MINERALS CORPORATION

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MINERALS CORPORATION
The Beginning of Chapter 2
June 2009



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CAPITAL STRUCTURE
Issued shares 28,381,195 Fully
Diluted 29,689,695 Cash 157
million Debt nil
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the 1st Cycle
Chapter 1 for Altius Altius began early in the
last resource bear market (1997-2002) generating
exploration projects at low cost It managed
successfully to sell many of these during the
bull market from 2003 to 2008 while often
retaining long-term royalties A royalty creation
business
37 annual share price growth rate through first
complete sector cycle
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Voiseys Bay Royalty
Acquired in 2003 Long term Ni price assumption
of 3.25 Viewed as a long-term investment in a
world-class asset Payback achieved in 2008 25
year revenue stream low cost producer Current
year revenue estimated at 1.5-2.0 million No
cost continued exposure to exploration and
expansion potential Vale has announced new
capital investment in processing infrastructure
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AURORA ENERGY
Co-founded Aurora Energy Resources in 2005 and
subsequently grossed208 million in sale of full
equity interest Retain 2 gross sales royalty on
all potential uranium production in Auroras
Central Mineral Belt project with current M-I-I
resources of 130 M lbs
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Embracing Cyclicity

• The beginning of Chapter 2 for Altius
• Current environment is similar to 1997-2002
• Major difference is that we are starting this
  cycle with a large, profit derived, cash position
  and a well developed project generation business
  model
• Current cash is far in excess of that optimal to
  the project generation business
• Additional contrarian investments in the sector
  are attractive

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Project generation and royalty businesses
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Project Generation Business
Focus on founding creative, new mineral resource
projects Attract JV financing partners (more
than 50 since inception, 14 current) Co-found
independent public spin-out companies around
select project initiatives e.g. Aurora, Rambler
Altius has directly invested about 10 million
in mineral project generation over 11 years
since inception Third party spending on Altius
generated projects in that time exceeds 80
million Diversified commodity focus
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Examples of JV Success in 2008

• Viking - four new zones of high-grade
• gold mineralization with recent drill hole
• Intercepts of 218.79 g/t over 0.5 m,
• 50.05 g/t over 3.7 m
• 2500 m drilling program commencing next month

Taylor Brook - 1.71 Ni, 0.13 Cu, and 0.028 Co
over 4.15 meters
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Project Generation - Kamistiatusset Iron Ore
Project

• A new discovery located in the heart of North
  Americas most important iron ore mining district
• Acquired by staking when the market was gloomy
• - K-08-01 30.10 Fe over 108.50 m
• K-08-03 30.00 Fe over 100.40 m
• Nearby Bloom Lake deposit which recently
• completed project financing and off-take

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Whats Next?

• Project generation business in excellent position
  
• - competition for projects, people and services
  is dropping quickly
• - great opening now to expand proven model to
  additional jurisdictions
• Cash position creates additional contrarian
  opportunities to acquire royalty and equity
  stakes in strong assets
• -Initial deal flow indications are strong
• Consider Altius as a potential value adding
  financial partner
• www.altiusminerals.com

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MINERALS CORPORATION