VANCOUVER, BC, Jan. 31, 2022 /CNW/ - ATAC Resources Ltd.
("ATAC") or ("the Company") (TSXV: ATC) (OTCQB: ATADF) announces
that it has voluntarily relinquished 327 quartz mineral claims
located within designated wilderness areas of the finalized Peel
Watershed Land Use Plan ("the Plan").
On August 22, 2019, the Plan was
approved by the governments of Yukon, Tr'ondëk Hwëch'in, the First Nation of
Na-Cho Nyäk Dun, Vuntut Gwitchin First Nation and the Gwich'in
Tribal Council. The finalized Plan divided the Peel Watershed into
sixteen landscape management units. The 327 mineral claims
voluntarily relinquished by ATAC were located within wilderness
area sub-categories.
"The voluntary relinquishment of over 300 mineral claims
within the Peel Watershed is a key part of our long-standing
commitment to working collaboratively with Yukon First Nations,
Governments and Yukon
communities," stated President and CEO, Graham Downs. "As an exploration company, we
are constantly looking for ways to positively engage with local
communities and this contribution is consistent with our commitment
to implementing Environmental, Social and Governance (ESG)
principles."
The Company has agreed to relinquish the following claims:
- Mouse property (48 claims) located 72 kms west of ATAC's Rackla
Gold Property;
- Stoked property (276 claims), located 21 kms west of ATAC's
Rackla Gold Property; and,
- 3 Rau claims located at the northwestern edge of ATAC's 8,768
claim Rackla Gold Property.
In response to the surrender of the mineral claims within the
Peel Watershed, ATAC has been granted certain assessment credits to
be applied on its other Yukon
properties located outside of the Peel Watershed.
About ATAC
ATAC is a Vancouver-based
exploration company focused on exploring for gold and copper in
Yukon and Nevada. Work on its ~1,700 km2
Rackla Gold Property in Yukon has
resulted in the Osiris Project Inferred Mineral Resource of
1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt),
the Tiger Deposit Measured & Indicated Mineral 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 $6
million in working capital.
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 is summarized in ATAC's July 2, 2018 technical report titled "Technical
Report and Estimate of Mineral Resources for the Osiris Project,
Yukon, Canada," which can also be
viewed at www.sedar.com
SOURCE ATAC Resources Ltd.