Altius Minerals Corporation

Altius Minerals Corporation

March 08, 2005 14:18 ET

Altius Closes Sale of Rambler Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ALTIUS MINERALS CORPORATION

TSX VENTURE SYMBOL: ALS

MARCH 8, 2005 - 14:18 ET

Altius Closes Sale of Rambler Project

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - March 8, 2005) -
Altius Minerals Corporation (TSX VENTURE:ALS) is pleased to announce
that it has closed the sale of its interest in the Rambler copper-gold
project to Rambler Mines Limited ("Rambler Mines"), the terms of which
were announced in its news release of February 23, 2005.

In connection with the closing, the purchaser was granted an option to
purchase 100,000 Altius common shares at $3.90, expiring November 1,
2005, in order that the purchaser may make at that time, at its
election, the final share payment due by Altius under its option from
the underlying property owner.

The purchaser is a newly formed company that will be seeking the
admission of its share capital to the AIM Market of the London Stock
Exchange ("AIM") under the name Rambler Metals & Mining PLC, in
conjunction with a fundraising to raise up to 8 million pounds sterling
(approximately C$18.5 million).

The agreement has been structured such that Altius will own
approximately one third of the issued shares of Rambler PLC following
the company's admission to AIM and the fundraising. The fundraising will
proceed forthwith.

The founders of Rambler PLC include Harry Dobson and Brian Hinchcliffe,
who are also founders and principals of Kirkland Lake Gold Inc.
(TSX:KGI).

The initial exploration program, to be field managed by Altius, will be
a 28,000 metre drilling campaign, using two drills. The program is
expected to commence immediately after successful completion of
Rambler's admission to AIM.

Altius Minerals Corporation (http://www.altiusminerals.com/) has a
royalty interest in the Voisey's Bay nickel district in Labrador,
Canada, from which first production is expected to occur this year.

Altius also has a diverse portfolio of exploration projects, many of
which, are being advanced through agreements with select industry
partners.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Altius Minerals Corporation
    Brian Dalton
    Toll Free: 1-877-576-2209
    or
    Altius Minerals Corporation
    Chad Wells
    Toll Free: 1-877-576-2209
    (709) 576-3441 (FAX)
    Email: info@altiusminerals.com
    Website: www.altiusminerals.com
    The TSXV has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.