ATAC RESOURCES LTD. RECEIVES $100,000 AND 1,000,000 SHARES FROM NORTHERN FREEGOLD RESOURCES LTD.
May 6, 2009 — ATAC Resources Ltd. (“ATAC”) (TSX-V:ATC) announces that Northern Freegold Resources Ltd. (“Northern Freegold”)(TSX-V:NFR) has completed its 100% earn-in on the Golden Revenue (includes Nucleus Zone), Seymour and Nitro properties. ATAC retains a 1% net smelter return royalty on production from each property.
Under terms of an amended agreement dated August 22, 2007, Northern Freegold earned 100% interests in all three properties by making cash payments totalling $150,000 and share issuances totalling 1.9 million common shares. Northern Freegold fulfilled its obligations under the agreement by making its final cash payment of $100,000 and 1,000,000 share issuance of Northern Freegold common shares to ATAC.
“Northern Freegold has done an excellent job at the Nucleus Zone by identifying a new type of higher grade gold mineralization and by extending the mineralized strike length of the Zone to over 750 m.” stated Graham Downs, chief executive officer of ATAC. “We look forward to the release of Northern Freegold’s upcoming NI 43-101 compliant resource for the Nucleus Zone and wish them continued success at their Freegold Mountain Project.”
ATAC is a well funded junior mining company focusing on gold. Its business model entails acquiring quality prospects, upgrading them to advanced stage exploration and then attracting strong partners to move them toward production. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC’s website at www.atacresources.com.
Graham Downs, CEO
ATAC Resources Ltd.
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.