Altus Strategies PLC (ALS.L) US$81 million PEA for Diba gold project, Mali

Altus Strategies Plc (AIM: ALS & TSX-V: ALTS) (”Altus” or the ”Company”), the African mining royalty generator, announces positive results from a Preliminary Economic Assessment (“PEA”) for its 100% owned Diba gold project (“Diba”) in western Mali (” Mali “).


· Positive PEA for an open-pit oxide gold mine with strong cashflow and rapid payback

· Project economics applying a 10% discount rate and US$1,500/oz gold price:

o Pre-tax NPV of US$115 million, IRR of 728% and payback of 6.2 months

o After-tax NPV of US$81 million, IRR of 469% and payback of 6.9 months

· Project economics applying a 5% discount rate and US$1,800/oz gold price:

o Pre-tax NPV of US$167 million

o After-tax NPV of US$118 million

· Average production of 52,000oz per year with 3.25 year mine life and low strip ratio of 1:1.37

· Significant growth potential for Diba project:

o Seven further significant oxide gold targets to be systemically drill tested

o Metallurgical study to test potential for sulphide ores to be processed via CIL

· Diba is contiguous with the Sadiola mining permit at the heart of a world renowned belt

Steven Poulton, Chief Executive of Altus, commented:

“We are delighted with the robust PEA results on the oxide portion of the Diba hill deposit. The PEA envisages a simple low-cost and low-strip ratio open-pit gold mine, using standard heap-leach processing to generate a pre-tax valuation of US$115M, yielding an IRR of 728%.

“While the preliminary economics are compelling, we believe Diba has considerable growth potential. We now intend to systematically drill test the seven priority targets we have discovered within 7km of the Diba hill deposit. We will also undertake metallurgical test work to determine if the sulphide material, which is not modelled in the current PEA and which represents approximately 50% of the current mineral resource, is amenable to conventional CIL processing.

“We believe we have only scratched the surface on Diba’s potential to generate substantial value for our shareholders and look forward to providing updates in due course.”

Cautionary Statement Regarding Preliminary Nature of the PEA

Readers are cautioned that the PEA summarized in this press release is preliminary in nature and is intended to provide an initial, high-level review of the project’s economic potential and design options. The PEA mine plan and economic model includes numerous assumptions and the use of Indicated and Inferred Resources. Indicated and Inferred Resources are considered to be too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and as such, there is no certainty that the PEA will be realized. Actual results may vary, perhaps materially. The projections, forecasts and estimates presented in the PEA constitute forward-looking statements and readers are urged not to place undue reliance on such forward-looking statements. Additional cautionary and forward-looking statement information is detailed at the end of this news release.

Full Update

About Altus Strategies Plc

Altus Strategies is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed mining royalty company generating a diversified and precious metal focused portfolio of assets. The Company’s focus on Africa and differentiated approach, of generating royalties on its own discoveries as well as through financings and acquisitions with third parties, has attracted key institutional investor backing. The Company engages constructively with all stakeholders, working diligently to minimise its environmental impact and to promote positive economic and social outcomes in the communities where it operates. For further information, please visit .


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