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[altiusmineralscorporation]

Altius Renews Issuer Bid for Regular Course

Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) ("Altius" or the "Corporation") is pleased to announce that it has renewed its Normal Course Issuer Bid ("NCIB"), which entitles it to purchase up to 1,698,481 common shares ("Shares") at market price, representing approximately 3.56% of the 47,680,588 common shares issued and outstanding as of August 10, 2022, using the services of The proposal is pending regulatory approval. Beginning on August 22, 2022, and ending no later than August 21, 2023, is the NCIB. Shares acquired during the NCIB will be cancelled and given back to the Treasury.

The TSX rules allow Altius to buy a maximum of 35,278 Shares each day under the NCIB through TSX facilities or authorised alternative trading systems. This amount represents around 25% of the average daily trading volume (ADTV) of 141,113 shares during the six calendar months prior to the offer. Altius has acquired, as of August 10, 2022, a total of 537,700 Shares under its current NCIB, which started on August 22, 2021 and will end on August 21, 2022, through market purchases on the TSX at a weighted average price of $16.81 per Share, while its approval allowed it to acquire a maximum of 1,642,612 Shares. The NCIB was implemented because, in the board of directors' opinion, Altius' value, as determined by projected cash flows and underlying asset values, occasionally exceeds the market price of the shares, making the purchase of shares under the NCIB a suitable use of capital. Since 2010, Altius has maintained a running NCIB programme.

Regarding Altius The goal of Altius's strategy is to increase earnings per share through a diverse portfolio of royalty assets connected to high-margin, long-lived businesses. Additionally, this strategy gives investors exposures that are in line with global growth trends related to sustainability, such as the switch from fossil fuels to renewable energy for electricity generation, electrification of transportation, lower emissions from steelmaking, and rising expectations for agricultural yields. Each of these macrotrends has the potential to raise demand for a number of commodities that Altius is exposed to, including copper, renewable energy-based power, a number of important battery metals (lithium, nickel, and cobalt), clean iron ore, and potash. In addition, Altius operates a prosperous project generation company where it develops mineral prospects and offers them to developers in exchange for ownership stakes and royalties. The issued and outstanding common shares of Altius, which are traded on Canada's Toronto Stock Exchange, total 47,680,588. It is a part of the S&P/TSX Canadian Dividend Aristocrats, S&P/TSX Global Mining, and S&P/TSX Small Cap indices. Information that is prospective This news release includes material that is prospective. The assertions are supported by reasonable management assumptions and expectations, but Altius makes no guarantees that the statements will come true. Certain phrases, such as "anticipates," "believes," "could," "estimates," "expects," "may," "shall," "will," or "would," can be used to identify forward-looking information.

Although Altius thinks the expectations contained in these forward-looking statements are supported by reasonable assumptions, actual outcomes or developments may differ considerably from those anticipated. Readers shouldn't rely too heavily on information that is projected in the future. Except as required by securities law, Altius does not undertake to update any forward-looking information contained herein.

For further information, please contact:

Altius Minerals Corporation TSX: ALS | OTCQX: ATUSF

Flora Wood Email: [email protected] Tel: [phone] Direct: 1.416.346.9020

Chad Wells Email: [email protected] Tel: [phone]