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Re: News Releases - Friday, November 16, 2007
Meridian Gold Commences Drilling Atna's Clover Project
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Vancouver, B.C. (November 16, 2007). Atna (TSX:ATN) is pleased to
announce that Meridian Gold Inc.(TSX:MNG, NYSE:MDG), began drilling on
Atna's Clover project, Elko County, Nevada, on November 14th. Yamana
Gold Inc. (TSX:YRI, NYSE:AUY) currently owns approximately 90% of
Meridian Gold and is in the process of acquiring the balance of
Meridian shares not already own by way of a plan of arrangement.
Meridian informed Atna that a reverse circulation drill is targeting
high grade epithermal vein zones and structures in the southern portion
of the claim block. The holes will follow-up on previous high grade
drill intersections and explore new structural targets.
Meridian plans to drill approximately 12,000 feet in 11 holes and will
continue to work through the remainder of the fourth quarter 2007.
Atna's President and CEO, David Watkins, stated, "We are pleased that
Meridian has planned an aggressive drill program at the Clover project,
targeting high-grade mineralization typical of bonanza vein systems in
the area. Meridian has an impressive track record of discovery in a
similar geological setting at its El Pe��n mine in Chile and has an
experienced geologic team on the Clover project."
The Clover project is a low-sulphidation, vein-hosted, epithermal gold
prospect located in Nevada's Midas mining district within the
prospective Northern Nevada Rift. Clover's geologic setting is similar
to Newmont Mining's Ken Snyder (Midas) mine (1999 published reserves of
2.8 M tons averaging 34.7 g/t Au, 399 g/t Ag). Clover has several
targets that require follow-up work including a geophysical anomaly in
the Jake Creek structural corridor near the occurrence of high-grade
(30.9 g/t) gold bearing float and at the south end of the property
where high-grade gold intersections (25.3 g/t over 9.7m, 7.9 g/t over
7.6m, and 10 g/t over 3m) were identified from previous drilling.
Under the terms of the agreement Meridian can earn a 51% working
interest in the Clover project by making a cash payment of US$135,000
and exploration expenditures of US$300,000 in the first year, and
paying an additional US$500,000 and incurring exploration expenditures
of US$3,000,000 over the following three year period. Meridian can
earn an additional 19% interest by completing a pre-feasibility study
within 30 months of the initial earn-in.
This press release was prepared under the supervision and review of
William Stanley, V.P. Exploration of Atna, a Licensed Geologist, and
Qualified Person with the ability and authority to verify the
authenticity and validity of information contained within this news
release.
For further information and the forward looking statement, 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 Thu Nov 16, 2007 at 7:30:00 PM Pacific Time
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