Altius Minerals Corporation

Altius Minerals Corporation

November 21, 2006 12:00 ET

Altius Acquires New Uranium and Nickel Projects in Labrador, Canada

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Nov. 21, 2006) - Altius (TSX VENTURE:ALS) has recently staked three uranium exploration properties in central Labrador as well as a new property in the Voisey's Bay nickel district.

The Notakwanon property is centered on a cluster of uranium showings that are locally accompanied by hematite alteration and uranium stain. A best assay of 1.81% U3O8 was reported from a grab sample taken by provincial government geologists during a regional mapping project in 1982. Altius staked a total of 463 square kilometres and will be the first to undertake uranium exploration in the area.

The Nuiklavik property has not previously been explored for uranium but initial reconnaissance prospecting by Altius has identified anomalous uranium values. The exploration target is a volcanic-hosted uranium deposit and the Altius claim group overlies a 200 square kilometre caldera or volcanic field that is unique in Labrador.

The White Bear property covers 90 square kilometers and is located east of Aurora's properties in central Labrador. Aurora has the right to acquire the property within a limited time as it lies within a previously agreed mutual area of interest.

Altius also recently staked 53 square kilometres in the Voisey's Bay nickel district. The claims are located about 10-15 kilometres south of the Voisey's Bay deposits in an area recently opened for staking. The contact zone between the Nain Plutonic Suite and the Tasiuyak Gneiss underlies the claim group.

The new properties are 100% owned by Altius with no underlying third-party royalties and reflect Altius' strategy of generating new exploration projects and advancing them in concert with joint venture partners or through the creation of strategic equity stakes.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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