TIDMALS
RNS Number : 0139I
Altus Strategies PLC
12 April 2022
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
12 April 2022
Altus Strategies Plc
("Altus" or the "Company")
Mining Licence Granted for Agdz Copper-Silver Project in
Morocco
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces that the Ministry of Energy Transition and Sustainable
Development of the Kingdom of Morocco has issued a 10 year mining
licence in respect of the Company's 100% owned Agdz copper ("Cu")
and silver ("Ag") project ("Agdz" or the "Project"). Agdz is
located 14km southwest of the Bou Skour Cu-Ag mine in the eastern
Anti-Atlas of the Kingdom of Morocco (resources and reserves at Bou
Skour are not indicative of commercial mineralisation at Agdz). The
Company's Moroccan portfolio is held by its 100% owned subsidiary
Aterian Resources Ltd. Aterian is subject to a potential vend-in
and royalty generation transaction (the "Transaction") with
Eastinco Mining and Exploration Plc. The Transaction remains
subject to Eastinco completing its proposed admission to the London
Stock Exchange ("LSE") Standard List (see Company announcement
dated 22 November 2021).
Highlights:
-- Ten year mining licence granted on the Agdz Cu-Ag project in Morocco
-- Agdz is located 14km southwest of the Bou Skour Cu-Ag mine
-- Agdz hosts four significant Cu-Ag prospects covering an area of approximately 8 km(2)
-- Moroccan portfolio to be vended to Eastinco, subject to certain conditions precedent
-- Altus to hold 25% of the issued share capital of Eastinco upon closing of Transaction
-- Transaction will generate 14 new royalties to Altus in Morocco and one in Rwanda
Steven Poulton, Chief Executive of Altus, commented:
"The granting of a mining licence for the Agdz Cu-Ag project in
Morocco is a notable milestone for the project. The 10 year licence
provides long-term security of tenure for Agdz, where the Company
has discovered a number of significant copper and silver prospects.
Agdz is one of 14 Moroccan projects to be vended by Altus to
Eastinco subject to its proposed LSE listing. Altus will hold
royalties on all of the Moroccan projects, a royalty on a tantalum
asset in Rwanda as well as 25% of Eastinco's enlarged share capital
with warrants to purchase up to an additional 10%. I look forward
to updating shareholders on the potential transaction and our
progress in Morocco".
Agdz Mining Licence
A ten year 34.36 km(2) mining licence has been granted to the
Company's 100% owned Moroccan incorporated subsidiary, Azru
Resources SARL.AU. The licence will commence on 21 May 2021 and was
granted in accordance with Morocco's new mining law proclaimed in
May 2016. The Company has made a number of discoveries at Agdz,
including:
o The 2.80km long Makarn prospect, with results up to 8.00 % Cu
and 448 g/t Ag
o The 2.00km long Amzwaro prospect, with results up to 4.82 % Cu
and 189 g/t Ag
o The 0.15km long Minière prospect, with results up to 13.05 %
Cu and 12 g/t Ag
o The 0.70km long Daoud prospect, with results up to 2.71 % Cu
and 152 g/t Ag
Potential Transaction with Eastinco
Agdz is one of 14 projects the Company intends to vend to
Eastinco, subject to Eastinco completing its proposed admission on
the LSE Standard List. Under the terms of the Transaction, the
grant of the mining licence on Agdz will result in Altus holding
25% of the issued share capital of Eastinco upon its admission to
the LSE. Subject to admission, Altus will also be issued with five
year warrants to purchase up to an additional 10% of the enlarged
share capital of Eastinco. The exercise price of the first 50% of
the warrants will be the weighted average of the Eastinco pre-IPO
price and the market price on admission. The remaining 50% of the
warrants will have an exercise price which is at a 100% premium to
the first exercise price.
Illustrations
The following figures relate to the disclosures in this
announcement and are visible in the version of this announcement on
the Company's website (www.altus-strategies.com), or in PDF format
by following this link:
https://altus-strategies.com/site/assets/files/5545/altus_nr_-_agdz_licence_12_apr_2022.pdf
-- Location of the Adgz Cu-Ag project in Morocco is shown in Figure 1.
-- Map of the Adgz mining licence is shown in Figure 2.
-- Map of ground magnetics survey at Agdz is shown in Figure 3.
-- A selection of photos from Agdz is shown in Figure 4
Figure 1. Location of the Adgz Cu-Ag project in Morocco
Figure 2. Map of the Adgz mining licence
Figure 3. Map of ground magnetics survey at Agdz
Figure 4. Selection of photos from Agdz
Qualified Person
The technical disclosure in this regulatory announcement has
been approved by Steven Poulton, Chief Executive of Altus. A
graduate of the University of Southampton in Geology (Hons), he
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 NI 43-101.
For further information you are invited to visit the Company's
website www.altus-strategies.com or contact:
Altus Strategies Plc Tel: +44 (0) 1235 511 767
Steven Poulton, Chief Executive E-mail: info@altus-strategies.com
SP Angel Corporate Finance LLP (Nominated
Adviser) Tel: +44 (0) 20 3470 0470
Richard Morrison / Adam Cowl
SP Angel Corporate Finance LLP (Broker)
Grant Barker Tel: +44 (0) 20 3470 0471
Rob Rees Tel: +44 (0) 20 3470 0535
Shard Capital Partners LLP (Broker)
Isabella Pierre / Damon Heath Tel: +44 (0) 20 7186 9927
Yellow Jersey PR (Financial PR & IR) Tel: +44 (0) 20 3004 9512
Charles Goodwin / Henry Wilkinson E-mail: altus@yellowjerseypr.com
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. Altus has established a global portfolio comprising 33
royalty interests and 27 project interests across nine countries
and nine metals. The Company continues to assess royalty
acquisition opportunities as well as actively advancing its
portfolio of gold and base metal projects across Africa, as part of
its 'boots on the ground' royalty generation strategy. 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 Company
or estimates of future performance, may 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 ability to complete exploration programmes on
schedule and the success of exploration programmes. 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.
****
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