Altius to Acquire Additional Potash Royalty Interests from Liberty Metals & Mining Holdings, LLC for C$65 Million

ST. JOHN’S, Newfoundland and Labrador–(BUSINESS WIRE)–Altius Minerals Corporation (“Altius”) is pleased to announce that
together with a private third party it has agreed to purchase an
additional 44.9% interest in Potash Royalty Limited Partnership (“Potash
Royalties”) from Liberty Metals & Mining Holdings, LLC for total cash
consideration of C$75 million plus nominal price adjustments. Of this
amount, Altius will pay C$65 million to bring its total interest in
Potash Royalties to 91.3%, from its current 52.4% interest.

Potash Royalties generates royalty revenue from six producing potash
mines located in Saskatchewan, Canada including Nutrien’s Rocanville,
Vanscoy, Allan, Cory and Patience Lake mines and The Mosaic Company’s
Esterhazy mine.

At current throughput rates these assets have an estimated average
remaining mine-life of 49 years using reserves and resources and not
including considerable inferred resources and additional exploration
potential. Following recent major capacity expansions, the mines have
the collective potential to almost double production throughput before
reaching their nameplate capacities. Global potash demand continues to
grow steadily, achieving a new record level last year, while prices
appear to have recently begun to rebound from cyclical lows.

Financing for the transaction will be sourced from Altius’s existing
balance sheet liquidity, which consists of approximately C$130 million
in cash and unused revolving credit facilities. It is anticipated that
the transaction will close on or before March 31, 2018, subject to
satisfaction of customary closing conditions.

Brian Dalton, President and CEO of Altius commented: “Royalties such as
these are rare and exceptional. This acquisition increases Altius’s
exposure to the world’s premiere potash mines and to some of the best
free long-term optionality to be found anywhere in the overall resource
royalty sector. We are delighted to increase our ownership at this
particularly opportune point in the life-cycle of these mines.”

Scotiabank is acting as financial adviser to Altius in relation to this
transaction.

About Altius
Altius directly and indirectly holds
diversified royalties and streams that generate revenue from 15
operating mines. These are located in Canada and Brazil and produce
copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical)
and metallurgical coal. The portfolio also includes numerous
pre‐development stage royalties covering a wide spectrum of mineral
commodities and jurisdictions. In addition, Altius’s Project Generation
business holds a large portfolio of exploration stage projects which it
has generated for deal making with industry partners that results in
newly created royalties and equity and minority interests.

Altius has 43,215,026 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.

Contacts

Altius
Flora Wood, 1-877-576-2209
[email protected]