Atna Resources Ltd (C-ATN) - News Release

Atna Resources' Pinson being explored by Pinson Mining

2007-09-18 09:09 PT - News Release
Shares issued 64,676,838
ATN Close 2007-09-17 C$ 1.53

Mr. David Watkins reports

ATNA REPORTS WORK UNDERWAY AT PINSON PROJECT

Atna Resources Ltd. is releasing information on the progress of work by Pinson Mining Co., a subsidiary of Barrick Gold Corp., on the Pinson mine property, Humboldt county, Nevada. Pinson Mining Co. has exercised its right to increase its interest in Pinson to 70 per cent by spending $30-million (U.S.) to advance exploration and development of the property before April 6, 2009. The work planned includes:

• Rehabilitation and further development of the underground workings;
• Surface and underground drilling for further definition and delineation of the mineral resource;
• Completion of a feasibility study;
• Drilling of other exploration targets on the property.

Atna Resources has been advised that two reverse circulation drills are precollaring holes in the mine area. One core drill has begun to drill tails on the precollars while the arrival of a second core rig is pending. Dewatering has restarted and the underground fans have been turned on for ventilation in anticipation of re-entering the workings in the fourth quarter. Work is reported to be progressing well.

Pinson Mining Co. has appointed John Porterfield as project manager at Pinson and Dave Arbonies as senior project geologist. Both gentlemen bring many years of mining experience to the Pinson project. David Watkins, president and chief executive officer of Atna, said: "We are pleased that Pinson Mining Co. has appointed a senior team with many years of mining and development experience in Nevada to carry the project forward. We are optimistic the project will ultimately benefit from existing infrastructure in the area. Atna is thrilled to be playing a key role in the enterprise."

The Pinson property is located just south of the Turquoise Ridge and Getchell mines and eight miles from Newmont's Twin Creeks mining complex. Exploration and development by Atna Resources have defined a measured and indicated resource of 1.06 million ounces of gold at an average grade of 0.42 ounce per ton and an additional inferred resource of 1.15 million ounces of gold with an average grade of 0.34 ounce per ton (as reported in Stockwatch on July 11, 2007). Atna Resources currently holds a 70-per-cent interest in the Pinson property; Pinson Mining Co. holds 30 per cent. If Pinson Mining Co. does not complete the earn-back expenditure within the agreed time, Atna Resources will be reappointed operator and the project will proceed as an Atna Resources (70 per cent) and Pinson Mining Co. (30 per cent) joint venture.

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