ALTUF - ALTUF STOCK NEWS

Altus Strategies Plc (OTCQX: ALTUF) announced the issuance of 6,000 ordinary shares following the exercise of warrants at C$1.125 (approx. £0.64) each, generating gross proceeds of C$6,750 (approx. £3,800). The new shares will be admitted to trading on the AIM market of the London Stock Exchange on or around February 19, 2021. Total voting rights will be updated to 70,097,601 following this issuance. The funds will be utilized for working capital purposes. The company focuses on generating royalties within Africa and has garnered significant institutional investor backing.

Altus Strategies has received 10 million ordinary shares from Canyon Resources Ltd, valued at approximately £0.64M / C$1.15M. This issuance completes the terms of the Joint Venture Termination Agreement related to the Birsok bauxite project in Cameroon. In total, Altus has acquired 25 million shares from Canyon, now holding a 4.25% stake in the company and a US$1.50/tonne royalty on Birsok. Canyon's Mineral Resource Estimate shows 892 million tonnes of bauxite, which is beneficial for future operational developments.

Altus Strategies has been awarded four gold exploration licences in Eastern Egypt, covering 1,565 km². This significant development follows a competitive bid process and allows the company to explore areas with historical artisanal mining. The licences target the Arabian-Nubian Shield, known for its gold potential, with plans for initial exploration programs underway. Altus aims to enhance its project portfolio, backed by a strategic investment from La Mancha, which holds a 35% stake in the company.

Altus Strategies Plc reports significant discoveries of copper and silver at its Agdz project in Morocco, including a new 450m long zone at Makarn North Prospect with grades up to 3.50% Cu and 308 g/t Ag. Additional findings from other prospects yielded grades of 4.67% Cu and 308 g/t Ag at Makarn North, 3.59% Cu and 149 g/t Ag at Makarn South, and notable results from Amzwaro and Minière prospects. An Induced Polarisation geophysical survey is scheduled for Q1 2021 to further explore the project.

Altus Strategies Plc reports that the shareholders of Canyon Resources Ltd have approved issuing 10 million shares to Altus following a Joint Venture Termination Agreement. This decision was made during Canyon's Annual General Meeting on November 30, 2020. Altus now holds approximately 16.1 million Canyon shares, equating to a 2.6% interest, with shares trading at around A$0.11 each. The issued shares will be subject to a 12-month escrow period.

Altus Strategies Plc (OTCQX: ALTUF) published its unaudited financial results for the three and nine months ending September 30, 2020. Key highlights include a mineral resource estimate for the Diba gold project in Mali, reporting 217,000 ounces in the Indicated category and 187,000 ounces in the Inferred category. Furthermore, an updated Preliminary Economic Assessment shows a 32% increase in after-tax net present value to US$107 million. The company also holds a cash balance of £6.8m and signed agreements for gold projects in Côte d'Ivoire.

Altus Strategies has updated the Preliminary Economic Assessment (PEA) for its Diba gold project in Mali, resulting in a 32% increase in Net Present Value (NPV) to US$107 million after tax. This update reflects improved oxide gold recoveries, increasing from 80% to 95%. The project indicates a pre-tax NPV of US$152 million and a payback period of 6.1 months. The updated PEA supports a low-cost, low-strip ratio open-pit mine with average annual production of 57,000 oz of gold. The company has initiated a 10,000m drilling program aimed at expanding resources.

Altus Strategies Plc (AIM:ALS)(TSX-V:ALTS)(OTCQX:ALTUF) reported that CEO Steven Poulton purchased 111,903 Ordinary Shares at an average price of 61.46p per share on October 28, 2020. This acquisition increases his total holding to 5,720,000 shares, representing approximately 8.16% of the company's outstanding share capital. The announcement complies with EU Market Abuse Regulation requirements, promoting transparency in director dealings.

Altus Strategies announced promising metallurgical test results from its 100% owned Diba gold project in Mali. The tests showed:

• 98.3% gold recovery from oxide samples using carbon-in-leach (CIL) methods.
• 86.8% recovery from sulphide samples under similar conditions.
• 95.8% recovery from oxide samples using heap leach processing.

The robust findings suggest a significant upgrade to the existing Preliminary Economic Assessment (PEA), initially valuing the project at US$81M NPV, by incorporating higher recoveries and sulphide resource estimates. A drill program is planned to explore additional prospects.