ALTIUS MINERALS CORPORATION

Altius reported to have received metallurgical results from a test program of the beneficiation characteristics of magnetite-rich iron formation from the Kamistiatusset iron ore project in Labrador. Previous drilling highlights include 31.65% iron over 100.3 metres. The mini-bulk sample yielded 31.0% iron with 19.1% iron in magnetite (Satmagan) in the head assay and a high proportion of the iron is potentially recoverable as iron oxides. QEMSCAN™ work has identified approximately 97% of the total iron occurring as an oxide (magnetite or hematite) and iron oxide liberation is very high throughout all the grind size fractions tested (below 425 microns), meaning a high proportion of the iron can potentially be recovered in a concentrate.