Altair Advances Due Diligence ON Kazakhstan Projects with Progress ON 43-101 Report and Site Visits BY Management and Technical Consultants
Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
ALTAIR ADVANCES DUE DILIGENCE ON KAZAKHSTAN PROJECTS WITH PROGRESS ON 43-101
REPORT AND SITE VISITS BY MANAGEMENT AND TECHNICAL CONSULTANTS
August 26, 2021
Vancouver, British Columbia – August 26, 2021: ALTAIR RESOURCES INC. (“ALTAIR” or the Company”)
(TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W2004; WKN: WKN A2ALMP) - Mr. George S. Young,
Chairman and CEO is pleased to announce, further to the Company’s press releases of July 12 and August
4, 2021, that Altair has advanced with the preparation of a Technical Report on Form NI 43 -101 by
International Mining Services Ltd. of Almaty, Kazakhstan on the producing gold projects in Kaza khstan
included in the acquisition agreement announced by the Company . Altair expects that the report will
provide a current mineral resource estimate on the two producing gold projects being acquired, further
updating the SRK reports referenced in the Company’s press releases. In addition, the company expects
that the work will include evaluations leading toward the preparation of a full Preliminary Economic
Assessment (“PEA”) for the expansion of the operations in the oxide portions of the properties as well as
the commencement of additional production in the sulfide zones.
In addition, this week and next week, Company management including its CEO and several technical and
geological consultants ar e conducting site visits to the projects to advance forward with due diligence
evaluations. The consultants include personnel from a highly reputable engineering firm with significant
experience designing and constructing gold plants for mid-tier public gold companies at 8 separate gold
properties in Turkey and Kazakhstan.
The reader is cautioned that historical gold resources cannot be relied upon as they need to be confirmed
by a qualified person through additional sampling, analysis and possibly additional drilling. A National
Instrument 43-101 mineral estimate report on the property has now been commissioned by the company
to qualify the historical estimate and profile the property characteristics.
Acquisition highlights
The two gold -producing properties in eastern and central Kazakhstan contain a total historic indicated
resource of 947,900 ounc es of gold, open pit and underground, and a total historic inferred resource of
892,600 oz of gold, open pit and underground.
Current aggregate gold production at the two properties is approximately 21,000 ounces of gold per year
from the oxide zones of each property.
Highlights of the Eastern Kazakhstan property (the A gold deposit and the nearby high-purity quartz B gold
deposit) include the following:
• A December 2020, SRK JORC report for the A deposit showed a total indicated resource of 759,000
oz and a total inferred resource of 807,000 oz of gold, open pit and underground, plus two higher -
grade shoots with three-gram-per-tonne-gold material, using a 0.3 g/t COG (cut-off grade).
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Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
• The May 2021, SRK JORC report for the B deposit showed a total indicated r esource of 188,900 oz
and a total inferred resource of 85,600 oz of gold, open pit and underground, with an average grade
of 1.5 g/t Au material, using a 0.3 g/t COG. The SRK reports were prepared for the vendor of the
properties, which has consented to t his reference to these reports in the Company’s July 12, 2021
press release.
• Current oxide mining is being carried out on the A deposit to 40 m, which is being processed using
conventional heap leach technology.
• Current annual production is 12,000 oz Au, which may be increased to 30,000 oz Au per annum with
mining of additional oxide deposits in the A license.
• The Company has commissioned a National Instrument 43-101 PEA for the A and B properties.
• Exploration potential in the A license is very high, with p otential for adding of additional ounces at
both target areas in strong alteration zones along major controlling structures previously delineated
and ready to be soil sampled and drilled.
Highlights of the Central Kazakhstan property (the C gold deposit) include the following:
• The C deposit has an exploration target of 480,000 to 500,000 ounces of gold with a grade of
between 1.4 g/t and 1.45 g/t at 0.3 g/t COG. This is not included in the above -stated indicated and
inferred categories. Altair in tends to conduct a drilling program to bring this target to NI 43 -101-
compliant status.
• C is an operating oxide heap leach Au mine, producing 9,000 oz Au per annum.
• The mineralization being processed at C includes significant free gold with excellent metal lurgical
properties, currently yielding 70 -per-cent Au recovery in current test operations in the oxide zone
using a gravity circuit, in addition to the heap leach processing.
• Exploration potential at C is believed to be excellent, as the existing initial test mining operations are
only a small part of a much larger porphyry stockwork system, with Au and Cu geochemical
anomalies defined in 2020, east of both existing open cut pits covering areas of 1,000 m by 800 m
each, ready to be drill tested to increase the oxide Au resource.
