Atna Reports Third Quarter Development
Progress at Pinson
Atna Resources Ltd. ("Atna"
or the "Company") (TSX:ATN/OTCBB:ATNAF) is
pleased to update the status of development at its underground Pinson Mine near
Winnemucca, Nevada. Significant progress was made during the third quarter of
2012, including:
- The second access into the mine
was completed in June, and the spiral decline has been driven an
additional 370 feet, providing access to two ore mining areas. A total of
440 feet of ore stope access has been completed.
- Year to date ore production
from development now totals approximately 3,390 tons at an average grade
of 0.41 oz/ton. Ground conditions in the ore
mining areas have been good.
- Boart-Longyear
started underground RC drilling for stope
delineation in early October and eighteen drillholes
have been completed for a total of 1,420 feet. Assay
results on this drilling are pending.
- A temporary Cemented Rock Fill
(CRF) plant is being built for use in backfilling ore mining areas and a
permanent CRF plant has been designed. A mobile crushing plant is being
set up on site to crush CRF aggregate.
- Power lines have been extended
to provide power to additional de-watering wells and the crusher location.
A second dewatering well was commissioned in September and quotes are
being received to add a third well.
- An assay lab is under
construction and is expected to be completed in early December. Assay
services are presently being provided by a third party lab. Expansion of
the lined ore stockpile area is also underway to contain mined sulfide
ore.
- The Nevada Division of
Environmental Protection, Application for Major Modification to the Water
Pollution Control Permit, has been declared administratively complete and
is currently under technical review with approval expected by the end of
the year.
- In July, approximately 1,550
tons of oxide ore was shipped to Newmont Twin Creeks
oxide mill for processing. The ore contained 548 ounces of gold at and average grade of 0.353 oz/ton.
Recovery by the mill was 92.6% of contained gold. Atna
received approximately $600,000 for this ore sale which will be credited
against capital in the third quarter.
- All department head positions
at Pinson have been filled. Atna now has 13
full-time employees on site. DMC Mining Services, the contract mining
company, has 32 full-time employees on site, and they have mobilized the
major equipment needed for underground mining.
"Mine development at Pinson
remains on track for gold production in 2013. The goal is to ramp-up production
through 2013 to a target level production rate of 90,000 to 100,000 ounces gold
per year by early 2014. Substantial progress is being made in all areas. The
management team at Pinson is to be congratulated on their strong performance in
moving this project forward," states Jim Hesketh,
President and CEO.
As outlined in the Pinson Technical Report, the Company expects the Pinson
Underground mine to have a six-year mine life. These projections are based on
existing proven and probable reserves and do not include conversion of any of
the additional gold resource to reserve. Approximately 550,000 ounces of gold
will be produced at an average rate of approximately 90,000 ounces per year.
Between ten and fourteen working faces will need to be developed in the mine to
achieve these production goals. Ramp-up of production will occur over the next
two years. Additions of manpower and equipment will continue to be added as
working faces are established.
For additional information on Atna Resources and the
Pinson Gold Mine, please visit our website at www.atna.com or our filings with Canadian securities regulators on
SEDAR or U.S. regulators on EDGAR.
This press
release contains certain "forward-looking statements," as defined in
the United States Private Securities Litigation Reform Act of 1995, and within
the meaning of Canadian securities legislation relating to the Pinson Mine.
Forward-looking statements are statements that are not historical facts. They
are based on the beliefs, estimates and opinions of the Company's management on
the date the statements are made and they involve a number of risks and
uncertainties. Consequently, there can be no assurances that such statements
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. The Company undertakes no
obligation to update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change, unless required by law.
Factors that could cause future results to differ materially from those
anticipated in these forward-looking statements include: gold deposit modeling,
development and future operating costs at the Pinson Mine; the Company might
encounter problems such as the significant depreciation of metals prices;
accidents and other risks associated with mining exploration and development
operations; the risk that the Company will encounter unanticipated geological
factors; the Company's need for and ability to obtain additional financing; the
possibility that the Company may not be able to secure permitting and other
governmental clearances necessary to carry out the Company's exploration and
development programs; and the other risk factors discussed in greater detail in
the Company's various filings on SEDAR (www.sedar.com) with Canadian securities
regulators and its filings with the U.S. Securities and Exchange Commission,
including the Company's 2011 Form 20-F dated March 26, 2012.
Cautionary Note to U.S. Investors - The United States Securities and Exchange
Commission permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can economically and
legally extract or produce. We use certain terms in this report, such as
"measured," "indicated," "inferred," and
"resources," that the SEC guidelines strictly prohibit U.S.
registered companies from including in their filings with the SEC.