Altius

Voyageur Nickel Project (Michigan, USA)

In 2015, Altius completed an agreement with Bitterroot Resources to acquire the highly prospective Voyageur Property in Michigan to explore for high grade nickel deposits similar to Lundin Mining's Eagle Mine (4.8 Mt @ 3.5% Ni, 2.9% Cu, 1.5 g/t PGE + Au, NI 43-101 Reserves).

Voyageur Nickel Project

The Voyageur Nickel project consists of 648km2 of freehold mineral rights located in Michigan's Upper Peninsula where previous exploration for magmatic nickel sulfides was limited and focused on specific targets without the benefit of a thorough regional systematic assessment. Altius has recently undertook a systematic compilation and evaluation of the project area as well as completing a VTEM Plus geophysical survey to provide the first significant coverage of the project area with a high resolution TDEM survey. This recent work has already identified numerous geophysical targets that require drill testing and has also lead to a significant reinterpretation of the geology and nickel exploration potential of the project.

The Voyageur lands are located within the emerging Mid-Continent Rift (MCR) Nickel Province that hosts Lundin Mining's Eagle deposit (4.8 Mt @ 3.5% Ni, 2.9% Cu, 1.5 g/t PGE + Au, NI 43-101 Reserves). Production began at Eagle in 2014 while exploration in other parts of the MCR has resulted in discoveries of massive nickel rich sulphides at Tamarack, MN and Thunder Bay North, ON, as well as very large low grade disseminated sulphide deposits in the Duluth Complex. Additional exploration in 2015 in the MCR was highlighted by the discovery of new mineralization at Eagle East, 1km east of Eagle, where a drill intercept of 30.85m @ 5.23% Ni, 8.74%Cu was reported. And at Tamarack where new drilling intersected 9.88m @ 7.68% Ni, 4.59%Cu, 2.95 g/t PGE+Au. Altius will be seeking a partner to advance this highly prospective exploration opportunity in this emerging nickel district once the ongoing comprehensive assessment has been completed, which is expected by mid 2016.

For further detailed technical information please contact Chad Wells at cwells@altiusminerals.com.

Bob Patey, P.Geo., Project Geologist, is the qualified person as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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