Altius Minerals Corporation
TSX : ALS

Altius Minerals Corporation

December 13, 2007 15:45 ET

Altius Minerals Corporation Reports Second Quarter Net Earnings of $37.8 Million

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Dec. 13, 2007) - Altius Minerals Corporation (TSX:ALS) ("Altius" or the "Company") reported net earnings of $37.8 million or $1.28 diluted earnings per share for the quarter ended October 31, 2007, compared to net earnings of $24.4 million or $0.83 diluted earnings per share for the same period last year.

A summary of the unaudited financial results is included in the following table.



(in thousands of dollars, except per share amounts)

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Three Months Ended Six Months Ended
October 31 October 31
2007 2006 2007 2006
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$ $ $ $

Revenue 3,049 1,420 5,696 2,128
Net earnings 37,799 24,439 53,497 24,567
Net earnings per
share
- basic 1.31 0.85 1.85 0.85
- diluted 1.28 0.83 1.81 0.84
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The Company realized gains on disposals from the sale of investments of $45.4 million, primarily from the sale of 3.25 million shares of Aurora Energy Resources Inc. The Company's financial performance in the quarter was also supported by $1.4 million in royalty revenue from its interest in the Labrador Nickel Royalty Limited Partnership, which provides the Corporation with an effective 0.3% net smelter return royalty in the Voisey's Bay nickel-cobalt-copper mine, and from interest income of $1.6 million.

The consolidated financial statements for the period ending October 31, 2007 and Management's Discussion and Analysis of the Company's financial results and activities are available on SEDAR and at www.altiusminerals.com.

Altius Minerals Corporation's principal business activities include the generation and acquisition of projects related to natural resources opportunities mainly located in Newfoundland & Labrador.

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