Altius Minerals Corporation

Altius Minerals Corporation

December 22, 2006 13:56 ET

Altius Resources Inc. Announces Filing of Early Warning Report

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Dec. 22, 2006) - Altius Resources Inc. ("Altius"), a wholly owned subsidiary of Altius Minerals Corporation (TSX VENTURE:ALS), reports that it has filed an early warning report dated December 20, 2006 (the "Report") advising of its holdings in Paragon Minerals Corporation ("Paragon"), a company formed effective December 8, 2006 by the Plan of Arrangement of Rubicon Minerals Corporation, as more particularly described in a news release of Paragon dated December 11, 2006.

As a result of a private placement, Altius received 2,500,000 shares of Paragon at $0.60 per share, and 800,000 units at $0.50 per unit. Each unit consists of one common share and one share purchase warrant with an exercise price of $1.00 and an expiry date of two years. Altius also acquired 250,000 common shares at a deemed price of $0.60 per share pursuant to a property option agreement with Paragon. These securities represent 17.4% of the issued and outstanding common shares of Paragon.

Altius may acquire further securities of Paragon in the future.

Contact Information

  • Altius Resources Inc.
    Brian Dalton