Results From The East Goldfield Property

VANCOUVER - ATAC Resources Ltd. reported on 2021 exploration work at its East Goldfield Property in Nevada and a decision to discontinue the property option. A total of 4,124 m of reverse circulation drilling was completed at the East Goldfield property. Drilling was primarily conducted around known mineralization at the historical Tom Keane mine. Additional drilling outside of the Tom Keane area tested new surface discoveries at depth. Although 2021 drilling intersected anomalous gold in all holes and results demonstrate a broad mineralized system, drilling was not able to reproduce historical highlights and surface gold grades were not replicated at depth.

"While we are disappointed with the results at East Goldfield, we had a very positive experience working in Nevada and we are able to complete our exploration program under budget," said President and CEO, Graham Downs. "Our goal was to rapidly evaluate the property by drilling to determine if it met our exploration thresholds, and unfortunately the grades weren't what we were hoping for. We remain committed to working in Nevada and are currently evaluating additional project opportunities."

RC samples splits were forwarded to ALS Minerals in Reno, Nevada, with sample preparation completed in Reno, Nevada, Carson City, Nevada, Guadalajara, Mexico, Zacatecas, Mexico and Hermosilla, Mexico. Samples were fine crushed to 70% passing 2 millimeters before a 250 gram split was pulverized to better than 85% passing 75 microns. Pulps were then analyzed at ALS Minerals in Reno, Nevada and North Vancouver, British Columbia where gold and multi-element analysis was completed. Gold analysis were by the Au-ICP21 procedure which involves fire assay fusion with a 50 g charge and an inductively coupled plasma – atomic emission spectroscopy finish. Multi-element data for 48 elements was determined by the ME-MS61 procedure, which involves a four acid digestion followed by inductively coupled plasma – mass spectrometry and inductively coupled plasma – atomic emission spectroscopy.

Rigorous procedures were in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks were routinely inserted into the sample stream to ensure integrity of the assay process. All samples included in this news release have passed the QA/QC procedures as described above.

All results reported in this release represent highlight results only. Low or below detection values for gold were encountered in unreported drill intervals.

The technical information in this news release has been approved by Adam Coulter, M.Sc., P.Geo., VP Exploration for ATAC and a qualified person for the purposes of National Instrument 43-101.