Corporate Overview

Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. Altius has a strong financial position with total assets of approximately $300 million, including $175 million in cash and marketable securities. It has also built a portfolio of directly and indirectly held junior resource investments, including 32.9 million shares of Alderon Resource Corp. (ADV:TSX).

Altius owns an effective 0.3% net smelter return royalty on the producing Voisey’s Bay nickel-copper-cobalt mine, a 2% gross sales royalty on uranium in the Central Mineral Belt project of Paladin Energy Limited, a 3% gross sales royalty on the Kami iron ore project of Alderon and several earlier stage resource project royalties. Its growing project generation pipeline consists of a diversified portfolio of exploration projects, many of which it have attracted joint venture funding partners.
 
Altius is a member of the S&P/TSX Global Mining Index and currently has 28,818,653 shares outstanding.

Since inception in 1997, our business model and operating philosophy have consistently delivered increased value for shareholders of Altius through cyclical market conditions. The company has built a solid reputation around its percentage of successful mineral project generation initiatives that it intends to further build upon.

Going forward Altius will grow its exploration business through its organic project generation in eastern Canada and exportation of its proven exploration model to other choice jurisdictions.  Altius is also reviewing an increasing number of larger-scale investments opportunities to prudently deploy its capital in the acquisition of minority and non-operating project or equity interests and/or royalty interests in the minerals sector.  In fiscal 2011, Altius generated net earnings of $70 million and increased its net assets to in excess of $300 million. Market performance was positive, with a 30% increase in share price year over year, reflecting the strong balance sheet and asset depth of the Company. Most importantly, Altius successfully deployed the complementary strategies that we have developed over the past 14 years, making investments and entering strategic agreements that we believe will generate substantial profits for shareholders well into the future.

There are many reasons to be optimistic about the future of Altius, for exposure to its proven mineral exploration business strategy and its expanded mandate to seek out strategic investment opportunities in the minerals business.

Business Strategy

Altius' business model is simple and has been implemented as an effective means of managing risk. It involves a small team of people that conceptualize and innovate mineral resource related opportunities, invest in their initiation and development and, when successful, form businesses or partnerships around these opportunities. The model has worked well by allowing exposure to multiple opportunities while minimizing negative impacts to the capital structure of the company.

Altius commitment to grassroots project generation is stronger than ever with 10 active mineral exploration partnerships and/or alliance covering prospective projects for gold, base metals, nickel, uranium, rare earth elements, and iron ore in eastern Canada. The Company’s exploration business is also expanding its project generation mandate to other prospective jurisdictions outside of eastern Canada. Considering its financial strength and proven business approach, Altius views the general lack of early-stage generative exploration in the sector has an opportune time for Altius to expand its exploration focus into other prospective jurisdictions.

Although, Altius' financial capability has grown considerably in its 14 years of business it remains committed to managing risk and exercising financial discipline.  Altius is continually reviewing royalty-like  investment opportunities to prudently deploy its capital.

Captial Structure

Financial discipline and protection of capital structure are enduring hallmarks of Altius business plan and serves as the platform for the continued growth. Even after 14 years of business, Altius still has only 28.9 million shares outstanding, yet it has built its financial position in cash (~$175 million) and liquid investments to approximately $300 million and no debt.  The Company also has a consistent long-term revenue stream from the Vosiey's Bay royalty making it fully financed internally for the next several decades.

Officers and directors of the company hold more than 10% of the issued shares, providing powerful incentive to those at the helm to continue to enhance the shareholder value of the business. The Company also has an active Normal Course Issuer Bid ("NCIB") or Share Buyback program. The reason for the bid is that when the market price of Altius shares is trading below the fundamental value of Altius, based on anticipated cash flows and underlying asset values, the acquisition of common shares under the bid represents an appropriate use of funds.

As of December 8, 2011
*Issued shares:	28,904,753
Options:	732,000
Fully Diluted:	29,636,753
Cusip #:	020936