Tuesday, 31 January 2012: Altius Mining Limited (ASX:AYM) is pleased to announce the results from its RC percussion drilling programme at its Ropewalk gold deposit in ML 3417, near Forsayth, in North Queensland. These results relate to drill samples taken as part of the present stage of the drilling programme that has now been completed (announced to the market on 8 December 2011).

KEY HIGHLIGHTS:
- 16 holes drilled totalling 698 metres (refer Table 1)
- Drilling intersected chlorite-biotite schist with west-northwest striking and near vertical zones of quartz veins and gold mineralisation (refer Table 2)
- Variations between the original and repeated assays of most samples indicate that the gold is generally coarse grained.

Commenting on the positive assay results received in relation to the current drilling programme at its Ropewalk gold mine, Altius Mining’s Managing Director, Alexander King, said “We are pleased with the initial drilling results at our Ropewalk gold mine. The results achieved are in line with our expectations at the time of the Company’s IPO.”
“Altius Mining is now looking forward to completing further drilling to unlock the potential of its Ropewalk gold mine. With a strong balance sheet and no debt, Altius Mining is well placed to fund its current drilling programme and successfully progress the Company’s growth strategy. We remain on track for the Company’s first gold pour during the first half of this year,” added Mr King.

The better intersections from the drilling results include: 9 metres of 2.76 g/t gold in Hole RWRC 91; 2 metres of 10.31 g/t gold in Hole RWC 92; 12 metres of 4.97 g/t gold in Hole RWRC 93; 5 metres of 3.96 g/t gold in Hole RWRC 93; and 5 metres of 3.96 g/t gold in Hole RWRC 103.

Altius Mining remains in a strong financial position with cash reserves that will enable the Company to complete its forward work programme.

The Company is expecting to announce the commencement of further drilling at its Ropewalk, Just-In-Time and nearby gold deposits, in the near future.

For further information please contact:
Alexander King
Managing Director & CEO
P: 1300 136 453
E: a.king@altiusmining.com.au
or visit www.altiusmining.com.au

The information in this report relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Boyd Pratt who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Pratt is the Principal of Boyd Pratt & Associates. Mr. Pratt has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to be qualified as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Pratt consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.