ST. JOHN-S, NEWFOUNDLAND AND LABRADOR — (Marketwire) — 03/08/12 — Altius Minerals Corporation („Altius“) (TSX: ALS) reported net earnings attributable to common shareholders of $2,461,000 or $0.08 per share for the three months ended January 31, 2012 compared to net earnings of $69,212,000 for the same period last year. The current quarter-s earnings include revenue of $5,805,000, consisting of royalty revenue of $1,192,000 and $3,941,000 in share payments received from earn-in partners during the quarter. The previous year-s earnings included a pre-tax gain of $84,675,000 recorded on the sale of the Corporation-s Kami property to Alderon Iron Ore Corporation.
A summary of the unaudited financial results is included in the following table.
The Corporation saw significant progress on its wholly owned and partner-funded project interests during the quarter, particularly in the Labrador West iron ore mining district. Additional information on the Corporation-s results of operations is included in the Corporation-s MD&A and Unaudited Financial Statements, which were filed on SEDAR today and are also available on the Company-s website at .
About Altius
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. (TSX: ADV).
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 28,759,675 shares outstanding.
Contacts: Altius Minerals Corporation Ben Lewis 1.877.576.2209 709.576.3441 (FAX)
Altius Minerals Corporation Chad Wells 1.877.576.2209 709.576.3441 (FAX)
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