Altius Minerals Corporation

Silver Range Resources Ltd. has defined follow-up exploration targets at its Drum Project in central Utah after compiling and analyzing historic data from past operators Goldfields Limited, Newmont Mining and Troymet Minerals. The historic dataset comprises 41 drill holes, 476 surface rock samples, 1121 soil samples, and gravity, magnetic field and VLF-EM geophysical data. The best gold mineralization intersected in those historic holes is structurally controlled, and Silver Range now intends to focus further exploration on defining structurally controlled Carlin-style mineralization, similar to Nevada deposits such as Goldstrike and the Fourmile Deposit. Historic surface samples along the regional-scale Joy Fault returned assays up to 3.94 g/t Au and 47.1 g/t Ag, and the Joy Fault was drill tested in three of the 41 historic holes, returning the best drill results to date from the property including 30.48 m @ 0.967 g/t Au including 1.52 m @ 6.57 g/t Au. At High Grade Hill, historic surface samples returned assays up to 310 g/t Au, 130 g/t Ag and 0.38% Te. Silver Range plans geologic mapping focused on structure and alteration, prospecting, soil sampling and geophysical surveys to define new drill targets, and Altius Minerals Corporation has been granted a 1% net smelter return on the Drum Property pursuant to a March 2023 agreement.

Altius Minerals Corp reported second-quarter earnings of C$8.41 million, or C$0.15 per share, up from C$5.35 million, or C$0.11 per share, a year earlier. Revenue surged 135.7% to C$23.15 million from C$9.82 million in the same period last year.

Altius Minerals Corporation has closed a transaction raising its effective ownership in Great Bay Renewables to 50 percent. Funds managed by Apollo affiliates sold their membership interests in GBR to Northampton Capital Partners for approximately 390 million US dollars, while Northampton concurrently sold its interest in Altius Renewable Royalties Corp. to Altius for about 168 million US dollars. As a result, Altius’s effective interest in GBR rose from 29 percent to 50 percent, with Northampton holding the remaining 50 percent and Apollo funds exiting entirely. Altius also amended its credit facility, increasing it to 350 million Canadian dollars from 225 million Canadian dollars, led by Bank of Nova Scotia and Toronto-Dominion Bank, and extended the maturity to July 2030.

Altius Minerals has increased its strategic stake in TNR Gold Corp after acquiring an additional 7.435 million shares on the public market. The shares were purchased at C$0.23 each on July 17, bringing Altius's total holding to 30.935 million shares. TNR Gold's executive chairman Kirill Klip welcomed the increased investment, calling it another milestone for the company's strategy and noting that the earlier strategic investment closing on May 25, 2026, enabled TNR Gold to advance its strategic plan. Klip highlighted that the company's portfolio spans different stages of the mining cycle and includes partnerships with McEwen Inc., Ganfeng Lithium, Lundin Mining, and BHP on projects that could potentially generate royalty cash flows.

TNR Gold Corp announced plans to launch a normal course issuer bid to repurchase up to 7.1 million of its common shares, representing approximately 3% of its issued and outstanding shares. The buyback is expected to begin on or about July 2, 2026, and continue until July 2, 2027, with no more than 2% of outstanding shares purchased in any 30-day period. Purchases will be made by Ventum Financial through the TSX Venture Exchange and funded from existing working capital, with all acquired shares cancelled. The company stated that no insiders intend to participate, and it believes its share price does not fully reflect the underlying value of its business, citing market volatility in the junior mining sector despite progress at projects underlying its royalty interests and strengthened financial flexibility following a recent financing. Executive chairman Kirill Klip noted the recent strategic investment by Altius Minerals and his personal ownership of 27.8 million shares as a sign of confidence in the company's long-term strategy.