Altair Resources Provides Update ON Simon Property Acquisition and Option to Acquire Three Advanced GOLD and Silver Exploration Projects IN the Tonopah District, Nevada
LEGAL*60555764.1
Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
ALTAIR RESOURCES PROVIDES UPDATE ON SIMON PROPERTY ACQUISITION AND
OPTION TO ACQUIRE THREE ADVANCED GOLD AND SILVER EXPLORATION
PROJECTS IN THE TONOPAH DISTRICT, NEVADA
Vancouver, British Columbia October 1 8, 2024. ALTAIR RESOURCES INC. (“ALTAIR” or the
Company”) (TSX -V: AVX; Germany FRA: 90A; ISIN: CA02137W2004; WKN: WKN A2ALMP) , in
reference to its original press release on this matter dated November 22, 2023 and to updating press releases
dated February 14, 2024 and May 1, 2024, is pleased to provide this further update on acquisition of the Simon
Property near Luning, Nevada and on the Option and Acquisition Agreement three properties in the Tonopah
district in Nevada (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”).
The Company continues to pay toward the acquisition of interests the Simon Property and is in the process of
discussions with the sellers of the rights to restructure certain provisions of the purchase agreement. This activity
is ongoing. Any amendments to the arrangement would be subject to Exchange approval.
Following the receipt of conditional approval from the TSX Venture Exchange (the “Exchange”) for the
transactions contemplated by the Agreement and its efforts to work through the process of completing the
requirements for final Exchange approval, Altair continues to explore options for financing of the acquisition.
Altair has also been in discussions with the selling parties to restructure the Agreement. Altair continues to work
toward putting in place its financing plan for the acquisition. Altair is also working to finalize the debt conversion
contemplated in the Agreement. Altair has also made payments for the extension of the timing of option payments
on properties involved in the acquisition. Altair is also in discussions with Vendor as to the timing and terms of
the initial payment requirements under the Agreement . Any changes to the previously conditionally approved
transaction would be subject to Exchange approval. Any and all final transactions would be subject to Exchange
approval.
ALTAIR continues to evaluate other properties for possible acquisition that could also attract financing.
The Company believes there is potential in the area with numerous untested geophysical anomalies and unknown
down-dip extensions to the old mines.
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.
LEGAL*60555764.1
2
#1305 – 1090 W. Georgia Street
Vancouver, BC V6E 3V7
F 604 683-1585
C 806 886-3317
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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.
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risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate,
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“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
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Company receiving regulatory approval to the private placement and the partial revocation order application.
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