June 10, 2009 — ATAC Resources Ltd. (“ATAC”) (TSX-V: ATC) is pleased to announce that it has entered into an option agreement that will allow Arcus Development Group Inc. (“Arcus”) to earn a 50% interest in the Green Gulch, Touleary, Dan Man and Shamrock gold properties, which collectively comprise the Dawson Gold Project. Properties that make up the Dawson Gold Project either directly adjoin or are in close proximity to claims hosting Underworld Resources Inc.’s recent White Gold discovery in central Yukon (See Underworld’s news release dated May 26, 2009 for additional information).
“ATAC continues to implement its project generating business model of identifying early- to mid-stage precious metal opportunities and finding strong partners to advance them.” stated Graham Downs, Chief Executive Officer of ATAC. “The optioning of the Dawson Gold Project to Arcus falls directly in line with our corporate objectives and we look forward to working with them in an emerging gold district.”
Under terms of the agreement, Arcus can earn a 50% interest in the Dawson Gold Project by making cash payments totalling $185,000, issuing a total of 1,000,000 of its shares to ATAC and completing a total of $3,500,000 in work expenditures, all over a three year period. Arcus will be the operator until it earns a 50% interest in the project. Following earn-in, a joint venture will be formed to explore the project.
Although the Dawson Gold Project agreement is conditional upon Arcus completing a financing of not less than $1,000,000, exploration is starting immediately, subject to a clause concerning reimbursement.
In addition, ATAC’s crew is on-site at its flagship Rau gold project. Camp upgrades and pad construction are well underway, and diamond drilling is scheduled to begin on June 11.
ATAC is a well funded junior mining company focussed on discovering gold and silver deposits in mining-friendly western Canada. Its business model entails acquiring quality prospects, advancing them to drill stage and then attracting strong partners to move them toward production.
For information concerning ATAC or its properties please visit www.atacresources.com or contact Graham Downs at 604-687-2522.
ATAC RESOURCES LTD.
Graham Downs, CEO
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.