/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES/
TORONTO, April 7, 2015 /CNW/ - Atlanta Gold Inc. (TSXV:
ATG; OTC Pink: ATLDF) announces that its wholly-owned
subsidiary, Atlanta Gold Corporation ("AGC"), has formed
Mineral Point, LLC to explore AGC's Neal Property through Neal
Development, LP (the "Partnership"). Mineral Point, LLC is
an Idaho limited liability company
and the Partnership is formed under the Idaho Uniform Limited
Partnership Act, as amended.
Mineral Point, LLC will be the General Partner of the
Partnership and will hold at least a 50% interest in the
Partnership, and the Limited Partners will hold a 50% interest in
the Partnership. One hundred (100) units of the Partnership will be
offered to qualified investors at US$25,000 per unit to the aggregate subscription
level of US$2,500,000.
The Neal Property is located 15 miles southeast of Boise, Idaho, in Elmore County and 45 miles southwest of the
Atlanta Project within the same Trans-Atlanta-Challis fault
alignment. It is on private land and it only requires State
Government approval to commence operations. It can be operated by
providing a Notice of Motorized Exploration. The Partnership will
advance the exploration and processing method and such advancements
will then be applied by AGC to the development of the Atlanta
Project. The recovery process medium is water with gravity recovery
and recent testing results indicate that gold concentration is up
to 400:1 with recoveries greater than 80% of total gold without the
use of any chemicals.
Knife River Corporation ("KRC") will be the contractor to
excavate and transport the mineralized materials from the Neal
Property approximately 23 miles, to KRC's property located on Amyx
Lane for crushing. Mineral Point, LLC will process the materials at
the KRC property as a contractor. The Partnership will also
contract with Mineral Point, LLC to provide general, administrative
and other services.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended, or any state securities laws and unless so registered, may
not be offered or sold in the United
States or to U.S. persons except pursuant to an exemption
from such registration requirements. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any offer or sale of securities
in any jurisdiction in which such offer, solicitation or sale would
be unlawful.
About the Company
Atlanta Gold Inc. holds
through its 100% owned subsidiary, Atlanta Gold Corporation,
leases, options or ownership interests in its Atlanta properties which comprise
approximately 2,159 acres (8.74 square kilometres) located 90 air
kilometers east of Boise, in
Elmore County, Idaho. A long
history of mining makes Atlanta
very suitable for development of new mining projects. The Company
is focused on advancing its core asset, Atlanta, towards mine development and
production.
The Company is also focused on advancing the exploration and
processing method on the Neal Property, which is located
approximately 15 miles from Boise,
Idaho and comprises approximately 192 acres (0.78 square
kilometres). The Neal Property's geology is similar to that of the
Atlanta Project and it provides the Company with all-season access
to further refine the processing equipment and procedures. In
June 2014, Knife River assigned
certain of its rights and obligations under its lease with the
owner of the Neal Property to AGC. AGC staked an additional seven
contiguous claims on public land that was open to mineral
entry.
Forward-Looking Information
This news
release contains forward-looking information and forward-looking
statements (collectively "forward-looking statements") within the
meaning of applicable securities laws with respect to the
completion of subscriptions by Limited Partners of the Partnership,
the commencement of exploration and development at Neal and the
application of advancements developed at Neal to the Atlanta
Project. Such are based upon various assumptions and other factors
that management believes to be reasonable, including that adequate
funding will be available on a timely basis and that requisite
permits are obtained on a timely basis. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause our actual results to differ materially from those
expressed or implied by the forward-looking statements. Risks and
uncertainties that may cause actual results to vary include the
ability of the Partnership to complete the financing on acceptable
terms; receipt of requisite governmental approvals; fluctuations in
the gold price and currency exchange rates; changes in general
economic conditions and in the financial markets; as well as other
risks and uncertainties which are more fully described in the
Company's annual and interim management's discussion and analysis
and other filings by the Company with the securities regulatory
authorities, which are available under the Company's profile at
www.sedar.com. Should one or more risks and uncertainties
materialize or should any assumptions prove incorrect, then actual
results could vary materially from those expressed or implied by
the forward-looking statements and accordingly, readers should not
place undue reliance on the forward-looking statements.
Readers are cautioned that the foregoing lists of risks,
uncertainties, assumptions and other factors are not
exhaustive. The forward-looking statements contained herein
are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking
statements contained herein or in any other documents filed with
securities regulatory authorities, whether as a result of new
information, future events or otherwise, except in accordance with
applicable securities laws.
To receive Company news via email, contact info@atgoldinc.com
and mention "Atlanta Gold News" in the subject line.
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SOURCE Atlanta Gold Inc.