Altius Soars on Lithium Bet, Q1 Revenue Jumps 76%

ST. JOHN’S, NL – April 21, 2026 – Altius Minerals Corporation has signaled a period of explosive growth, announcing it expects to report a 76% year-over-year surge in first-quarter attributable royalty revenue. The royalty and streaming company anticipates revenue of approximately $26.4 million for Q1 2026, a significant leap from the $15.0 million recorded in the same period last year, driven by a blockbuster acquisition in the lithium sector and soaring copper prices.

The preliminary results, released ahead of the full financial disclosure on May 12, showcase the immediate and powerful impact of Altius's strategic pivot deeper into minerals critical for the global energy transition. The numbers highlight a company successfully leveraging a diversified portfolio to capitalize on commodity upswings while navigating volatility in other sectors.

A Strategic Bet on Green Metals Pays Off

The most dramatic driver of Altius's stellar quarter is its recent foray into the lithium market. The company's lithium-related revenue skyrocketed to $5.4 million in the first quarter, a monumental increase from a mere $51,000 in Q1 2025. This surge is the direct result of Altius closing its acquisition of Lithium Royalty Corp. (LRC) on March 6, 2026.

The C$520 million transaction, a mix of cash and shares, was a bold, counter-cyclical move made when lithium prices were recovering from a slump. The acquisition added 37 new royalties to Altius's portfolio, with four currently operating and ramping up. The Q1 revenue figures, which include less than a full month of contribution from the LRC assets, suggest the investment is already paying significant dividends.

The newly acquired portfolio includes royalties on world-class assets such as the Goulamina project in Mali and the Grota do Cirilo project in Brazil, both of which are major new sources of spodumene, a critical lithium-bearing mineral. Furthermore, the Finniss project in Australia is expected to restart and begin concentrate shipments in the fourth quarter of this year, promising another future stream of revenue.

Underscoring the success of its lithium strategy, Altius also announced that subsequent to the quarter's end, it received a US$30.5 million distribution from Waratah Capital Advisors. This payment relates to the company's early, foundational investments in LRC, representing a successful full-circle return on its initial venture into the lithium royalty space.

Diversification Cushions and Propels

While lithium captured the spotlight, the strength of Altius's diversified model was evident across its other segments. Base metals, primarily copper, delivered the largest single contribution to the quarter's revenue, coming in at $9.1 million. This performance was fueled by higher realized copper prices, which have seen a strong rally in 2026. Market analysts have become increasingly bullish on copper, with some forecasts projecting average prices to exceed $12,000 per metric ton this year amid a growing supply deficit driven by its essential role in electrification and renewable energy infrastructure.

The company noted that the timing of stream deliveries from its Chapada copper royalty and higher revenue from its Voisey's Bay nickel-cobalt-copper royalty also bolstered the base metals segment.

Potash royalties provided a stable foundation, contributing $4.5 million in revenue. This figure reflects higher realized prices compared to the previous year and consistent production volumes, demonstrating the segment's role as a reliable earner within the portfolio. The steady demand for potash is underpinned by the global need for increased agricultural yields.

Conversely, the report highlighted how a diversified portfolio can mitigate weakness in a single commodity. Iron ore royalty revenue, received as dividends from the Labrador Iron Ore Royalty Corporation (LIORC), fell to $1.6 million. This decline was attributed to lower equity dividends paid by the underlying operator, Iron Ore Company of Canada (IOC), reflecting a softer iron ore market compared to previous years.

Revenue from the company's renewable electricity royalties stood at a healthy $3.6 million. This segment, which Altius has been steadily growing, benefits from the continued ramp-up of operational projects and income generated from financing activities related to grid interconnection. The company also clarified that comparisons to late 2025 should account for non-recurring milestone payments received in Q4 2025, indicating the underlying growth in recurring royalty streams.

The Royalty Model in an Era of Transition

Altius's Q1 performance serves as a powerful case study for the royalty and streaming business model, particularly its effectiveness in gaining exposure to long-term secular growth trends. The company's strategy explicitly targets assets aligned with sustainability, including electrification, renewable energy generation, and food security. The quarter's results demonstrate this strategy in action.

The surge in revenue from copper and lithium directly reflects the booming demand for materials essential for electric vehicles, battery storage systems, and grid modernization. By holding royalties, Altius benefits from commodity price upside and production growth without the direct operational risks, capital costs, or carbon footprint associated with operating a mine.

This model allows the company to act as a specialized financier for the resource sector, deploying capital to secure long-life revenue streams tied to high-margin operations. The successful integration of the LRC portfolio, coupled with the robust performance of its legacy assets, positions Altius as a key vehicle for investors seeking to participate in the financing of the new green economy.

As the world continues its path toward decarbonization, the demand for the commodities in Altius's portfolio is widely expected to intensify. The company's ability to generate strong cash flow from a diverse set of royalties tied to these critical resources underscores the long-term potential of its strategic positioning.