Toronto, Ontario – Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) announces that, under the terms previously announced in its news release dated April 20, 2011, the Company’s wholly-owned subsidiary, Atlanta Gold Corporation has completed the purchase of a 5.58-acre property in Boise, Idaho. The Company issued 2,066,829 common shares in part payment of the purchase price and such shares are subject to a four month statutory hold period.
“Acquired on favourable terms, this new property has excellent highway and rail access and will be developed as a corporate office, warehouse, training centre, truck depot, marshaling yard, service centre and the turnaround for goods going to and from the Atlanta Mine,” said Bill Baird, President and CEO of the Company.
“Management has taken steps to prepare for production at Atlanta, as opportunities present themselves. This approach has provided significant savings on substantial purchases of buildings and equipment, which have been completed well ahead of schedule. Advanced preparations for the construction and operational phases are drawing near as we continue to exceed our annual resource growth targets through exploration, and continue to make significant steps towards our goal to build and open the Atlanta Mine for gold and silver production by 2014.”
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometres) located 60 air miles (90 air kilometres) north east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects. The Company is focused on advancing its core asset, Atlanta, towards mine development and production.
This news release contains forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements. We use words such as “may”, “intend”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology to identify forward-looking statements, including with respect to the expected use of the property, the construction and operation of a mine at the Atlanta Project and the timing thereof . Such are based upon assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the availability of adequate financing, the accuracy of our resource estimates and of the geological, metallurgical and price assumptions on which those estimates are based and the ability to achieve operating cost estimates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include, but are not limited to, insufficient funding or delays in raising additional financing on satisfactory terms, the speculative nature of mineral exploration, development and mining (including uncertainties with respect to the interpretation of geology, continuity, size and grade estimates and recoverability of mineral reserves and resources); operational and technical difficulties which could increase operating and/or capital costs; risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, changes in laws or regulations and the risk of obtaining necessary licenses and permits; fluctuations in resource prices and in currency exchange rates; changes in general economic conditions and in the financial markets; as well as other risks and uncertainties which are more fully described in the Company’s annual and quarterly Management’s Discussion and Analysis and in other Company filings with securities and regulatory authorities which are available at www.sedar.com. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements.
Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions and other factors are not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
For further information contact:
Atlanta Gold Inc.:
Investor Cubed Inc.:
CHF Investor Relations:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.