Ateba Resources Inc.
CNSX : ATR

Ateba Resources Inc.

September 15, 2010 11:51 ET

Ateba to Commence a 3,000 Metre Drilling Program on Its Walsh Katrine Gold Project

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2010) - Ateba Resources Inc. ("Ateba" or the "Company") (CNSX:ATR) is pleased to announce that it has engaged the services of Orbit Garant Drilling Services to complete a 3,000 metre diamond drilling program on its the 100 percent-optioned Walsh Katrine Gold Project (the "Property"), located about 30 kilometres northeast of Kirkland Lake and approximately 11 kilometres north-northwest of the Kerr-Addison mine in Virginiatown.

The program will target a well known structure on the property where Ateba has completed a surface trenching and channel sampling program that resulted in multiple gold-bearing grab samples including 15.28 g/t and 17.61 g/t Au. In addition, historical diamond drilling (1986) on this targeted area produced excellent gold results including: 7.0 m grading 7.7 g/t Au and 1.7 m grading 4.0 g/t Au.

The Walsh Katrine Gold Project contains historic underground workings consisting of a 515 foot two compartment shaft and over 3,000 feet of development. Historic face sampling from the 1920s reported 13.0 g/t Au across 0.9 m and over a length of 30 m and 26.1 g/t Au across 1.4 m and over a length of 23 m.

Although much of the historic work targeted high-grade gold mineralization on the Property, the Company interest's include re-examining intervening host rock (wall rock). For example, a 1923 drilling program reports 1 m of 12 g/t Au with adjacent wall rock returning 1.56 g/t Au and 0.6 m of 491 g/t Au.

Bill Dickie, President and CEO of Ateba commented, "We are following up on a successful surface exploration program which produced high-grade grab and channel samples. In addition, we have the benefit of historical data to help us better target this diamond drilling program. We have exposed several gold-bearing veins at surface and I am eager to get the drills turning on the Property to start reporting results that will demonstrate the value of this Property as we examine the possibilities of a future production scenario."

About Ateba Resources

In addition to the Walsh Katrine Gold Project, the Company also has a uranium property in Elliot Lake on which there is a historic uranium resource of 12 million pounds of U3O8. 

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.

The CNSX does not accept responsibility for the adequacy or accuracy of this press release.

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