Atna Agrees to Sell Royalty Portfolio for US$20 Million
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 (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
SOURCE Atna Resources Ltd.
