Completion of $30 Million Expenditure at Pinson

GOLDEN, CO - Atna Resources Ltd. reported that it has received notice from Pinson Mining Company ("PMC"), a subsidiary of Barrick Gold, that it has completed the required $30 million expenditure at the Pinson property. Under the terms of the Exploration Agreement with Option for Mining Venture between PMC, Atna Resources Inc. and Atna Resources Ltd., dated August 14, 2004, fulfillment of this expenditure entitles PMC to increase its interest in the Pinson project from 30% to 70%, thereby reducing Atna's interest from 70% to 30%. Atna has not reviewed the earn-in expenditure details, yet to be provided by Barrick, to confirm fulfillment of the requirements of the Agreement.
Under the follow-up terms of the Agreement, PMC and Atna shall enter into a joint venture agreement within 90 days and PMC, the operator, shall propose an initial work program and budget within 30 days after closing of the joint venture agreement. PMC has advised that it intends to spend the first few months analyzing the exploration data generated through past expenditures and will consider the merits of moving forward with additional work at the property. "We look forward to finalizing our joint venture and working with PMC to develop this project," states James Hesketh, President and CEO.
The company's address is 14142 Denver West Parkway, Suite 250, Golden, CO 80401, 303-278-8464, fax: 303-279-3772.