ALI Altitude Resources

On behalf of Elan Coal Ltd. ("Elan"), Altitude Resources Inc. (TSX VENTURE:ALI)
("Altitude") is pleased to announce an initial NI 43 - 101 Coal Resource
estimate (Table 1) comprising of 62.14 million tonnes ("Mt") in the Indicated
Mineral Resource category and 84.72Mt in the Inferred Mineral Resource category.
A 742.95 Mt exploration target for the Elan property has been identified. The
coal quality rank is low to mid volatile. The study was carried out by Dahrouge
Geological Consulting Ltd. ("Dahrouge") of Edmonton, Alberta.


Table 1. NI 43-101 Coal Resources (Million Tonnes) 



--------------------------------------------------------------------------
ELAN             Measured    Indicated    Measured & Indicated    Inferred
                                                                          
Total                 - -        62.14                   62.14       84.72
--------------------------------------------------------------------------



The Coal Resource estimate is based on historic data from 82 rotary holes, 127
diamond drill core holes, 19 adits, 21 coalbed methane wells, and a significant
amount of trenching in the tenements. Coal exploration on the Elan properties
began in 1949 and continued intermittently until 1976. Additional coalbed
methane exploration was completed between 1971 and 2002. The coal resource
figures presented in Table 1 are from a Resource Summary Letter prepared by
Dahrouge and are the basis for a final NI 43-101 compliant Technical Report to
be issued later this year. As part of this Resource Summary Letter, Dahrouge has
also outlined several exploration targets and proposed drill programs for Elan. 


As announced on August 12, 2013 Altitude entered into an Exploration and Option
Agreement (the "Agreement") with Elan, a private Non-Arm's Length Party.
Altitude will acquire an option to earn up to a 51% undivided working interest
(the "Option") in Elan's 27 Alberta Crown coal lease applications. The Agreement
allows Altitude the right to enter upon and conduct exploration activities in
and on all parts of the Leases. The 22,951 hectare Elan property is located in
southwestern Alberta near the historic coal mining municipality of Crowsnest
Pass and adjacent to Riversdale's recently purchased Grassy Mountain coal
project. The property can be accessed by driving north from Crowsnest Pass on
secondary roads. Elan has access to rail and port infrastructure with spare
capacity. 


To view the first map accompanying this press release, please click on the
following link: http://media3.marketwire.com/docs/0911ALIa.pdf 


Commenting on the Elan's initial coal resource, Andrew Wusaty, President and CEO
said, "This maiden resource report on Elan's lease applications is based
entirely on historic data and no recent drilling has been carried out. Altitude
is presently working on organizing an exploration program which will include
drilling and coal quality work on the Elan property. We are anticipating that it
will be carried out late this year and into early 2014." 


The Elan lease applications are located in the Rocky Mountain foothills
extending approximately 15 to 70 kms north from Crowsnest Pass along strike in
the Kootenay Group formation. In the Crowsnest Pass area, economic coal
potential exists in the Kootenay group which has a thickness of a maximum of
1,100 meters. Just to the west across the provincial border in British Columbia
there are five operating coal mines owned and operated by Teck Coal. 


To view the second map accompanying this press release, please click on the
following link: http://media3.marketwire.com/docs/0911ALIb.pdf 


Five different areas of interest with surface mineable potential have been
identified from historic exploration work carried out by companies including
CONSOL, Devon Canada, Granby Mining, CanPac Minerals, and Canadian Hunter dating
back to the 1940's. The project areas (Table 2) of primary interest which have
been identified by Dahrouge consist of Isolation, Savanna, Grassy North,
Wildcat, and Isola. More than ten coal seams have been identified on the
properties with thicknesses ranging from 3 to 10m. Coal quality is low to medium
volatile with variable but generally moderate ash content, with good washability
and coking coal properties. Elan is focused on development of coking coal with
surface mining potential. 


Table 2. Modeled Exploration Area Tonnage Targets 



----------------------------------------------------------------
Target Areas Hosted at Elan (Excludes Table 1 Resource Tonnes)  
                                                                
Area Exploration Target (TONNES)                                
                                                                
Isolation                                             57,724,658
Savanna                                              186,086,742
Grassy North                                         251,720,113
Wildcat                                              215,486,558
Isola                                                 31,935,734
                                                                
Total                                                742,953,805
----------------------------------------------------------------



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


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. Altitudes most advanced property, the Palisades
Coal Project, is located approximately 12 kilometers 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. 


Under NI 43-101 Mr. John Henry Gorham, P. Geol consents to the inclusion of such
information in this news release in the form and context in which it appears.
The information in this news release that relates to Coal Resources is based on
information compiled by Mr. Gorham, who is a Member of the Association of
Professional Engineers, Geologists and Geophysicists of Alberta. Mr. Gorham is a
full-time employee of Dahrouge, Geological who are consultants to Elan. Mr.
Gorham has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity he is
undertaking to qualify as a "Competent Person" as defined as a "Qualified
Person".


The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Altitude Resources Inc.
Investors:
Doug Porter, CFO
(403) 453-3298
dporter@altituderesources.ca
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