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Message: Atomic proposes to reprice warrants; grants 650,000 stock options

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Atomic proposes to reprice warrants; grants 650,000 stock options

posted on Jun 10, 08 05:17AM

Atomic proposes to reprice warrants; grants 650,000 stock options

VANCOUVER, Jun 10, 2008 (Canada NewsWire via COMTEX News Network) --

TSX-V: ATL

FRG: MJ7

Atomic Minerals Ltd. (ATL: TSX-V) announces that it will make an application, subject to TSX Venture Exchange approval, to reduce the exercise price of certain outstanding warrants from $0.75 per common share to $0.25 per share. These warrants were originally issued on June 1, 2007 as part of a private placement of $0.50 units, each of which consisted of one share of Atomic and one-half of one share purchase warrant. These warrants expire on June 1, 2009. The proposed repricing of these warrants is also subject to the approval of all warrantholders, which Atomic is currently seeking.

Atomic also announces that it has granted incentive stock options to certain directors, officers and consultants of the Company to purchase up to 650,000 common shares in the capital stock of the Company pursuant to an approved share option plan. The options are exercisable at a price of $0.20 per share on or before June 6, 2013, subject to the approval of the TSX Venture Exchange.

About Atomic Minerals

Tanzania

Atomic holds an option to earn up to a 100% interest in a land package totalling approximately 3800 square kilometres located in the United Republic of Tanzania (the "Properties") from Geo Can Resources Company Ltd. ("Geo Can"). The largest of the Properties are located in south-western Tanzania and are considered to be part of the "Malawi Extension" based on the location of the Property relative to blocks earmarked as potentially favourable for uranium enrichment. The Malawi Extension, located in the Republic of Malawi on south-west border of Tanzania, hosts the Kayelekera deposit which Paladin Resources is currently developing into a mine. Other mining companies exploring in the area include Mantra Resources and Western Metals (both in Tanzania).

Colorado

Atomic Minerals Ltd. also holds leases over a total of 932 mining claims located in both Dolores and San Miguel counties in south-western Colorado, approximately 30 miles from Denison Mine Corp's White Mesa Mill. Atomic holds leases over an additional 272 mining claims located in the northern part of Colorado in Grand County.

"Warren McIntyre"

Warren McIntyre

President and Chief Executive Officer

Atomic Minerals Ltd.

The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this news release.

SOURCE: Atomic Minerals Ltd.

Renmark Financial Communications Inc.: Jason Roy, jroy@renmarkfinancial.com; Victoria Stepanova, vstepanova@renmarkfinancial.com; (514) 939-3989, Fax : (514) 939-3717, www.renmarkfinancial.com

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