Exploration Update And Drill Program For East Goldfield Project

VANCOUVER - ATAC Resources Ltd. updated exploration activities at its road-accessible East Goldfield Property, located in the Goldfield Mining District of Nevada. The Goldfield Mining District has a reported historical gold production of 4.2 million ounces at a grade of 18.55 g/t. The Property hosts the historical Tom Keane mine, where shallow reverse circulation ("RC") drilling by a previous operator, subsequent to limited underground mining, returned 22.86 m of 2.88 g/t gold and 44.20 m of 1.03 g/t gold.

"We are excited by these first pass prospecting results from East Goldfield," stated President and CEO, Graham Downs. "Work to date indicates we are at the top of an extensive high sulphidation epithermal ("HSE") system, and we are optimistic that like elsewhere in the Goldfield district, gold response will be even stronger at depth. Importantly, these results confirm there is significant gold present in multiple widespread HSE alteration zones, and we look forward to drill testing these targets this summer. Crews are back on site now conducting prospecting at the new soil anomalies, following up on the phase 1 rock results and siting drill locations."

The phase 1 prospecting program consisted of 213 rock and chip samples, with results ranging from below detection to 2.08 g/t gold. Broad ridge and spur sampling was conducted in addition to focused work at soil anomalies, quartz ledges, and historical trenches. This work focused on a 1,200 x 800 m priority area defined by anomalous gold-in-soil response coincident with HSE alteration minerals (alunite, dickite, pyrophyllite) observed in an airborne hyper spectral survey.

Chip sampling across this priority area identified three distinct quartz ledge systems, returning up to 2.08 g/t gold over 3 m, 1.28 g/t gold over 3 m, and 1.10 g/t gold over 2 m. Chip sampling across historical trenches returned up to 1.58 g/t gold over 3 m on a separate ledge 130 m north of the Tom Keane mine. Rock samples collected from the mine waste pile returned up to 1.83 g/t gold. The follow-up soil sampling program included a total of 337 soil samples, with results ranging from below detection up to 424 ppb.

A contract was recently secured with a local contractor for a 4,000 m RC drill program scheduled to begin in August. The proposed work program will fall within the limits of an exploration notice, which will be filed shortly. Work will include: Drilling nearby the historical Tom Keane mine, where Metallic Ventures Gold Inc. reported 22.86 m of 2.88 g/t gold and 44.20 m of 1.03 g/t gold in 2003; and Regional drilling to test priority targets identified by prospecting work.

Ongoing fieldwork is being conducted by local US-based consultants and no impacts or delays are anticipated as a result of the global COVID-19 pandemic.