December 18, 2009 14:22 ET
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Dec. 18, 2009) - Altius Minerals Corporation ("Altius") (TSX:ALS) announced today that it has amended the Schedule 13-D previously filed with respect to its 8,924,972 common shares of International Royalty Corporation ("IRC") with the US Securities and Exchange Commission ("SEC"). With the filing of that amendment, Altius confirmed that on December 17, 2009, it entered into a Lock-Up Agreement with Royal Gold, Inc. ("Royal Gold"). Such agreement requires Altius, through its direct wholly-owned subsidiary Altius Resources Inc., to support the acquisition by Royal Gold of IRC by way of an arrangement or other alternative transaction, including by voting its common shares of IRC in favor of the arrangement or other transaction. The effectiveness of the Lock-Up Agreement was contingent on Royal Gold and IRC entering into an arrangement agreement, which was announced earlier today. The Lock-Up Agreement may be terminated by the parties under certain circumstances, including by Altius in the event that a superior bid for IRC is made by a third party. Royal Gold has the right to match any superior bid. A copy of the Lock-Up Agreement is attached as Exhibit 2 to the Schedule 13D-A filed with the SEC or is available at the Altius website at http://www.altiusminerals.com/files/13d-sec-ALS-dec18-09.pdf.
Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. The Corporation has a strong financial position with approximately $132 million in cash and liquid investments and no debt. Altius owns an effective 0.3% net smelter return in the producing Voisey's Bay nickel-copper-cobalt mine located in Labrador, Canada and has numerous active mineral exploration agreements principally in eastern Canada targeting a variety of mineral commodities. In addition, the Corporation holds 9.4% investment stake in International Royalty Corporation. Altius is a member of the TSX SmallCap index and currently has 28,319,895 shares outstanding.
Altius Minerals CorporationChad Wells1-877-576-2209
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