Atna Resources Ltd.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Atna Resources Ltd. is building a successful gold mining company dedicated to responsible gold production and the creation of sustainable value for shareholders, employees and communities. Atna's gold development operations are well funded with over US$25 million cash on hand. The primary focus of the Company is the re-start of mining operations and gold production at the Briggs Mine in Inyo County, California, by the end of first quarter of 2009.

PROJECT IN HAND

(1) Briggs Gold Mine, Inyo County, California

The wholly owned Briggs gold mine, situated in the desert of southeastern California, is an open-pit, gold leach operation constructed in 1996 and has produced over 550,000 ounces of gold since production commenced. Mining ceased at Briggs in early 2004. Re-starting the Briggs Mine in light of today's gold market is Atna's top priority. The mine is fully permitted with existing plants, infrastructure, and mobile equipment.

A technical report detailing the estimation of open-pit and underground reserves and resources at the Briggs mine was completed in April 2008. The report supports the re-start of mining operations at the Briggs mine.

Key development activities have commenced with a goal of producing gold by end of the first quarter of 2009, at an annualized production rate of approximately 30,000 ounces of gold per year. The Company has sufficient cash to fully finance the re-start of operations at the Briggs mine. Activities at Briggs include:

• The pre-stripping operations began in mid-October.

• The one-million-square-foot leach pad expansion has been progressing on schedule.

• Refurbishment of existing mining equipment is complete.

• Staff recruitment is underway; site management positions have been filled.

• An updated mine optimization study is expected to be released before the end of 2008, with the goal of bringing underground resource into open pit designs to reduce unit costs, increase reserves, and to extend the life of the project.

During October, 2008, the Company commenced new infill drilling under the main pit at the Briggs mine and new step-out drilling at its satellite deposit Cecil R located 4 miles north of the Briggs mine. The project will include up to 25,000 feet of reverse circulation rotary drilling. The primary goals of the drilling program are:

• Exploration of potentially significant gold mineralization beneath the current proven and probable reserves in the main pit at the Briggs mine. This work may add considerably to the mine life and/or annual production rate.

• Infill drilling at the Briggs mine to upgrade inferred resources to proven and probable reserve categories to facilitate cost-effective mine planning.

• Expansion of the Cecil R project's mineralized zone to the south to allow completion of an NI 43-101 technical report and resource estimate for this deposit.

(2) Pinson Gold Mine, Getchell Gold Belt, Humboldt County, Nevada

Atna owns a 70% interest in the Pinson gold property, and Pinson Mining Company (PMC), a wholly owned subsidiary of Barrick Gold Corp., owns 30%. PMC may reverse the parties' interests by spending US$30 million on further work to advance and develop the property before April 6, 2009. PMC spent US$5.0 million on drilling and development at Pinson in the third quarter of 2008, bringing its total project-to-date expenditures to US$18.2 million.

PMC 2008 Underground Plan:

• 30,895 foot underground drilling program underway

• 12,250 feet underground development

• Four dewatering wells - two complete and started a third

• Core infrastructure projects complete

Goals of PMC Program:

• Underground vs. open pit trade-off studies

• Reserve development drilling

• New target exploration

• Feasibility study prior to April 2009

• Advance toward production

A total of eight drills were active on the property during the third quarter of 2008. The two surface diamond drills targeted the Range Front, CX and MAG zones, while the two underground diamond drills are infill drilling on the Ogee and Range Front zones. Forty-seven drill holes were completed and five were in progress at the end of the third quarter of 2008. A total of 9,895 feet of RC drilling and 17,122 feet of core were completed.

PMC's work program and activities are designed to take the project to a near production status and may facilitate a second quarter 2009 production decision.

(3) Reward Gold Mine, Nye County, Nevada

The Company completed a positive economic feasibility study for its wholly owned Reward gold project. The feasibility study recommends development of a conventional open-pit mining, ore crushing and heap leach gold production operation. The project has good operating synergies and cost benefits from the nearby Briggs mine. Permitting activities at the Reward gold project have rapidly advanced with the completion of several major permits, receipt of a biologic opinion and filing of a number of additional permit applications.


