Court commends Atlanta Gold for Clean Water Act compliance efforts and declines to impose additional penalty
September 10 2013 - 7:00AM
OTC Markets
Court commends Atlanta Gold for Clean Water Act compliance efforts
and declines to impose additional penalty
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Court commends Atlanta Gold for Clean Water Act compliance efforts
and declines to impose additional penalty
Canada NewsWire
TORONTO, Sept. 10, 2013
TORONTO, Sept. 10, 2013 /CNW/ - Atlanta Gold Inc.
(TSXV: ATG; OTCQX: ATLDF) (the "Company") announces that
the U.S. District Court for the State of
Idaho, in the
compliance litigation brought under the United States Federal
Water
Pollution Control Act ("Clean Water Act") against the
Company's wholly-owned subsidiary, Atlanta Gold
Corporation ("AGC"), has entered an Order declining to
impose any additional penalty
against AGC due to AGC's "commendable" efforts in reducing the
level of
arsenic and iron in compliance with the terms of the applicable
NPDES
permit. Final judgment will be entered in the amount of
US$2 million,
which AGC expects to pay over a five year period. As
previously
announced in the Company's news release of August 27, 2013, AGC and all
parties to the litigation, including the U.S. Attorney as
intervenor,
have approved a proposed final Consent Judgment for signature by
the
Court providing for payment of the penalty in quarterly
installments
over a five year period. It is anticipated that the Court
will sign
and enter the Consent Judgment later this month.
The Court also ordered that after the entry of the final judgment,
the
case will be administratively terminated, only to be reopened if
the
Plaintiffs to the litigation seek enforcement and/or sanctions
for
future violations, if any. AGC continues to maintain
compliance with
the terms of the NPDES permit through use of the zero valent
iron
passive filtration system, and is confident that it will remain
in
compliance in the future.
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.
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
Court signing and entering the Consent Judgment in respect of
payment
by AGC of the penalty imposed under the Clean Water Act and
AGC's
continued compliance with the terms of the NPDES Permit. Such are
based
upon assumptions, opinions and analysis that management believe to
be
reasonable and relevant, including that the Court will approve
the
Consent Judgment to give effect to the payment plan and that
the
filtration system will continue to operate effectively.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results to
differ
materially from those expressed or implied in the
forward-looking
statements and accordingly, readers should not place undue reliance
on
those statements. Risks and uncertainties that may cause actual
results
to vary include, but are not limited to, the discretion of the
Court to
accept or reject the Consent Judgment on the terms proposed or
to
impose additional or amended terms, operational or technical
difficulties arising with respect to the filtration system and
the
Company's and AGC's limited financial resources; as well as other
risks
and uncertainties which are more fully described in the
Company's
annual and quarterly Management's Discussion and Analysis and in
other
Company filings with securities and regulatory authorities which
are
available 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 in
the
forward-looking statements and accordingly, readers should not
place
undue reliance on those statements. Readers are cautioned that
the
foregoing lists of risks, uncertainties, assumptions and other
factors
are not exhaustive. The forward-looking statements contained
in this
news release 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 bren@chfir.com and
mention "Atlanta Gold News" in the subject line.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER
(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE
EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS
RELEASE.
SOURCE Atlanta Gold Inc.
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