Atna Initiates Development Of Reward Gold Mine

 

GOLDEN, CO - Atna Resources Ltd. reported that the Nevada Division of Environmental Protection (NDEP) has issued a Reclamation Permit for  the Reward Gold Mine near Beatty, Nevada, that became effective February 7, 2010.  This permit, subject to the placement of reclamation bonds, will allow Atna to commence construction of the Reward Mine.

Jim Hesketh, President and CEO stated "Receiving this permit is

exciting news because it enables us to accelerate the development of

the Reward deposit. We have hired a project manager to oversee mine

development and plan to open an office in Beatty, Nevada, in the near

future."

Immediate development activities will include the completion of design

engineering, development of contractor bid packages, and initial

infrastructure development at the site.  Infrastructure development

includes access road improvements, fencing, and placement of orders for

long lead-time items, power line and water supply development.

Anticipated cost for this phase of work will be approximately US$3.0

million to be expended over a period of six months.

Phase 2 activities will include the construction of leach pad

facilities, purchase of a semi portable crushing plant, and

installation of office, lab and shop facilities. Pre-stripping of mine

waste would also commence simultaneously with the other construction

activities. Timing on this construction phase will be dependent upon a

number of factors including availability of free cash flow from our

Briggs Mine operation, availability of equipment, staffing and other

financing and logistical issues. We anticipate that Phase 2

construction could be completed within a nine month period after the

completion of Phase 1.     

A new estimate of mineral reserves is being developed for the Reward

Project based on the current three year trailing average gold price of

US$845 per ounce. Prior reserve estimates were calculated using a gold

price of US$700 per ounce. Detailed information on the project is

contained in a technical report dated March 21, 2008, prepared by

Chlumsky, Armbrust & Meyer, LLC., titled "NI 43-101 Technical Report -

Reward Gold Project, Nye County, Nevada.

The company’s address is 14142 Denver West Parkway, Suite 250, Golden, CO 80401, (303) 278-8464, fax: (303) 279-3772.