PRESS RELEASE
Brighton Energy Limited completes acquisition of permits
Symbol: "NAC" TSX Venture Exchange
February 17, 2010 -
North Atlantic Resources Ltd. (NAC:TSX:V) ("North Atlantic") is pleased to announce that Brighton Energy Limited
("Brighton") has completed the acquisition of North Atlantic's three
uranium exploration permits in the Republic of Niger, West Africa. Brighton is
a uranium focused explorer with title to 4,000 km� of well located and
prospective ground that contains key geological structures and favorable rocks
that are known to host or control the mineralization at producing uranium mines
in the region. This region, known as the Tim Merso- Basin, currently ranks as
the sixth largest uranium producing area in the world and is expected to become
the second largest by 2012 with production from Areva and China Nuclear. It
still remains as one of the most under-explored yet most prolific uranium
producing districts in the world.
North Atlantic currently holds a 20% equity interest
in Brighton. Orezone Gold Corporation
(ORE: TSX) will be the initial manager and operator of the exploration
programs on the properties. It is intended that Brighton will become an
independently financed, managed and listed public company. The 2010 exploration
program is expected to be US$3M and will include airborne geophysical surveys
followed by ground verification and drilling of the higher priority uranium
targets identified along the major mineralized trends.
Brighton will make use of Orezone's strong presence
and infrastructure in Niger to assist it in becoming a successful uranium
exploration company. This region is on its way to becoming the second largest
uranium producing region in the world by 2012 and Brighton is well positioned
to capitalize on the exploration potential of its extensive land holdings.
North Atlantic is a Canadian gold exploration company which is developing a
portfolio of gold projects in the Republic of Mali, West Africa
("Mali"). Since 2002, the Company has made three important gold
discoveries in Mali including the FT Gold Project ("FT") which is the
Company's most advanced discovery. North Atlantic's current plans are to expand
the resource base at FT while continuing to explore its other gold projects.
Please visit the
Company's website www.nac-tsx.com to view project details and planned
exploration programs.
FOR FURTHER
INFORMATION PLEASE CONTACT:
North Atlantic Resources Ltd.
Scott Waldie, President and CEO
(416) 703-6348
(416) 703-6507 (FAX)
swaldie@nac-tsx.com
Email: info@nac-tsx.com
Website: www.nac-tsx.com
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This press release has been prepared by North Atlantic Resources Ltd. and no
regulatory authority has approved or disapproved the information contained
herein.
ph.:
416-703-6348, fax 416-703-6507, email: info@nac-tsx.com website www.nac-tsx.com
.