Revelo Resources Corp. (TSX-V:RVL) is pleased to announce that it has agreed on the principal terms and conditions with Altius Minerals Corporation’s (TSX:ALS) 49% owned Chilean subsidiary BLC SpA upon which Revelo will purchase from BLC four properties totalling more than 56,000 Ha in Northern Chile.
 

Prior to or concurrently with the completion of the Acquisition, Revelo and BLC will complete a private placement of 5,000,000 units of Revelo for proceeds of C$750,000 at C$0.15 per unit. Each unit will consist of one common share of Revelo and one non-transferable common share purchase warrant to purchase one common share of Revelo for three years at C$0.20. The proceeds from the Placement will be used to fund Revelo’s exploration of the Properties.
 

“Revelo continues to deliver on the expansion of its portfolio of high quality exploration properties in Chile and we are delighted to have added Altius to our strong shareholder base,” said Tim Beale, President & CEO of Revelo. “Altius is a major player in the prospect generator and royalty business, and brings significant value add to Revelo as a shareholder and strategic partner in Chile. This is an important affirmation of Revelo’s business model and property portfolio in Chile.”
 

“Altius, through a 49% owned subsidiary, has been assembling exploration projects and assessing investment opportunities in Chile for the past several years. We are excited to begin this complimentary project generation and royalty creation focussed business relationship with Revelo, which has emerged as a premier project generator in Chile and as a consolidator of the sector in this top global mining jurisdiction,” commented Brian Dalton, President and CEO of Altius.
 

The Properties are all relatively early stage exploration projects. Loro en el Hombro is a property prospective for gold-silver veins and is located 25 kilometres south of Yamana Gold’s El Penon gold-silver mine and directly east of Revelo’s Las Pampas property, currently optioned to a subsidiary of Kinross Gold. Morsas is a large property located along the IOCG belt approximately 50 kilometres southwest of Lundin Mining’s Candelaria copper-gold mine. Culebra and Anaconda are properties that augment Revelo’s already considerable land position along the Eocene-Oligocene porphyry copper belt, and are located 60 kilometres south of BHP Billiton’s Escondida mine along the Domeyko fault system near Revelo’s Block 3 and Block 4, respectively.
 

ABOUT THE ACQUISITION
 

As part of the Acquisition Revelo will:

1.  Issue 2,659,574 common shares of Revelo (the "Acquisition Shares") at a

    price of C$0.094 per share;

2.  Issue BLC 500,000 common shares (the "Feasibility Shares" and, together

    with the Acquisition Shares, the "Revelo Shares") on completion of the

    first feasibility study on any one of the Properties (in respect of all

    of the Properties, no matter how many feasibility studies may be

    completed); and 

3.  Grant BLC a royalty of 2% of net smelter returns from commercial

    production of precious metals and 1% of net smelter returns from

    commercial production of base metals from each of the Properties (the

    "Royalties"). Revelo will have the right to purchase one-half of the

    Royalties in respect of each of the Properties for C$5 million, which

    right will be exercisable for a period of five years following the

    commencement of commercial production of mineral products from each of

    the Properties.

A Letter of Intent has been signed between the two companies detailing the terms and conditions of the Acquisition. The companies will strive to arrive at a definitive agreement no later than May 25, 2015.
 

The closing of the Acquisition is subject to: (i) delivery by BLC of all of the information regarding the Properties; (ii) the results of due diligence of the Properties being satisfactory to Revelo; (iii) receipt of the approval of the Acquisition by the board of directors of Revelo; (iv) receipt of acceptance by the TSX Venture Exchange (the “Exchange”) of the Acquisition and the Placement, including the listing of the Revelo Shares on the Exchange; (v) completion of the Placement; and (vi) no material adverse changes will have occurred in the Properties.
 

ABOUT REVELO

Revelo is building a sustainable exploration business focused on securing prospective land along the prolific mineral belts of northern Chile, and by implementing effective exploration and capital management strategies to grow, advance and de-risk its portfolio to provide shareholders with multiple opportunities for exploration success.
 

Revelo is a Canadian company formed from the merger of Iron Creek Capital Corp. and Polar Star Mining Corporation in December 2014. Revelo controls approximately 300,000 Ha of 100% owned exploration tenement along proven mineral belts in northern Chile. The portfolio is comprised of 17 high-quality exploration projects prospective for copper, gold and silver, including 3 projects already under option/JV agreements with Kinross (Las Pampas Project), Newmont (Montezuma Project), and BHP Billiton (Block 2 Project). In addition, Revelo retains a 2% royalty interest in the Victoria Project, an important copper-gold-silver exploration project in northern Chile.
 

Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), an independent consultant, is Revelo’s Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators, and has approved the written disclosure of the technical information contained in this news release.
 

ABOUT ALTIUS

Altius is a diversified mining royalty company with royalty interests in 12 producing mines located in Canada. The royalty interests include mining operations that produce thermal (electrical) and metallurgical coal, potash, nickel, copper and cobalt.
 

Altius holds other significant pre-development stage royalties and its project generation pipeline contains a diversified portfolio of exploration stage projects and royalties, many of which are being advanced through various partner-funding arrangements.
 

Altius has 32,356,826 shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
 

ABOUT BLC

BLC is a private Santiago-based exploration company, wholly owned by Mining Equity Fund of which Altius is the largest shareholder with a 49% interest. BLC has a 100% interest in the Properties that are the result of systematic regional project generation programs and were staked in 2014. BLC benefits from the financial support of the Fenix Fund under the Chilean economic development agency Corfo.