Altius Minerals Corporation
TSX VENTURE : ALS

Altius Minerals Corporation

November 20, 2006 15:03 ET

Altius Increases Cash Position With Reduced Stake in Aurora

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Nov. 20, 2006) - Altius (TSX VENTURE:ALS) reports that it recently reduced its equity interest in Aurora Energy Resources Inc. (TSX:AXU). Altius has sold 2,536,527 shares for gross proceeds of approximately C$33.3 million and it retains 6,559,911 shares.

Altius' retained shareholding has a current market value of approximately C$88 million. This ownership level represents a more appropriate balance of assets within Altius.

Altius co-founded Aurora in 2005 and it is pleased with the progress and success of its exploration programs in central Labrador. Altius remains one of the largest shareholders of Aurora.

In addition to its large shareholding in Aurora, Altius owns a 2% gross sales royalty over all sales of uranium or uranium products and a 2% net smelter return royalty over base and precious metals production, which royalties apply to all of Aurora's properties in Labrador.

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

Contact Information

  • Altius Minerals Corporation
    Brian Dalton
    Toll Free: 1-877-576-2209
    (709) 576-3441 (FAX)
    or
    Altius Minerals Corporation
    Chad Wells
    Toll Free: 1-877-576-2209
    (709) 576-3441 (FAX)
    Email: info@altiusminerals.com
    Website: www.altiusminerals.com