http://www.marketwire.com/press-release/atac-resources-drills-1630-m-1573-g-t-gold-3012-m-838-g-t-gold-conrad-zone-rackla-gold-tsx-venture-atc-1704609.htm

ATAC Resources Ltd.

TSX VENTURE : ATC

September 24, 2012 07:30 ET

ATAC Resources Drills 16.30 m of 15.73 g/t Gold and 30.12 m of 8.38 g/t Gold at the Conrad Zone, Rackla Gold Project-Yukon

VANCOUVER, BRITISH COLUMIBA--(Marketwire - Sept. 24, 2012) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report results of 28 diamond drill holes recently completed at the Conrad Zone within the Nadaleen Trend, at the eastern end of its 100% owned 1,600 sq/km Rackla Gold Project in central Yukon.

Diamond drill result highlights:

•16.30 m grading 15.73 g/t gold in OS-12-141 (Section C600E)
•42.68 m grading 6.19 g/t gold in OS-12-170 (Section C400E)
•30.12 m grading 8.38 g/t gold in OS-12-169 (Section C600E)
•54.86 m grading 4.32 g/t gold in OS-12-130 (Section C650E)
•74.67 m grading 3.08 g/t gold in OS-12-168 (Section C700E)
•65.53 m grading 2.53 g/t gold in OS-12-165 (Section C450E)
•28.46 m grading 5.20 g/t gold in OS-12-149 (Section C450E)
•15.24 m grading 8.68 g/t gold in OS-12-148 (Section C350E)
•19.01 m grading 6.60 g/t gold in OS-12-163 (Section C450E)
•30.48 m grading 8.60 g/t gold and 24.38 m grading 9.08 g/t gold in OS-12-183 (Section C300E)
"These results continue to demonstrate the excellent grade and continuity of gold within the near- surface area of the Conrad Zone," commented Graham Downs, ATAC's CEO. "We are also very excited about the well mineralized structurally controlled solution collapse breccia zone that is developing lower in the Conrad system."

Conrad Zone

The Conrad Zone is one of four significant drill tested zones of Carlin-type gold mineralization located within a 3 by 4 km area at the eastern end of the 40 km long Nadaleen Trend. The other zones within the cluster are the Osiris, Isis and Isis East Zones.

Mineralization at the Conrad Zone is contained within several structural and stratigraphic settings. Characteristic Carlin-type hydrothermal alteration, consisting of decalcification and silicification accompanied by the arsenic sulphide mineral realgar, is focused along the contact of limestone with an overlying pyritic siltstone cap unit, with the thickest and best mineralized areas in or near the crest of an anticline fold. Drilling continues to outline at or near-surface mineralization along this 200 m wide corridor with consistently greater thickness and higher gold grades than encountered in previous widely spaced holes that had largely tested the anticline limbs.

Holes OS-12-130, 141, 163, 165, 169, 175 and 183 intersected the well mineralized crest of the anticline (see table below). Previously released 2012 Conrad Zone intersections in the crest of the anticline include 42.93 m of 18.44 g/t gold (OS-12-114), 46.06 m of 11.24 g/t gold (OS-12-103) and 40.30 m of 10.10 g/t gold (OS-12-098). Drilling at 50 m spacing, both horizontally and vertically, has been completed along the crest of the anticline for a distance of 350 m. The overall strike length of the Conrad Zone is 475 m based on results received to date, but the downward plunge of the anticline crest at both ends of the Conrad Zone leaves it open to extension to the east and west under cover rock. Three drills are currently working to extend the length of the Conrad Zone with wide-spaced holes beyond the 475 m strike length.

Well mineralized solution collapse breccias also occur lower in the Conrad limestone below the gold-enriched anticline. They occur at the intersection of a flat-lying fault zone with a near vertical fracture system. Hole OS-12-130 intersected 7.80 m of 10.21 g/t gold on Section C650E which is within the fracture system and adjacent to the previously released 56.93 m of 4.68 g/t gold in hole OS-12-116. Wide-spaced drilling on adjacent sections has recently intersected 28.46 m of 5.20 g/t gold on Section C450E (OS-12-149), 42.68 m of 6.19 g/t gold on Section C400E (OS-12-170) and 2.66 m of 21.34 g/t gold on Section C350E (Hole OS-12-148), which may represent on-strike extensions. A number of other lower intersections occur on other cross-sections, one of which intersected 4.38 g/t gold across 24.39 m in OS-12-149 on Section C450E. These additional lower intersections may be from other parallel zones of similar structurally controlled mineralization but, are currently too widely spaced to make specific correlations.

