Vancouver, BC – June 25, 2012: Altair Ventures Incorporated (TSX-V: AVX; “the Company”) reports that an updated resource report for the Kena gold project near the town of Nelson in southeastern British Columbia has been filed on SEDAR. The Kena Property comprises 152 claim units for a total of 7,609 hectares and covers approximately 8,000 metres of strike length on a district-scale gold-copper system.
While multiple gold and gold-copper targets exist on the Kena Property, most drilling, and hence the resource estimate, is based upon the Gold Mountain Zone and the Kena Gold Zone. The Gold Mountain Zone comprises 1.84 million tonnes averaging 0.87g/t Au classed as Measured plus 9.01 million tonnes averaging 0.68g/t Au classed as Indicated and an additional 22.11 million tonnes averaging 0.60g/t Au classed as Inferred. The Kena Gold Zone comprises 2.91 million tonnes averaging 0.77g/t Au classed as Measured plus 11.77 million tonnes averaging 0.60g/t Au classed as Indicated and an additional 3.8 million tonnes averaging 0.70g/t Au classed as Inferred, all at a 0.30g/t Au cutoff. Total M&I resources for the two zones comprise 549,000 contained ounces of gold, while total Inferred resources comprise 513,000 ounces.
The updated NI 43-101 compliant Mineral Resource Estimate and formal report has been prepared by Gary Giroux, P.Eng, MASc. and Perry Grunenberg, P.Geo. Both authors are independent of Altair Ventures Inc. and the vendor, Sultan Minerals Inc. The updated resource incorporates drill holes completed since the previous resource estimate (Giroux and Dandy, 2004) and makes the resource current for Altair.
“The updated resource estimate on the Kena Project gives Atair an excellent foundation from which to expand the two principal zones of gold mineralization”, stated Altair’s President & CEO, Fayyaz Alimohamed. “We intend to commence diamond drilling in July, with the primary aim of building the resource, while evaluating many other exciting targets on the project”.
The Kena Property is located seven kilometres south of Nelson, British Columbia and is readily accessible by highway and secondary logging roads. The property lies predominantly within lower Jurassic Elise Formation (Rossland Group) mafic volcanics and associated mid Jurassic Silver King intrusive rocks.
Altair can acquire up to a 75% interest in the Kena property from Sultan Minerals Inc.
The Qualified Person for the Kena Property is Mr. Warner Gruenwald, P.Geo. and VP Exploration for Altair Ventures Inc.
For further information please contact Justin Schroenn at (604) 780-1371, or [email protected]
ON BEHALF OF THE BOARD
Fayyaz Alimohamed, President & CEO
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.