Altius

Gunnison Copper Royalty (Arizona, USA)

Altius holds a 1.625% GRR on the Gunnison Copper project in Arizona being advanced by Excelsior Mining Corp. This royalty was originally acquired by Callinan in 2013 as part of a royalty and equity financing of the Company.

Excelsior is currently constructing the project and is fully financed to production. Details of the project economics and the construction progress is available at https://www.excelsiormining.com/project.

Roderick Smith, P.Geo., Chief Geologist, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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