North Atlantic Resources Ltd.
TSX : NAC

North Atlantic Resources Ltd.

May 29, 2006 12:13 ET

North Atlantic Resources Ltd. Delineation Drilling Results from the FT Gold Project in Mali Include 46 m Grading 1.64 g/t Gold and 35 m Grading 3.11 g/t Gold

TORONTO, ONTARIO--(CCNMatthews - May 29, 2006) -

Delineation drilling results from the FT gold project, Republic of Mali, include 46 meters grading 1.64 grams per tonne gold at the Tiekoumala segment and 35 meters grading 3.11 grams per tonne gold at the Foulalaba segment

Dr. Jon North, President and CEO of North Atlantic Resources Ltd. ("the Company") (TSX:NAC) reports:

The FT gold project comprises over 500 square kilometers of mineral rights in southern Mali, 100 kilometers southwest of the 10 million ounce Morila gold deposit (Randgold-AngloGold). This press release describes the results of an additional 13, 041 meters of diamond drilling (40 holes), and 3,300 meters of reverse circulation drilling (21 holes). Assaying has taken longer than expected because of high sample volumes in Mali's two main laboratories. In addition, because visible gold (VG) has been encountered in many of the drill holes, the Company has cross checked assay results with multiple laboratories and completed numerous screen metallics check assays in order to achieve the best possible numerical accuracy in a sample suite containing coarse gold. Most of the visible gold grains noted are in the silicate assemblage intergrown with quartz and biotite, with or without secondary sulphide minerals. Visible gold grains were noted in the following holes at the following depths:



Hole number Meters down hole

06TKDDH-08 219.5
06TKDDH-10 90.5
06TKDDH-18 254.0
06TKDDH-21 278.3, 286.6
06TKDDH-23 208.5
06TKDDH-27 132.9, 145.0
06TKDDH-32 186.3
05-FLDDH-09 134.3
05-FLDDH-14 307.1


The drill holes are illustrated on the attached maps and sections. The results from the drill holes are reported in the following tables. Diamond drill holes are denoted DDH and reverse circulation holes are denoted RC. The mineralized zone is subdivided into two segments, Foulalaba in the south, and Tiekoumala in the north. In general, the longest intersection and its composite grade are reported on the sections and the longest composite assay as well as selected high grade intervals are reported in the tables. Drill holes with visible gold are highlighted in yellow. The composite assays represent the length of the drilled intersection and not necessarily the true width.

These results provide the drill hole density necessary for the initial gold resource estimate at both the Tiekoumala and Foulalaba segments of the gold zone at FT. SRK Consulting has been engaged to provide the initial NI 43-101 standard report on the FT project. A representative of SRK Consulting made a site visit to FT in mid-May. The Company will announce the results of the report as soon as they are available. This work is part of an ongoing drilling program at FT.

