Altius

Mining Equity Fund (Chile)

In late 2012 Altius entered into an agreement with Zeus Capital Inc. ("Zeus") of Santiago, Chile to establish a new initiative that will focus on investment in the generation of new early stage mineral exploration opportunities in Chile. Altius, Zeus and its investors will contribute a total of $7.1 million at various milestones over a 4 year period. Altius will own a 49% equity stake and a retained royalty interest in all projects generated by the venture. In addition to its portion of equity funding, Zeus has arranged up to $14 million in financing from the Chilean Government's Fenix Program initiative that is designed to support and nurture a domestic junior exploration sector in Chile.

The primary objective of the initiative has been to generate new prospects and seek earn-in/joint venture agreements with third parties or the creation of special purpose "spin out" companies. As of May 31, 2016, 16 projects have been assembled in Chile covering >130,000 hectares of prospective lands in productive metallogenic belts like the Arcas and Maricunga Projects (http://altiusminerals.com/projects/chile-arcas). The exploration work that generated this collection of properties in Chile focussed upon high sulphidation gold-silver systems with emphasis on grade and porphyry copper-gold systems with favorable economics.

Altius believes this partnership with Zeus is an excellent opportunity to expand its proven exploration business strategy beyond eastern Canada into this world class jurisdictions.

Lawrence Winter, P.Geo. and Diego Charchaflie, P.Geo., are the qualified persons as defined by NI 43-101 guidelines responsible for the technical data presented herein.

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