North Atlantic Resources Ltd.

North Atlantic Resources Ltd.

March 30, 2007 08:33 ET

North Atlantic Files Year End Financial Statements and MD&A

TORONTO, ONTARIO--(CCNMatthews - March 30, 2007) - North Atlantic Resources Ltd. ("the Company") (TSX:NAC) announced today that it has filed its Audited Consolidated Financial Statements and its Management's Discussion and Analysis for the year ended December 31, 2006 on SEDAR. To review these documents please see

North Atlantic Resources has eight gold projects comprising 1,361 square kilometers (336,310 acres) of mineral rights in the Republic of Mali, ("Mali") west Africa. Since 2002, the Company has made gold discoveries at the Kantela project (2004), FT project (2005), and Massala project (2006).

In addition to the above gold projects, the Company continues to review data from several promising gold exploration prospects in Mali and anticipates that additional projects will be acquired in 2007.

In the neighboring Republic of Niger, the Company acquired the Abelajouad uranium exploration permit in 2006 and has 4 pending uranium exploration permit applications in Niger. The Company anticipates that it will begin exploration work on its uranium exploration project in Niger in the second quarter of 2007. In addition, the Company's wholly-owned subsidiary, Selier Energy Ltd., has been granted the 19,259 square kilometer Macina oil and gas exploration permit in central Mali and, is preparing an appropriate plan for the financing and exploration of the project.

North Atlantic has 22,190,408 common shares issued and outstanding (26,002,525 shares on a fully diluted basis).

This press release has been prepared by North Atlantic Resources Ltd. and no regulatory authority has approved or disapproved the information contained herein.

Please explore to view maps and more project details.

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The statements in this press release that are not historical facts contain forward looking information. These statements address future events involving known and unknown risks and uncertainties that could cause actual results to vary materially from projected results. These risks and uncertainties include those described in the Company's Annual Information Form and MD&A.

Contact Information

  • North Atlantic Resources Ltd.
    Jon North, P.Geo.
    President and CEO
    (416) 703-6348
    North Atlantic Resources Ltd.
    Nathalie Roy
    Corporate Affairs
    (416) 703-6348