Atna Enters Into New Agreement in the Sand Creek Uranium Joint Venture; Drilling to Resume

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[{"type":"text","content":"\n\n\n\nGOLDEN, Colo., June 2 /CNW/ -- Atna Resources Ltd. ("Atna") - (TSX: ATN)\nhas entered into a Supplemental Agreement to the Sand Creek Uranium Project\nExploration, Development and Mine Operating Agreement dated August 25, 2006,\nwith High Plains Uranium Inc. ("High Plains"), a subsidiary of Uranium One\nInc. (TSX: UUU). Under this Supplemental Agreement, High Plains shall assume\nthe role of project manager and may spend up to US$1.6 million before December\n31, 2012 to increase its interest in the project from 30 percent to 51\npercent. Atna's equity position may decrease from 70 percent to 49 percent,\nshould High Plains meet this commitment.\n\n\nAtna will be carried at no expense while High Plains spends the funds to\nincrease its interest. High Plains may either provide notice of completion of\nits expenditures or terminate their earn-in right with prior notice. If High\nPlains terminates its accelerated earn-in right, they will be credited for\nexpenditures made and their equity in the project will increase accordingly.\nIf they do not earn up to a 50 percent position, then Atna will assume the\nrole of operator in the project. At termination or completion of the\nSupplemental Agreement, the existing Exploration, Development and Mine\nOperating Agreement will remain effective and the partners' operating\ninterests will be set in proportion to the amount of their respective\nexpenditures.\n\n\nHigh Plains has submitted a work plan and budget for 2009 detailing\n$320,000 in expenditures. These expenditures cover the cost of property\nmaintenance for the remainder of 2009, permitting activities and a 20,000 foot\ndrilling program with associated analytical testwork.\n\n\nThe Sand Creek uranium joint venture area of interest, located south east\nof Douglas, Wyoming, was identified by a subsidiary of Atna and its former\njoint venture partners during a uranium exploration effort in the early 1980s.\nThe company drilled 88 holes for approximately 69,000 feet in 1981 and 1982,\ndiscovering several zones of uranium mineralization. In late 2006, the current\npartners' drill program began in the western portion of the Sand Creek JV\narea. Fourteen holes totaling 10,395 feet clearly demonstrated the presence of\n"roll front" style uranium mineralization. A follow up drill program\nconsisting of 1...

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