Initial Drill Results from Golden Revenue

August 19th, 2004

August 19, 2004 - James Stephen, CEO is pleased to announce results from the first four holes of the ongoing drill program at the Golden Revenue property located in southern Yukon. To date nine holes have been drilled for a total of 1117.5 m. In light of the successful results, ATAC and the optionee Yale Resources Ltd. are considering an increase in the size of this years’ drill program. Yale can earn a 70% interest in the Golden Revenue property by producing a positive feasibility study.

The Golden Revenue property is located within the prolific Tintina Gold Belt, which runs from southern Yukon into western Alaska.

The Company is encouraged by the results from the initial four holes from the Nucleus Zone because all encountered significant mineralization. Assays from Holes 5 through 9 are pending. The drill program is being done under the supervision of Bill Wengzynowski, P.Eng. and President of Archer, Cathro & Associates (1981) Limited, who is the qualified person according to NI 43-101 guidelines.

The generalized geology of the Nucleus Zone is similar to that of the +230 Mt Donlin Creek deposit (22 million ounces) and has grades similar to the Fort Knox mine - both of which are located in the continuation of the Tintina Gold Belt in Alaska. The Fort Knox mine has reported resources of 158 Mt grading 0.83 g/t gold (4.2 million ounces) when it went into production. Holes DN04-01 through -03, which were located within the core of the Nucleus Zone, confirm the results of the earlier drill programs. As shown in the table below, all three holes intersected long mineralized intervals, predominantly within the oxidized zone of the mineralized system. Of note is the consistency of the mineralization through these holes.

Drill hole   Length(m)   From(m)   To(m)   Interval(m)   Gold (g/t)
DN04-01       150.9       8.84    115.50     106.66        0.57
DN04-02       65.53       8.38     65.53      57.15        0.71
DN04-03       137.2      16.00    126.00     110.00        0.76

In addition to widespread low grade mineralization, high grade intervals were intersected in Hole DN04-02 (11.45g/t gold over 2.26 m) and in Hole DN04-03 (33.4 g/t gold over 2 m). The highest grade interval was cut to 11 g/t. Uncut, the 110.0 m interval in DN04-03 averages 1.16 g/t.

The fourth hole represented a large stepout and was drilled approximately 400 m to the south of
the core area of the deposit.

Drill hole   Length(m)   From(m)   To(m)   Interval(m)   Gold (g/t)
DN04-04        67.4 14.    63      37.00      22.37        0.66

The results of Hole DN04-04 seem to indicate that the Nucleus Zone mineralization extends well beyond the previous 200 by 300 m area of work. The current drill program is testing an area that is 1000 m in strike length and about 400 m in width. Additional results from the next series of holes will be reported when available.

ATAC is very active at this time. Beside the drilling at Nucleus, results are pending for drilling that has been completed by Klondike Gold Corp. on the optioned Arn property, and ATAC is performing various types of surface exploration on its own behalf on the Rosy, Seymour, Panorama and recently staked Nikki properties. Results from these other projects will be released as they are received.

For more information regarding ATAC or its projects please contact Rob Carne or Doug Eaton at 604-688-2568 or 1-800-598-4155, Jim Stephen at 867-668-6443 or email

Per: James M. Stephen, CEO


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