Vancouver, BC – May 16, 2014: Altair Gold Incorporated (“Altair” or the “Company”) (TSX-V: AVX) is pleased to announce that it has made its $200,000 payment due to Sultan Minerals Inc. (“Sultan”) under its Option Agreement for the Kena project. The $300,000 payment to Sultan, that was to come due on June 30, 2014, has, with Sultan’s consent, been deferred to September 30, 2014.
Altair has also received TSX Venture Exchange (the “Exchange”) approval to extend the period available to close the further tranches of its financing (the “Private Placement”), announced in a news release dated April 17, 2014, to June 23, 2014, with the Exchange reserving the right to re-review the subscription price upon receipt of final documentation.
For further information please contact Fayyaz Alimohamed at 604 641 1305, or e-mail [email protected].
Altair Gold Incorporated
Fayyaz Alimohamed, President & CEO
Forward-Looking Statement Caution
This news release contains certain “forward-looking statements”, within the meaning of Canadian securities legislation, relating to the Private Placement and the option to acquire the Kena property. Although Altair believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of Altair’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Altair disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law and stock exchange policies. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: Altair’s inability to secure subscriptions from subscribers to complete the Private Placement in whole, a management decision to change the use of proceeds based on changing circumstances and Altair’s inability to obtain the Exchange approval required to complete the Private Placement. Altair might encounter problems such as the significant depreciation of metals prices, accidents and other risks associated with mining exploration, the risk that Altair will encounter unanticipated geological factors, the possibility that Altair may not be able to secure permitting and other governmental clearances, or the additional financing, necessary to carry out Altair’s exploration plans, and the other risk factors discussed in greater detail in Altair’s various filings on SEDAR (www.sedar.com) with Canadian securities regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO US NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. THE SECURITIES TO BE ISSUED UNDER THE PRIVATE PLACEMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (AS AMENDED) OR ANY STATE SECURITIES LAWS, AND UNLESS SO REGISTERED MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS. THIS PRESS RELEASE IS ISSUED PURSUANT TO RULE 135(C) OF THE UNITED STATES SECURITIES ACT OF 1933 (AS AMENDED), AND DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.