Altair Adds Prince Zinc-Lead-Silver-Manganese MINE to Pioche Portfolio, Nevada, USA
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ALTAIR ADDS PRINCE ZINC-LEAD-SILVER-MANGANESE MINE TO PIOCHE PORTFOLIO, NEVADA, USA
VANCOUVER, BRITISH COLUMBIA – May 25th, 2017: ALTAIR RESOURCES INC. (“Altair” or the
“Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. Harold
(Roy) Shipes, President and CEO, is pleased to announce that the Company has acquired a Lease and
Option to Purchase (“Lease/Option”) over the Prince zinc -lead-silver-manganese Mine located near
Altair’s Caselton 2,000 tpd processing facility, Pioche Mining District, Lincoln County, Nevada, USA.
The Lease/Option was originally held by International Silver Inc., a private Arizona corporation
(“ISI”) pursuant to a lease and option to purchase agreement dated November 6, 2010 between ISI and
Prince Mine LLC, a private Nevada corporation (“Prince”). Under the original agreement, ISI leased the
project at a cost of US$50,000 per year with an option to purchase t he mine for US$2,750,000 (with
previous lease payments being applied to the purchase price). Under the terms of an assignment
agreement between IMI and Altair: (a) the Lease/Option will be assigned to Altair; (b) Altair will pay
Prince US$200,000 represen ting unpaid lease payments for 2013 -2016, by November 2017, and
complete reclamation of drill sites cleared in 2012 (cost estimated at less than US$20,000 ); and (c) the
Lease/Option will be extended to November 1, 2022. Once assigned, the Lease/Option wil l continue in
effect with annual lease payments of US$50,000 with an option to purchase the project at any time in
consideration of US$2,750,000 (less previous lease payments). Harold Shipes, Altair’s President and CEO
is a director, officer and sharehold er of ISI and accordingly, this transaction is not an arm’s length
transaction.
The propert y includes 227 acres of patented surface and mineral rights contained in 12 patented
mineral claims. The property has historical workings including a shaft to 850 f eet (259m) and several
levels of drifts.
Altair anticipates that the Prince Mine will provide additional mill feed for the recently acquired 2 ,000
tpd Caselton concentrating plant located only 1.5 miles (2400m) to the north. Said Mr. Shipes CEO “This
acquisition is part of our strategy to develop our holdings in Nevada and to ensure we have identified
other properties which can provide feed for the Caselton mill which we have under contract.”
The Company will be conducting initial exploration work on this property and further news on this
acquisition will be forthcoming. The technical information in this Press R elease has been reviewed and
approved by Dr. Stewart A . Jackson PGeo., a Qualified Person under National Instrument 43 -101, and a
Technical Advisor to the Company.
To learn more about Altair, please visit http://altairresources.com.
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ON BEHALF OF THE BOARD,
“Harold Shipes”
Harold Shipes, 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.