Tiekoumala Segment



--------------------------------------------------------------------
Grams
per
Total tonne
Section Section length From To Width gold
(N) (E) Drill hole (m) (m) (m) (m) (g/t) (Au)
--------------------------------------------------------------------
10550 4460 05TKRC-67bis 202 0 26 26 0.46
--------------------------------------------------------------------
114 126 12 0.6
--------------------------------------------------------------------
10550 4600 05TKRC-68 160 NSV
--------------------------------------------------------------------
10550 4460 05TKRC-69 160 40 96 56 0.19
--------------------------------------------------------------------
including 40 60 20 0.68
--------------------------------------------------------------------
including 52 60 8 1.33
--------------------------------------------------------------------
10200 4560 05TKRC-79(i) 168 54 58 4 2.10
--------------------------------------------------------------------
122 168 46 1.25
--------------------------------------------------------------------
10150 4480 05TKRC-80 160 NSV
--------------------------------------------------------------------
10150 4560 05TKRC-81 186 70 76 6 2.67
--------------------------------------------------------------------
140 172 32 1.00
--------------------------------------------------------------------
10150 4780 05TKRC-82 204 158 194 36 0.40
--------------------------------------------------------------------
10050 4620 05TKRC-83 90 NSV
--------------------------------------------------------------------
10050 4620 05TKRC-83bis 180 114 146 32 0.80
--------------------------------------------------------------------
9950 4640 05TKRC-84 150 116 126 10 0.45
--------------------------------------------------------------------
9900 4849 05TKRC-85 180 128 156 28 0.36
--------------------------------------------------------------------
10052 4809 05TKRC-86(i) 160 154 160 6 1.22
--------------------------------------------------------------------
9948 4841 05TKRC-87 180 118 156 38 0.83
--------------------------------------------------------------------
including 146 156 10 1.76
--------------------------------------------------------------------
10651 4361 06TKRC-01(i) 150 0 150 150 0.28
--------------------------------------------------------------------
including 24 40 16 0.91
--------------------------------------------------------------------
and 56 70 14 0.68
--------------------------------------------------------------------
and 142 150 8 1.00
--------------------------------------------------------------------
10709 4443 06TKRC-02 150 NSV
--------------------------------------------------------------------
10600 4420 06TKRC-03(i) 150 4 56 52 0.71
--------------------------------------------------------------------
136 150 14 0.45
--------------------------------------------------------------------
10635 4251 06TKRC-04 150 30 36 6 1.05
--------------------------------------------------------------------
52 64 12 0.95
--------------------------------------------------------------------
132 138 6 0.80
--------------------------------------------------------------------
10692 4332 05TKRC-05 150 NSV
--------------------------------------------------------------------
10199 4718 05TKDDH-13 253 50 56 6 2.30
--------------------------------------------------------------------
79 80 1 2.97
--------------------------------------------------------------------
98 111 13 1.11
--------------------------------------------------------------------
121 173 52 0.72
--------------------------------------------------------------------
including 132 134 2 3.51
--------------------------------------------------------------------
and 161 173 12 1.22
--------------------------------------------------------------------
214 215 1 2.75
--------------------------------------------------------------------
10102 4795 06TKDDH-01 279 195 249 54 1.03
--------------------------------------------------------------------
including 197 201 4 2.90
--------------------------------------------------------------------
and 240 249 9 1.95
--------------------------------------------------------------------
including 245 249 4 3.00
--------------------------------------------------------------------
10298 4713 06TKDDH-02(i) 258 206 258 52 0.51
--------------------------------------------------------------------
including 231 237 6 1.11
--------------------------------------------------------------------
9996 4831 06TKDDH-03 270 180 231 51 0.98
--------------------------------------------------------------------
including 192 230 38 1.20
--------------------------------------------------------------------
including 192 199 7 2.26
--------------------------------------------------------------------
10250 4460 06TKDDH-04 345 267 268 1 2.35
--------------------------------------------------------------------
10900 4750 06TKDDH-05 345 169 183 14 0.63
--------------------------------------------------------------------
217 222 5 1.44
--------------------------------------------------------------------
11000 4750 06TKDDH-06 381 NSV
--------------------------------------------------------------------
11100 4750 06TKDDH-07 340 NSV
--------------------------------------------------------------------
10600 4280 06TKDDH-08 342 179 225 46 1.64
--------------------------------------------------------------------
including 179 190 11 5.54
--------------------------------------------------------------------
269 270 1 2.05
--------------------------------------------------------------------
10500 4340 06TKDDH-09 333 169 170 1 3.61
--------------------------------------------------------------------
223 226 3 1.99
--------------------------------------------------------------------
269 275 6 1.03
--------------------------------------------------------------------
10550 4380 06TKDDH-10 350 6 7 1 2.2
--------------------------------------------------------------------
83 95 12 2.08
--------------------------------------------------------------------
114 155 41 0.61
--------------------------------------------------------------------
including 145 151 6 1.76
--------------------------------------------------------------------
237 238 1 3.94
--------------------------------------------------------------------
244 245 1 2.47
--------------------------------------------------------------------
263 264 1 3.02
--------------------------------------------------------------------
10450 4370 06TKDDH-11 327 217 259 42 0.54
--------------------------------------------------------------------
including 220 224 4 2.91
--------------------------------------------------------------------
and 245 249 4 1.07
--------------------------------------------------------------------
9900 4920 06TKDDH-12 314.8 216 223 7 0.42
--------------------------------------------------------------------
9900 4740 06TKDDH-13 185.7 NSV
--------------------------------------------------------------------
9950 4920 06TKDDH-14 303 NSV
--------------------------------------------------------------------
10000 4920 06TKDDH-15 362.7 NSV
--------------------------------------------------------------------
10050 4860 06TKDDH-16 345 6 12 6 2.86
--------------------------------------------------------------------
10100 4500 06TKDDH-17 428.1 NSV
--------------------------------------------------------------------
10150 4520 06-TKDDH-18 348 241 264 23 1.78
--------------------------------------------------------------------
including 244 248 4 3.24
--------------------------------------------------------------------
and 252 254 2 5.78
--------------------------------------------------------------------
10200 4800 06TKDDH-19 360 NSV
--------------------------------------------------------------------
10300 4420 06TKDDH-20 402 NSV
--------------------------------------------------------------------
10350 4400 06TKDDH-21 371.7 246 290 44 0.76
--------------------------------------------------------------------
including 270 273 3 2.15
--------------------------------------------------------------------
and 285 290 5 3.36
--------------------------------------------------------------------
10600 4200 06TKDDH-22 381 213 216 3 0.61
--------------------------------------------------------------------
10550 4300 06TKDDH-23 482.5 203 214 11 1.20
--------------------------------------------------------------------
including 207 212 5 1.92
--------------------------------------------------------------------
424 425 1 2.72
--------------------------------------------------------------------
10150 4430 06TKDDH-24 486 NSV
--------------------------------------------------------------------
10150 4480 06TKDDH-25 435 NSV
--------------------------------------------------------------------
10150 4560 06TKDDH-26 369 200 208 8 1.38
--------------------------------------------------------------------
including 203 207 4 2.42
--------------------------------------------------------------------
10150 4610 06TKDDH-27 300.4 98 146 48 0.56
--------------------------------------------------------------------
10300 4345 06TKDDH-28 461.9 NSV
--------------------------------------------------------------------
10300 4460 06TKDDH-29 328 242 268 26 0.51
--------------------------------------------------------------------
including 242 252 10 0.80
--------------------------------------------------------------------
10550 4340 06TKDDH-32 439 152 212 60 1.01
--------------------------------------------------------------------
including 182 189 7 5.24
--------------------------------------------------------------------
Note: (i) - hole ended in the mineralized zone,
NSV - no significant values


