VANCOUVER, British Columbia, April 20, 2004 (PRIMEZONE) -- Atna Resources Ltd. (TSE:ATN) is pleased to report audited financial results and summary of activities for the year ended December 31, 2003.
Financial Highlights
-- Working capital, defined as current assets minus current
liabilities, increased to $3,704,283 at December 31, 2003
($3,475,682 - 2002), due to a net amount of $2,099,277 raised
by financing activity (nil - 2002) and decreased exploration
and business development expenditures ($717,756 - 2003 vs.
$1,906,424 - 2002).
-- During the fiscal year 2003, the company incurred a loss of
$1,764,935 ($5,273,769 - 2002).
Summary of 2003 Activities
-- Focused on gold exploration in Nevada.
-- Established a major land position in Jarbidge, a historic
gold/silver mining district in Northern Nevada, where outcropping
bonanza quartz veins show high-grade gold values.
-- Acquired the Clover and Sno "Bonanza" gold/silver prospects
(high-grade gold vein occurrences in the same volcanic package
as Newmont's Ken Snyder Mine, approximately 18 and 11 km to the west,
respectively).
-- Defined ready-to-drill targets for the 2004 field season by
geological, geophysical, and geochemical surveys across
Atna's Nevada properties.
-- Optioned properties to other companies, who will spend money
to earn an interest and make payments in cash or shares to
Atna, including Golden Cloud to Great Basin Gold Ltd., Clover
to Newmont Mining, and Sno to Pacific Ridge Ltd.
-- Completed a brokered private placement of 6,571,000 units at
a price of $0.35 per unit for gross proceeds of $2,299,850 in
December 2003, which will provide funding for general working
capital, new property acquisitions, and exploration programs.
Summary of 2004 Activities To Date
-- Initiated fieldwork on Jarbidge and expect to drill a number
of targets during the summer.
-- Optioned Clover to Grandcru Resources after Newmont returned
the Clover property to Atna. Newmont defined a resistivity
anomaly in an area with high-grade gold samples in float.
-- Advised Expatriate Resources of its intent to participate in
the Wolverine Joint Venture 2004 exploration program.
This summary of financial highlights should be read in conjunction
with the Company's 2003, audited financial statements and
Management's Discussion and Analysis available on www.sedar.com
and Atna's website link below.
http://www.atna.com/s/FinancialStatements.asp