Atlanta Gold Completes Shares for Debt Transaction

TORONTO, May 23, 2012 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) announces that following receipt of TSX Venture Exchange approval for the shares for debt transaction previously announced on May 10, 2012, it has issued 4,000,000 shares at a deemed price of $0.05 per share in settlement of outstanding debts relating to finders' fees payable in connection with the Company's $3 million 6% convertible debenture financing that closed in December 2011.  The shares are subject to a four-month hold period expiring September 24, 2012.

About the Company

Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometers) located 90 air kilometers 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.

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.

 

Atlanta Gold Inc.:
Bill Baird
Vice President and CFO
Telephone: [phone]
Fax: [phone]
E-mail: [email protected]

CHF Investor Relations:
Juliet Heading
Senior Account Manager
Telephone: [phone], extension 239
Fax: [phone]
E-mail: [email protected]