VANCOUVER, Aug. 11, 2022 - ATAC Resources Ltd. ("ATAC") (TSXV: ATC), (OTCQB: ATADF) announces that all items of business were approved by the shareholders at its 2022 Annual & Special General Meeting held on August 10, 2022.
All incumbent director nominees were re-elected and Graham Downs was elected to the board of directors for the first time. Douglas Goss, ATAC's former Director and Chairman, did not seek re-election in order to focus on other business interests.
"On behalf of ATAC, I would like to extend a special thank you to Doug for his longstanding commitment to the company, having been a director since 2000," stated ATAC's President and CEO, Graham Downs. "Doug's guidance and commitment to strong corporate and fiscal governance throughout the years have been invaluable. We wish Doug continued success in his current and future endeavors."
Following the meeting, the directors elected Robert Carne as Chairman of the Board. Mr. Carne has been a board member since ATAC's inception and is the former President of the company. Mr. Carne also chairs ATAC's Technical Committee and sits on the Compensation Committee.
"I am excited to step into the role of ATAC's Chairman at a time when we have significant discovery potential at numerous copper and gold projects. ATAC has an experienced and efficient team, is well financed and has a balanced pipeline of projects that I believe will generate value for our shareholders."
ATAC is a Canadian exploration company focused on exploring for gold and copper in Yukon, BC and Nevada. Work on its ~1,700 km2 Rackla Gold Property in Yukon has resulted in the Osiris Deposit Indicated Resource of 732,000 oz of gold at 4.12 g/t (in 5.5 Mt) and Inferred Resource of 1,044,000 oz of gold at 3.47 g/t (in 9.4 Mt), the Tiger Deposit Measured & Indicated Resource of 464,000 oz of gold at an average grade of 3.19 g/t (in 4.5 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of $118.2M and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC is well-financed with approximately $7.5 million in working capital.
The technical information in this news release has been approved by Andrew Carne, M.Eng., P.Eng., VP Corporate & Project Development for ATAC and a qualified person for the purposes of National Instrument 43-101.
On behalf of ATAC Resources Ltd.
Graham Downs, President and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.
Cautionary Note to U.S. Investors concerning estimates of Measured, Indicated, and Inferred Resources:
The mineral resource estimates included in this press release have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The United States Securities and Exchange Commission (the "SEC") has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements. U.S. investors are cautioned that the disclosure the Company provides on its mineral properties in this news release may be different from the disclosure that an issuer subject to SEC reporting requirements would otherwise be required to provide. Therefore, the information contained in this news release containing descriptions of the Company's mineral properties may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.
Additional information about the Tiger Deposit PEA is summarized in ATAC's February 27, 2020 technical report titled "Technical Report and Preliminary Economic Assessment for the Tiger Deposit, Rackla Gold Project, Yukon, Canada", which can be viewed at www.sedar.com under the ATAC profile or on the ATAC website at www.atacresources.com. Additional information about the Osiris Resource Estimate will be summarized in a technical report filed within 45 days of July 28, 2022.
SOURCE ATAC Resources Ltd.
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