CENTRAL MINERAL BELT URANIUM - AURORA ENERGY
In early 2003, Altius and Fronteer Development Group formed a "strategic alliance" to jointly evaluate and explore a large portion of central Labrador (Central Mineral Belt "CMB") for Uranium-rich Iron-Oxide Copper-Gold deposits.
As part of a longer-term business strategy the alliance was optimally restructured in June 2005 to create a new special purpose company, Aurora Energy Resources Inc., to own and fund the next phases of exploration. In March 2006 Aurora successfully completed a $25 million initial public offering ("IPO") and commenced trading on the TSX exchange under the symbol AXU. Altius believes that a dedicated "pure" uranium company with premium uranium assets will ensure Altius' shareholding in Aurora captures the maximum value of these assets.
Altius maintains an underlying 2% gross uranium sales royalty and a 2% net smelter return royalty on base and precious metals that are produced from Aurora's projects.
Exploration Overview
Aurora has been focused on a comprehensive exploration/development program in the CMB over the past two years. The ongoing program has been consistently expanding uranium resources at the Michelin and Jacques Lake deposits as well as identifying new uranium prospects throughout the CMB district. For further information regarding results to date and the ongoing exploration and mine development planning please visit www.aurora-energy.ca