|By Marketwired .||
|June 12, 2014 07:19 AM EDT||
ST. JOHN'S, NEWFOUNDLAND -- (Marketwired) -- 06/12/14 -- Altius Minerals Corporation ("Altius" or the "Company") (TSX: ALS) is pleased to announce its current Chairman, John Baker, QC, has agreed to accept the newly created full time position of Executive Chairman with Altius effective June 30, 2014. John was a co-founder of Altius in 1997 and has been the Chairman of the Board since 2005.
Prior to his appointment John was a senior partner in a leading St. John's law firm where he carried out an extensive and diverse mining, securities, and corporate/commercial practice. He has served on numerous public company and volunteer boards and has received several awards for public service.
Brian Dalton, Altius' President and CEO commented, "We have all worked with John for several years in a non-executive capacity but during the past year as the overall workload and opportunities before Altius increased dramatically, he was called upon to take on a more active role in operations and negotiations. John's contributions of talent and effort during this period delivered tremendous complementary benefits and greatly enhanced our collective ability to successfully execute on several strategic goals. His appointment has been met with unanimous enthusiasm and excitement by the board, management and staff. As a fellow co-founder of Altius, John has demonstrated tremendous passion, integrity and work ethic in contributing to its development and growth since 1997. This new role as a full-time member of the management team is a natural one and we whole-heartedly welcome this opportunity to work even more closely with John as our current and future goals and objectives are met."
Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties.
Altius holds royalty interests in 12 producing assets that include 5 coal mines and 6 potash mines located in western Canada and a royalty on the producing Voisey's Bay nickel-copper-cobalt mine in Labrador.
It has a 3% gross sales royalty on the development stage Kami iron ore project of Alderon Iron Ore Corp. ("Alderon"), a 2% gross sales royalty for the advanced exploration stage Central Mineral Belt uranium project of Paladin Energy Limited, and several other resource stage project royalties. Its project generation pipeline contains a diversified portfolio of exploration stage projects and royalties, many of which are being advanced through various partner-funding arrangements.
Altius has also built a portfolio of directly and indirectly held junior resource investments, including a approx. 25% shareholding in Alderon (TSX: ADV), an approx. 8% shareholding in Virginia Mines Inc. (TSX: VGQ), and a approx. 5.9% shareholding in Callinan Royalties Corporation (TSX VENTURE: CAA).
Altius has 32,238,821 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.
Altius Minerals Corporation
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