's Saskatchewan potash properties, including the facilitation of negotiations with private mineral rights holders and a right to participate in exclusive discussions regarding any future royalty or streaming financing on Buffalo's various landholdings. To that extent, Altius has also acquired from a private owner a 0.16-per-cent gross overriding royalty on Buffalo's greenfield-stage Odessa project.

Gilpas Resources is a private Canadian company that is advancing a series of iron oxide copper-gold (IOCG) properties in northern Sweden, with a focus on the Kaivaive project. Altius recently closed a $1.5-million private placement in Gilpas, which gives Altius a 20-per-cent interest in Gilpas and a 0.5-per-cent net smelter return royalty on all of Gilpas's Swedish properties, with certain additional royalty purchase rights on the Kaivaive project and further equity participation rights. Altius will work closely with Gilpas on technical matters related to the project advancement.

As part of its continuing 50/50 gold exploration alliance in Nevada with Orogen Royalties Inc., the Table Mountain project option agreement was closed with Toogood Gold Corp. The agreement includes a 3-per-cent NSR royalty subject to certain buydown conditions upon exercise of the option.

Orogen remains the largest component of Altius's junior equity portfolio. Orogen recently announced total revenue increased 57 per cent year over year in Q1 2026, driven by stronger royalty revenues due to higher gold and silver prices. Net income increased 198 per cent.

Orogen's project generation business continues to create new royalty interests.

Exploration highlights across Orogen's royalty portfolio include:

• A maiden 10,000-metre drill program at the La Rica property (1-per-cent NSR royalty) in Colombia (results pending) by MCC Mining;
• A 3,871-metre drill program at the Si2 project (2-per-cent NSR royalty) in Nevada by K2 Gold that successfully defined extensive gold and silver mineralization;
• A 2,517-metre drill program by Lunex Metals on the Luna Roja project (1-per-cent NSR royalty) in Argentina delineated a 2.8-kilometre corridor of epithermal mineralization;
• A 15,000-metre drill program drill program recently announced by Kingfisher Metals on the HWY 37 and Hank claims (1-per-cent to 3-per-cent NSR royalty) in British Columbia.

Abrasilver Resource Corp. on June 15 reported assay results from the 2026 drill program at the La Coipita copper-gold-molybdenum project, located in the San Juan province of Argentina. Hole DDH-LC26-010 returned the strongest drill intercept recorded to date at La Coipita: 747.5 metres grading 0.69 per cent copper, 0.06 gram per tonne gold and 142 parts per million molybdenum, from 396 metres to 1,143.5 metres downhole depth, including 108 metres at 1.06 per cent copper, 0.10 gram per tonne gold and 204 parts per million molybdenum, from 396 metres to 504 metres. The project is subject to an earn-in by a subsidiary of Teck Resources Ltd., which has now completed a total of 11,270 metres of diamond drilling across 19 holes, representing approximately $23-million (U.S.)i n expenditures to date. It is anticipated by the parties to become a joint venture (80 per cent Teck, 20 per cent Abrasilver). Altius retains a buyback option to acquire a 1.1-per-cent NSR royalty on La Coipita for $5-million (U.S.).

As part of its PG investment mandate, Altius continues to evaluate potential exploration alliances and junior equity investment opportunities that support royalty creation across multiple jurisdictions.

Qualified person

Dr. Lawrence Winter, PhD, PGeo, vice-president, generative and technical, 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'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 global growth trends, including increasing electricity-based market share within energy usage, global infrastructure build and refurbishment growth, increased EAF-based (electric arc furnace) steelmaking, steadily increasing agricultural fertilizer requirements, and the enhanced appetite for financial asset diversification through precious metals ownership. These macro trends each hold the potential to cause higher demand for many of Altius's commodity exposures, including potash, high-purity iron ore, electricity, base metals and gold. In addition, Altius runs a successful project generation business that originates mineral projects for sale to developers in exchange for royalties and that has a demonstrated record of driving outsized direct returns from its overall royalty investment portfolio. Altius has 55,748,220 common shares issued and outstanding, which are listed on Canada's Toronto Stock Exchange. It is a member of the S&P/TSX Composite and S&P/TSX Global Mining Indices and the S&P/TSX Canadian Dividend Aristocrats Index.