June 20, 2006 - ATAC Resources Ltd. (the “Company”) announces that it has negotiated, subject to regulatory acceptance, a $460,000 private placement through Quest Securities Corporation (the “Finder”). The private placement consists of the sale of 2,000,000 units at a price of $0.23 per unit. Each unit consists of one common share and one non-transferable share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share at a price of $0.30 for a period of two years from the closing of the private placement. If after the expiry of all resale restrictions the closing price of the Company’s shares on the TSX Venture Exchange is $0.45 or greater for a period of 20 consecutive trading days, the Company may give notice of an earlier expiry of the warrants in which case they will expire 21 days after the giving of such notice.
The Finder will receive a cash commission of $32,200. In addition, the Finder will receive a warrant entitling it to subscribe for 200,000 common shares of ATAC Resources Ltd. at a price of $0.23 per share for a period of two years from the closing of the private placement.
All of the securities issued in connection with the closing of this private placement, including securities issued in payment to the Finder, will be subject to a hold period in Canada until four months after the closing of the private placement.
The proceeds from this private placement will be used for mineral exploration in the Yukon and for general working capital.
For information concerning ATAC or its properties please visit www.atacresources.com or contact Graham Downs at 604-688-2568 or 1-800-598-4155.
ATAC RESOURCES LTD.
Per: Robert C. Carne, President
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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