Altius Reports Royalty Revenue of $17.5M and $66.9M for the Quarter and Year Ended December 31, 2018 and Provides Revenue Guidance for 2019 of $67-$72M

Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius”
or the “Corporation”) reports that it will release audited financial
results for its three month and twelve month period ended December 31,
2018 on March 12, 2019 after the close of market, with a conference call
to follow March 13, 2019 at 9:00 am ET.

Altius expects to report attributable royalty revenue¹ of
approximately $17.5 million ($0.41 per share) for the fourth quarter of
2018, compared to $17.1 million ($0.40 per share) in Q3 2018 and to
$13.7 million ($0.32 per share) in the two month period ended December
31, 2017, when Altius was transitioning to a December year end. Full
year attributable royalty revenue is expected to be approximately $66.9
million ($1.56 per share) which compares to $46.7 million ($1.08 per
share) during the abbreviated previous year comparable period.

The results, which are consistent with the mid range of guidance, were
positively impacted by higher potash prices and production volumes and
higher metallurgical coal volumes. These factors were negatively offset
by the election of Labrador Iron Ore Royalty Corporation (LIORC) to
withhold an unusual amount of its free cash flows from shareholder
dividends during the second half of the year, and by lower base metal
prices.

Altius anticipates $67-72 million in attributable royalty revenue in
2019, which assumes current commodity prices and incorporates
information received from mine operators with regards to expected
production volumes where provided and assumptions based upon historical
production rates and other publicly available information in other cases.

At year end, the Corporation had approximately $28 million in cash, $115
million in debt, and $139 million in investments, which are primarily
the position in LIORC and the junior equity portfolio as detailed in the
press release dated January 10, 2019.

More detail on royalty revenue, costs and outlook will be provided in
the upcoming year end disclosure.

Year End Financials Conference Call and Webcast Information:

A conference call will be held on Wednesday, March 13, 2019, starting at
9:00 a.m. EST to further discuss the quarter and year end results and
guidance for 2019. To participate in the conference call, use the
following dial-in numbers or join the webcast on-line as detailed below.

Time: 9.00 a.m. EST on Wednesday, March 13, 2019
Dial-In
Numbers: +1 647-427-2311 (Direct), or 1-866-521-4909(US/Canada)
Pass
code: None required, but provide title of call
Conference
Title: Altius December 31, 2018 Q4 and year end results
Webcast
URL: Altius
Q4 and Year End 2018 webcast

The call will be webcast and archived on the Corporation’s website for a
limited time.

¹ Attributable royalty revenue is a non‐IFRS measure and does
not have any standardized meaning prescribed under IFRS. For a detailed
description and examples of the reconciliation of this measure, please
see the Corporation’s MD&A disclosures for prior quarterly and annual
reporting periods, which are available at http://altiusminerals.com/financial-statements

About Altius
Altius’ directly and indirectly held
diversified royalties and streams generate revenue from 15 operating
mines. These are located in Canada and Brazil and produce copper, zinc,
nickel, cobalt, iron ore, potash and thermal (electrical) and
metallurgical coal. The portfolio also includes numerous pre-development
stage royalties covering a wide spectrum of mineral commodities and
jurisdictions. It also holds a large portfolio of exploration stage
projects which it has generated for deal making with industry partners
that results in newly created royalties and equity and minority
interests.

Altius has 42,851,726 common shares issued and outstanding that are
listed on Canada’s Toronto Stock Exchange. It is a member of both the
S&P/TSX Small Cap and S&P/TSX Global Mining Indices.

Forward-Looking Information

This news release contains forward‐looking information. The
statements are based on reasonable assumptions and expectations of
management and Altius provides no assurance that actual events will meet
management's expectations. In certain cases, forward‐looking information
may be identified by such terms as "anticipates", "believes", "could",
"estimates", "expects", "may", "shall", "will", or "would". Although
Altius believes the expectations expressed in such forward‐looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected. Mining exploration and
development is an inherently risky business. In addition, factors that
could cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect decisions to
pursue mineral exploration on the relevant property and the ultimate
exercise of option rights, which may include changes in market
conditions, changes in metal prices, general economic and political
conditions, environmental risks, and community and non-governmental
actions. Such factors will also affect whether Altius will ultimately
receive the benefits anticipated pursuant to relevant agreements. This
list is not exhaustive of the factors that may affect any of the
forward‐looking statements. These and other factors should be considered
carefully and readers should not place undue reliance on forward-looking
information. Altius does not undertake to update any forward-looking
information contained herein except in accordance with securities
regulation.

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