CALGARY, Feb. 14, 2013 /CNW/ - Altitude Resources Ltd. (TSX-V: ALI) is pleased to announce today that it has completed a qualifying
transaction and the reverse take-over of Triumph Ventures III. As a
result of the transaction, Triumph Ventures III has changed its name to
Altitude Resources Inc. As of February 15, 2013, the shares of the
Company will commence trading on the TSX Venture Exchange under the
Following the transaction, there are 21,794,797 shares of the Company
outstanding. The board of directors of the Company consists of Gene
Wusaty, Andrew Wusaty, Doug Porter, Pierre Gagnon and Wes Roberts. For
additional information regarding the transaction, please see the Filing
Statement that is available under the profile of the Company on SEDAR
Altitude is an Alberta company incorporated on Aug. 19, 2010. The
company has its head office located in Calgary. Altitude holds six coal
licences in the Hinton area of west-central Alberta (the Palisades coal
property). According to the resource report for the Palisades coal
property dated Nov. 28, 2011, by Robert F. Engler, P.Geol, and Robert
J. Morris, MSc, P.Geol, at Moose Mountain Technical Services, the
Palisades coal property has the potential to host significant coal
resources, and is a property of merit and worthy of further
The following information regarding the Palisades coal property was
extracted from the technical report. Historical drilling has confirmed
that the coal seams on the Palisades coal property demonstrate moderate
lateral stratigraphic and coal-quality continuity, and that the raw in
situ coal is classified as being low-volatile bituminous coking coal.
On the basis of the current interpretation, the Palisades coal property
is classified as a complex, potentially surface minable deposit.
Potential exists for structurally thickened coal seams, which could
present attractive mining situations.
Three additional greenfield coal properties are also included in the
qualifying transaction. The properties are the Palisades extension
(which is adjacent to the Palisades coal project), Moberly Creek and
Berland. The combined properties cover over 17,100 hectares, and they
are all located in close proximity to existing infrastructure such as
paved roads and rail lines.
Gene Wusaty, Altitude's Chairman, a qualified person as defined by NI
43-101, supervised the preparation of the technical information in this
About Altitude Resources
Altitude Resources is a new Canadian coking coal exploration and
development company focused on developing its portfolio of coking coal
properties in west-central Alberta, Canada. Altitudes most advanced
property, the Palisades Coal Project, is located approximately 12
kilometres from CN rail which has capacity to provide transport of coal
to deep-water ports on the west coast of Canada to service the growing
demand from world markets.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE: Altitude Resources Inc.
For further information:
Information contacts, Altitude Resources
Investors: Steven Feldman +1 604-358-2604