Atomic Minerals Ltd.

Published : April 23rd, 2008

Cancels Plans for Additional Acquisitions in Colorado

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Keywords :   Capital Markets | Malawi | Tanzania | Uranium |

Atomic Cancels Plans for Additional Acquisitions in Colorado

April 21, 2008 - Vancouver, B.C.:  Atomic Minerals Ltd. (ATL: TSX-V) announces that it will not be proceeding with the acquisition of the mineral claims set out in the letter of intent (the "LOI") entered into on June 12, 2007 with Mayan Minerals Ltd. ("Mayan") and Kee Nez Resources, LLC ("Kee Nez").  "Given the current state of the capital markets for junior uranium companies, and with the high cost of maintaining claims in the State of Colorado, the board of directors of Atomic felt it prudent to focus on the Company's exceptionally promising Tanzanian properties as well as continuing exploration on the Company's significant existing Colorado land package on the Dolores Anticline," said Warren McIntyre, Chief Executive Officer.

Under the terms of the LOI, Mayan and Kee Nez are obligated to repay all funds advanced by Atomic during the term of the LOI for the staking and maintenance of the Claims.  The companies are cur rently negotiating the terms under which this repayment will take place.

About Atomic Minerals

Tanzania

Atomic holds an option to earn up to a 100% interest in a land package totalling approximately 3800 square kilometres located in the United Republic of Tanzania (the "Properties") from Geo Can Resources Company Ltd. ("Geo Can").  The largest of the Properties are located in south-western Tanzania and are considered to be part of the "Malawi Extension" based on the location of the Property relative to blocks earmarked as potentially favourable for uranium enrichment.  The Malawi Extension, located in the Republic of Malawi on south-west border of Tanzania, hosts the Kayelekera deposit which Paladin Resources is currently developing into a mine.  Other mining companies exploring in the area include Mantra Resources and Western Metals (both in Tanzania).

Colorado

Atomic Minerals Ltd. also hol ds leases over a total of 932 mining claims located in both Dolores and San Miguel counties in south-western Colorado, approximately 30 miles from Denison Mine Corp's White Mesa Mill.  Atomic also holds leases over an additional 272 mining claims located in the northern part of Colorado in Grand County.  

On Behalf of the Board of Directors

"Warren McIntyre"
Warren McIntyre

President and Chief Executive Officer
ATOMIC MINERALS LTD.

Renmark Financial Communications Inc.
Jason Roy : jroy@renmarkfinancial.com
Victoria Stepanova : vstepanova@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Data and Statistics for these countries : Malawi | Tanzania | All
Gold and Silver Prices for these countries : Malawi | Tanzania | All

Atomic Minerals Ltd.

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Atomic is a uranium exploration company based in Canada.

Atomic holds various exploration projects in Tanzania.

Its main exploration properties are NINO PERDIDO, LACHIGUIRI and TAVICHE in Mexico and MBINGA in Tanzania.

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Annual reports of Atomic Minerals Ltd.
Annual Report 2007
Option Grants of Atomic Minerals Ltd.
4/29/2008Grants Stock Options
3/17/2008Grants Stock Options
Nominations of Atomic Minerals Ltd.
4/23/2008Appoints Peter Chadwick as Vice-President Exploration, Afric...
Project news of Atomic Minerals Ltd.
2/17/2011Arco Resources Exhibiting at the Phoenix Resource Investment...
11/4/2008(Mbinga)Tanzania Projects - Exploration Update
1/30/2008(Mbinga)Announces Approval of 43-101 Report for 1761 Sq. Km. Mbinga ...
Corporate news of Atomic Minerals Ltd.
9/25/2008Tanzania Projects - Exploration Update
9/16/2008SRK Consulting Completes Preliminary Reconnaissance of Porti...
8/27/2008and Everett Resources Announce Signing of Letter of Intent f...
7/9/2008Tanzania Projects - Recent Exploration Developments
4/23/2008Cancels Plans for Additional Acquisitions in Colorado
3/26/2008Signs Exploration Services Contract in Tanzania
2/28/2008 Signs Final Letter of Intent to Acquire Tanzanian Property ...
2/21/2008TSX Venture Exchange Approves Tanzanian Property Acquisition
1/28/2008Atomic Signs Final Letter of Intent to Acquire Over 940,000 ...
12/20/2007John Sutherland To Join Board Of Directors Of Atomic - Amend...
12/6/2007Provides Progress Update on Drilling Program on Dolores Anti...
11/15/2007Drilling Commences on 1st Transect of Dolores Anticline, Col...
11/14/2007 Receives Confirmation to Begin Immediate 30,000 Foot Drilli...
10/3/2007Signs Letter of Intent to Acquire Tanzanian Property Package
9/25/2007Submits Notice of Intent to Initiate Exploration and Drillin...
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