ATAC Resources Ltd. announces $19.96 Million in Private Placements

July 16th, 2010

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

July 16, 2010 - ATAC Resources Ltd. (“ATAC” or the “Company”) (TSX-V: ATC) is pleased to announce that it has arranged the non-brokered private placement of up to 8,000,000 common shares of the Company at a price of CDN$1.85, and of up to 2,400,000 flow-through common shares of the Company at a price of CDN$2.15, for aggregate gross proceeds of up to CDN$19,960,000 (the “Offering”).

The Company has agreed to allocate a portion of the Offering to subscribers found by Axemen Resource Capital Ltd. (“Axemen”), and may agree to similar allocations to other exempt market or investment dealers. The Company will pay finder’s fees equal to 5% of subscription amounts found, payable in cash or shares, plus issue finder’s warrants in an amount equal to 6% of shares subscribed for, with each such finder’s warrant exercisable into one common share of the Company at a price of CDN$2.00 for 18 months from closing.

Closing of the Offering is anticipated to occur on or before August 6, 2010 and is subject to receipt of TSX Venture Exchange acceptance. Securities issued under the Offering will be subject to a hold period which will expire four months and one day from the date of closing.

The proceeds from the Offering will be used to continue exploration on ATAC’s wholly-owned Rau property in the Keno Hill District of central Yukon and for general working capital purposes.

ATAC is a well-funded junior mining company focused on gold. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC’s website at www.atacresources.com.

Graham Downs, CEO
ATAC Resources Ltd.
Tel: 604-687-2522
graham@nordacres.com

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.

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