Gold Project Optioned
January 28, 2004
W. Douglas Eaton, President, is pleased to announce an option agreement with Yale Resources Ltd. for ATAC’s Golden Revenue property in central Yukon. Under terms of the agreement Yale can earn up to a 70% interest in this drill ready, road accessible gold project.
To earn an initial 50% interest in the property, Yale must pay ATAC $60,000, issue it 300,000 Yale treasury shares and make $2,000,000 in exploration expenditures over a three year period. After earning its 50% interest, Yale will have the option of earning a further 20% interest in the property by issuing ATAC an additional 700,000 of its treasury shares and producing a bankable feasibility study by February 15, 2010.
The Golden Revenue is one of several gold projects owned by ATAC. This option meshes well with ATAC’s business strategy which is to recognize quality gold targets, to acquire and advance these targets and then to seek aggressive partners to conduct advanced exploration and development. ATAC has an experienced geological team that is researching two large, private data bases covering most of the northern Cordillera and has recently entered into a joint venture to evaluate opportunities in China.
For more information regarding ATAC Resources or its projects please contact Doug Eaton or Al Archer at 604-688-2568
ATAC RESOURCES LTD.
Per: W. Douglas Eaton, President
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