PARAGON MINERALS CORPORATION

In December 2006 Altius consummated it participation in a private placement financing of Paragon Minerals Corporation. Paragon is the recent spin out of the Newfoundland Division (people and projects) of Rubicon Minerals which has been an active mineral explorer in Newfoundland since 1996. Altius was pleased to be a participant in the formation of Paragon. The exploration team that has been assembled under Garfield MacVeigh has proven itself in central Newfoundland over the past several years with an impressive track record of gold and base metal discoveries.

Altius is an approximately 17% shareholder of Paragon and has an active joint venture partnership on the South Tally Pond property in Central Newfoundland.

Paragon is listed on the TSX Venture exchange under the symbol PGR. For more information regarding Paragon and its 2007 exploration plans please visit their corporate website at www.paragonminerals.com.