TORONTO, Sept. 10, 2013 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) (the "Company") announces that the U.S. District Court for the State of Idaho, in the compliance litigation brought under the United States Federal Water Pollution Control Act ("Clean Water Act") against the Company's wholly-owned subsidiary, Atlanta Gold Corporation ("AGC"), has entered an Order declining to impose any additional penalty against AGC due to AGC's "commendable" efforts in reducing the level of arsenic and iron in compliance with the terms of the applicable NPDES permit. Final judgment will be entered in the amount of US$2 million, which AGC expects to pay over a five year period. As previously announced in the Company's news release of August 27, 2013, AGC and all parties to the litigation, including the U.S. Attorney as intervenor, have approved a proposed final Consent Judgment for signature by the Court providing for payment of the penalty in quarterly installments over a five year period. It is anticipated that the Court will sign and enter the Consent Judgment later this month.
The Court also ordered that after the entry of the final judgment, the case will be administratively terminated, only to be reopened if the Plaintiffs to the litigation seek enforcement and/or sanctions for future violations, if any. AGC continues to maintain compliance with the terms of the NPDES permit through use of the zero valent iron passive filtration system, and is confident that it will remain in compliance in the future.
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 kilometres) 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.
This news release contains forward-looking information and forward-looking statements (collectively "forward-looking statements") within the meaning of applicable securities laws with respect to the Court signing and entering the Consent Judgment in respect of payment by AGC of the penalty imposed under the Clean Water Act and AGC's continued compliance with the terms of the NPDES Permit. Such are based upon assumptions, opinions and analysis that management believe to be reasonable and relevant, including that the Court will approve the Consent Judgment to give effect to the payment plan and that the filtration system will continue to operate effectively. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking 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 discretion of the Court to accept or reject the Consent Judgment on the terms proposed or to impose additional or amended terms, operational or technical difficulties arising with respect to the filtration system and the Company's and AGC's limited financial resources; as well as other risks and uncertainties which are more fully described in the Company's 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.
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SOURCE: Atlanta Gold Inc.
For further information:
Atlanta Gold Inc.:
Wm. Ernest Simmons
President and CEO
Atlanta Gold Inc.
Vice President and CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
CHF Investor Relations
Director of Operations
Telephone: (416) 868-1079 ext. 225
Fax: (416) 868-6198