NATASHQUAN PGE PROJECT

Altius owns 100% interest in 414 claims (103.5 square kilometers) near Natashquan River in southern Labrador where outcrop samples reported by Geological Survey of Canada (2001) returned values of 0.93 g/t palladium 0.19 g/t platinum and 0.25 g/t gold (1.37 g/t combined). Reconnaissance exploration carried out by industry during 2003 and 2004 returned higher values of 2.36 g/t and 2.82 g/t combined palladium, platinum and gold.

The property lies within the Interior Magmatic Belt of the Northeastern Grenville Province and is underlain by variably deformed and metamorphosed intrusive rock consisting of gabbronorite, gabbro, leucogabbro and minor ultramafic rocks inferred to belong to the Mealy Mountain Terrane (James et al., 2002).

Reconnaissance prospecting by Altius confirmed a large area of layered gabbro and ultramafic rocks that are considered to offer a prospective environment for platinum and palladium mineralization.

An airborne EM-Mag survey is planned for 2008.