Altair Resources Provides Update ON Option to Acquire Three Advanced GOLD and Silver Exploration Projects IN the Tonopah District, Nevada
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Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
ALTAIR RESOURCES PROVIDES UPDATE ON OPTION TO ACQUIRE THREE
ADVANCED GOLD AND SILVER EXPLORATION PROJECTS IN THE TONOPAH
DISTRICT, NEVADA
Vancouver, British Columbia –February 14th, 2024. ALTAIR RESOURCES INC. (“ALTAIR” or the
Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W2004; WKN: WKN A2ALMP), Further
to its press release dated November 22, 2023, George S. Young, Chairman and CEO of Altair Resources Inc.
is pleased to provide this update on the Option and Acquisition Agreement (the “Agreement”) with arm’s length
parties, Electric Metals (USA) Ltd. (“EMPL ParentCo”), its wholly owned subsidiar ies Electric Metals (USA)
PTY Limited (“EMPL”) (EMPL ParentCo and EMPL collectively referred to as the “Vendor”), North American
Silver Corporation (“NAS”) and Centennial Mining Inc. (“Centennial”) in connection with the option to acquire
up to 100% of the issued and outstanding shares of NAS by the Company. NAS owns Centennial which holds
mineral rights and rights to acquire mineral rights in the State of Nevada in the United States of America (the
“Properties”).
ALTAIR has received conditional approval from the TSX Venture Exchange (the “Exchange”) for the
transactions contemplated by the Agreement and is continuing through the process of completing the requirements
for final approval, including the preparation of a Technical Report on Form NI 43-101 and is working toward the
completion of its financing plan for the acquisition. Altair has also made the initial filing for the debt conversion
contemplated in the Agreement and is following up on the responses from t he Exchange’s initial review, and is
in discussions with Vendor as to the timing and terms of the initial payment requirements under the Agreement.
ALTAIR has retained Highlands Geoscience, including Mr. David Smith and Mr. Clyde Smith for the preparation
of the Technical Report. Dr. Ian Pringle has also been retained as the Company’s Qualified Person to review
and consult on technical matters.
The Agreement, which is subject to the approval of the TSX Venture Exchange (the “Exchange”) and is
considered an arms’ length transaction in accordance with applicable securities legislation , provides Altair with
an option to acquire the right to earn into the 9,429-acre Corcoran Canyon gold-silver project (“Corcoran”) along
with the Belmont gold-silver project (“Belmont”) and the Belmont North gold -silver project (“Belmont North”)
(collectively “Corcoran” or the “Corcoran Project”) in the Tonopah District in Nye County, Nevada from EMPL.
Corcoran hosts an exploration project covering a hill known as Silver Reef, an outcropping area of silver-gold
mineralized alteration on the Toquima Calder margin , which also hosts another four or more mineralized
prospects within the Corcoran Project which have had negligible historical exploration work completed.
Belmont and Belmont South cover the areas of prolific historic silver districts in Nevada which were mined
primarily from surface workings. Both Belmont and Belmont South remain untested by drilling along trend and
at depth.
The Company believes there is potential in the area with numerous untested geophysical anomalies and unknown
down-dip extensions to the old mines.
George S. Young said “We are delighted with the progress made on our acquisition efforts and with receiving
conditional approval from the Exchange. We are pleased to pursue the opportunity to acquire the Corcoran
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Canyon Silver -Gold project due to its proximity to other major producing deposits. This option represents
tremendous value to the Altair shareholder’s and ties in nicely with our Simon Silver project . Combined, these
two silver-gold projects bring tremendous potential to add notable value for our shareholders and I look forward
to progressing forward with the due diligence and delineation of these attractive projects.”
About Altair Resources Inc.
Altair Resources’ (TSX.V: AVX) primary focus is targeting the explorations acquisition and development of gold
and silver projects in Nevada, including the Simon Project .
For further information:
George S. Young
Chairman, CEO, Altair Resources Inc.
[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 release contains forward-looking information and statements with respect to the Company (“forward-
looking statements”), including with respect to the option to acquire the Corcoran Project and the receipt of
applicable regulatory approvals. 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 that actual results may differ mate rially from such
forward-looking statements. Accordingly, readers should not place undue reliance on the forward -looking
statements.
Generally forward-looking statements can be identified using 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 comple tion of the private
placement and the Company receiving regulatory approval to the partial revocation order. These forward-looking
statements are based on several 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 p ublicly 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.