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Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector: Mining

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Altus Strategies Plc

(“Altus” or the “Company”)

Legend Gold Shareholders Approve Arrangement with Altus Strategies

Altus Strategies Plc (AIM: ALS), the Africa focused exploration project generator, announces that Legend Gold Corp. (“Legend”) (TSX.V: LGN) has received the requisite shareholder approval in connection with the proposed plan of arrangement (the “Arrangement”) pursuant to the arrangement agreement between Altus and Legend that was announced on 21 November 2017 (the “Arrangement Agreement”). At the special meeting of Legend (held on 18 January, 2018) Legend received 100% approval of the shareholders who voted on the resolution to approve the Arrangement. Legend intends to seek the approval of the Supreme Court of British Columbia to the Arrangement and the Final Order on 23 January 2018, and subject to court approval, the parties intend to proceed to closing the Arrangement on or about 25 January 2018.

The Arrangement Agreement sets out the terms and conditions pursuant to which Altus will acquire through an all-stock transaction the entire issued and outstanding common shares of LGN Holdings (BVI) Inc. (“LGN”) being the owner of the Legend Projects, by way of the Arrangement.

Steven Poulton, Chief Executive of Altus, commented:

“The approval of Legend’s shareholders for the proposed plan of arrangement is a transformational and accretive milestone for both Legend and Altus. The enlarged project generator company will offer shareholders direct exposure to a robust and well managed portfolio of nineteen projects at different stages of advancement, diversified by six commodities, across five countries and with two active joint venture partnerships. We believe the project generator model represents an optimal strategy for investors to participate in the potentially significant returns that can be made from making economic mineral discoveries, while mitigating a number of the potential financial, technical, managerial or geopolitical risks that can impact explorers that are heavily focused on just one or two assets. The application and other preparations required for a dual listing of our shares on the TSX-V is now underway and we will provide an update on this process in due course. In the meantime we look forward to the successful closing of the transaction and to welcoming Legend’s shareholders and team to Altus.”

Michael Winn, Chief Executive and Chairman of Legend, commented:

“We are delighted to announce the receipt of shareholder approval for the proposed plan of arrangement for a business combination with Altus, an Africa focused project generator which is listed on London’s AIM market. Altus is now making the necessary preparations to achieve a dual listing of its shares on the TSX-V. Closing of the arrangement, which remains subject to court approval, is expected to occur on or about 25 January 2018. On behalf of the board I would like to thank our shareholders for their overwhelming support and look forward to providing an update on the closing of the arrangement shortly.”

About the Arrangement Agreement

Under the Arrangement Legend will distribute the common shares in Altus (“Altus Shares”) it receives, to Legend shareholders on the basis of three Altus Shares for each common share they hold in Legend (“Legend Shares”). The holders of outstanding warrants of Legend ("Legend Warrants") will be entitled to receive, upon exercise of their securities, the number of Altus Shares which the holders would have been entitled to receive as a result of the Arrangement, if immediately prior to the effective date the holders had exercised their Legend Warrants. Following the completion of the Arrangement, LGN will be a wholly owned subsidiary of Altus and existing Altus shareholders and Legend shareholders will each own approximately 72.4% and 27.6% of the combined company, respectively, on a non-diluted basis. Altus is making an application for a dual listing of its shares on the TSX-V.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information you are invited to visit the Company’s website www.altus-strategies.com or contact:

Altus Strategies Plc

Steven Poulton, Chief Executive

Matthew Grainger, Executive Director

Greg Owen, VP Corporate Development

Tel: +44 (0) 1235 511 767

E: info@altus-strategies.com

SP Angel (Nominated Adviser)

Ewan Leggat / Richard Morrison / Soltan Tagiev

Tel: +44 (0) 20 3470 0470

SP Angel (Joint Broker)

Elizabeth Johnson / Richard Parlons

Tel: +44 (0) 20 3470 0471

Beaufort Securities (Joint Broker)

Jon Bellis

Tel: +44 (0) 20 7382 8300

Blytheweigh (Financial PR)

Tim Blythe / Camilla Horsfall / Nick Elwes

Tel: +44 (0) 20 7138 3204

Notes to editors:

About Altus Strategies Plc

Altus is a diversified and Africa focused project generator in the natural resource sector. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects which is diversified by commodity and by country. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.

