ALTIUS MINERALS CORP - ATUSF STOCK NEWS

Altius Minerals provides update on Project Generation activities and junior equities portfolio

Altius Minerals Corporation renews Normal Course Issuer Bid to purchase up to 4.21% of common shares at market price.

Altius Minerals Corporation provides an update on its Project Generation business activities and public junior equities portfolio. The market value of equities in the portfolio decreased from $51.8 million to $41.8 million. Generative exploration activities are ramping up, and several new agreements are expected in the future. Approximately 300,000 meters of drilling is anticipated across the portfolio. Notable highlights include Orogen Royalties' acquisition of the Firenze gold project, Churchill Resources' financing for exploration work at Florence Lake Nickel project, Adventus Mining's advancements in engineering studies for El Domo project, AbraSilver Resource's favorable drill results at Diablillos project, Wolfden Resources' progress with the Pickett Mountain project rezoning application, Surge Copper's positive results from preliminary economic assessment for Ootsa project, and Archer Exploration's drilling at Grasset Nickel Project.

Altius Minerals Corporation reports first quarter revenue of $22.7 million compared to $27.1 million for the same period in 2022. Attributable royalty revenue of $21.4 million ($0.45 per share) compares to $25.5 million ($0.62 per share) reported in 2022. Quarterly Highlights include capacity expansion investment projects, successful IPO of Lithium Royalty Corp., and resource increases in the Silicon gold district in Nevada. Adjusted EBITDA of $19.1 million or $0.40 per share during Q1 2023 compares to $23.6 million or $0.57 per share during the prior year quarter.

Altius Minerals Corporation (ATUSF: OTCQX) reported an expected Q1 2023 attributable royalty revenue of $21.4 million, reflecting a decline compared to $23.1 million in Q4 2022 and $25.5 million in Q1 2022. Major contributors include potash revenue decreasing from $9.9 million to $9.0 million due to lower prices, and base metals revenue steady at $4.9 million amid mine closures. Iron ore revenue saw an increase to $1.9 million from $1.4 million, while thermal coal fell slightly to $3.0 million. Notably, renewable energy revenue surged to $1.3 million from $772,000 year-over-year. A detailed report will be released on May 8, 2023, with a conference call scheduled for May 9, 2023.

Altius Minerals Corporation (ATUSF) has reported a market value of $51.8 million in its public junior equities portfolio as of March 31, 2023, up from $50.3 million at year-end 2022. The company received $2.8 million in cash proceeds following a liquidation distribution from Alderon Iron Ore Corp. Altius estimates 270,000 metres of exploration and resource delineation drilling in 2023 across multiple projects. Key portfolio updates include Orogen Royalties’ positive cash flow report, AbraSilver's expansion of its drilling program by 22,000 metres, and promising results from Surge Copper Corp. and Sokoman Minerals. Altius continues to strengthen its portfolio with new projects and strategic alliances, while maintaining a focus on sustainability-related growth trends.