ALTAIR RESOURCES INC. (“ALTAIR” or the “Company”)
(TSX-V: AVX; OTC: AAEEF; Frankfurt: “90AA”; ISIN:
CA02137W2004; WKN: WKN A2ALMP) is pleased to
announce the appointment of Dorian L. (Dusty) Nicol as Vice
President of Exploration. Mr. Nicol is an experienced professional
geologist with an excellent track record in the mining industry.
Mr. Nicol has a B.Sc. degree in Earth Science from M.I.T. and an
M.A. degree in geology from Indiana University. Dusty has over 45
years of world-wide experience in gold exploration and mining. He
has designed and managed successful gold exploration programs
throughout North and South America, Africa, Russia and the Former
Soviet Union, and Papua New Guinea. He has also designed and
managed generative gold exploration programs in Africa and Europe.
At Jerritt Canyon, Nevada, he designed and managed the exploration
program which discovered over
1.5 million ounces of
gold at a discovery cost of about
$18/ounce over a 5-year period. His exploration
program at the Tulkubash oxide deposit, Kyrgyzstan, added over
600,000 ounces of gold to M&I Resource in the
first year, at a discovery cost of
$11.40/ounce.
His experience spans the spectrum of virtually
every type of gold deposit in a variety of geologic settings. Dusty
has also efficiently managed due diligence of gold projects at
every stage of exploration, development, and production for
investment funds and corporate acquisitions. In addition to his
exploration experience, he has managed the construction,
development, and operation of open pit and underground gold mines
in Nevada and Mexico.
Dusty has held senior corporate positions on
several publicly listed companies (TSX, TSX-V, ASX, AIM, and ASE),
having served as a CEO / President, VP-Exploration, Technical
Director, and Independent Director. Dusty speaks six languages
fluently.
George S. Young, President and CEO, stated, "We
are very pleased to welcome Dusty as our Vice President of
Exploration to move our projects forward in expanding resources and
enhancing our production profiles. He brings a rare combination of
hands-on exploration experience and a long string of successful
exploration programs, coupled with significant and relevant
corporate development and management experience. We are excited to
unleash his experience and insight onto our projects in West Africa
and Central Asia to catapult them forward with his tremendous
background of project advancement.”
Altair is also pleased to announce the
appointment of Lawrence Roulston to its Advisory Board. Mr.
Roulston has a geology background and nearly 40 years of diverse
hands-on experience in the mining industry including management
positions with juniors and larger companies as well as a US
investment advisory firm. For several years he wrote a highly
regarded industry newsletter and currently serves as a director of
several other companies listed on the TSX Venture Exchange and the
New York Stock Exchange.
George S. Young, President and CEO, stated, "We
are very pleased to welcome Lawrence to our team. He brings a
wealth of knowledge and experience in geological evaluation and
market savvy, along with a host of financial and industry
connections that will serve Altair well. His guidance and advice
will help raise the profile of the Company and open doors to
strategic relationships as we move forward with the acquisitions in
Kazakhstan and with development in Burkina Faso.”
Altair is also pleased to announce that a
lengthy due diligence report prepared by its counsel in Kazakhstan
has been completed and the Company has discussed its findings with
the Sellers of the properties. A number of issues have been
discussed and are being addressed by the Sellers relating to the
tenements and the permit status of the properties, as well as the
governmental approvals that will be necessary for the transaction
to close. Altair has sent to representatives of the Sellers a
notice to proceed with the transaction subject to the resolution of
such matters, and the Sellers are proceeding to provide more
information and to take actions to address the issues.
About Altair Resources Inc.
Altair is an emerging mid-tier gold and precious
metal company rapidly progressing toward production. Altair
recently announced the signing of a binding agreement for the
purchase of the Marbera 2 permits in Burkina Faso, hosting historic
resources of over 1.3 million ounces of gold as shown by over
387,000 meters of drilling and 294,000 samples.
The company also recently announced an agreement
for the acquisition of two gold-producing properties in Kazakhstan
containing a total historic indicated resource of 947,900 ounces of
gold, open pit and underground, and a total historic inferred
resource of 892,600 oz of gold, open pit and underground, with
current aggregate gold production at the two properties of
approximately 21,000 ounces of gold per year from the oxide zones
of each property. The in situ acquisition cost of these
gold-producing assets is $58 per ounce.
Altair also has rights to acquire a 65 percent
interest in the Simon gold and silver property located in the state
of Nevada. A past producer, the Simon property presents an
excellent opportunity for adding value, employing low-cost
exploration activities to identify prime drilling sites in six
anomalous zones previously identified with gold, silver and copper
mineralization. The Simon property lies within the region that
hosts the prolific Tonopah district, the Round Mountain gold mine
and numerous other successful mining projects.
For further information:
George S. Young
Chairman, CEO, Altair Resources Inc. +1 (806) 886- 3317
gyoung@altairresources.com, www.altairresources.com
Fraser Ruth
Investor Relations, Altair Resources Inc. +1
(416) 274-3195
fruth@altairresources.com
Kirsti Mattson
Media Relations, Altair Resources Inc. +1 (778)
434-2241
kirsti.mattson@gmail.com
Neither 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.
Forward-Looking Statements:
This press release contains forward-looking
statements with respect to the Company. By their nature,
forward-looking statements are subject to a variety of factors that
could cause actual results to differ materially from the results
suggested by the forward-looking statements. In addition, the
forward-looking statements require management to make assumptions
and are subject to inherent risks and uncertainties. There is
significant risk that the forward-looking statements will not prove
to be accurate, that the management’s assumptions may not be
correct and that actual results may differ materially from such
forward-looking statements. Accordingly, readers should not place
undue reliance on the forward-looking statements.
Generally forward-looking statements can be
identified by the use of terminology such as “anticipate”, “will”,
“expect”, “may”, “continue”, “could”, “estimate”, “forecast”,
“plan”, “potential” and similar expressions. Forward-looking
statements contained in this press release may include, but are not
limited to, the completion of the private placement and the Company
receiving regulatory approval to the partial revocation order.
These forward-looking statements are based on a number of
assumptions which may prove to be incorrect including, but not
limited to, the Company receiving regulatory approval to the
private placement and the partial revocation order application.
The forward-looking statements contained in this
press release are made as of the date hereof or the dates
specifically referenced in this press release, where applicable.
Except as required by law, the Company does not undertake any
obligation to update publicly or to revise any forward-looking
statements that are contained or incorporated in this press
release. All forward-looking statements contained in this press
release are expressly qualified by this cautionary
statement.
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