TMCnet News
Altius Provides 1st Quarter 2018 Project Generation UpdateAltius Minerals Corporation ("Altius") (ALS:TSX) is pleased to update its Project Generation ("PG") business activities and its public junior equities portfolio. The market value of the junior equities portfolio at the close of trading April 23, 2018 was $52.9 million. This value includes an increased shareholding in Alderon Iron Ore Corp. (IRON:TSX), as detailed in a press release dated March 23, 2018. It does not include a $10 million debenture that is convertible into Champion Iron Ore shares, various in-the-money share purchase warrants or other equities to be received in exchange for announced project transactions that remain subject to final closing. An updated list of the public equity holdings has been posted to the Altius website at http://altiusminerals.com/projects/junior-equities.
Project Updates and New Agreements Aethon Minerals Corporation (AET:TSX-V) ("Aethon") is expected to begin trading in the first week of May. Aethon was created when Altius vended a portfolio of copper-gold projects to Watusi Capital Corp. As a condition of the transaction, Aethon raised $7.7 million via a non-brokered private placement led by Sprott Capital Partners and affiliates. A news release detailing the completion of the transaction can be viewed at http://www.aethonminerals.com. Following the transaction Altius will hold or control approximately 19.9% of Aethon and a 2% gross sales royalty covering its current portfolio of projects. A Letter of Intent has been executed to vend the Sail Pond silver-copper-lead-zinc project, located in northwestern Newfoundland, to New Found Gold Corp. ("NFG"). As consideration, Altius will receive 12 million common shares of NFG and will retain a 2% net smelter return ("NSR") royalty over the project. Other key conditions of the Letter of Intent include NFG listing its common shares on a recognized Canadian stock exchange and raising a minimum of $7.5 million via a private placement, of which Altius would invest a minimum of $1 million. A full summary of the deal terms are available at http://altiusminerals.com/uploads/2018-03-27-ALTIUS-LETTER-OF-INTENT-TO-SELL-SAIL-POND-PROJECT-.pdf. Altius has received 7,754,371 common shares of Sokoman Iron Corp. (SIC:TSX-V) as payment for its option of the Moosehead gold project in Central Newfoundland while retaining a 2% NSR royalty. A more detailed account of the transaction and project highlights can be viewed at http://www.sokomaniron.com/news.
Junior Equities Portfolio Highlights On April 4th, Wolfden Resources Corp. announced results from five of the 15 holes drilled in the current 10,000 metre exploration program at its Picket Mountain Project in Maine, with the highlight being an intercept of 7.9 metres grading 14.8% Zn, 5.7% Pb, 2.4% Cu, 187.3 g/t Ag & 1.3 g/t Au from hole PM-18-007. The intent of this program is to confirm and expand upon historical drilling done in the 1980s as Wolfden works to complete a qualified mineral resource estimate by year end. (See http://www.wolfdenresources.com/files/News-Apr4-2018.pdf) Lawrence Winter, Ph.D., P.Geo., Vice-President of Exploration for Altius, a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this release. More information on Altius projects can be found at www.altiusminerals.com.
About Altius Altius has 43,215,026 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
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