Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) expects to
report Q1 2023 attributable royalty revenue of $21.4 million, detailed as follows:
Royalty Revenue Summary
Summary of attributable royalty revenue
(in thousands of Canadian dollars) Q1 2023 Q4 2022 Q1 2022
Potash $ 9,032 $ 9,816 $ 9,903
Base & battery metals 4,869 4,702 9,960
Iron ore (1)
1,870 2,618 1,437
Thermal (electrical) coal 3,002 3,774 3,113
Renewable energy 1,345 1,171 772
Other 1,275 1,041 307
Attributable royalty revenue $ 21,393 $ 23,122 $ 25,492
See non- GAAP financial measures section of our MD&A for definition and reconciliation of attributable royalty revenue
(1) Labrador Iron Ore Royalty Corporation dividends received
Potash portfolio revenue during the quarter was $9.0 million, which compares to $9.9 million in the first
quarter of 2022, reflecting lower average realized prices and similar attributable portfolio production
volumes.
Base and battery metal (primarily copper) revenue of $4.9 million was similar to the prior quarter but
lower than the year ago comparable quarter based mainly upon the scheduled closure of the 777 mine in
Q2 of 2022 and lower revenue from Chapada, which was enhanced by the timing of sales in the
comparable prior year quarterly period.
Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF
Iron ore revenue in the form of dividends from Labrador Iron Ore Royalty Corp., which serves as a passthrough vehicle for royalty income and equity dividends related to the operations of Iron Ore Company of
Canada (IOC), was $1.9 million, as compared with Q1 2022 iron ore revenue of $1.4 million. The increase
related to a higher share ownership level while both the current and comparable period quarters were
impacted by increased levels of sustaining and growth capital investments that limited IOC equity
dividends.
Thermal (electrical) coal revenue of $3.0 million during the current quarter compared to $3.1 million during
the first quarter of last year on lower attributable production volumes at the Genesee Mine that were offset
by a higher inflation-linked royalty rate.
Renewable energy proportionate royalty revenue of $1.3 million compares to $772,000 recorded in the
same period last year. This relates to consolidation of the Corporation's 58% interest in Altius Renewable
Royalties Corp., which continues to experience royalty revenue ramp up as additional projects subject to
royalty enter production and as recent operating stage royalty acquisitions are incorporated into its
portfolio.
First Quarter 2023 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 May 8, 2023 after the close of market with a
conference call to follow on May 9, 2023.
Date: May 9, 2023
Time: 9:30 AM ET
Toll Free Dial-In Number: (+1) 888 396 8049
International Dial-In Number: (+1) 416 764 8646
Conference Call Title and ID: Altius Q1 2023 Results, ID 50613738
Webcast Link: Q1 2023 Financial Results

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https://altiusminerals.com/storage/press-releases/q1-2023-royalty-revenue-final-1681911774.pdf