TNR Gold Announces Altius' Boost of Its Strategic Stake

Altius Minerals Corporation purchased an additional 7,435,000 shares of TNR Gold on the public market at CAN$0.23 per share on July 17, 2026. The transaction increases Altius's total strategic holding to 30,935,000 shares, representing approximately 14.5% of the issued and outstanding shares. This purchase follows a previously announced private placement in May 2026 where Altius acquired 23,500,000 shares for gross proceeds of $4.17M.

Executive Chairman Kirill Klip welcomed the increased stake, citing it as validation of the company's royalty-focused strategy and asset quality. The transaction is a secondary market purchase; proceeds went to selling shareholders, not to TNR Gold's corporate treasury.

Altius’s acquisition of a larger stake in TNR Gold Corp. (TNR) serves as a direct follow-up to the company’s May 2026 strategic financing, aligning with market expectations that Altius is building a long-term position. The transaction reinforces institutional confidence in TNR’s Mariana Lithium and Los Azules Copper royalty assets, providing a positive sentiment catalyst. Additionally, the increased stake helps counterbalance activist pressure from Eucalyptus Resources, which holds approximately 14.6% of the company, as Altius maintains a five-year voting agreement supporting management and board nominees.

The $0.23 purchase price sits slightly above the recent trading range, indicating sustained demand, though it does not represent a premium valuation breakthrough. The transaction does not inject new capital into TNR Gold, leaving the immediate liquidity crunch and going concern uncertainty unchanged.

TNR Gold Corp. (TNR) operates as a green energy metals royalty and gold company, transitioning from a project generation junior to a cash-flow-generating royalty entity. The company holds a 1.5% NSR royalty on the Mariana Lithium Project in Argentina, with 0.45% retained after a potential repurchase by a Ganfeng subsidiary. Ganfeng commenced production in February 2025 and completed its first export in February 2026.

TNR also holds a 0.4% NSR royalty on the Los Azules Copper Project in Argentina, which is being developed by McEwen Copper. McEwen Copper secured a positive feasibility study indicating a $2.9 billion post-tax NPV and a 19.8% IRR, and achieved inclusion in Argentina's RIGI incentive regime.

In Alaska, TNR holds a 90% interest in the Shotgun Gold Project, a porphyry project containing 705,960 oz of inferred gold resources. Management is actively seeking a joint venture with a major gold producer. Additionally, the company holds a 7% NPR royalty on the Josemaria/Batidero Project in Argentina, properties developed by a joint venture between Lundin Mining and BHP.