North Atlantic Resources Ltd.

North Atlantic Resources Ltd.

January 20, 2011 17:47 ET

North Atlantic Appoints Manager, Project Development and Issues Incentive Stock Options

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2011) - North Atlantic Resources Ltd. (TSX VENTURE:NAC) ("North Atlantic" or the "Company") is pleased to announce the appointment of H. Andrew Daniels, P. Geo. as North Atlantic's Manager, Project Development.

Mr. Daniels obtained his B. Sc. from Acadia University in 1985. Since 1985 Mr. Daniels has worked with industry leaders such as Western Mining Corp., Senior Geologist, Kilborn SNC, Senior Geologist Mining and Metallurgy Division, Minorco Services BV/Anglo American plc, as Senior Project Geologist and Exploration Manager. Mr. Daniels' expertise with resource evaluation and mineral exploration in lateritic terrain are particularly welcomed by North Atlantic.

The Company has granted an incentive stock option in respect of 150,000 common shares to Mr. Daniels. The option was granted pursuant to the Company's existing Stock Option Plan, is exercisable at $0.57 per share (being the closing price of the Company's common shares on January 19, 2011), and has a five year term expiring January 19, 2016.

North Atlantic has 57,726,124 common shares issued and outstanding (83,668,018 shares on a fully diluted basis).

This press release has been prepared by North Atlantic Resources Ltd. 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.

Contact Information

  • North Atlantic Resources Ltd.
    Scott Waldie
    President and CEO
    (416) 703-6348