Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) is pleased to update its Project Generation (“PG”) business activities and its public junior equities portfolio.

The market value of equities in the portfolio at September 30, 2024 was $65.3 million, compared to $55.8 million at June 30, 2024. The value is non-inclusive of net cash proceeds of $6.5 million that were generated from various portfolio sales during the quarter and total net proceeds of $18 million from the portfolio thus far in 2024.

An updated list of the public equity holdings has been posted to the Altius website at https://www.altiusminerals.com/investor-information/junior-equities-portfolio/.

Portfolio Updates

Recently reported updates from certain portfolio companies included the following:

Orogen Royalties Inc. (TSX:OGN-V) (“Orogen”) reported record royalty revenue and a profitable Q2-2024 while also highlighting discovery of the Navidad vein system by First Majestic on its Ermitaño project within Orogen’s royalty area of interest. AngloGold Ashanti plc also continued to make significant advancements at the Expanded Silicon gold project located in Nevada where Orogen holds a 1% NSR royalty. Altius holds a total of 36,430,561 common shares, or 18.15% of the issued and outstanding common shares of Orogen and also directly holds a 1.5% NSR royalty on the Expanded Silicon project.

Silvercorp Metals Inc. ("Silvercorp") (TSX: SVM) (NYSE American: SVM) announced the completion of its acquisition of all of the outstanding common shares of Adventus Mining Corp. (TSX-V:ADZN) (“Adventus”) in exchange for Silvercorp common shares during the quarter. Subsequent to completion of the Adventus acquisition Silvercorp reported initiation of the process for construction of the El Domo copper-gold mine with a goal to bring the project into production in 2026. Altius was a cofounding shareholder of Adventus and holds a 2% NSR royalty on the El Domo-Curipamba project.

Tru Precious Metals Corp. (TRU-TSX-V) (“TRU”) reported a definitive earn-in option agreement with Eldorado Gold Corp. to earn an 80-per-cent ownership interest in its Golden Rose project in central Newfoundland. Altius is a substantial shareholder of TRU, following its vend in of the Golden Rose project, and retains a 2% NSR royalty covering the property.

Churchill Resources Inc. (TSX-V:CRI) (“Churchill”) had a completed a $2.5 million financing and reported the commencement of drilling at its Taylor Brook nickel property in western Newfoundland. Altius is a substantial shareholder of Churchill related to its origination and sale of the Taylor Brook project and retains a 2% NSR royalty covering the project.

Qualified Person

Lawrence Winter, Ph.D., P.Geo., Vice President, Generative & 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

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. Altius has 46,479,865 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.

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