Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to
report Q3 2022 annual attributable royalty revenue of $26.4 million, which compares to $20.8 million of
attributable royalty revenue recorded in Q3 2021. On a nine-month basis, attributable royalty revenue of
$80.5 million in 2022 compares to $60.5 million during the comparable period in 2021.
Royalty Revenue Summary
Summary of attributable royalty revenue
(in thousands of Canadian dollars) Q3 2022 Q2 2022 Q3 2021
Potash $ 10,276 $ 11,450 $ 3,788
Base & battery metals 5,779 8,315 8,216
Iron ore (1)
3,740 2,871 6,035
Thermal (electrical) coal 3,768 4,520 2,562
Renew able energy and other 2,859 1,466 207
Attributable royalty revenue $ 26,422 $ 28,622 $ 20,808
See non-GAAP financial measures section of our M D&A for definition and reconciliation of attributable royalty revenue
(1) Labrador Iron Ore Royalty Corporation dividends received
Potash portfolio revenue during the quarter was $10.3 million, which compares to $3.8 million in the
comparable quarter of 2021, reflecting significantly higher average realized prices. On a year-to-date basis,
potash revenue of $31.6 million exceeds the $12.4 million in revenue reported for the comparable period in
2021 due to higher attributable production volumes and significantly higher average realized pricing.
Base and battery metal (primarily copper) revenue of $5.8 million for the quarter compares to $8.2 million
reported for the third quarter of 2021 due primarily to the scheduled closure of the 777 mine and lower
realized prices but partially offset by higher Chapada production volumes. Year to date revenue of $24.1
million compares to $25.2 million for the same period in 2021.

Iron ore revenue in the form of dividends from Labrador Iron Ore Royalty Corp. (LIORC) was $3.7 million
compared to $6.0 million in Q3 2021 due to higher sustaining and growth capital spending and lower
declared dividends by the Iron Ore Company of Canada (IOC). Year to date revenue of $8.0 million
compares to $13.9 million over the same period last year. The Corporation added an additional 550,000
shares to its LIORC position during the quarter. LIORC serves as a pass-through vehicle for IOC productionbased royalty revenues and equity dividends.
Thermal (electrical) coal revenue of $3.8 million during the current quarter compared to $2.6 million during
the third quarter of last year on slightly higher attributable royalty volumes as well as a higher inflationbased royalty rate, as described in the Q2 2022 MD&A. Nine month revenue in 2022 of $11.4 million
compares to $7.6 million in 2021 mainly due to increased power plant utilization at Genesee.
Renewable energy and other royalty revenue included approximately $2.0 million related to the
Corporation’s 59% interest in Altius Renewable Royalties Corp. (ARR: TSX), compared to $0.02 million in
the same quarter last year. The difference relates to the addition of new operating stage royalty projects as
well as stronger merchant power prices in the current year.
Third Quarter 2022 Financial Results Conference Call and Webcast Details
Additional details relating to individual royalty performances and asset level developments will be provided
with the release of full financial results, which will occur on November 9, 2022 after the close of market with
a conference call to follow on November 10, 2022.
Date: November 10, 2022
Time: 9:00 AM ET
Toll Free Dial-In Number: (+1) 888 396 8049
International Dial-In Number: (+1) 416 764 8646

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https://altiusminerals.com/storage/press-releases/q3-2022-royalty-revenue-final-1666094338.pdf