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Press release from Marketwire

ATAC Resources Ltd. Drills 14.86 m of 10.54 g/t Gold at the New Sunrise Zone Discovery in the Osiris Area of the Rackla Gold Project-Yukon

Wednesday, October 17, 2012

ATAC Resources Ltd. Drills 14.86 m of 10.54 g/t Gold at the New Sunrise Zone Discovery in the Osiris Area of the Rackla Gold Project-Yukon07:00 EDT Wednesday, October 17, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - ATAC Resources Ltd. (TSX VENTURE:ATC) is pleased to report results from 22 diamond drill holes completed at the Isis, Isis East and Osiris Zones as well as the newly discovered Sunrise Zone which is located 300 m to the east of the Osiris Zone. All zones are within the Nadaleen Trend at the eastern end of ATAC's 100% owned 1,600 sq/km Rackla Gold Project in central Yukon. Drill results highlights: Sunrise Zone discovery hole:- 14.86 m grading 10.54 g/t gold in hole OS-12-173 Isis East Zone:- 33.53 m grading 3.68 g/t gold in hole OS-12-125"The Sunrise Zone is the fifth significant gold discovery made to date within the 3 by 4 km Osiris area footprint and once again demonstrates the strong exploration potential in this area," states Graham Downs, CEO of ATAC. "The Sunrise and Isis East Zones remain open along strike and down the dip and will be a major focus for drilling in 2013." Sunrise ZoneThe Sunrise Zone is a new area located 300 m east of the main Osiris anticline zone and upslope of a strong gold-in-soil geochemical anomaly that had not been previously drill-tested. Mineralization at the Sunrise Zone occurs as two apparently sub-parallel zones that dip moderately south-southeast. The lower and northernmost zone was intersected in holes OS-12-171 and OS-12-173 and consists of stratabound mineralization. The best mineralized interval from the three holes was intersected at the top of hole OS-12-173 where intensely decalcified limestone is adjacent to a steeply dipping fault that separates the Osiris carbonate sequence from overlying shale. The hole was collared directly within mineralization and returned 14.86 m of 10.54 g/t gold.Sunrise Zone Drill HoleFrom (m)To (m)Interval (m)Au (g/t)OS-12-1713.6614.3310.673.19and30.5036.005.5010.17OS-12-1730.9915.8514.8610.54and72.2485.9513.714.47•The reported intersections are drilled thicknesses and are believed to represent approximately 70 to 100% true widths. Bulldozer trail construction down slope of drill hole OS-12-173 and a short distance along the strike of the structure to the east exposed alteration similar to that intersected at the top of the hole. The altered bedrock was further exposed by excavator trenching and it is open to extension at both ends of the trench and at depth. Systematic channel sampling along the length of the trench and across the vertical face of the back wall at 2 m intervals returned a weighted average of 24.60 g/t gold. See www.atacresources.com for detailed figures and photographs that illustrate sampling of the Sunrise Zone. Isis East ZoneThe Isis East Zone is located about 1.5 km southwest of the Conrad Zone within the 3 by 4 km Osiris area. Gold mineralization here is stratabound and is localized in a southerly plunging anticline, at or near the contact of dolostone with underlying silty limestone. The axial crest of the anticline contains the widest and best mineralized intervals. Final results of the relatively shallow first and second tier drilling on the Isis East Zone are tabulated below. Isis East Zone Drill HoleFrom (m)To (m)Interval (m)Au (g/t)OS-12-12592.35125.8833.533.68including109.12125.8816.766.53OS-12-136144.48152.107.625.27•The reported intersections are drilled thicknesses and are believed to represent approximately 70 to 100% true widths. Osiris ZoneThe Osiris Zone lies between the Conrad and Isis East Zones, and similar to both, gold mineralization is best developed in the hinge or crest area of an anticline fold. Previous drilling has outlined stratabound gold mineralization over a 750 m strike length along the west limb of the fold and in the hinge of the fold. The