Toronto, Ontario – Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) today announced that due to the heavy rain and severe flooding through portions of Elmore County, Idaho, the Company will move its bulk sample efforts to the Neal Property instead of working on the Atlanta Project, as previously announced. Elmore County issued the declaration of emergency on August 12th. Governor of Idaho Butch Otter declared a state of emergency for Elmore County on Wednesday, August 27th.
Access to the Atlanta Project has been severely inhibited making the movement of equipment in or out of the property impossible. In the past few weeks, Atlanta’s team has worked on public road access, improving the mine drainage, replacing pond liners, as well as replacing the filters on the Passive Water Treatment Facility (PWTF). The Company continues to maintain compliance with the drinking water standards as set by the US Environmental Protection Agency and the Idaho Department of Environmental Quality and other environmental maintenance.
“Road damage has forced us to move operations to the Neal Property several months earlier than planned,” commented Wm. Ernest Simmons, President and CEO. “While this move affects Atlanta Gold’s cash flow somewhat for the short term, we are making the necessary adjustments to accommodate this temporary inconvenience. The move will be completed prior to Atlanta’s winter closure of the only year-round access to the Middle Fork of the Boise River. This is the main road to the Atlanta Project that has been maintained in the past.”
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 kilometers) located 90 air kilometers 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.
This news release contains forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning of applicable securities laws with respect to moving operations from the Atlanta Project to the Neal Property and the completion of a bulk sample thereon. Such are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors that management believe to be reasonable and relevant. These assumptions include those concerning the ability to move operations to the Neal Property in a timely manner, the generation of the bulk sample, the successful application of the processing technology and the achievement of recovery objectives, the completion of additional financings, the availability of equipment and manpower, the ability to achieve operating and cost estimates and general business and economic conditions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause 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 Company’s limited financial resources and its ability to raise sufficient funds on a timely basis to fund the capital and operating expenses necessary to carry out its planned initiatives; fluctuations in resource prices and currency exchange rates; the speculative nature of mineral exploration and mining (including with respect to the interpretation of geology, continuity, size and grade estimates and the recoverability of resource estimates); 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, health and safety hazards; changes in laws or regulations and the risk of obtaining necessary consents, licenses and permits; 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.
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