Vancouver, British Columbia – March 10, 2022: ALTAIR RESOURCES INC. (“ALTAIR” or the Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W2004; WKN: WKN A2ALMP)
Mr. George S. Young, Chairman & CEO is pleased to provide the following announcements in regard to the Company’s ongoing acquisition and development activities in Burkina Faso: Snowden Optiro to complete Technical Report on Form NI 43-101 on Marbera Project
In connection with the completion of the Company’s due diligence on, and in preparation for, its acquisition of the Marbera project, the Company is pleased to announce the appointment of Snowden Optiro, Johannesburg office, to complete the NI 43-101 Technical Report on an updated Mineral Resource Estimate. Personnel from Snowden Optiro, including a professional geologist and a mining engineer, participated in the site visit conducted by the Company in January 2022, during which they inspected the site, examined core, reviewed QA/QC documentation, and performed a number of other activities in furtherance of the work.
LHC Mine Finance Ltd of London to serve as one of the Company’s Financial Advisors
The Company is also pleased to announce that it has appointed LHC Mine Finance Ltd (“LHC”) of London to serve as one if its financial advisors in connection with developing its business in Burkina Faso. LHC is a specialist natural resources mining finance company whose principals have a long history of raising capital for companies with projects on the African Continent. The agreement with LHC, which is subject to regulatory approval, calls for a monthly work fee and a commission on funds raised.
George S. Young said “We have made significant progress advancing the Marbera, Burkina Faso project and by engaging with such outstanding companies as Snowden Optiro and LHC Mine Finance we are positioned to deliver exemplary value to our shareholders.”
Information of a technical and scientific nature that forms the basis of the disclosure in this press release has been prepared and approved by Dorian L. (Dusty) Nicol, a Qualified Person, under National Instrument 43-101, and Vice President, Exploration of Altair Resources Inc.
About Altair Resources Inc.
Altair Resources’ (TSX.V: AVX) primary focus is developing the Marbera project, Burkina Faso’s newest gold mine development opportunity. Marbera has a historical resource of 1.388 million ounces of gold at a grade of 0.95 g/t (0.5 gram cut off). An updated 43-101 compliant resource estimate is underway and will be completed in Q2 of 2022. A PEA and Feasibility Study will commence immediately after. Burkina Faso is 2 nd in gold production in West Africa with four major mining companies operating successfully and 15 gold mines that have reached production. In addition, Altair shareholders own an option to acquire two producing gold mines in Kazakhstan.
For further information:
George S. Young
Chairman, CEO, Altair Resources Inc.
+1 (806) 886- 3317
[email protected] , www.altairresources.com
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This press release contains forward-looking statements with respect to the Company. By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking
Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, the completion of the private placement and the Company receiving regulatory approval to the partial revocation order. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the Company receiving regulatory approval to the private placement and the partial revocation order application. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by law, the Company does not undertake any obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.