October 24, 2007 – ATAC Resources Ltd. (TSX-V:ATC) is pleased to announce that its agreement with Northern Freegold Resources Ltd. which allows them the right to earn a 100% interest in the Golden Revenue (including Nucleus Zone), Nitro and Sey properties has received final acceptance by the TSX-Venture Exchange.
Under terms of the agreement, Northern Freegold has the right to earn a 100% interest in all three properties (subject to a 1% net smelter return royalty) by making cash payments totalling $150,000 and share issuances totalling 1,900,000 common shares on or before May 1, 2009. If any of the staged cash payments or share issuances are not met, ATAC will regain 100% ownership of the three properties.
For further information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC’s website at www.atacresources.com or contact:
Graham Downs, CEO
ATAC Resources Ltd.
ATAC RESOURCES LTD.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OF THIS NEWS RELEASE.View News Release in PDF