ATAC Trenches Copper and Molybdenum Mineralization at Connaught Property

ATAC Resources Ltd. announced exploration results from its copper and molybdenum mineralization discovery on the Connaught property in the Yukon, demonstrating the copper-molybdenum-gold porphyry potential of the property. This copper and molybdenum mineralized system shows the presence of porphyry, skarn, and hydrothermal mineralization in Yukon and Alaska.

"We are doubly pleased with the results of our exploration at Connaught. To date, this work has tested only one of four porphyry copper target zones along with a 13 km trend that was discovered through geochemical and geophysical work this summer. As this is an unglaciated environment, surface leaching is expected." Graham Downs, President and CEO of ATAC, said, "the grades we are seeing, in this case, are very exciting."

"With these results, we have finalized a drilling contract to conduct a drill program targeting porphyry during the next exploration season. The next season's work will evaluate all four target areas." The 2021 Connaught exploration program includes 10 trenches, 113 regional exploration rock samples, 2,229 soil samples, airborne LiDAR surveys across the property, 39 kilometers of IP, and 113 kilometers of ground magnetic surveys.

The Connaught property is located in non-glacial terrain where copper depleted leach caps are expected to occur, similar to Western Copper and Gold's Casino project in the central Yukon. The 2020 resource update for the Casino project reported average grades of 300 ppm copper, 0.25 g/t gold, and 1.9 g/t silver for the leach caps.

Grab samples collected from a magnetite silica 1500 m west of the trench area returned 0.12% Cu and 0.54 g/t Au. The silica is located 130 meters upslope of a highly anomalous gold-in-soil response zone and has values up to 0.43 g/t gold. Historical drilling in the area in 1988 reported multiple silica intervals with anomalous gold, including 4.25 g/t Au over 1.68 m in drill hole 88-006 and 7.30 g/t Au over 0.46 m in drill hole 88-008.

In 2003, the former operator completed five diamond drill holes targeting hydrothermal veins. historical drill logs from these holes reported observed copper mineralization, but this material was not assayed at that time. drill core from these historical holes was recovered and re-boxed in 2003 and sent to other agencies for assaying.

The Connaught Project is located within the northeast-trending 150 km-long Sixtymile-Pika fault system that controls Late Cretaceous magmatism, hydrothermal activity, and associated porphyry, siliciclastic and hydrothermal mineralization in Yukon and Alaska.

The style of mineralization, lithology, and alteration observed to date is typical of copper and molybdenum mineralization such as Western Copper and Gold's Casino project in the Yukon and Kenorland Minerals' Tanacross project in Alaska.

ATAC is a Vancouver-based exploration company focused on gold and copper exploration in the Yukon Territory and Nevada. Work on the approximately 1,700 square kilometer Rackla gold property in the Yukon has yielded an Inferred Mineral Resource of 1,685,000 ounces of gold at an average grade of 4.23 g/t (12.4 tonnes contained) at the Osiris project and a Measured and Indicated Mineral Resource of 464,000 ounces of gold at the Tiger deposit. ATAC is well-financed with approximately $6 million in working capital.

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