Vancouver, BC –September 5, 2013: Altair Gold Inc. (TSX-V: AVX; the “Company” or “Altair”) is pleased to announce that it has entered into a loan agreement, general security agreement and promissory note with Espresso Capital Tax Credit II Fund Limited Partnership (“Espresso) for mineral exploration tax credit bridge financing in the principal amount of $300,000 (the “Loan”). Interest will be charged on the outstanding principal amount of the Loan at a rate of 1.59% per month (or 20.84% per annum) calculated and compounded monthly. The Loan is secured by a general security agreement on Altair’s assets. In connection with the Loan, Altair agreed to pay cash fees to an arms’ length party equal to 4% of the principal amount of the Loan, and a commitment fee to Espresso of 4%. The Loan proceeds will be applied to the Company’s cash payment obligations under its Kena Property option agreement with Sultan Minerals Inc. (TSX-V:SUL) and for working capital needs. The Loan will be repaid from the anticipated METC refund of $ 413,455.
For further information please contact Fayyaz Alimohamed at (604) 641-1305, or e-mail [email protected].
ALTAIR GOLD INC.
“Fayyaz Alimohamed”
Per:
Fayyaz Alimohamed
President & Chief Executive Officer
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.
