ALI Altitude Resources

Altitude Resources Inc. (TSX VENTURE:ALI) is pleased to announce today that it
has initiated permit applications with the Alberta Government for a drill
program at the Elan Coal property located in southern Alberta, Canada. The
proposed program is designed primarily for determining coal quality and calls
for the drilling of up to 1,800 meters with a $1,200,000 CDN budget. 


The drill targets in the proposed program were identified in the October 2013
preliminary field assessment program carried out by Dahrouge Geological
Consulting Ltd. ("Dahrouge") of Edmonton, Alberta. Dahrouge has also been
contracted to oversee the proposed 2014 drill program. It is expected that the
approval will be received in calendar Q1 2014 and the program is expected to
start shortly thereafter. 


To view "Figure 1 LOCATION MAP" please visit the following link:
http://media3.marketwire.com/docs/ALI-LocationMap-1128.pdf.


Commenting on the upcoming program Gene Wusaty, President and CEO said, "The
planned 2014 drill program will test new coal targets identified in the 2013
field exploration and will focus on providing more extensive coal quality
analysis."


To view "Figure 2 DRILL TARGET MAP" please visit the following link:
http://media3.marketwire.com/docs/ALI-DrillTargetMap-1128.pdf. 


The drill program is targeting the Elan Coal Property which is located in
southwestern Alberta near the historic coal mining municipality of Crowsnest
Pass and adjacent to Riversdale's recently acquired Grassy Mountain coal
project. As announced on August 12, 2013 Altitude entered into an Exploration
and Option Agreement with Elan, a private Non-Arm's Length Party. Altitude has
acquired an option to earn up to a 51% undivided working interest in Elan's 27
Alberta Crown coal lease applications which cover a 22,951 ha area. The
Agreement allows Altitude the right to enter upon and conduct exploration
activities in and on all parts of the Leases. An initial NI 43 - 101 Coal
Resource estimate was calculated comprising of 62 million tonnes ("Mt") in the
Measured and Indicated Mineral Resource categories and 84Mt in the Inferred
Mineral Resource category. A 726Mt (NI 43-101 compliant) exploration target for
the Elan property has been identified. 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. Coal rank is low to mid volatile.


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 properties include the Palisades Coal
Project and the option on Elan Coal. Both properties are located in close
proximity to 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. 


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 Statement Regarding Forward-Looking Information

This news release contains "forward looking information" within the meaning of
applicable Canadian securities legislation. Forward looking information includes
without limitation, statements regarding the size and quality of the Company's
mineral resources, progress in the development of mineral properties, future
capital and operating expenses, the future financial or operating performance of
the Company, the prospective mineralization of the properties, planned
exploration programs and the anticipated production schedule. Generally, forward
looking information can be identified by the use of forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking
information is based on assumptions that have been made by the Company as at the
date of such information, including those assumption described in the Company's
technical report entitled "Resource Estimate of the Palisades Coal Property"
dated November 28, 2011 which is available at www.sedar.com. Forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those expressed or
implied by such forward-looking information, including but not limited to: the
future price of coal, industry market trends and predictions, the estimation of
mineral reserves and resources, operating and exploration expenditures, costs
and timing of future exploration, requirements for additional capital,
government regulation of mining operations including changes in government
policies, environmental risks, reclamation expenses, title disputes or claims,
limitations of insurance coverage, regulatory matters, and other risks described
in the public filings of the Company. Although the Company has attempted to
identify important factors that could cause actual results to differ materially
from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.


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