The following is a summary of the Company’s key projects:

Morocco - Copper

The Company holds the 60km2 Agdz copper-silver exploration licence in central Morocco through its 100% owned subsidiary Aterian Resources Ltd. Five prospects have been defined to date, the best of which retuned grades up to 8% Cu, 448 g/t Ag and 3.74 g/t Au. The project is located close to a number of operating mines, notably the recently commissioned Bouskour Cu-Ag mine located 14km NE of Agdz.

Cameroon - Gold

The Company holds the 189km2 Laboum gold exploration licence in northern Cameroon through its 99% owned subsidiary Auramin Ltd. At Laboum an approximately 18km and 5km wide long gold-bearing shear zone has been discovered. In addition close to 1km of quartz veins have been discovered. High resolution ground geophysics and a concurrent gold in soil survey are defining priority targets for a systematic trenching programme. The Laboum licence hosts a number of artisanal gold mining sites and grab samples have returned grades up to 24.50 g/t Au from quartz veins and 6.86 g/t Au from the sheared metasedimentary rocks respectively.

Ethiopia - Copper and Gold

The Company holds the 322km2 Tigray-Afar and Negash copper-silver-gold exploration in northern Ethiopia through its 100% owned subsidiary Altau Resources Ltd and 97.3% owned subsidiary Aluvance Ltd respectively. Four distinct prospects have been identified to date, returning grades of up to 22 % Cu and 102 g/t Ag from surface sampling. Channel results have include 28m at 0.75% Cu, 31m at 0.50% Cu, 4m at 3.22% Cu & 6m at 1.46% Cu and drilling has returned grades of up to 1.14% Cu and 10.2 g/t Ag over widths up to 15.5m. The Company also holds the 412km2 Daro exploration licence, located in northern Ethiopia, which targets VMS style deposits.

Cameroon - Bauxite

The Company holds the 601km2 Birsok & Mandoum bauxite exploration licences in central Cameroon through its 97.3% owned subsidiary Aluvance Ltd. The Birsok & Mandoum licences are subject to a joint venture agreement with ASX-listed Canyon Resources Ltd. The project is within 10km of an operating rail line to the port of Douala on the Atlantic Ocean.

Liberia - Gold

The Company holds the 639.6km2 Bella Yella and 466km2 Zolowo gold exploration licences in north western Liberia through its 99% owned subsidiary Auramin Ltd. Both licences target targeting Archaean greenstone-hosted gold deposits. At Bella Yella a 7.5km NE-SW striking gold in soil anomaly has been defined. A number of artisanal gold workings have been discovered, from which rock chip assay results have returned grades up to 233 g/t Au. Zolowo hosts a 33km long greenstone belt, a number of drainages from which host significant artisanal alluvial workings.

Cameroon - Iron Ore

The Company holds the 400km2 Bikoula & Ndjele iron ore exploration licences in southern Cameroon through its 97.3% owned subsidiary Aluvance Ltd. The project hosts an independent (JORC 2012 compliant), inferred mineral resource estimate comprising 46Mt @ 44% Fe completed by Coffey Mining South Africa (Pty) Ltd in a report entitled “Mineral Resource Estimation and Classification of the Bikoula Iron Ore Project in Cameroon”. The resource estimate is from less than 25% of the 17km long target as identified from airborne geophysics.

Morocco - Other

The Company holds a further 226km2 across five exploration licence across Morocco, through its 100% owned subsidiary Aterian Resources Ltd. The licences areas are prospective for zinc, lead, copper, tin, tungsten and gold. Grades from these licences include 8.15% Pb, 4.48% Zn, 9.18% Cu and 9.61 g/t Au.

Glossary of Terms

The following is a glossary of technical terms:

“Archaean” means an early part of geological time dating from <4,000 to 2,500 million years ago

“Artisanal” means local people conducting mining, often with rudimentary equipment

"Au" means gold

“Assay” or “Assay results” means the analysis of minerals, rocks and mine products to determine and quantify their constituent parts

"Ag" means silver

"Cu" means copper

“Fe” means iron

“Pb” mean lead

"g/t" means grams per tonne

“Grade(s)” means the quantity of ore or metal in a specified quantity of rock

"m" means metres

"Ma" means million years ago

“Moz” means millions of ounces

“Outcrop” means a visible exposure of rock that is in-situ and has no covering of soil or vegetation

“Shear zone” means a zone in which rocks have been deformed by lateral movement along parallel planes

“Quartz Vein” means a fracture which has been filled by quartz and other minerals which have crystallised from mineralised fluids

“Zn” means zinc

**ENDS**


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