Altius Confirms Closing of $65 Million Offering of Common Shares

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES, OR FOR DISSEMINATION IN THE
UNITED STATES


Altius Minerals Corporation ("Altius" or the "Company") (TSX:ALS) is pleased to
announce it has closed its previously announced offering of 4,643,000 common
shares at a price of $14.00 per share for gross proceeds of $65,002,000 (the
"Offering"). There was no over-allotment option granted in connection with the
Offering. The Offering was undertaken by a syndicate of investment dealers
co-led by Scotia Capital Inc. and Haywood Securities Inc., and included BMO
Capital Markets, Sprott Private Wealth L.P., Raymond James Ltd. and Salman
Partners Inc. (collectively, the "Agents")


The Company intends to use the net proceeds of the Offering to (i) acquire OTPPB
SCP Inc.'s 50% interest in Carbon Development Partnership, which is expected to
close today, May 13, 2014, (ii) repay its $7.2 million unsecured loan, (iii)
repay $20 million of borrowings under its credit facility, and (iv) for general
corporate purposes.


The Common Shares were offered by way of a short form prospectus, which was
filed in all of the provinces and territories of Canada and in the United States
on a private placement basis pursuant to an exemption from the registration
requirements of the United States Securities Act of 1933, as amended, and
applicable state securities laws. 


About Altius

Altius is focused on the mining and resources sector through prospect generation
and the creation and acquisition of royalties. 


Altius holds royalty interests in 12 producing assets that include 5 coal mines
and 6 potash mines located in western Canada and a royalty on the producing
Voisey's Bay nickel-copper-cobalt mine in Labrador.


It has a 3% gross sales royalty on the development stage Kami iron ore project
of Alderon Iron Ore Corp. ("Alderon"), a 2% gross sales royalty for the advanced
exploration stage Central Mineral Belt uranium project of Paladin Energy
Limited, and several other resource stage project royalties. Its project
generation pipeline contains a diversified portfolio of exploration stage
projects and royalties, many of which are being advanced through various
partner-funding arrangements. 


Altius has also built a portfolio of directly and indirectly held junior
resource investments, including a approx. 25% shareholding in Alderon (TSX:ADV),
an approx. 8% shareholding in Virginia Mines Inc. (TSX:VGQ), and a approx. 5.9%
shareholding in Callinan Royalties Corporation (TSX VENTURE:CAA).


Altius has 32,238,821 shares issued and outstanding that are listed on Canada's
Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX
Global Mining Indices. 


Caution Regarding Forward-Looking Statements and Information

This news release contains forward-looking information about the Offering,
including, but not limited to, statements pertaining to the Company's proposed
use of the net proceeds of the Offering. The forward-looking statements in this
news release are subject to a number of risks and uncertainties that could cause
actual events or results to differ materially from current expectations,
including those related to the business generally, which are set out in
materials filed with the securities regulatory authorities in Canada from time
to time, including the risk section of the Company's annual Management's
Discussion and Analysis report, Annual Information Form and the short form final
prospectus. 


The Company does not undertake to update any forward-looking statements that may
be made from time to time by or on behalf of the Company other than as required
by applicable securities laws. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Altius Minerals Corporation
Chad Wells
Toll Free: 1-877-576-2209
709-576-3441 (FAX)
[e-mail]
www.altiusminerals.com