Altair Gold Closes $300,000 METC Financing

Altair Resources

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 info@altairgold.com.

ALTAIR GOLD INC.

“Fayyaz Alimohamed”

Per:
Fayyaz Alimohamed
President & Chief Executive Officer

 
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