best drill intersections were in the hinge area where Hole OS-10-001 intersected 65.20 m of 4.65 g/t gold. Limited shallow drilling in 2012 was carried out to test the east limb of the fold for a 175 strike length. Initial results of that work are tabulated below.Osiris Zone Drill HoleFrom (m)To (m)Interval (m)Au (g/t)OS-12-12649.3854.114.734.85OS-12-13118.9035.6616.762.15OS-12-13395.10104.249.141.51OS-12-13979.86107.2927.432.00including95.10107.2912.193.27OS-12-14096.90104.247.342.11OS-12-1431.9012.4910.592.85OS-12-14764.6271.046.425.69and111.86125.5813.721.36OS-12-150204.83220.0715.242.64and244.45252.007.552.81OS-12-158231.04238.667.623.10OS-12-17785.9593.577.624.82•Hole OS-12-124 and 135 were drilled outside the area of mineralization and did not intersect significant gold values.•The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 100% true widths.Step-out drilling was also conducted north of previously encountered gold mineralization in the west limb of the Osiris anticline. Hole OS-12-143 was a 50 m step out from OS-11-090 that intersected 10.59 m of 2.85 g/t gold starting at the collar of the hole. Isis ZoneThe Isis Zone is an area primarily defined by strongly anomalous gold-in-soil response on a steep north facing slope. The source area appears to be an extension of the Isis East carbonate host unit, which is cut by a south-dipping fault that separates the Osiris and Isis East Zones, and which appears to control mineralization at the new Sunrise Zone. The drill holes intersected anomalous gold mineralization but not significant enough to explain the strength and size of the geochemical anomaly. The specific source of the anomaly remains unexplained. A plan view map of the drilled zones can be viewed on ATAC's website at www.atacresources.com.Isis Zone Drill HoleFrom (m)To (m)Interval (m)Au (g/t)OS-12-167118.26124.366.104.54OS-12-172194.20197.513.312.93OS-12-179118.87129.1510.281.56•Hole OS-12-110,118 and 189 did not intersect significant gold values.•The reported intersections are drilled thickness and are believed to represent approximately 80 to 100% true widths.2012 Drilling ProgramThe 2012 exploration program, originally planned for 30,000 m, was expanded to 37,100 m in 116 diamond drill holes and completed on time and on budget. Assay results for the remaining Nadaleen Trend drill holes will be released once they are received and compiled. QA/QCSamples were forwarded to ALS Minerals in Whitehorse, Y.T. or North Vancouver, B.C. where they were fine crushed before a 250 gram split was pulverized to better than 85% passing 75 microns. The pulverizing circuit was cleaned with quartz sand twice between samples. Pulps were then analyzed at ALS Minerals in North Vancouver where gold determinations were carried out. Splits of the pulverized fraction were routinely dissolved in aqua regia and analyzed for 49 elements using inductively coupled plasma (ICP) together with mass spectrometry (MS) or atomic emission spectroscopy (AES). Gold analyses were by the Au-AA26 procedure that involves fire assay preparation using a 50 gram charge with an atomic absorption spectroscopy finish. Mercury analyses are performed using atomic absorption spectroscopy (AAS).Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.The technical information in this news release has been approved by Robert C. Carne, M.Sc., P.Geo., the President of ATAC Resources Ltd. and a qualified person for the purposes of National Instrument 43-101.About ATACATAC is a well-funded, Yukon-based exploration company focused on developing Canada's only Carlin-type gold discoveries at its 100% owned, Rackla Gold Project. For additional information concerning ATAC Resources Ltd., please visit our website at www.atacresources.com.Graham Downs, CEOATAC Resources Ltd.This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors.FOR FURTHER INFORMATION PLEASE CONTACT: Vanessa PickeringATAC Resources Ltd.Manager, Corporate Communications604-687-2522 ext. 260vpickering@nordacres.comwww.atacresources.comNEITHER THE 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 NEWS RELEASE.