Description of the drilling results from the Tiekoumala segment
The Tiekoumala Segment trends west-northwest. It has been intersected by delineation diamond and RC holes over a strike length of 900 meters. Most of the drill holes intersected the zone above 200 vertical meters depth and the zone is open in all directions.

Foulalaba Segment



--------------------------------------------------------------------
Grams
per
Total tonne
Section Section length From To Width gold
(N) (E) Drill hole (m) (m) (m) (m) (g/t) (Au)
--------------------------------------------------------------------
8904 4831 05FLRC-72(i) 54 42 54 12 1.93
--------------------------------------------------------------------
8605 4862 05-FLRC-75 210 110 126 16 1.37
--------------------------------------------------------------------
8500 4910 05FLDDH-04(i) 207 201 207 6 2.65
--------------------------------------------------------------------
8600 4910 05FLDDH-05(i) 186 180 186 6 0.74
--------------------------------------------------------------------
8700 4910 05FLDDH-06 204 159 166 7 0.69
--------------------------------------------------------------------
173 175 2 1.07
--------------------------------------------------------------------
8800 4910 05FLDDH-07 240 157 165 8 0.96
--------------------------------------------------------------------
173 175 2 1.07
--------------------------------------------------------------------
8996 4909 05FLDDH-09 214 35 37 2 1.58
--------------------------------------------------------------------
121 176 55 0.67
--------------------------------------------------------------------
including 121 137 16 1.12
--------------------------------------------------------------------
and 142 144 2 2.39
--------------------------------------------------------------------
9096 4912 05FLDDH-10 218 125 145 20 0.85
--------------------------------------------------------------------
including 129 134 5 1.89
--------------------------------------------------------------------
and 137 139 2 1.29
--------------------------------------------------------------------
9200 4910 05FLDDH-11 220 135 158 23 1.27
--------------------------------------------------------------------
148 158 10 2.48
--------------------------------------------------------------------
9500 4910 05FLDDH-13 245 214 215 1 1.23
--------------------------------------------------------------------
8933 5027 05FLDDH-14 380 281 316 35 3.11
--------------------------------------------------------------------
including 307 316 9 11.42
--------------------------------------------------------------------
including 307 308 1 98.00
--------------------------------------------------------------------
Anomaly J N/A 05-FLRC-97 80 0 12 12 1.17
--------------------------------------------------------------------
including 0 4 4 2.26
--------------------------------------------------------------------
Anomaly J N/A 05-FLRC-101 80 62 64 2 1.96
--------------------------------------------------------------------
Note: (i) - hole ended in the mineralized zone,
NSV - no significant values