MINERAL RESERVES & RESOURCES (NI 43-101)

(1) Measured and indicated resource includes proven and probable
(2) Pinson: Project Basis: Atna owns 70%, Barrick 30%; Barrick may reverse interest to 30:70 by spending US$30 million by April 6, 2009.
(3) OP= Open Pit
(4) UG=Underground


MANAGEMENT

Atna Resources Ltd. has a professional management team with experience in different areas.

David Watkins, M.Sc., Executive Chairman & Chief Executive Officer
Mr. Watkins is an international mining executive with 40 years experience in exploration and development, acquisitions and mergers, and mining operations. Mr. Watkins was President of Cyprus Exploration and Development Corporation and Senior Vice President, Exploration for Cyprus Amax Minerals Company for six years prior to joining Atna.

Cyprus Amax (recently acquired by Phelps Dodge Corporation) was a U.S. based Fortune 500, multi-national mining company, which produced copper, molybdenum, gold, lithium, and coal, and had annual revenue of US$3.2 billion. Mr. Watkins joined Falconbridge Copper Ltd. as an Exploration Geologist in 1977 and became Chief Geologist responsible for exploration in Quebec and mine operations at Lake Dufault and Opemiska in 1980.

Mr. Watkins was appointed Vice President, Exploration in 1986 and rose to the position of President of Minnova Inc., the successor company to Falconbridge Copper, in 1991. Minnova was a base metal and gold mining company with five operating underground and open pit mines with 2,000 employees in Quebec, Ontario and British Columbia. During Mr. Watkins tenure at Minnova, the company experienced rapid growth and achieved a market capitalization of $500 million.

Mr. Watkins graduated with a M.Sc. degree in Geology from Carleton University in Ottawa in 1970 and a B.A. in Geology from Queen's University at Kingston in 1967. During the early part of his career, Mr. Watkins worked with Newmont Mining and with Noranda as an exploration geologist in various parts of the world, including Australia, Mexico, Ecuador, and Canada.

James Hesketh, M.Sc., President and Chief Operating Officer
Mr. Hesketh's primary goal is to increase the value of Atna to its shareholders by focusing on developing positive cash flow from operations and longer term by growing the Company into a low cost mid tier gold producer. Mr. Hesketh has a diverse career in the mining industry, over 30 years in positions covering mining finance, corporate business development, mine operations, mine engineering and consulting.

David Suleski, BBA, CPA, Vice President & Chief Financial Officer
Mr. Suleski has over 25 years experience on the financial side of the mining industry. Mr. Suleski is responsible for the accounting, administrative and the treasury functions of the Company. Prior to joining Atna Resources, Mr. Suleski was Vice President, CFO, Treasurer and Corporate Secretary for Canyon Resources and prior to that he was Assistant Controller and Treasurer for Golden Star Resources.

William (Bill) R. Stanley, B.Sc., MBA, Vice President, Exploration
Mr. Stanley was appointed Vice President of Exploration in 2004. Mr. Stanley is a mineral exploration geologist with over 30 years experience in the mining industry. While the vast majority of Mr. Stanley's exploration experience is in the Western United States, he has also developed and led international exploration efforts in Mexico, Chile, and New Zealand.

NEWS UPDATE

On December 9, 2009, Atna Resources Ltd. announced that it has closed a private placement offering of US$14.5-million of gold participating bonds. Atna intends to use the proceeds of the offering to initiate construction and development of its Reward gold mine in Nevada, and for general corporate purposes.

On August 24, 2009, Atna Resources Ltd. announced that the US Bureau of Land Management has signed the Record of Decision and Finding of No Significant Impact to approve development of the Reward Gold Project located near Beatty, Nevada. The Company has initiated discussions with various groups to arrange project financing for construction.

