ADIA RESOURCES - Lynx Diamond Project (Manitoba, Canada)
In late 2018 Altius incorporated a private company, Adia Resources Inc. (“Adia”), for the purpose of accelerating the ongoing exploration and advancement of the Lynx Diamond Project (the “Project”), the first discovery of diamonds in Manitoba.
The option held by Altius to earn a 100% interest in the Project has been assigned to Adia in exchange for 5,000,000 common shares of Adia. In addition, Altius will retain a 2.5% gross overriding royalty on diamond proceeds from the Project, which will be effective subject to the buyback of other underlying royalties, a right which Altius will retain.
Adia has since raised in excess of $3.5 million in funding and undertook a preliminary drill program during the winter of 2019. Result of the program are anticipated later in 2019. For additional information regarding the Lynx project and Aida please visit their website at https://www.adiaresources.com/.
The Lynx Project comprises a 164,000+ hectare land package and is host to the first discovery of diamonds in bedrock within the province of Manitoba. Surface sampling has identified multiple kilometer-scale diamondiferous Archean ultramafic units. Altius is the largest shareholder, with De Beers Canada Inc. being another "strategic" shareholder. Adia has an agreement in place with De Beers Canada Inc. for providing in-kind services and support to Adia in the form of specialized diamond exploration services for the Lynx Project. Adia also has an Exploration Agreement with the Bunibonibee Cree Nation of Oxford House, who are supportive of this program and with whom Adia has developed a positive working relationship.
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 material. Field work and sampling was supervised by Jeff Morgan, B.Sc., P.Geo., Exploration Manager for Altius.