• A large target exists for a 3 -D IP (induced polarization) survey to locate the deeper Cu -Au (copper-
gold) porphyry stockwork mineralization at depth, for a potential future open cut sulphide operation.
Both the Eastern Kazakhstan a nd Central Kazakhstan properties are currently recovering gold using heap
leach technology, with gravity recovery also occurring on the Central property. The acquisition includes
the infrastructure and capital facilities of the two gold operations that ar e both currently delivering gold
dore bars from their respective oxide zones through heap leaching, gravity concentration and further
processing.
Altair, in conjunction with Core Mining Group, its technical consultant, anticipates achieving the following
key metrics:
• average production of 81,800 oz per year;
• years 1 and 2: 36,400 oz per year;
• year 3: 80,700 oz per year;
• years 4 to 8: 119,700 oz per year;
• year 8 onward: 65,600 oz; and
• AISC (all-in sustaining cost): $1,140 per oz.
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Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
George S. Young, Altair chai rman and chief executive officer, stated: "We are extremely excited to create
additional value for our shareholders by not only the Marbera tenements in Burkina Faso as recently
announced, but also at the same time making significant advancements on the producing projects in
Kazakhstan. Engaging high quality engineering consultants with recent experience in constructing gold
projects in the regions where we are engaged represents a big advancement, and we look forward to
forging ahead in the PEA and feasibility process in Kazakhstan, where the mines are already in production,
and with advanced exploration in Burkina Faso, where the nearly 400 kilometres of drilling and over 294,000
samples have already been completed in a very prolific gold-producing region.”
Information of a technical and scientific nature that forms the basis of the disclosure in this press release
has been prepared and approved by Dr. Stewart A. Jackson, a qualified person, under National Instrument
43-101, and independent consultant of Altair Resources.
About Altair Resources Inc.
Altair is a gold and precious metal exploration company. Altair recently announced the signing of a binding
agreement for the purchase of the Marbera 2 permits in Burkina Faso, host ing historic resources of over
1.3 million ounces of gold as shown by over 387,000 metres of drilling and 294,000 samples.
The Company also recently announced an agreement for the acquisition of two gold-producing properties
in Kazakhstan containing a tota l historic indicated resource of 947,900 ounces of gold, open pit and
underground, and a total historic inferred resource of 892,600 oz of gold, open pit and underground, with
current aggregate gold production at the two properties of approximately 21,000 ounces of gold per year
from the oxide zones of each property. The in-situ acquisition cost of these gold -producing assets is $58
per ounce.
Altair also has rights to acquire a 65-per-cent interest in the Simon gold and silver property located in the
state of Nevada. A past producer, the Simon property presents an excellent opportunity for adding value,
employing low-cost exploration activities to identify prime drilling sites in six anomalous zones previously
identified with gold, silver and copper mineralization. The Simon property lies within the region that hosts
the prolific Tonopah district, the Round Mountain gold mine and numerous other successful mining
projects.
For further information:
George S. Young
Chairman, CEO, Altair Resources Inc. +1 (806) 886- 3317
[email protected], www.altairresources.com
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.
Forward-Looking Statements:
This press releas e contains forward -looking statements with respect to the Company. By their nature,
forward-looking statements are subject to a variety of factors that could cause actual results to differ
materially from the results suggested by the forward-looking statements. In addition, the forward-looking
statements require management to make assumptions and are subject to inherent risks and uncertainties.
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Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
There is significant risk that the forward -looking statements will not prove to be accurate, that the
management’s assumptions may not be correct and that actual results may differ materially from such
forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking
statements.
Generally forward-looking statements can be ident ified by the use of terminology such as “anticipate”,
“will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar
expressions. Forward-looking statements contained in this press release may include, but are not lim ited
to, the completion of the private placement and the Company receiving regulatory approval to the partial
revocation order. These forward -looking statements are based on a number of assumptions which may
prove to be incorrect including, but not limited to, the Company receiving regulatory approval to the
private placement and the partial revocation order application.
The forward-looking statements contained in this press release are made as of the date hereof or the dates
specifically referenced in this press release, where applicable. Except as required by law, the Company does
not undertake any obligation to update publicly or to revise any forward -looking statements that are
contained or incorporated in this press release. All forward -looking statements contained in this press
release are expressly qualified by this cautionary statement.