North Atlantic Resources Ltd.
TSX : NAC

North Atlantic Resources Ltd.

March 29, 2006 19:03 ET

North Atlantic Resources Ltd. 'NAC:TSX' Management's Discussion and Analysis and Financial Statements for the Year Ended December 31, 2005 Filed on SEDAR

TORONTO, ONTARIO--(CCNMatthews - March 29, 2006) - North Atlantic Resources Ltd. (TSX:NAC)

The Company has filed on SEDAR at www.sedar.com its Management's Discussion and Analysis and Financial Statements for the year ended December 31, 2005.

For the full management discussion and analysis and financial statements please visit: http://www.nac-tsx.com/main/financials/financials.htm

NAC has increased its portfolio in west Africa to having six gold exploration projects in Mali with a total combined area of 1,428 square kilometers (352,866 acres) and a 2,000 square kilometre (494,210 acres) uranium property exploration permit in neighbouring Niger.

NAC has announced additional high grade, long drill intersections from the FT gold project 604 square kilometers in southern Mali including 98 meters grading 2.39 grams per tonne gold and 2.64 grams per tonne gold over 12 meters. On the strength of these results drilling programs are ongoing and the Company has begun compiling the data for the initial resource calculation.

The priority for 2006 is the delineation work at FT and secondly, continued exploration at Kantela and Massala.

The Company has also completed extensive research in neighbouring countries and recently announced that it had acquired a 2,000 square km uranium exploration permit known as Abelajouad, in the Republic of Niger. Niger is the world's 4th largest producer of uranium.

The Company has been exploring for gold in neighboring Mali since 2002 and has made two discoveries since then. Mali is Africa's 3rd largest gold producer.

North Atlantic Resources Ltd. is very pleased to expand its business interests into uranium exploration in Niger and strongly believes in the people and geology of the region. The intention is to operate this new business venture in the same way that the Company operate in Mali - with a minimum of expatriate employees and with optimal resources devoted to exploration.

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

Click on the link provided below for more information regarding Management's Discussion and Analysis and Financial Statements for the year ended December 31, 2005:

http://www.ccnmatthews.com/docs/nac0329.pdf




Contact Information

  • North Atlantic Resources Ltd.
    Jon North, P.Geo
    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