Drilling hits 4.9 g/t Gold over 14m at Tabakorole Royalty & JV Project, Southern Mali

Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) announces highly encouraging Reverse Circulation (“RC”) drilling results from the Lone Wolf prospect at the Tabakorole gold project (“Tabakorole” or the “Project”), located in southern Mali. Altus holds a 2.5% Net Smelter Return (“NSR”) royalty and a 30% equity interest in the Project. Exploration activities at Tabakorole are being funded by Marvel Gold Limited (ASX: MVL) under its Joint Venture (“JV”) with Altus. The drilling was designed to test the potential to extend the Tabakorole deposit on which a Mineral Resource Estimate (“MRE”) has been modelled.

Highlights:

• Encouraging gold results from RC drilling at the Tabakorole gold project in Southern Mali
• Altus holds a 2.5% NSR royalty on gold production and a 30% equity interest in the Project
• Results from five RC drill holes received with intersections (not true widths) including:
  • 14m at 4.9 grams per tonne (“g/t”) gold (“Au”) from 33m and
  • 10m at 1.9 g/t Au from 55m
• Mineralisation at the Lone Wolf prospect remains open along strike and at depth
• Tabakorole hosts a mineral deposit for which an MRE has been generated (see Altus’ news release “Gold Resource Exceeds One Million Ounces at Tabakorole in Southern Mali” dated 05 October 2021) comprising:
  • 17,300,000 tonnes at 1.2 g/t Au for 665,000 ounces in the Inferred category
  • 9,200,000 tonnes at 1.2 g/t Au for 360,000 ounces in the Indicated category
  • 70% of the deposit subject to the MRE is situated within 150m of the surface
  • Deposit remains open in parallel zones and at depth
  • Preliminary high metallurgical recoveries indicate simple processing flowsheet

Steven Poulton, Chief Executive of Altus, commented:

“We are delighted with the progress being made by Marvel at our Tabakorole gold royalty and JV project in Mali. The recent RC drilling results are highly encouraging including a wide, high grade and shallow intersection of 14m at 4.9 g/t from 33m. A follow up geophysical survey is now being planned ahead of further drilling. Altus holds a 2.5% NSR royalty on gold production from Tabakorole and our 30% interest is free-carried until Marvel completes US$5 million of expenditure by December 2023. Marvel may then earn up to an 80% interest in the project by sole funding a definitive feasibility study. I look forward to updating shareholders on progress in due course.”

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