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Altus Strategies Plc / Index (EPIC): AIM (ALS); TSX-V (ALTS); OTCQX (ALTUF) / Sector: Mining

1 February 2022

Altus Strategies Plc

("Altus" or the "Company")

Completion of Newcrest Gold Royalty Portfolio Acquisition

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces it has completed the second and final closing ("Second Close") of the recently announced acquisition (the "Acquisition") of a portfolio of 24 royalties and royalty interests (each a "Royalty" and together the "Royalties") from Newcrest Mining Ltd and certain of its group companies (together "Newcrest") (see Altus news releases dated 13 and 21 December 2021). The Royalties have been acquired through a strategic joint venture with AlphaStream Limited ("AlphaStream"), a specialist mining royalty and streaming company. Total consideration for the Acquisition was US$ 37.5 million ("Consideration") with the aggregate amount paid by Altus being US$ 24.0 million.

The Second Close provided a period for certain pre-emptive rights to be exercised on nine of the exploration stage royalties in Australia. None of these rights were exercised in the designated time period and, accordingly, Altus and AlphaStream have paid the remaining balance of US$ 5,037,500 to Newcrest (of which US$ 4,035,037 was paid by Altus).

Highlights:

· Acquisition of the Royalties from Newcrest now complete after final closing

· Portfolio includes royalties over two producing gold mines, one near producing gold mine and 21 development and exploration stage assets

· Potential annual revenues to Altus of up to US$ 3.5 million (post-tax) from the Royalties, based on a forecast 10-year average (also see Cautionary Note Regarding Forward-Looking Statements and Altus Assumptions)

· The Company's entire royalty portfolio is estimated to generate up to US$ 6.4 million in post-tax revenue for 2022

· Royalties acquired by Altus from Newcrest comprise an effective:

o 80.1% economic interest in the Australian royalty portfolio including:

§ a 2.5% net smelter return ("NSR") royalty on the producing Ballarat gold mine in Victoria

§ a A$ 10/ounce royalty from certain licences at the producing South Kalgoorlie Operations in Western Australia

§ various royalties on 21 development and exploration stage assets

o 50% economic interest in a 4.5% NSR royalty over Push Back 5 (capped at 560,000 ounces of gold) from the near-production Bonikro gold mine in Côte d'Ivoire

· Second Close cash consideration of US$ 5,037,500 paid by Altus and AlphaStream, of which US$ 4,035,037 was paid by Altus

· First Close payment of US$ 32,462,500 was made on 21 December 2021

· Further royalty opportunities under review in parallel with exploration in Mali and Egypt

Steve Poulton, Chief Executive of Altus, commented:

"We are delighted to close the Newcrest gold royalty Acquisition, which represents another landmark transaction completed by Altus. The Company has now paid US$ 24.0 million as its portion of the total US$ 37.5 million Consideration. Following the completion of the Acquisition, our global portfolio now comprises 33 royalties and 27 project interests, across nine countries and nine different metals.

"The Newcrest portfolio is heavily weighted towards Australia and comprises royalty interests over two producing mines, one-near production mine, 15 development stage projects and six exploration stage assets. Many of these royalties are located on assets in known gold mining districts, including the Eastern Goldfields, the Pilbara, the Mt Isa Inlier, and the Lachlan Fold Belt. The operators of the projects include numerous high quality precious and base metal companies who are well known to the market.

"The Acquisition provides Altus with immediate cash flow and is estimated to generate up to US$ 3.5 million in post-tax annual revenue to Altus, based on a forecast 10-year average. The consolidated royalty portfolio is estimated to generate up to US$ 6.4 million in annual (post-tax) royalty revenue for 2022.

"Altus continues to build on its growing track record of identifying and acquiring high quality royalty assets and we are actively reviewing a number of such opportunities. I look forward to updating shareholders on these activities in due course."

Altus Assumptions

Pursuant to the Acquisition, Altus now owns an effective 50% economic interest in the royalty on the Bonikro gold mine and an effective 80.1% economic interest in the Australian royalty portfolio. The Acquisition is estimated to generate attributable after-tax revenue to Altus of up to US$ 3.5 million per annum over the next 10 years based on internal assumptions. This is based on production forecasts provided by Newcrest and a sliding scale gold price based on consensus pricing as at September 2021 ("Altus Assumptions") of:

For further information, you are invited to visit the Company's website www.altus-strategies.com or contact:

About Altus Strategies Plc

Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company's differentiated approach of generating royalties on its own discoveries in Africa and acquiring royalties globally through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit www.altus-strategies.com.

Cautionary Note Regarding Forward-Looking Statements

Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the expectations of the Directors or estimates of future performance constitute "forward-looking statements". These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the success of development and mining programmes by the mine operators, fluctuations in metal markets and currency exchange rates. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this announcement and the forward-looking statements contained in this announcement are expressly qualified in their entirety by this cautionary statement.

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. The forward-looking statements contained in this announcement are made as at the date hereof and the Company assumes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcements whether as a result of new information, future events or otherwise, except as required under applicable law or regulations.

TSX Venture Exchange Disclaimer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organisation of Canada accepts responsibility for the adequacy or accuracy of this release.

Market Abuse Regulation Disclosure

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon publication of this announcement, the inside information is now considered to be in the public domain for the purposes of MAR.

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