ALBA MINERAL RESOURCES PLC

Scandinavia Nickel Royalty

Altius is also exploring for Voisey's Bay type nickel-copper-cobalt deposits beyond Labrador in prospective regions of Scandinavia in association with Aurum Mineral Resources Limited and Alba Mineral Resources Plc, whereby Altius will be entitled to a royalty on new nickel projects generated by the partnership.

In exchange for the royalties Altius has subscribed for 1,250,000 of new ordinary shares of Alba at 8 pence per share for a total price of £100,000 and has been granted a warrant to purchase 937,500 shares at 9 pence any date from the date of issue to April 04, 2015. The funds will be utilized to conduct exploration for nickel deposits in certain areas in Norway, Sweden and Finland with a focus on Voisey's Bay-type targets. Altius will be granted a 1.5% royalty based on the gross sales proceeds of any minerals that are discovered by Alba as a result of the exploration funded by the placing proceeds.