ALS:TSX.

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1 www.

2 OUR BUSINESS Altius has two complementary business lines Mineral l exploration following a project generator / farm out model dl Royalty focused, indirect mineral project investment Both are lower risk versions of typical exploration and production level business models Both result in the accumulationofof royalty assets

3 Project Generation OUR BUSINESS

4 PROJECT GENERATION BUSINESS Core corporate focus is on the internal generation of exploration projects Altius has a strong ability to generate mineral exploration projects of merit More than 50 projects have attracted industry funding partners over the past decade Partner exploration funding exceeds $120 million over that period (vs. ~$12 million directly) Currently expanding this business to additional jurisdictions within Canada and US Upon generating a project of merit Altius will generally choose one of two options: Form a partner funded joint venture to hold a minority direct project interest Create a minority equity stake in a project specific spin out company Retain a founders royalty in either scenario

5 PROJECT GENERATION BUSINESS JOINT VENTURE PARTNER OF CHOICE noranda Noranda Rio Tinto Kennecott BHP Billiton 9 currently active project agreements

6 PROJECT GENERATION BUSINESS SPIN OUT MODEL Co founded public company spin outs are a variation on the joint venture model Three such companies have been successfully created around Altius generated projects Founders equity position in Aurora cost $650,000 and was monetized for $208 million Paladin Energy recently purchased Aurora and is advancing the large CMB deposits (~130M lb all category resource) through feasibility. CMBis subjectto to a 2%AltiusGross Sales Royalty Rambler is a near term copper producer Altius co founded in 2005 with an ~$600,000 investment Founders equity investment recently monetized for $6,000,000 in proceeds Alderon was founded in 2010 following an Altius investment in the Kami iron ore project of ~$2 million Altius s s founders equity position is currently valued at ~$120 million Altius retains a 3% Gross Sales Royalty for the Kami project (initial resource estimate imminent)

7 Royalties OUR BUSINESS

8 For development and producing stage mineral assets Altius prefers royalties ROYALTY BUSINESS Creation Strategy Project generation business allows retention of a royalty at the time of joint venture or spin out Results in low cost (often free ) royalty cost base Acquisition Strategy Seeking to directly acquire existing royalties or provide royalty financing Targeting world class development to production stage assets with proven operators

9 ROYALTY BUSINESS CREATION 3% Gross Royalty on Alderon s Kami Iron Ore project (resource calculation stage) 2% Gross Royalty on Paladin Energy s (recent acquirer of Aurora) CMB Uranium project (feasibility stage) 2 4% 2 sliding scale NSR on Northern Abitibi s ibi Viking Gold project (resource calculation l stage) several other exploration stage royalties in portfolio

10 ROYALTY BUSINESS ACQUISITIONS (VOISEY S BAY ROYALTY) Acquired in 2003 ; Payback achieved in year revenue stream low cost producer Annual average revenue estimated at $2.5 $4 million Exposure to exploration and expansion potential at zero cost zero risk

11 CAPITAL STRUCTURE Issued shares: 28,780, Cash & secured investments: $169 million Options: 1,035,500 Minerals sector investments: ~$172 million Fully Diluted: 29,816,395 Debt: nil

12 PROJECT GENERATION / ROYALTY CREATION PIPELINE 9A Active ti JJoint i tv Ventures t and d iin excess off 20 other th exploration l ti projects j t off merit it 4 to watch in 2011 Natashquan Nickel Copper Platinum Project Notakwanon Uranium Topsails Copper Molybdenum Gold Project Snelgrove Lake Iron Ore

13 THANK YOU For further information please contact Chad Wells, VP Corporate Development at or