Description of the drilling results from the Foulalaba segment
The Foulalaba Segment trends 315( and dips steeply east. Drill holes have intersected the zone over a strike length of 900 meters and to a vertical depth of 150 meters. The zone is open along strike and down dip.

New Targets

Thirteen RC holes each 80 m long (1,040 m) were drilled in 2 reconnaissance fences of reverse circulation holes across geochemical anomaly "J", 3 km SE of the Foulalaba segment. Holes 05FLRC-97 and 101 (see table above) verified that gold is concentrated in the bedrock below the gold in soil anomaly. Hole 05FLRC-97 was collared in the mineralized zone and contained 4 meters @ 2.26 g/t gold from surface. Follow up RC drilling will be completed to determine the grade and thickness of the zone and to determine whether or not it is connected to the Foulalaba segment.

President's report

Dr. Jon North, the President and CEO of North Atlantic Resources reported "Diamond and reverse circulation holes continue to indicate that the FT gold zone is very wide and continuous. Both the Tiekoumala and Foulalaba segments have been intersected over 900 meters of strike length for a combined length of 1,800 meters. The zone is open along strike and down dip below 150 to 200 meters vertical depth. The priority for the project is to complete a 3 dimensional model of the zone and estimate the gold resource as soon as possible."

The drilling at FT gold project was completed by the professional staff of West African Drilling Services. The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core was shipped to the Analabs Morila facility, Kayes facility, Abilabs Bamako, and ALS Chemex, Vancouver and analyzed for gold by fire assay-AA on a 50 gram sample charge. RC samples were split on site and sent to Analabs Morila facility or Abilabs Bamako facility and analyzed for gold by fire assay-AA on a 50 gram sample charge. The Company inserts a standard, duplicate, and blank in each batch of 20 samples analyzed to monitor laboratory accuracy and precision. The drafting was completed by Burt Consulting Services.

The Company's current land holdings consist of 1,419 square km (350,642 acres) of mineral rights in 6 gold projects in the Republic of Mali.

The technical information contained in this release and the technical work is being supervised by Jon North, Ph.D., P. Geo., who is a Qualified Person as defined by National Instrument 43-101. North Atlantic Resources Ltd. is engaged in the research, area selection, acquisition, and exploration of gold deposits in the Republic of Mali, west Africa. North Atlantic has 19,132,308 common shares issued and outstanding (21,246,058 shares on a fully diluted basis).

Please visit www.nac-tsx.com to view maps and more project details.

To view the maps accompanying this release, please click on the following links:

http://www.ccnmatthews.com/docs/nac1.pdf

http://www.ccnmatthews.com/docs/nac2.pdf

http://www.ccnmatthews.com/docs/nac3.pdf


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

Contact Information

  • North Atlantic Resources Ltd.
    Jon North, P.Geo.
    President and CEO
    (416) 703-6348
    or
    North Atlantic Resources Ltd.
    Nathalie Roy
    Corporate Affairs
    (416) 703-6348
    (416) 703-6507 (FAX)
    info@nac-tsx.com
    www.nac-tsx.com