Toronto, Ontario – Atlanta Gold Inc., (TSXV: ATG; OTCQX: ATLDF) announces that it has drilled approximately 17,350 metres (57,000 feet) to complete its 2011 core drilling program that concludes a two-year seasonal campaign of 26,213 metres (86,000 feet). This represents 56% of all core drilling completed at Atlanta in the past twenty-five years. Results from the 2011 drilling in the East Monarch area are included in tables 1 and 2 below. 

Of 59 holes drilled in 2011, the 16 infill holes reported in the tables below demonstrate the potential for extension of the proposed Monarch pit down dip, and along strike to the east. The previous news release of November 8, 2011 identified the potential to merge the Monarch Zone and East Extension Zone into a single open pit.

“We are very excited about the results of our 2011 drilling program. These two zones, if mined as a single pit extending to the vertical relief on the east slope would significantly reduce haulage costs and increase the available pitable resources,” stated Ernest Simmons, Vice President of Mining and COO of the Company.

The two-year drilling program was successfully completed in five zones: the new North 1 and 2, East Extension, Monarch, Buffalo and Idaho. Pending assay results from the 2011 drilling program will be reported over the next few weeks and an updated NI 43-101 Technical Report and Resource Estimate is expected to be completed in the first quarter of 2012.

2011 SURFACE DRILLING – TABLE 1
SELECTED ASSAY RESULTS FOR EXTENDING THE MONARCH ZONE TO THE EAST

Hole
Identification

From
(Metres)

To
(Metres)

Width
(Metres)

True
Width
(Metres) *

    Assay  (gpt Au)

D11042W03

184.4

187.5

3.0

                 1.5

        0.891

202.7

204.2

1.5

                 0.8

        1.029

208.8

210.3

1.5

                 0.8

        1.406

217.9

237.7

19.8

                 9.9

        4.738

D11049W07

211.8

214.9

3.0

                 1.3

        0.720

233.2

236.2

3.0

                 1.3

        1.200

278.9

286.5

7.6

                 3.2

        0.747

289.6

294.1

4.6

                 1.9

        1.039

309.4

320.0

10.7

                 4.5

        1.094

D11036W11

129.5

137.2

7.6

                 4.9

        1.227

146.3

147.8

1.5

                 1.0

        1.269

185.9

205.7

19.8

               12.7

        1.677

207.3

217.9

10.7

                 9.8

        3.885

D11036W13

48.8

54.9

6.1

                 3.0

        1.022

292.6

303.3

10.7

                 5.3

        1.454

D11036W15

341.4

345.9

4.6

                 1.9

        0.994

349.0

350.5

1.5

                 0.6

        1.680

 

*          True widths are estimates based on current available data and may be subject to change.
Silver assays are not included in the above table.

2011 SURFACE DRILLING – TABLE 2
SELECTED ASSAY RESULTS FOR EXTENDING THE MONARCH ZONE TO THE EAST

Hole
Identification

From
(Metres)

To
(Metres)

Width
(Metres)

True
Width
(Metres) *

    Assay  (gpt Au)

D11036W23

120.4

123.4

3.0

                 2.2

        1.063

D11015W25

146.3

152.4

6.1

                 3.9

        1.749

202.7

222.5

19.8

               12.7

        3.171

234.7

260.6

25.9

               16.6

        2.277

D11015W27

96.0

100.6

4.6

                 2.3

        2.115

160.0

170.7

10.7

                 5.3

        3.717

271.3

277.4

6.1

                 3.0

        1.989

285.0

294.1

9.1

                 4.6

        5.709

D11015W31

204.2

207.3

3.0

                 2.2

        1.217

251.5

257.6

7.6

                 5.4

        0.898

D11035W33

359.7

365.8

6.1

                 3.0

        1.251

373.4

387.1

13.7

                 6.9

        1.512

D11005W35

6.1

9.1

3.0

                 2.2

        1.286

57.9

62.5

4.6

                 3.2

      15.154

155.4

158.5

3.0

                 2.2

        0.771

166.1

172.2

6.1

                 4.3

        1.371

333.8

344.4

10.7

                 7.5

        4.056

349.0

350.5

1.5

                 1.1

        2.160

413.0

423.7

10.7

                 7.5

        1.522

D11005W37

42.7

44.2

1.5

                 0.8

        1.166

54.9

57.9

3.0

                 1.5

        1.011

126.5

141.7

15.2

                 7.6

      18.627

534.9

539.5

4.6

                 2.3

        2.424

D11007W49

253.6

257.6

4.0

                 2.0

        1.526

416.7

419.1

2.4

                 1.2

        2.040

D11007W55

303.3

305.7

2.4

                 1.7

        3.922

359.7

365.8

6.1

                 4.3

        1.131

D11007W57

96.3

98.5

2.1

                 1.4

        0.922

234.4

235.0

0.6

                 0.4

        1.131

D11007W59

306.6

308.2

1.5

                 0.8

        1.783

359.7

368.8

9.1

                 4.6

        1.262

448.1

449.6

1.5

                 0.8

        1.303

455.7

460.2

4.6

                 2.3

        1.234

466.3

467.9

1.5

                 0.8

        2.297

475.5

477.0

1.5

                 0.8

        1.234

496.8

498.3

1.5

                 0.8

        1.200

519.7

521.2

1.5

                 0.8

        2.263

 

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 kilometres 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. All statements, other than statements of historical fact, are forward-looking statements. We use words such as “may”, “intend”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate” and similar terminology to identify forward-looking statements, including with respect to the interpretation of the exploration results received and the reduction in haulage costs. Such are based upon assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. These assumptions include those concerning the accuracy of historical records, the accuracy of the Company’s resource estimates and of the geological, metallurgical and price assumptions on which the estimates are based, the availability of adequate financing and the ability to achieve operating cost estimates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our 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 speculative nature of mineral exploration, development and mining (including uncertainties with respect to the interpretation of geology, continuity, size and grade estimates and recoverability of mineral reserves and resources); insufficient funding or delays in raising additional financing on satisfactory terms; operational and technical difficulties which could increase operating and/or capital costs; risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, changes in laws or regulations and the risk of obtaining necessary licenses and permits; fluctuations in resource prices and in currency exchange rates; changes in general economic conditions and in the financial markets; 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.

 

For further information contact:

Atlanta Gold Inc.:

Bill Baird
Vice President & CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
E-mail: info@atgoldinc.com

Investor Cubed Inc.:

Neil Simon
Telephone: (647) 258-3311, (888) 258-3323
Fax: (416) 363-7977
E-mail: info@investor3.ca

CHF Investor Relations:

Juliet Heading
Senior Account Manager
Telephone: (416) 868-1079, extension 239
Fax: (416) 868-6198
E-mail: juliet@chfir.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.