Potential By-Product Credits for the Atlanta Project in Idaho

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, March 4 /CNW/ - Atlanta Gold Inc. (TSXV: ATG) announces that it has initiated a comprehensive program of sampling to provide a better understanding of the distribution, average content and metallurgical recovery of a suite of 50 potential by-products at its Atlanta Gold Project currently in development near Atlanta, Idaho.

Along with gold mineralization there are a number of elements present throughout the 11,400-foot (3,475-metre) long, 30-120-foot (9-37-metre) wide Atlanta Shear Zone, including silver and tungsten. An estimated 2.6 million ounces of silver were historically mined at Atlanta. As previously announced in a news release of October 28, 2009, a recent review of historic production reports confirmed the presence of tungsten within the Atlanta Shear Zone. From April 1, 1942 to July 31, 1943, the Talache mill which was located on the Atlanta property processed 363,615 pounds of tungsten concentrate which contained 37,835 pounds or 10.41% tungsten trioxide (WO(3)) extracted from 16,895 tons of ore.

In February 2010 an initial batch of 57 random samples from six drill holes was sent to a recognized ISO 9001: 2008-certified external laboratory (Inspectorate America Corporation of Sparks, Nevada, U.S.A.) and analyzed for 50 elements by Inductively Coupled Plasma Multi Spectrum (ICP-MS) and / or four acid digestion (4A). In addition, duplicates, blanks, and standards were analyzed to ensure analytical accuracy and reproducibility. For the 10 most significant elements which were present in all six drill holes, the high, low and average quantities (in parts per million, or ppm) detected using the ICP-MS/4A methods for the sample analyses are provided in the table below:

    
    ----------------------------------------------------------------------
    Element                 Symbol    Units    High      Low      Average
    ----------------------------------------------------------------------
    Cerium                    Ce       ppm     160.0     32.0      114.0
    ----------------------------------------------------------------------
    Germanium                 Ge       ppm       6.4      1.9        4.3
    ----------------------------------------------------------------------
    Niobium                   Nb       ppm      18.0      6.7       11.6
    ----------------------------------------------------------------------
    Rubidium                  Rb       ppm     220.0     74.0      135.0
    ----------------------------------------------------------------------
    Scandium                  Sc       ppm       5.6      2.0        4.0
    ----------------------------------------------------------------------
    Selenium                  Se       ppm       2.3      0.1        0.7
    ----------------------------------------------------------------------
    Tantalum                  Ta       ppm       1.8      0.3        0.7
    ----------------------------------------------------------------------
    Titanium                  Ti       ppm       0.2      0.1        0.2
    ----------------------------------------------------------------------
    Vanadium                   V       ppm      56.0     35.0       45.9
    ----------------------------------------------------------------------
    Wolframite (Tungsten)      W       ppm     110.0      2.0      18.68
    ----------------------------------------------------------------------
    

The geochemical and assay techniques used by Inspectorate are not meant as a final determination of recoverable by-products and more sampling will be required to assess the potential of the above elements as by-products. Samples from future drilling will be routinely assayed for these elements, and investigations will be undertaken to establish correlations between concentrations of these elements and gold. Future sampling to determine recoverability of these elements will also be conducted using metallurgical methods. If metallurgical testing shows that certain elements can be efficiently recovered, the proceeds from the relevant by-products may make a significant contribution to the net smelter return value of the Atlanta gold resource and reduce the future cash costs of mining and processing.

Qualified Person

Information of a technical nature in this news release regarding Atlanta has been reviewed by William L. (Bill) Josey who is a designated "Qualified Person" under National Instrument 43-101. Mr. Josey is a registered professional geologist in the State of Arizona.

About the Company

Atlanta Gold Inc. (TSXV: ATG) holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 2,197 acres located 65 miles east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects.

The Company is focused on advancing its core asset, Atlanta, towards mine development and production and on acquiring, exploring and developing other attractive gold projects.

Forward-Looking Information

This news release contains forward-looking information and forward-looking statements (collectively "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", "intend", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward looking statements, including with respect to the completion of additional sampling and metallurgical testing of byproducts at the Atlanta Gold Project, the development of a gold mine at the Project and the potential of such byproducts to reduce the net costs of mining and processing the Project's gold resource. 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. These assumptions include those concerning, the accuracy of the Company's testing results to date and positive outcomes of future sampling and metallurgical testing and of the geological, metallurgical and price assumptions on which the estimates are based, the level and volatility of the gold and byproduct prices, the estimated time required for development of the Atlanta Project and related thereto, the time to obtain all required permits and regulatory approvals, the continued availability of financing, the ability to achieve expected timelines and cost estimates and no significant decline in existing general business and economic conditions. Forward looking statements involve 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 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 the interpretation of the geology, continuity, size and grade of mineral reserves and resources and the recoverability thereof and the preliminary nature of the byproduct testing completed to date); operational and technical difficulties which could escalate operating and/or capital costs; 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 information form on 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. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward looking statements and accordingly, readers should not place undue reliance on those statements.

Readers are cautioned that the foregoing lists of risks, uncertainties, assumptions 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 statements contained herein or in any other documents filed with securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

NEITHER 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 RELEASE.

%SEDAR: 00004944E

SOURCE Atlanta Gold Inc.

For further information: For further information: Atlanta Gold Inc.: Bill Baird, President and CEO, Telephone: (416) 777-0013, Fax: (416) 777-0014, E-mail: info@atgoldinc.com; CHF Investor Relations: Christopher Haldane, Account Manager, Telephone: (416) 868-1079, extension 237, Fax: (416) 868-6198, E-mail: chris@chfir.com

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Atlanta Gold Inc.

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