Vancouver, BC - June 11, 2013: Altair Gold Incorporated (the
"Company" or "Altair") (TSX-V: AVX) is issuing the following
release as a result of a review by the British Columbia Securities
Commission, to clarify its technical disclosure record.
While all of the Company's resource disclosures are accurate,
the presentation of certain of those disclosures did not comply
with all of the requirements of NI 43-101. Therefore, the Company
now wishes to clarify this information.
On its website, corporate presentations, and news releases the
Company made certain disclosures of mineral resources and
historical data that were contrary to the requirements of National
Instrument 43-101 ("NI 43-101"); as follows:
-in its April 11, 2013 news release, corporate presentation
(available on its website www.altairgold.com), the Company
disclosed updated mineral resources for its Kena Gold Property
without including the effective date of each estimate, key
assumptions, parameters and methods used to arrive at the resource
estimates, and information as to any known material legal,
political, environmental or other risks that could impact the
development of the project, all as required by NI 43-101, s.
3.4(a), (c) and (d);
-in its April 11, 2013 news release, corporate presentation and
company snapshot, the Company disclosed mineral resources numbers
without disclosing each category separately contrary to NI 43-101,
s. 2.2(b);
-in its corporate presentation the Company disclosed historical
information regarding its Kena Gold Property without including all
of the information required under s. 2.4 of NI 431-101 for the
disclosure of historical estimates;
-in its corporate presentation the Company disclosed information
regarding New Gold's Blackwater project without disclosing the
applicable categories required by s. 2.2(a) and 2.3(1)(a) of NI
43-101; and
-in its February 27, 2013 MD&A, and in certain website
disclosures, including its Company snapshot, the Company did not
identify the qualified person who prepared or supervised the
preparation of the disclosures as required by NI 43-101, s.
3.1.
The Company's corporate presentation and Company snapshot have
been temporarily removed from the Company's website until the
deficiencies identified above can be addressed.
The current resource estimate for the Kena Gold Property is set
out in the technical report dated May 15, 2013, entitled "Technical
Report for the Kena Property" prepared for Altair by Gary Giroux,
P. Eng., MASc. and Vivian Park, P. Geo. (the "2013 Kena Technical
Report"). The mineral resource statement for the Kena Gold
Property, as extracted from that technical report, is summarized in
the table below. The effective date of this resource estimate is
February 7, 2013. The mineral resource statement is reported at a
cut-off grade of 0.3 gpt gold.
Mineral Resource Statement, Kena Gold Property, British
Columbia,
Giroux and Park, May 15, 2013.
COMBINED KENA AND GOLD MT. (KGM) ZONE
At a 0.3 g/t cut-off
------------------------------------------------------------
|Category |Tonnes |Grade Au (g/t)|Au Ounces|
|----------------------------------------------------------|
|Measured |6,690,000 |0.77 |165,000 |
|----------------------------------------------------------|
|Indicated |18,600,000|0.54 |325,000 |
|----------------------------------------------------------|
|Measured and Indicated|25,280,000|0.60 |490,000 |
|----------------------------------------------------------|
|Inferred |90,440,000|0.48 |1,399,000|
------------------------------------------------------------
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. All figures are rounded to reflect
the relative accuracy of the estimate. All composites have been
capped where appropriate.
The Kena Gold Project is located near Nelson, British Columbia.
There are no known legal, political, environmental or other risks
that could materially impact the development of the project.
The resource estimation work was completed in Vancouver by Gary
Giroux, an "independent qualified person" as this term is defined
in NI 43-101. The complete 2013 Kena Technical Report is available
under the Company's profile on SEDAR. Readers are urged to refer to
the complete 2013 Kena Technical Report for further information on
these mineral resource estimates, which are subject to the
qualifications and notes set forth therein. Prior disclosures by
the Company of mineral resource estimates should be read together
with the clarifications in this news release.
The Kena Gold Property exploration program is being supervised
by Warner Gruenwald, a Qualified Person as defined by NI 43-101.
Mr. Gruenwald is the qualified person responsible for the technical
content of this news release and the technical content of the
February 27, 2013 MD&A.
For additional information please contact Fayyaz Alimohamed at
(604) 641-1305, or e-mail info@altairgold.com.
Altair Gold Incorporated
Per:
Fayyaz Alimohamed,
President & Chief Executive Officer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
Forward-Looking Statement Caution:
This news release contains forward-looking statements within the
meaning of Canadian provincial securities laws applicable to the
Company, regarding the ongoing exploration and development
activities at the Company's Kena gold property. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions that any forward-looking
statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from
those in forward-looking statements as a result of various factors,
including, but not limited to, variations in the nature, quality
and quantity of any mineral deposits that may be located, the
Company's inability to obtain any necessary permits, consents or
authorizations required for its activities, the Company's inability
to produce minerals from its properties successfully or profitably,
to continue its projected growth, to raise the necessary capital or
to be fully able to implement its business strategies. The reader
is referred to the Company's reports, publicly available through
the Canadian Securities Administrators' System for Electronic
Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more
complete discussion of such risk factors and their potential
effects.
All of the Company's public disclosure filings may be accessed
via www.sedar.com, and readers are urged to review these materials,
including any technical reports filed with respect to the Company's
mineral properties.
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