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Re: News Releases - Thursday, October 09, 2008
Drilling Commences at Atna's Clover Project
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Golden, CO -- Atna Resources Ltd. ("Atna") - (TSX:ATN) has been
informed by Yamana Gold Inc. (TSX:YRI) (NYSE:AUY) that it has commenced
a second round of drilling on Atna's Clover project in Elko County,
Nevada. Yamana's program at the Clover project will include up to 10
reverse circulation rotary drill holes (8,000 to 9,000 feet) to
follow-up the encouraging gold and silver results intersected in the
2007 drilling. In 2007, Yamana cut several zones of gold mineralization
in the Clover Hill target area including:
 35 feet grading 0.321 ounce per ton ("opt") gold and 0.54 opt
silver (hole CV006) and,
 25 feet grading 0.03 opt gold and 7.97 opt silver (hole
CV007).
The current program will focus on expansion of this zone and test new
target areas on the property.
The Clover project is a low-sulphidation, vein-hosted, epithermal gold
prospect located adjacent to the Midas Trough within the Northern
Nevada Rift. Clover's geologic setting is similar to Newmont Mining's
Ken Snyder (Midas) mine, which is in a similar package of volcanic
rocks adjacent to the Midas Trough 10 miles further east. Additional
targets to be tested on the property include a geophysical anomaly in
the Jake Creek structural corridor near the occurrence of high-grade
gold bearing float located one to 1.5 miles north of the Yamana
drilling done in 2007.
Yamana may earn a 51 percent interest in the Clover property by
incurring exploration expenditures of US$3,300,000 and making payments
to Atna totaling $635,000 before June 19, 2010. Yamana may elect to
increase its interest to 70 percent by completing a prefeasibility
study within 30 months of vesting in its initial 51 percent interest in
the project.
Yamana is a Canadian gold producer with significant gold production,
gold development stage properties, exploration properties, and land
positions in Brazil, Argentina, Chile, Mexico, Central America and the
United States. Yamana is producing gold and other precious metals in
addition to significant copper production. Company management plans to
continue to build on this base through existing operating mine
expansions, the advancement of its exploration properties and by
targeting other gold consolidation opportunities in Brazil, Argentina
and elsewhere in the Americas.
Atna is an emerging gold producer with mine development currently
underway at its Briggs Mine in Inyo County, California, and is in the
advanced stages of mine permitting at the Reward project in Nye County,
Nevada. Additionally, Atna holds a 70 percent interest in the Pinson
Mine project in Humboldt County, Nevada where Barrick Gold is investing
$30 million to earn an additional 40 percent interest.
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 additional information on Atna Resources, 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 the timing of placing the Briggs Mine into operation,
permitting of the Reward Project and Barrick Gold earning its earn-in
at the Pinson Mine. 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; the possibility that the
Company may not be able to secure permitting and other governmental
clearances necessary to carry out the Company's mine development plans;
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 Form 20-F dated March 25, 2008.
FOR FURTHER INFORMATION, CONTACT:
Valerie Kimball, Investor Relations -- (303) 278-8464 or toll free
(877) 692-8182
James Hesketh, President and COO -- (303) 278-8464
www.atna.com
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Copyright (c) 2008 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 Wed Oct 8, 2008 at 8:29:10 PM Pacific Time
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