Toronto, Ontario – Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) announces that it mobilized three drill rigs and crews in June and that its 2011 exploration program is well underway at its Atlanta Gold Project currently in development near Atlanta, Idaho. The targets for this phase of drilling are the three principal gold zones at the Monarch, Idaho and East Extension areas. Assay results from the first 8,000 feet (2,438 metres) of core drilling are pending and are expected by the end of July.
The objectives of the Company’s 2011 program are to upgrade the confidence category of resources defined during previous drill campaigns, increase the known resource and further refine the geological model. Subject to the availability of financing, the Company expects to extend the mineralized system, complete in-fill and definition drilling in preparation for an updated Block Model by the fall and an updated NI 43-101 resource estimate by the year-end.
Exploration work to date has demonstrated the presence of a significant gold mineralized system. All previously drilled intermediate depth holes (to a vertical depth of 1,000 to 2,000 feet (305 to 610 metres) below the surface) have intercepted epithermal style mineralization across attractive widths.
Information of a technical nature in this news release regarding the Atlanta gold project has been reviewed by William (Bill) L. Josey who is a designated “Qualified Person” under NI 43-101. Mr. Josey is a registered professional geologist in the State of Arizona.
Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 874 hectares 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 time to obtain assay results and the extent of the exploration program to be completed in 2011. 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 ability to achieve operating cost estimates and the accuracy of our resource estimates and the geological, metallurgical and price assumptions upon which the estimates are based. 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.
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