On June 8, 2009, Atna Resources Ltd. announced the encouraging results of its second phase of drilling into the newly discovered Briggs Main Deep ("BMD") area at its Briggs Mine in Inyo County, California. The results of the second phase of drilling continues to indicate a significant zone of gold mineralization located directly beneath the current mineable reserves at its 100% owned Briggs Mine.

The 8 new reverse circulation rotary drill holes (7,450 ft) have extended the BMD mineralization to the north, south, and east of the previous drilling results. Please visit the Company's website www.atna.com for complete drill results.

On June 4, 2009, Atna Resources Ltd. reported that Barrick Gold has delivered all assay results from its recent drilling programs at the Pinson Mine Project, Humboldt County, Nevada. The Pinson Mine Project is a Mining Joint Venture with Pinson Mining Company ("PMC), a subsidiary of Barrick Gold, owning a 70% interest and Atna owning 30% interest in the project. PMC is the operator of the venture. 

The Pinson project continues to host numerous high grade gold intercepts on a number of structures all located in a relatively small area. Between three and four months will be required to complete this technical analysis that will be the basis for the future development of the project. Please visit the Company's website www.atna.com for complete drill results.

On May 15, 2009, Atna Resources Ltd. reported unaudited financial results for the Company's first quarter results for the period ended March 31, 2009.

Financial Results:

For the three months ended March 31, 2009, Atna recorded net loss of $0.9 million, or basic loss per share of $0.01, on proceeds of nil. This compares to a net loss of $0.9 million, or a basic loss per share of $0.01, on revenues of nil for the three months ended March 31, 2008. There was no total variance in the results between the quarters.
At March 31, 2009, cash and short term investments totaled $11.5 million, which represented a net decrease of $9.1 million during the quarter. The net decrease was due primarily to $3.0 million of cash used in operating activities and $6.1 million used in development activities at the Briggs Mine.

On May 13, 2009, Atna Resources Ltd. announced that it has made the first pour of approximately 300 ounces of gold in dore at the newly re-started Briggs Mine in Inyo County, California. Facility construction at the mine is complete. The focus at the site is now to increase gold production to a target level of 40,000 ounces per year by the end of 2009. "Our first gold pour is a major milestone in Atna's transition from an exploration company to a mid-tier gold producer. We are very pleased with the rapid re-start of the Briggs Mine," states James Hesketh, President & CEO.

On May 1, 2009, Atna Resources Ltd. announced that it has received final payment in Marg property sale. The Marg property is located in the Mayo mining district of the Yukon Territory of Canada. The Company has acquired beneficial ownership of 6,838,906 common shares of Yukon Gold Corporation, Inc. at a deemed price of 3.29 cents per share pursuant to the property purchase agreement dated November 25, 2004, between Medallion Capital Corp. and Atna Resources Ltd.

On April 9, 2009, Atna Resources Ltd. announced that it has entered into a mining venture agreement for the Pinson gold project in Nevada with Pinson Mining Company (PMC). Under the mining venture agreement, Atna will own a 30% equity interest in the joint venture and PMC will own 70%. PMC will manage the project.

On November 14, 2008, Atna Resources Ltd. released its unaudited financial results for the Company's third quarter ended September 30, 2008.

Highlights for the period:

· Closed the US$20 million sale of a royalty portfolio, including the Wolverine royalty;
· Accelerated the Briggs gold mine restart with a portion of the proceeds from the sale of royalties;
· Permitting activities at the Reward gold project has rapidly advanced with the completion of several major permits, receipt of a biologic opinion and filing of a number of additional permit applications;
· Commenced new infill drilling under the main pit at the Briggs mine and new step-out drilling at its satellite deposit Cecil R located 4 miles north of the Briggs mine;
· Yamana Gold Inc. commenced a second round of drilling on Atna's Clover project in Elko county in Nevada;
· Lowlight - United States Supreme Court denied grant of certiorari in the McDonald takings case.

Disclaimer

Copyright (c) 2000 - 2008 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印