Altair Resources Inc Provides Corporate Update
Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
ALTAIR RESOURCES INC PROVIDES CORPORATE UPDATE
Vancouver, British Columbia – June 22, 2022: ALTAIR RESOURCES INC. (“ALTAIR” or the
Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W2004; WKN: WKN A2ALMP)
Mr. George S. Young, Chairman & CEO is pleased to provide the following announcement in regard to the
Company and its ongoing acquisition and development activities:
Kazakhstan Opportunities
The Company continues to pursue the acquisition and spin off of the Kazakhstan projects as described in
the Company’s January 24, 2022 press release. With the passage of time occasioned by a number of legal
due diligence issues and events in the region and around the world affecting the financial markets, the Sellers
have sent correspondence to Altair relating to the performance of the parties under the Preliminary Purchase
Agreement. Sellers have taken the position that Altair has not moved forward with the transaction under the
time frames required under the agreement and have sent a notice purporting to terminate the agreement but
remain willing to continue to work with Altair to complete the transaction on a non-exclusive basis. Altair
is disputing the Sellers’ position and believes that the Sellers cannot unilaterally terminate the agreement,
particularly given the difficulties over the past year in financing in the region and in the world generally and
given the due diligence issues. Altair is in discussions with the Sellers regarding the matter and has discussed
new financing alternatives with the Sellers, including potential financings through institutional and other
alternative financing entities being sourced by Mr. Nicholas Jeffrey, as further described in the Corporate
Governance section below.
Burkina Faso
In furtherance of its press release dated April 7, 2022 in connection with the Company’s planned acquisition
of the Marbera project in Bur kina Faso, an advanced exploration project with over 387,000 meters of
previous drilling, the Company is pleased to further announce that it is retaining counsel in Burkina Faso to
review and advise on the draft Sale and Purchase Agreement now being finalized between the parties. The
agreement will be subject to regulatory approval in Canada and license transfer approvals in Burkina Faso.
The Company is also pursuing other acquisition opportunities in Burkina Faso with an expectation that the
business environment will improve in the short term.
Simon Property, Nevada
The Company and Millennium Silver Corp , through its wholly owned Nevada subsidiary , International
Millennium Mining Inc (“Millennium”) have negotiated new letter agreement terms with respect to the
Simon Property located in the Walker Lane Trend, Nevada. While the total amount of Company shares to
be issued to Millennium and total work expenditure commitment have not changed, the details with respect
to annual share payments and work commitments have been adjusted over the six-year period.
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Corporate Governance
Mr. James Walker has resigned as a director of the Company to pursue other opportunities. The Company
would like to thank Mr. Walker for his services and wish him well in his future endeavors. The Board is
considering a number of qualified replacements to appoint as a new Director.
In addition, the Company has appointed Mr. Nicholas F. Jeffery to its Advisory Board. Nicholas is a
founding and managing partner of Impresario Partners, headquartered in Vancouver BC, but currently
residing in Europe. Nicholas has broad and significant experience in investment banking, internet of things
(IOT), Web3 technology and corporate growth with a focus on proposition development, big data and
marketing. He was previously CEO of a TSX Venture top fifty performing company, and Senior Advisor
for Investment Planning and Strategy for the European Bank of Reconstruction and Development (EBRD).
Nicholas has been awarded a certificate of merit for his work in the area of Environmental Communications
having been the lead on Eastman Kodak environmental strategy and the Duty of Care legislation for the
British Government.
The Company is evaluating options for financing its acquisitions through institutional and other alternative
financing entities being sourced by Mr. Jeffery covering Africa and Central Asia.
George S. Young said “We are pleased to add diverse talents and experience to our Advisory Board, and
to advance with the acquisition of the Marbera project and other acquisition opportunities. We are excited
now to press forward to the closing of the acquisition and to commencing work on a PEA while we also look
to progress with our other transactions . We beli eve we are well positioned to deliver exemplary value to
our shareholders.”
Nicholas Jeffery added “There are a myriad of new commercial, financial and geopolitical dimensions
affecting the mining industry Globally and especially in the Central Eastern European and African markets.
Having someone from outside the industry as a partner to help navigate th ese threats and opportunities is
potentially very valuable.”
About Altair Resources Inc.
Altair Resources’ (TSX.V: AVX) primary focus is developing the Marbera project, Burkina Faso’s newest
gold mine development opportunity.
Burkina Faso is 2 nd in go ld production in West Africa with four major mining companies operating
successfully and 15 gold mines that have reached production.
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.
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Forward-Looking Statements:
This press release contains forward -looking statements w ith 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.
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 tha t 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 identified 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 limited 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.