Atna Resources Signs Pinson Joint Venture Agreement
April 09 2009 - 2:39PM
PR Newswire (US)
GOLDEN, Colo., April 9 /PRNewswire-FirstCall/ -- Atna Resources
Ltd. ("Atna") - (TSX: ATN), is pleased to report that it has
entered into a Mining Venture Agreement ("MVA") for the Pinson gold
project in Humboldt County, Nevada, with the Pinson Mining Company
(PMC), a Nevada general partnership comprised of Homestake Mining
Company of California and Barrick Holding Company of California,
both subsidiaries of Barrick Gold Corporation (NYSE: ABX). Under
the MVA, Atna will own a 30 percent equity interest in the joint
venture and PMC will own 70 percent. PMC will manage the project.
PMC recently concluded the expenditure of US$30 million at Pinson
to earn its 70 percent equity position. The results of that work
are being evaluated to determine the feasibility of development and
a future work plan on the project. The property has been placed on
care and maintenance while the technical study is completed and
until a decision is made concerning the future of Pinson.
Dewatering of the underground facilities will continue during this
decision period to protect the partners' investment and facilitate
re-start, when warranted. Forward-looking statements: 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 status of work programs and budgets at the Pinson
gold project. 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 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 that will prevent it from restarting mining operations at the
Pinson gold project, 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 31, 2009. FOR FURTHER
INFORMATION: Additional information on Atna Resources Ltd. and the
Pinson gold project is available on our website at
http://www.atna.com/ or contact: James Hesketh, President and CEO
(303) 278-8464 Valerie Kimball, Corporate Communications (303)
278-8464 DATASOURCE: Atna Resources Ltd. CONTACT: James Hesketh,
President and CEO, or Valerie Kimball, Corporate Communications,
both of Atna Resources Ltd., +1-303-278-8464 Web Site:
http://http//www.atna.com
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