Atna Agrees to Sell Royalty Portfolio for US$20 Million
04 September 2008 - 2:00PM
PR Newswire (US)
GOLDEN, Colo., Sept. 4 /PRNewswire-FirstCall/ -- Atna Resources
Ltd. ("Atna") -- (TSX: ATN) is pleased to announce that it has
concluded an agreement to sell its portfolio of royalty interests
for US$20 million to International Royalty Corporation (Amex: ROY;
TSX: IRC). The royalty package comprises four royalty interests,
including a sliding scale precious metal net smelter return ("NSR")
royalty on the Wolverine Project located in the Yukon Territory; a
3 percent NSR royalty on portions of the McDonald gold property in
Montana, and royalty interests on properties in the Dominican
Republic and Argentina. The sale is expected to close in two parts,
one immediately for the Yukon, Montana and Dominican Republic
royalty interests, and a second closing for the Argentinean
royalty, which, for an interim period, remains subject to a right
of first refusal. "Completing this transaction is a major step in
implementing our internal growth and funding strategy. The sale
provides 100 percent of the funds required to put our Briggs Mine
into operation by early 2009, while providing additional funds for
corporate use and for project development at our Pinson, Reward and
Columbia gold projects. Our goal is to build responsible gold
production and future cash flow while minimizing dilution to our
shareholders. This sale is an important step in accomplishing our
goal," states James Hesketh, President & COO. For additional
information on Atna Resources, please visit our website at
http://www.atna.com/. This press release contains certain
"forward-looking statements," as defined in the United States
Private Securities Litigation Reform Act of 1995, and within the
meaning of Canadian securities legislation, relating to the
ultimate closing of the royalty package sale and the funding
required to put Atna's Briggs Mine into operation. Forward-looking
statements are statements that are not historical fact. They are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made and they involve a
number of risks and uncertainties. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors,
should change. Factors that could cause future results to differ
materially from those anticipated in these forward-looking
statements include: the Company might encounter problems such as
the significant depreciation of metals prices, accidents and other
risks associated with mining exploration and development
operations; the risk that the Company will encounter unanticipated
geological factors; the Company's need for and ability to obtain
additional financing; the possibility that the Company may not be
able to secure permitting and other governmental clearances
necessary to carry out the Company's mine development plans; and
the other risk factors discussed in greater detail in the Company's
various filings on SEDAR (http://www.sedar.com/) with Canadian
securities regulators and its filings with the U.S. Securities and
Exchange Commission, including the Company's Form 20-F dated March
25, 2008. FOR FURTHER INFORMATION, CONTACT: Valerie Kimball,
Investor Relations -- (303) 278-8464 or toll free (877) 692-8182
James Hesketh, President and COO -- (303) 278-8464
http://www.atna.com/ DATASOURCE: Atna Resources Ltd. CONTACT:
Valerie Kimball, Investor Relations, 1-877-692-8182, or James
Hesketh, President and COO, both of Atna Resources Ltd.,
+1-303-278-8464 Web site: http://www.atna.com/
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