VANCOUVER, BC, Aug. 11,
2022 /CNW/ - 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,
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
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
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
Cautionary Note to U.S. Investors
concerning estimates of Measured, Indicated, and Inferred
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,
SOURCE ATAC Resources Ltd.