KAMISTAITUSSETT IRON ORE PROJECT

The Kamistaitusset property located in western Labrador is approximately 2,125 hectares in size and was staked by Altius in 2004 on the basis of known iron ore prospects in a well-established iron ore mining district. The property features five iron ore prospects that were discovered by Labrador Mining and Exploration Company (LM&E) in the late 1940's and 1950's.

The property area is underlain by units of the Lower Proterozoic Knob Lake Group of the Labrador Trough including the Sokoman Formation, which hosts all of the current and past producers of iron ore within the district.

During 2007 Altius carried out reconnaissance exploration, geological mapping, line cutting and a high-resolution airborne magnetics survey on the property. Geological mapping verified the known areas of iron mineralization and also identified new prospects within a favourable structural setting.

The 2008 exploration program is planned to include additional line cutting, ground geophysical surveys, a 3D geological and geophysical inversion model and a minimum 5000m diamond drilling program.

Altius recently announced that it signed an agreement with Norvista Resources Corporation to work cooperatively towards creating a publicly traded company to focus on the western Labrador iron ore mining district.

The agreement will be for a one year term and if successful will result in an IPO of a new "pure" iron ore company. Norvista and Altius will own equal interests in the new company at the time of the IPO and Altius will retain an underlying 3% gross sales royalty with respect to the Project.

Altius is very pleased to have the opportunity to work with Norvista on this initiative given the successful track record of the principals in numerous mineral ventures. For further information please see News Release PR08-08.

About Norvista
Norvista Resources Corporation is a private resource company based in Toronto, Canada, with a mandate to develop mineral properties in Canada and major mining regions in the Americas. Through acquisitions, earn-in options and joint ventures, Norvista assists its partners in financing and advancing mineral properties and mine projects to deliver capital appreciation to its shareholders. Norvista was founded by Gerry McCarvill and Doug Bache and the company's directors include Brian Tobin and Tony Wonnacott.