Altus Strategies Plc – Several high-grade gold discoveries in Egypt and other licenses granted


Altus Strategies Plc announced the discovery of several high-grade gold prospects from reconnaissance sampling at the company’s four current projects in Egyptand also announced the award of two additional gold exploration licenses that will increase the company’s overall holdings in Egypt at 1914 km2.

All company licenses in Egypt are located in the highly prospective Eastern Desert and are owned by the company’s wholly owned subsidiary Akh Gold Ltd.

Strong points

Several gold discoveries made at the company’s four projects in Egypt.

Over 100 artisanal hard rock gold mines mapped with grades up to 100 g/t gold (Au).

The results indicate the potential for several prospective structures several kilometers in length.

Two new licenses totaling 349 km2 awarded under the recent competitive tender.

Total land ownership in Egypt will increase to 1914 km2 in six key project areas.

Fully constituted operational team comprising 10 Egyptian geologists and two field offices.

Aggressive exploration campaign underway to define and prioritize potential drill targets.

Steven PoultonManaging Director of Altus, said, “There are few gold opportunities in the world today that are as attractive as those presented in the world-renowned geology of the Nubian Shield in the Eastern Desert of Egypt. I am delighted to report that Altus has not only established a strong portfolio of very promising projects in this province, now totaling nearly 2,000 km2, but that our early exploration results indicate that we may already be at the lags behind a number of potentially significant rock gold discoveries:

‘Key highlights of the recent program include: the definition of a 12 km long discontinuous trend on the 175 km2 Wadi Dubur license, where sampling of numerous active and historic hard rock gold workings returned grades , including 51.1 g/t Au and 17.45 g/t Au.

Mapping of several hard rock gold workings within a 30 km long discontinuously mapped shear zone corridor within the 696 km2 Wadi Jundi permit, from which cuttings sampling returned grades up to 58 .3 g/t Au and 20.5 g/t Au, with rock chip results including 10.2 g/t Au and 9.53 g/t Au.

The discovery of a 2 km long discontinuous zone of hard rock artisanal workings on the 348 km2 Gabal Al Shaluhl permit, from which rock chip samples returned grades of 14.75 g/t Au, 9 .18 g/t Au and 6.16 g/t Au.

“Taken together, these results from our very first phase of exploration program in Egypt are exceptional.

“The company is also pleased to announce that it has been awarded two further projects totaling 349 km2 in the eastern desert of Egypt. These projects were requested based on their significant prospectivity for potential gold discoveries, as defined by the company’s proprietary geological and remote sensing database. They were granted by the Egyptian Mineral Resources Authority below egypt second international tender.

‘We have now established our offices in the field and in Egypt and our team has grown to include 10 exceptional Egyptian geologists, complemented by our UK discovery team. We are now able to execute multiple exploration programs simultaneously on our extensive portfolio of Egyptian licenses.

“I look forward to updating shareholders on our progress in Egypt as we pursue our programs designed to generate new discoveries and ultimately create new royalty opportunities.

Projects: context and exploration results

The projects were awarded to Akh Gold, as part of egypt inaugural and competitive international call for tenders for exploration licenses initiated by the Egyptian Mineral Resources Authority (“EMRA”) in 2020. The current four projects, which comprise nine license blocks and cover 1,565 km2, are located in the eastern desert of Egyptbetween 30 km and 100 km west of the Red Sea coast. Projects were awarded for an initial term of two years, with each license renewable for up to two additional terms, each for two years.


Steven Poulton

Tel: +44 (0) 1235 511 767

Email: [email protected]

About Altus Strategies Plc

Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a revenue-generating mining royalty company, with a diverse portfolio of production, pre-production and discovery-stage assets. The Company’s differentiated approach of generating royalties on its own discoveries in Africa and the acquisition of royalties globally through third-party financings and acquisitions has attracted support from key institutional investors. Altus has established a global portfolio comprising 33 royalty interests and 27 project interests in nine countries and nine metals. The Company engages constructively with all stakeholders, working diligently to minimize its environmental impact and promote positive economic and social outcomes in the communities where it operates.

Forward-looking statements

Certain information included in this announcement, including information relating to future financial or operating performance and other statements that express the directors’ expectations or estimates of future performance, constitute “forward-looking statements.” These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from results, future performance or achievement expressed or implied by the statements. . These factors include, but are not limited to, the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs. Readers are cautioned not to place undue reliance on forward-looking information, which speaks 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 regarding 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 of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking information or any forward-looking statements contained in any other announcement, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation.


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