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ST. JOHN’S, Newfoundland and Labrador — Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) Altius Minerals Corporation (“Altius”) reports acceptance of a partial award (“Partial Award”) by the Arbitration Tribunal (“Tribunal”) relating to the extent of its interests within the Silicon gold region of Nevada. The parties involved in this decision are Altius Royalty Corporation, a wholly owned subsidiary of Altius, and AngloGold Ashanti North America Inc. (“AGA”), the North American subsidiary of AngloGold Ashanti plc and the owner of several mineral properties within the region.
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The Tribunal determined that the lands subject to Altius royalty under the royalty agreement between the parties dated February 20, 2015 (the “Royalty Agreement”) include all those enclosed within 26.6 km.2 the base area of interest (“Base AOI”) defined in the royalty agreement and certain contiguous and/or adjacent mineral areas currently owned by AGA that exceed the limits of the Base AOI.
With respect to sovereign lands that extend beyond the Base AOI, the Tribunal provided its interpretation of the various parts of the agreement within its Partial Award and ordered the parties, within the next 60 days, to jointly submit detailed information. list of various claim units believed to be under the king. If the parties report that there are any problems between them in defining or clarifying mining claims under the budget, the Tribunal will decide on them and later issue its final award.
Altius’ First Definitions of a Partial Prize1
Altius currently believes that under the Partial Award the known extent of the Silicon and Merlin deposits, based on the information released to date by AGA, including essentially the entire southernmost extension of the Merlin Deposit beyond the Base AOI, is under its jurisdiction.
Certain properties acquired by AGA from third parties, including Coeur Sterling, Inc. and Corvus Gold, Inc., with a designation date prior to the date of the Royalty Agreement is excluded from the royalty due to the Partial Award. These areas host several historically identified mineral deposits including the North Bullfrog and Motherlode.
Altius interprets the Partial Award as providing a significant extension of its royalty rights in all directions in the Base AOI area, including several kilometers along the northwest and northeast trend extensions that it believes represent significant geological control over mining at Silicon and Merlin. , and extensive areas within the southern region of the Base AOI that have seen limited testing to date.
Upon receipt of the final award, Altius will provide a detailed update to shareholders detailing the precise and complete areas of its royalty.
1Readers should be cautioned that the Partial Award is still under review by Altius and its legal advisors and certain portions remain open to further interpretation. Further, given the nature of the Partial Award, the Tribunal retains the power and authority to clarify, revise or amend any part of the Partial Award and until its final award is rendered limited reliance should be placed on it.
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About Altius
Altius’ strategy is to create per share growth through a diversified portfolio of royalties associated with long-life, high-yielding performance. The strategy also provides shareholders with exposure to the world’s growth trends related to sustainability including the shift from fossil fuels to renewables, electrification of transportation, reductions in emissions from steel production and increased agricultural yield requirements. Each of these major trends has the potential to cause increased demand for Altius’ many asset exposures including copper, renewable energy, several key battery metals (lithium, nickel and cobalt), pure iron, and potash. In addition, Altius operates a successful Project Generation business that develops mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 46,290,608 issued and outstanding common shares listed on the Toronto Stock Exchange of Canada. It is a member of both the S&P/TSX Small Cap and the S&P/TSX Global Mining Indices.
View the source version at businesswire.com: https://www.businesswire.com/news/home/20250110641221/en/
Contacts
For more information:
Chad Wells
Email: Cwells@altiusminerals.com
Phone: 1.877.576.2209
Flora Wood
Email: Fwood@altiusminerals.com
Phone: 1.877.576.2209
Direct: 1.416.346.9020
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