Altius Minerals Corporation (“Altius”) announced that Altius Royalty Corporation (“ARC”), a wholly-owned subsidiary of Altius, has completed the sale of a 1 percent NSR royalty covering the Silicon and Merlin gold deposit discoveries in Nevada to a wholly owned subsidiary of Franco-Nevada Corporation, pursuant to a royalty purchase agreement entered into by ARC and Franco-Nevada.

ARC will continue to hold a remaining 0.5 percent NSR royalty interest in Silicon (recently renamed to the Arthur Gold Project by AngloGold Ashanti plc (“AGA”) as a long-term component of its diversified portfolio.

The purchase price for the 1 percent NSR Silicon Royalty interest is US$275 million comprised of US$250 million in upfront cash paid at closing and a further payment of US$25 million in cash payable upon the conclusion of an ongoing arbitration process.

Cormark Securities Inc. is acting as financial advisor to Altius. Stikeman Elliott LLP is acting as legal counsel to Altius and ARC with a team that included Ivan Grbesic and John Lee, Kush Plaha (Corporate), John Lorito, Jill Winton (Tax), Lee Nicholson (Restructuring).

Torys acted as counsel to Franco-Nevada with a team that included Michael Amm, Braden Jebson, Michael Jason and Monique Murray (corporate/mining).