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Re: News Releases - Tuesday, July 03, 2007
Atna Reports Pinson Mining Company to Begin Work at Pinson Gold
Project, Nevada
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Vancouver, B.C. (July 3, 2007). Atna Resources Ltd. (ATN:TSX) reports
that Pinson Mining Company (PMC), a wholly owned subsidiary of Barrick
Gold Corporation, has advised Atna that they intend to initiate a work
program at the Pinson gold property in Nevada. PMC stated that work
will consist of underground development and surface and underground
drilling to further delineate the mineral resource defined by Atna
during the course of its earn-in expenditures on the property.
Drilling of other exploration targets separate from the defined deposit
will also be carried out. Work will begin almost immediately and is
expected to carry on through the summer and well into autumn.
Atna previously reported (April 6, 2006 news release) a NI43-101
compliant resource estimate for the Pinson deposit at a cut-off grade
of 0.2 ozs/ton, as follows:
Measured + Indicated: 1,692,000 tons @ 0.42 ozs/ton ( 721,600
contained ozs)
Inferred: 3,097,000 tons @ 0.34 ozs/ton (1,053,700 contained ozs)
Additional drilling was completed after the cut-off date used in
calculating the above estimate. Atna is preparing an updated resource
estimate that will include all drill data from the last program.
David Watkins, President of Atna, said "I am very excited to see the
work program get underway. Pinson is already an economically
attractive opportunity. The additional PMC drilling and underground
work may increase the size of the deposit and may rapidly advance the
project towards a production decision."
Atna has earned a 70% interest in the Pinson property; PMC has 30%.
PMC may increase its interest to 70% and reduce Atna to 30% by spending
US$30 million to advance exploration and development of the property
before April 6, 2009. If PMC fails to complete the earn-back
expenditure within the agreed time, Atna would be reappointed as
Operator and the project would proceed as an Atna (70%), PMC (30%)
joint venture.
For further information, please visit our website, www.atna.com, or
contact:
ATNA RESOURCES LTD., Kendra Johnston, Investor Relations Manager,
Geologist
Tel: (604) 684-2285; E-mail: kjohnston@atna.com
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Copyright (c) 2007 ATNA RESOURCES LTD. (TSE:ATN) All rights reserved.
For more information visit our website at http://www.atna.com/ or send
mailto:info@atna.com
Message sent on Fri July 3, 2007 at 6:50:00 AM Pacific Time
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