Sep 28, 2015
Altitude Resources Inc. acquires additional coal lease applications at Altitude North Project near Grande Cache, west central Alberta
CALGARY, ALBERTA - Altitude Resources Inc. (TSX-V:ALI) is pleased to announce today that it has acquired additional adjacent Alberta Crown coal lease applications adjoining its Altitude North property in west central Alberta. The company recently announced that it has discovered a multiple seam, near-surface mid-volatile coking coal deposit at the Altitude North property.
The additional coal lease applications have an area of 640 hectares and the entire property now encompasses an area of 8,202 hectares and stretches over a length of 23 km (north to south). Significant coal seam intersections were identified and traced south to north along the entire extent of the property. Coal outcrops were sampled for proximal and petrographic analysis which verified historic Alberta government exploration reports which indicated the coal rank to be mid-volatile coking coal.
Altitude North Area Map
Commenting on the new property acquisition, Gene Wusaty, President and CEO said, "We are adding additional properties with favourable coal structure to our Altitude North Project portfolio. We will be planning another field reconnaissance program for Altitude North for additional mapping, sampling the coal outcrops and identifying future drill targets."
About Altitude Resources
Altitude Resources Inc. is a Canadian coking coal company focused on developing its Palisades Coal Project located northwest of Hinton, Alberta, the Elan Project through its participation in the Elan LP, and the Altitude North Project near Grande Cache, Alberta. All the projects are located in close proximity to 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.
Gene Wusaty, Altitude's Chairman, a qualified person as defined by NI 43-101, supervised the preparation of the technical information in this release.
Information contacts, Altitude Resources
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 news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes without limitation, statements regarding the size and quality of the Company's mineral resources, progress in the development of mineral properties, future capital and operating expenses, the future financial or operating performance of the Company, the prospective mineralization of the properties, planned exploration programs and the anticipated production schedule. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on assumptions that have been made by the Company as at the date of such information, including those assumption described in the Company's technical report entitled "Resource Estimate of the Palisades Coal Property" dated November 28, 2011 which is available at www.sedar.com. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the future price of coal, industry market trends and predictions, the estimation of mineral reserves and resources, operating and exploration expenditures, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations including changes in government policies, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage, regulatory matters, and other risks described in the public filings of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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