ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Jan. 18, 2013) - Altius Minerals Corporation (ALS.TO) is pleased to report that on January 16th, 2013 Alderon Iron Ore Corp. ("Alderon") (ADV.TO) filed its Feasibility Study Technical Report regarding its Kami Iron Ore Property in western Labrador. The report is available on SEDAR at www.sedar.com.
Altius is a co-founder of Alderon and owner of 32.9 million Alderon shares. In addition to its equity, Altius holds a 3% Gross Sales Royalty on Alderon's Kami iron ore property. Altius shareholders are encouraged to review the feasibility study inputs and results with particular note of Alderon's estimate of royalty payments that will be due to Altius, which is contained within section 22-4 of the report.
Altius wishes to extend congratulations to Alderon on achieving this significant milestone.
Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. Altius has a strong financial position with total assets of approximately $300 million, including $158 million in cash and marketable securities. It has also built a portfolio of directly and indirectly held junior resource investments, including 32.9 million shares of Alderon Iron Ore Corp. (ADV.TO).
Altius owns a 3% gross sales royalty on the Kami iron ore project of Alderon, an effective 0.3% net smelter return royalty on the producing Voisey's Bay nickel-copper-cobalt mine, a 2% gross sales royalty on uranium in the Central Mineral Belt project of Paladin Energy Limited, and several earlier stage resource project royalties. Its growing project generation pipeline consists of a diversified portfolio of exploration projects, many of which have attracted joint venture funding partners.
Altius is a member of the S&P/TSX Global Mining Index and currently has 28,257,564 shares outstanding.