Altius Minerals Corporation

Altius Minerals Corporation

February 23, 2010 08:42 ET

Altius to Receive Proceeds Worth Approximately $61.8 Million

Investment in International Royalty Corporation delivers $27 million gain to Altius

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 23, 2010) - Altius Minerals Corporation (TSX:ALS) announces that as part of the recently completed Plan of Arrangement between International Royalty Corporation ("IRC") and Royal Gold Inc. ("Royal Gold"), Altius will receive CAD $37.5 million in cash and 529,251 Royal Gold exchangeable shares for its 8,924,972 shares of IRC. The expected gross proceeds to Altius are approximately CAD $61.8 million based on yesterday's closing Royal Gold share price of CAD $45.92. Upon receipt of the cash and share consideration as outlined above, Altius will recognize a gain of approximately CAD $27 million, which is a 78% return on its original investment.

In July 2009, Altius increased its shareholding in IRC to approximately 9.4% and in December 2009 it entered into a Lock-Up Agreement with Royal Gold to support Royal Gold's acquisition of IRC.

About Altius
Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. The Corporation has a strong financial position with approximately $132 million in cash and liquid investment and no debt. Altius owns an effective 0.3% net smelter return in the producing Voisey's Bay nickel-copper-cobalt mine located in Labrador, Canada and has numerous active mineral exploration agreements principally in eastern Canada targeting a variety of mineral commodities. Altius is a member of the TSX SmallCap index and currently has 28,438,895 shares outstanding.

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