ALI Altitude Resources

Altitude Resources Inc. (TSX VENTURE:ALI) is pleased to announce that it has
received formal Alberta Government approval for a drill program at its Palisades
coal property located in west - central Alberta, Canada. The exploration program
anticipates the drilling of up to 7,000 meters with a budget estimated at
$2,300,000. 


To view the map accompanying this press release please click on the following
link: http://media3.marketwire.com/docs/ALI0513.pdf 


Commenting on the upcoming program Andrew Wusaty, President and CEO said, "The
planned 2013 drill program will be initiated in the next several months and when
completed the program results should enable the company to declare a new and
expanded NI 43-101 compliant mineral resource for the Palisades property later
this year. Along with the field program we are focused on laboratory testing for
coal quality."


The drill program is targeting the Palisades Property which is located
approximately 30 kilometres north of the Yellowhead Highway (Hwy 16) and
adjacent to Highway 40 North, near Hinton, Alberta. Altitude's properties are in
close proximity to CN rail which services the Grande Cache mine to the
northwest. The drill targets in the proposed program were identified in the 2012
preliminary field assessment program carried out by Dahrouge Geological
Consulting ( Dahrouge ) of Edmonton, Alberta. Dahrouge has been contracted to
oversee and implement the proposed 2013 drill program. 


Historical work in this area, reported as the "Hoff Property", included drilling
programs first performed by Rio Tinto Canada (1969) and then Denison Mines
(1982-83). A NI 43-101 technical report was carried out by Moose Mountain
Technical Services (Moose Mountain) in November 2011 on the original Palisades
property. The initial coal mineral resource estimate completed in 2011 for the
Palisades property by Moose Mountain identified an inferred resource of
approximately 10.7 million tonnes of low-volatile bituminous coal. Moose
Mountain also identified an initial exploration target of approximately 140
million tonnes of low-volatile bituminous coal.


Retention of Market Making Services

Altitude also announces that, subject to regulatory approval, it has retained
Venture Liquidity Providers Inc. (VLP) to initiate its market-making service to
provide assistance in maintaining an orderly trading market for the common
shares of the company. 


The market-making service will be undertaken by VLP through a registered broker,
W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX
Venture Exchange and other applicable laws. For its services, the corporation
has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement
may be terminated at any time by the corporation or VLP. The corporation and VLP
act at arm's length, and VLP has no present interest, directly or indirectly, in
the corporation or its securities. The finances and the shares required for the
market-making service are provided by W.D. Latimer. The fee paid by the company
to VLP is for services only. 


VLP is a specialized consulting firm based in Toronto providing a variety of
services focused on TSX-V-listed issuers. 


About Altitude Resources

Altitude Resources is a new Canadian coking coal exploration and development
company focused on developing its portfolio of coking coal properties in
west-central Alberta, Canada. Altitude's most advanced property, the Palisades
Coal Project, is located approximately 12 kilometres from CN rail which has
capacity to provide transport of coal to deep-water ports on the west coast of
Canada to service the growing demand from world markets.


Gene Wusaty, Altitude's Chairman, a qualified person as defined by NI 43-101,
supervised the preparation of the technical information in this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Altitude Resources Inc.
Doug Porter
CFO
+1-403-453-3298
www.altituderesources.ca

Altitude Resources Inc. (TSXV:ALI)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Altitude Resources Inc. (TSXV:ALI)
Gráfica de Acción Histórica
De May 2023 a May 2024