Atomic signs letter of intent to acquire 1585 additional claims (32,050 acres) on Dolores Anticline, Colorado



    
    TSXV: ATL.P                                                      FRG: MJ7
    

    VANCOUVER, June 14 /CNW Telbec/ - Atomic Minerals Ltd. (TSX-V: ATL)
("Atomic" or the "Company") is pleased to announce that it has signed a letter
of intent (the "LOI") with Mayan Minerals Ltd. ("Mayan") and Kee Nez
Resources, LLC ("Kee Nez") to acquire a total of 1585 additional mining claims
(the "Claims") located adjacent to the those mining claims Atomic recently
acquired on the Dolores Anticline in the State of Colorado pursuant to its
Qualifying Transaction (see Atomic's news releases dated June 4 and June 5,
2007). Kee Nez and Mayan are also the recorded and beneficial owners of the
Dolores Anticline claims that were the subject of Atomic's Qualifying
Transaction. The Claims, together with those claims Atomic acquired pursuant
to its Qualifying Transaction, would bring the total number of mining claims
leased by Atomic on Dolores Anticline to 2517 claims and a total over
50,000 square acres of land.
    The Claims are divided into 3 groupings: Glade Lake (1075 claims), Upper
Willow (265 claims) and TD (245 claims, which Atomic already had an existing
letter of intent to acquire; see Atomic's news release dated May 24, 2007).
The LOI provides that Kee Nez (as the registered holder of the Claims) and
Mayan (as the beneficial owner of the Claims) will negotiate definitive
agreements to lease the Claims to a wholly-owned subsidiary of Atomic over a
period of three years, subject to approval of the TSX Venture Exchange (the
"Exchange"). Subject to Exchange approval, the proposed terms of these new
leases call for the following payments of cash and shares over a three-year
period:

    
    1) In addition to the US$62,780 which Atomic already reimbursed Mayan for
       on signing the original letter of intent on the TD claims in February,
       Atomic will reimburse Mayan for its US$299,290 in staking costs and
       expenses for the Upper Willow and Glade Lake claims. Mayan has
       executed promissory notes for each of these amounts, which will
       convert to loans repayable to Atomic should definitive lease
       agreements not be successfully completed;

    2) Atomic will make the following cash payments for each of the groups of
       Claims:

        a) On execution of each of the definitive leases, US$50,000, for a
           total of US$150,000 for all the Claims,

        b) At the end of the first year of each lease, US$50,000, for a total
           of US$150,000 for all the Claims,

        c) At the end of the second year of each lease, US$100,000, for a
           total of US$300,000 for all the Claims, and

        d) At the end of the third year of each lease, US$100,000, for a
           total of US$300,000 for all the Claims; and

    3) Atomic will issue the following common shares in its capital stock
       to Mayan:

        a) For the TD claims, 490,000 common shares as follows:

             i. 122,500 shares on closing,

            ii. 122,500 shares on the first anniversary of the closing
                date, and

           iii. 245,000 shares on the second anniversary of the closing date,

        b) For the Upper Willow claims, 550,000 common shares as follows:

             i. 137,500 shares on closing,

            ii. 137,500 shares on the first anniversary of the closing
                date, and

           iii. 275,000 shares on the second anniversary of the closing date,

        c) For the Glade Lake claims, 2,150,000 common shares as follows:

             i. 537,500 shares on closing,

            ii. 537,500 shares on the first anniversary of the closing
                date, and

           iii. 1,075,000 shares on the second anniversary of the closing
                date.
    

    There are no minimum exploration expenditures stipulated for the Claims.
The Claims are subject to royalties similar to those of the Dolores Anticline
and Grand County Claims (from which the above-noted lease payments are
deductible), ranging from 2% to 15% of the spot market price of uranium, and
3% of net returns in the case of all other ores, minerals, or other products
removed from the leased property (see Atomic's news release dated January 22,
2007).
    A finder's fee of 200,000 common shares will be paid in connection with
this transaction, subject to approval by the Exchange.
    The Dolores Anticline is located only 30 miles from Lisbon Valley and is
also within the Uravan Mineral Belt. Economically important amounts of uranium
have been produced from the Salt Wash Member of the Morrison Formation of Late
Jurassic Age, and the Moss Back Member of the Late Triassic Chinle Formation
in and near the Uravan Mineral Belt in San Miguel, Montrose and Dolores
Counties, Colorado (United States Geological Survey 1968, Daniel R. Shawe,
Denver, Colorado). Additionally, the Dolores Anticline was drilled by both
Hunt Oil and Newmont in the 1970s. Drill logs from this wide spaced drilling
indicate that the favorable Moss Back Member of the Chinle Formation is
present in the area. The Dolores Anticline is one of the last salt anticlines
in the Paradox Basin which has not been extensively drilled to explore for
mineralization in the Moss Back Member of the Chinle Formation. Field
investigations have confirmed the presence of favourable environments within
the Moss Back Member of the Chinle Formation along the Dolores River Canyon
which transects the Dolores Anticline.
    The content of this news release was reviewed by Cady Johnson, Ph.D., a
licensed professional geologist and a "Qualified Person" under the definition
established by National Instrument 43-101.

    The TSX Venture Exchange Inc. has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this press release.




For further information:

For further information: on Atomic, please contact: Warren McIntyre, the
Company's Chief Executive Officer, (604) 639-2866; Renmark Financial
Communications Inc.: Christine Stewart: cstewart@renmarkfinancial.com, Barry
Mire: bmire@renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

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