Ateba Resources Inc.
CNSX : ATR

Ateba Resources Inc.

February 10, 2011 12:27 ET

Ateba Expands Property Holdings on the Larder-Cadillac Break and Initiates a 10,000 Metre Drill Program

TORONTO, ONTARIO--(Marketwire - Feb. 10, 2011) - Ateba Resources Inc. ("Ateba" or the "Company") (CNSX:ATR) is pleased to announce that it has staked 110 addition claim units to add to its existing flagship property called the Larder Group. The company now holds 462 units spanning 15 kilometres along strike from the northeastern boundary of Queenston Mining's Upper Beaver Property through McVittie, Katrine and Ossian townships towards the Quebec border with Ontario. The newly staked ground covers a large portion of the Misema Lake-Mist Lake Fault which is the direct extension of the Matachewan-Kirkland Lake Trend.

The Larder Group encompasses the highly prospective Walsh Katrine Mine, Copper King and Kerr North gold/copper properties and is contiguous to Queenston's Upper Beaver Property. A 10,000 metre drill program is underway with several targets having been identified based on geophysics recently completed on the property.

"With the staking of these properties we have tied up additional highly prospective land in an area which is a known gold/copper producing region," commented Bill Dickie, President and CEO of Ateba. "More than 38 million ounces of gold has been produced from within a 30 km radius of our property and we are obviously very eager to begin drilling. We have started our drill program with the goal of exploring the existing historical underground workings and trenches as well as make new discoveries."

To view the, "Ateba Property Map," please visit the following link: http://media3.marketwire.com/docs/AtebaPropertyExpansionFeb11.jpeg.

This map illustrates the boundary of claims that have been staked and filed.

About Ateba Resources

Ateba Resources is a mineral exploration company that is focused on exploring for gold and copper along the Matachewan Kirkland fault of Larder - Cadillac Break. The Company's flagship project encompasses the highly prospective Walsh Katrine, Copper King and Kerr North gold properties that are now contiguous to Queenston's Upper Beaver Property. The project extends 15 km toward the Quebec border and is accessible year round by road. In addition, the Company also has a uranium property in Elliot Lake on which there is a historic uranium resource of 12 million pounds of U3O8. The property is contiguous to the Pele Mountain Eco Ridge property where significant assays for total rare earth oxides (TREO's) have been reported.

Note Regarding Forward-Looking Statements

This press release and other written or oral communication from Ateba Resources Inc. (the "Company") may include certain statements that may be considered "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Statements other than historical facts that address possible future events, plans or developments are forward-looking statements. Such statements may be identified by the use of words such as "will", ""may", "expects", "estimate", "intend" or the use of the future or conditional tense. Certain material factors or assumptions were applied in drawing our conclusions and making those forward-looking statements. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. Readers are cautioned that risks may change or new risks may emerge. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law.

Shares outstanding 48,882,579

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