ALS.L Regulatory News (ALS)

Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector: Mining

01 February 2019

Altus Strategies Plc

("Altus" or the "Company")

Issue of Equity

Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa focused exploration project generator, announces that it intends to issue 116,973 new Ordinary Shares of 1p each ("Ordinary Shares") to Christine Heidenberger of Freetown, Sierra Leone. These Ordinary Shares will be issued in accordance with a Finder Agreement dated 28 March 2017, following the successful identification of new exploration opportunities in the Republic of Ivory Coast. The current market value of these shares is approximately £3,509/C$6,048 based on the closing price of the Ordinary Shares on the AIM market of the London Stock Exchange ("AIM") on 31 January 2019.

The Company also announces that, subject to the Company securing a Joint Venture on its Lakanfla gold project ("Lakanfla") located in the west of the Republic of Mali ("Mali"), it intends to issue 2,000,000 new Ordinary Shares to AGMEX SARL ("AGMEX") ("JV Shares"), a company incorporated in Mali. These Ordinary Shares will be issued for the termination of a pre-existing Net Smelter Return royalty held by AGMEX on Lakanfla. The current market value of these Ordinary Shares is approximately £60,000/C$103,421 based on the closing price of the Ordinary Shares on AIM on 31 January 2019. If the JV Shares are to be issued, a further announcement will be made.

Historic drilling at Lakanfla has reportedly returned high grade drill intersections of 9.78g/t Au over 12m and 5.20g/t Au over 16m. Lakanfla is strategically located 6.5km from the multi-million ounce Sadiola gold mine, which is jointly owned and operated by Anglogold Ashanti (JSE: ANG, NYSE: AU and ASX: AGG) and IAMGOLD Corporation (TSX: IMG & NYSE: IAG). The oxide resources at Sadiola have reportedly been exhausted and a new multi-million ounce sulphide resource has reportedly been defined. However, the Sadiola mine is reportedly for sale and the Company considers that the oxide gold potential at the Lakanfla project may be of considerable strategic value in the future.

The Ordinary Shares described in this news release will be subject to a Canadian statutory four month hold period. Of the Ordinary Shares issued to AGMEX, 50% will be subject to a further twelve month voluntary escrow period under an agreement that AGMEX has entered into with the Company.

Neither of the issues of equity is a "Non-Arm's Length Qualifying Transaction" as defined by the TSX Venture Exchange ("TSX-V") and neither is subject to shareholder approval.

Application has been made for the 116,973 New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange ('Admission'). Admission is expected to occur on or around 8 February 2019, subject to TSX-V, AIM and any other required approvals.

Total voting rights

Following the issue of the 116,973 New Ordinary Shares, the total issued share capital of the Company consists of 177,899,659 Ordinary Shares of 1p each with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 177,899,659 and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Qualified Person

The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. He has not verified the historical data disclosed in this regulatory announcement but has no reason to question its accuracy. A graduate of the University of Southampton in Geology (Hons), Steven Poulton also holds a Master's degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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

About Altus Strategies Plc

Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects and royalties, diversified by commodity and by country. Altus currently has eighteen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release contain forward-looking information. 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 ability to complete exploration programs on schedule and the success of exploration programs. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.