Atlanta Gold Inc. to Complete $5.6 Million Private Placement



    TORONTO, Feb. 5 /CNW/ - Atlanta Gold Inc. (TSX: ATG) - announces that it
intends to complete a non-brokered private placement for gross proceeds of up
to C$5.6 million, consisting of up to 9,180,330 common shares at a price of
C$0.61 per share, of which C$4,507,058 has today been completed. The Company
will use the proceeds from the offering to implement the Company's new
strategy for development of its Atlanta gold project previously announced on
January 18, 2008 and for working capital purposes.
    Insiders of the Company have subscribed for 31% (C$1,740,700) of the
placement. In accordance with the requirements of the Toronto Stock Exchange,
completion of C$600,000 (983,607 shares) of the total amount subscribed for by
insiders will, be subject to disinterested shareholder approval at the Annual
and Special Meeting of Shareholders to be held on April 24, 2008.

    
                         Forward-Looking Information
    

    This news release contains forward-looking information and
forward-looking statements within the meaning of applicable securities laws.
All statements, other than statements of historical fact, are forward-looking
statements. We use words such as "may", "will", "should", "anticipate",
"plan", "expect", "believe", "estimate" and similar terminology to identify
forward looking information and statements. Such are based upon assumptions,
estimates, opinions and analysis made by management in light of its
experience, current conditions and its expectations of future developments as
well as other factors which it believes to be reasonable and relevant. Forward
looking information and statements involves known and unknown risks,
uncertainties and other factors that may cause our actual results to differ
materially from those expressed or implied in the forward looking information
and statements and accordingly, readers should not place undue reliance on
those statements. Risks and uncertainties that may cause actual results to
vary include but are not limited to the speculative nature of mineral
exploration, development and mining (including with respect to size, grade and
recoverability of mineral reserves and resources); operational and technical
difficulties; risks and hazards associated with the business of mineral
exploration, development and mining, including environmental hazards;
government action or delays in the receipt of governmental approvals, permits
and licenses; changes in resource prices and fluctuations in currency exchange
rates; the Company's limited financial resources and the availability of
financing alternatives; contests to the title of Company property and changes
in general economic conditions or conditions in the financial markets; as well
as other risks and uncertainties which are more fully described in the
Company's annual Form 20-F, annual and quarterly Management's Discussion and
Analysis and in other Company filings with securities and regulatory
authorities which are available at www.sedar.com.
    Readers are cautioned that the foregoing lists of risks, uncertainties
and other factors are not exhaustive. The forward-looking statements contained
in this news release are made as of the date hereof and the Company undertakes
no obligation to update publicly or revise any forward-looking information or
statements contained herein or in any other documents filed with Canadian and
U.S. securities regulatory authorities, whether as a result of new
information, future events or otherwise, except in accordance with applicable
securities laws.





For further information:

For further information: Bill Baird, President and CEO, Telephone: (416)
777-0013, Fax: (416) 777-0014, E-mail: info@atgoldinc.com

Organization Profile

Atlanta Gold Inc.

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