NEWS RELEASE

Atlanta Gold Completes Second Tranche of C$5.6 million Financing and Opens New Atlanta Project Office in Boise, Idaho

Toronto, Ontario – Atlanta Gold Inc. (TSX: ATG) announced that it has completed the second tranche of its C$5.6 million non-brokered private placement offering of common shares at C$0.61 per share, previously announced on February 5, 2008. The second tranche of 807,802 common shares at a price of C$0.61 per share, for aggregate gross proceeds of C$492,759 was completed on February 25th, following the initial closing on February 5th which raised gross proceeds of C$4,507,078. Completion of the remaining C$600,000 of the private placement is subject to disinterested shareholder approval which will be sought at the Annual and Special Meeting of Shareholders scheduled for April 24, 2008. The Company will use the net proceeds from the offering to explore and develop its Atlanta gold property (“Atlanta”) located in Idaho, U.S.A. and for working capital purposes.

New Atlanta Project Office

Effective March 1, 2008, the Company will consolidate its engineering, permitting and administrative offices into one office in Boise, Idaho. The new office will provide greater cost efficiency and access to a skilled workforce as the Atlanta project advances toward production. The Boise office will also provide ready access to the project as well as the airport, city centre, highways and other community services.

The new office location is Suite 101, 2417 Bank Drive, Boise, Idaho 83705-2570.

About the Company

Atlanta Gold Inc. (TSX: ATG) holds through its 100% owned subsidiary, Atlanta Gold Corporation, a 100% interest in the Atlanta property which comprises 1,891 acres and is located 65 miles east of Boise, in Elmore County, Idaho. Atlanta is in a historic mining district and is therefore suitable for development of new mining projects. 

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.