Conrad Zone drill hole cross-sections and a plan view map can be viewed on the Company's website at www.atacresources.com. Significant new results for the Conrad Zone drilling are tabulated below.

Drill Hole Cross
Section From
(m) To
(m) Interval
(m) Au
(g/t)

OS-12-130 C650E 60.35 115.21 54.86 4.32
including 95.00 109.64 14.64 11.05
and 216.30 224.10 7.80 10.21
and 243.43 261.52 18.09 4.60
including 243.43 249.33 5.90 10.88

OS-12-134 C550E 366.00 378.87 12.87 2.45
and 388.01 400.20 12.19 1.99
and 437.98 458.11 20.13 4.28
and 473.35 482.50 9.15 2.59

OS-12-138 C650E 42.67 64.01 21.34 1.61

OS-12-141 C600E 40.54 56.84 16.30 15.73

OS-12-142 C550E 13.41 42.37 28.96 1.95

OS-12-144 C550E 4.19 28.96 24.77 2.64

OS-12-145 C600E 47.24 59.44 12.20 1.76
and 82.30 103.63 21.33 1.30
and 317.08 321.56 4.48 8.62

OS-12-148 C350E 18.29 33.53 15.24 8.68
and 66.00 83.82 17.82 4.88
and 92.96 105.16 12.20 3.07
and 382.52 403.86 21.34 2.66
including 392.22 397.40 5.18 7.72

OS-12-149 C450E 291.00 304.19 13.19 7.02
and 343.81 351.28 7.47 4.72
and 362.10 379.91 17.81 2.18
and 409.84 438.30 28.46 5.20
including 418.23 422.58 4.35 11.51
and 465.73 484.02 18.29 3.49
and 526.69 551.08 24.39 4.38
including 532.79 541.93 9.14 8.59
and 602.89 612.04 9.15 4.54

OS-12-153 C700E 90.53 95.10 4.57 7.90
and 213.32 222.27 8.95 2.61

OS-12-156 C300E 137.16 155.97 18.81 1.18

OS-12-161 C300E 259.43 263.47 4.04 11.14

OS-12-163 C450E 9.14 28.15 19.01 6.60
including 22.86 28.15 5.29 12.32
and 42.67 62.48 19.81 3.31

OS-12-164 C500E 225.30 240.18 14.88 2.87

OS-12-165 C450E 13.72 79.25 65.53 2.53
and 86.99 90.26 3.27 11.56


OS-12-168 C700E 18.29 92.96 74.67 3.08
including 36.58 48.77 12.19 8.53
and 246.28 255.42 9.14 3.03

OS-12-169 C600E 14.69 44.81 30.12 8.38
including 18.09 25.39 7.30 16.72

OS-12-170 C400E 340.76 383.44 42.68 6.19

OS-12-174 C700E 57.00 78.33 21.33 1.89
and 131.67 143.87 12.20 3.65

OS-12-175 C650E 13.11 80.47 67.36 1.58
including 13.11 25.30 12.19 3.13

OS-12-176 C500E 431.90 439.83 7.93 3.92

OS-12-183 C300E 92.35 122.83 30.48 8.60
including 101.50 113.69 12.19 12.90
and 131.98 156.36 24.38 9.08
including 138.07 147.22 9.15 15.17
* Holes OS-12-127, 132, 137, 146, 152, and 157 were abandoned short of target or drilled outside the limits of the mineralized zone and did not intersect significant mineralization.

** The reported intersections are drilled thicknesses and are believed to represent approximately 50 to 100% true widths.

Drilling Update

A total of four diamond drills continue to test the Conrad Zone and the newly discovered Anubis Zone 10 km to the west of Conrad. Three drills are currently testing the on-strike extensions of the Conrad Zone while the remaining Anubis drill is testing a parallel lineament 500 m northeast of the initial Anubis discovery hole (AN-12-001). The proposed two phase 2012 drill program of 30,000 m was achieved in late August and under budget. To date, a total of 35,000 m of drilling has been completed. Diamond drilling will continue into early October.

QA/QC

Samples were forwarded to ALS Minerals in Whitehorse, Y.T. or North Vancouver, B.C. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver where gold determinations were carried out. Splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Mercury analyses are performed using atomic absorption spectroscopy (AAS).

Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.

The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President of ATAC Resources Ltd. and a qualified person for the purposes of National Instrument 43-101.

About ATAC

ATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold discoveries at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.

Graham Downs, CEO

ATAC Resources Ltd.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors.

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 NEWS RELEASE.

Contact Information

ATAC Resources Ltd.
Vanessa Pickering
Manager, Corporate Communications
604-687-2522 ext. 260
[email protected]
www.atacresources.com