May 1, 2007
Toronto Stock Exchange  "ATG"

NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Atlanta Gold Completes C$3 million Financing

Toronto, Ontario – Atlanta Gold Inc. (TSX: ATG) announced that it has completed the private placement offering, previously announced on April 16, 2007, of 3,422,000 common shares at a price of C$0.90 per share for aggregate gross proceeds of C$3,079,800. The Company paid agent’s fees of C$173,988 in connection with the offering. The Company will use the net proceeds from the offering to explore its Atlanta gold property (“Atlanta”) located in Idaho, U.S.A. and for working capital purposes.

The Company also advised that the previously announced independent NI 43-101 technical report commissioned to provide an updated resource / reserve estimate at Atlanta using prevailing gold and silver prices, is expected to be available in June 2007.

About the Company

Atlanta Gold Inc. (TSX: ATG) holds through its 100% owned subsidiary, Atlanta Gold Corporation, a 100% interest in Atlanta which comprises 1,891 acres and is located 65 miles east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for the development of new mining projects. Atlanta was historically mined from at least 24 underground adits when the gold price was US$20 - $35 per ounce.
The Company is focused on advancing its core asset, Atlanta, towards mine development and production and on acquiring, exploring and developing other attractive gold projects.