North Atlantic Resources Ltd.

North Atlantic Resources Ltd.

March 04, 2005 15:34 ET

North Atlantic Resources Ltd.: Diamond Drill Holes Intersect Multiple Gold Zones Including 20 Meters at 4.22 g/t Au at Kantela Project, Sadiola Area, Western Mali


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NORTH ATLANTIC RESOURCES LTD.

TSX SYMBOL: NAC

MARCH 4, 2005 - 15:34 ET

North Atlantic Resources Ltd.: Diamond Drill Holes
Intersect Multiple Gold Zones Including 20 Meters at
4.22 g/t Au at Kantela Project, Sadiola Area, Western
Mali

TORONTO, ONTARIO--(CCNMatthews - March 4, 2005) -

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

Kantela Gold Project

A diamond drilling program consisting of 1,729 meters of drilling in 8
holes has been completed at Kantela. The project ties on to the Sadiola
gold Mine (Iamgold-Anglogold) in western Mali. Five of the holes tested
a 200 meter strike length of Zone 2. Three holes were drilled at Zone 3.
The purpose of those holes was to provide Company geologists with core
samples so that they could describe the rock types, mineralogy, and
texture of the mineralized zones and to test the grade and continuity of
the mineralized zones below previously drilled reverse circulation holes
which included intersections of 8 m @ 2.68 g/t at Zone 2 and 26 m @ 5.1
g/t at Zone 3.

A summary of the results from Zone 2 are listed below. Zone 2 is 5 km
south of the FE-4 pit at the Sadiola gold mine where the cut off grade
used in inferred resource calculations has varied from 0.4 g/t gold in
1999 to 0.7 g/t in 2003 (Technical Report on the Sadiola Gold Mine,
Mali, IAMgold Corporation, May 31, 2004 filed on SEDAR). Accordingly,
drill intersections with greater than 0.5 g/t gold are emphasized in a
table which can be viewed by clicking the following link:
http://www2.ccnmatthews.com/database/fax/2000/table1.doc

A summary of the results from Zone 3 can be viewed by clicking the
following link: http://www2.ccnmatthews.com/database/fax/2000/table2.doc

Future diamond drilling at Zone 3 will explore the Zone down plunge to
the southeast. Future diamond drilling at Zone 2 will include holes
adjacent to, and down plunge of 04-KDD-04. In addition to follow up
diamond drilling at Zone 2 and 3, approximately 5,000 meters of reverse
circulation drilling is planned at Kantela to test new targets developed
in an induced polarization survey completed in 2004.

Results from other projects

A reconnaissance drilling program consisting of 3,879 meters of reverse
circulation drilling was completed at the Dalakan project in southern
Mali. Two geochemical anomalies were tested. No significant results were
obtained in the program. Future work at Dalakan will consist of mapping
and pitting at the remaining unexplored soil anomalies.

A reconnaissance drilling program consisting of 2,075 meters of reverse
circulation drilling was completed at the Tinkeleni project in southern
Mali. A single geochemical anomaly was tested with 5 fences of holes. No
significant results were obtained in the program.

The Company's current land holdings consist of 1,033 square km of
mineral rights (258,250 acres) in 7 gold projects.

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 18,176,510 common shares issued
and outstanding (22,286,532 on a fully diluted basis).

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

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

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    North Atlantic Resources Ltd.
    Jon North
    President and CEO
    (416) 703-6348
    (416) 703-6507 (FAX)
    or
    North Atlantic Resources Ltd.
    Nathalie Roy
    Corporate Affairs
    (416) 703-6348
    (416) 703-6507 (FAX)
    info@nac-tsx.com
    www.nac-tsx.com