Not sure how the 'other' ingredients (gum arabic, etc.) would affect the situation. Overall though, original Altoids are just basically sugar and oil of peppermint. I had read somewhere that the formula was changed at some point and there are other flavorings besides just the old fashioned oil of peppermint.
FWIW, you can just buy peppermint leaves? They aren't terribly expensive, given who knows exactly how many altoids you'd need...I looked at one of my go-to websites for this sort of thing (www.wildweeds.com
) and they have 4 oz for $6.