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Re: News Releases - Monday, August 24, 2009
Atna Receives Approval for Development of Reward Gold Mine
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Golden, CO - Atna Resources Ltd. ("Atna") - (TSX:ATN) is pleased to
announce that the US Bureau of Land Management has signed the Record
of Decision and Finding of No Significant Impact to approve development
of the Reward Gold Project located near Beatty, Nevada.
"This decision is a major milestone and a positive outcome for the
development of Reward. We look forward to breaking ground on the
project and have initiated discussions with various groups to arrange
project financing for construction," states James Hesketh, President &
CEO.
The Reward operation is expected to produce approximately 126,000
ounces of gold over a five year mine life at an estimated average cash
cost of US$435 per ounce of gold produced. This production would
provide an undiscounted cash flow of US$34 million at a US$850 gold
price. Gold production from Reward combined with production at the
existing Briggs Gold Mine should yield the Company an annual gold
production rate of 70 - 90 thousand ounces annualized by 2010 year end.
Work is ongoing with state agencies to finalize reclamation bond
calculations and other required permits. Major permits, including the
Class II Air Quality Operating Permit, Water Pollution Control Permit,
and a Permit to Change Point of Diversion, Manner of Use and Place of
Use of The Public Waters, were previously issued by the State of
Nevada.
The Company completed a positive economic feasibility study for the
Reward Gold Project in March 2008. The feasibility study demonstrated
an attractive return on investment from development of a conventional
open pit mining, ore crushing, and heap leach gold production
operation. Operating synergies and cost benefits from the nearby Briggs
Mine will positively impact the operation. Details are contained in a
technical report dated March 21, 2008, prepared by Chlumsky, Armbrust &
Meyer, LLC., titled "NI 43-101 Technical Report - Reward Gold Project,
Nye County, Nevada," which is available on SEDAR at www.sedar.com.
Proven and probable mineral reserves estimated in the feasibility study
total 6.4 million tons averaging 0.024 ounce per ton containing 157,000
ounces of gold based on a gold price of US$700 per ounce, a cut-off
grade of 0.01 ounce per ton and a strip ratio of 2.2 tons of waste per
ton of ore. The feasibility study includes capital costs for crushing
and process plants, facilities and infrastructure, mining fleet and
pre-production stripping of US$25.4 million. Undiscounted pre-tax net
cash flow changes by US$12.5 million for each US$100 change in gold
price without allowance for reserve expansion. Final reclamation and
closure cost, which is included in overall production cost, is
estimated at approximately US$2.5 million and the cost for reclamation
and closure bonds is estimated to be approximately US$5.1 million. The
Reward deposit remains open for expansion both along strike and
down-dip.
Mining operations at Reward would utilize conventional 100-ton open pit
trucks and compatible loaders. Mined ore will be crushed to minus 3/8
inch and placed on a lined pad for leaching and gold recovery. The gold
contained in process solutions will be extracted by the carbon recovery
process with the loaded carbon subsequently transported to either the
Briggs Mine in Inyo County, California, or to a third party processing
facility for production of dor� containing gold and silver.
About Atna
Atna is a rapidly growing gold production and development company with
operations focused in the western United States. Atna's Briggs Mine in
Inyo County, California, began producing gold in May 2009. Sales of
approximately 1,955 ounces of gold ensued in the balance of the second
quarter. Production at Briggs is expected to ramp up to a 40,000 ounce
per year rate by year end 2009. In addition, Atna has a portfolio of
advanced stage development and exploration projects, including:
.. Pinson Gold Mine in Nevada, a joint venture with Barrick Gold (70
percent) and Atna (30 percent), where Barrick is evaluating
possibilities to develop the mine.
.. Columbia Gold Project in Montana, where Atna has retained Gustavson
Associates of Lakewood, Colorado to complete an NI43-101 compliant
resource estimate.
.. Reward Gold Project, as reported above.
.. Carried interests in eight exploration projects in North and South
America.
For additional information on Atna Resources and the Reward Project,
please visit our website at www.atna.com.
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 successful completion of permitting and project financing
for the Reward Gold Project, production at the Briggs Mine, development
of the Pinson Gold Project and completion of an NI 43-101 compliant
resource study for Columbia. Forward-looking statements are statements
that are not historical fact. 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. Factors that could cause future results to differ materially
from those anticipated in these forward-looking statements include: 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; 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 2008 Form 20-F dated March 31, 2009.
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.
FOR FURTHER INFORMATION, CONTACT:
James Hesketh, President and CEO - (303) 278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
www.atna.com
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Copyright (c) 2009 ATNA RESOURCES LTD. (TSX:ATN) All rights reserved.
For more information visit our website at http://www.atna.com/ or send
mailto:info@atna.com
Message sent on Mon Aug 24, 2009 at 6:01:37 AM Pacific Time
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
CODE : ATN.TO |
ISIN : CA04957F1018 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Atna Resources est une société développant des projet miniers de zinc et d'or basée au Canada. Atna Resources est en développement de projets de zinc, d'or, d'argent, de cuivre et de plomb au Canada, et détient divers projets d'exploration au Canada. Son principal projet en production est BRIGGS en USA, son principal projet en développement est WOLVERINE au Canada et ses principaux projets en exploration sont KENDALL GOLD MINE, CONVERSE, ATLANTA (NEVADA), MOUNT EDNA, CLOVER, WOLF PROPERTY, TRAM PROSPECT, SAND CREEK JV, TREE PROPERTY, WHITE BULL, BEOWAWE, TY, UDUK, JARBRIDGE, ECSTALL PROPERTY, CONVERSE & SAND CREEK URANIUM, TRIPLE JUNCTION, GOLDTOOTH - BRIGGS, SEVEN-UP PETE GOLD, COLUMBIA PROPERTY, REWARD PROPERTY, PINSON, MT. EDNA et MCDONALD au Canada et CACHINAL et CELESTE au Chili. Atna Resources est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 2,4 millions (1,7 millions US$, 1,6 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 2,56 , et son plus bas niveau récent le 29 décembre 2015 à 0,05 . Atna Resources possède 47 442 200 actions en circulation. |