ATAC Resources Ltd. Announces closing of Upsized Private Placement

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VANCOUVER, BC, April 1, 2022 /CNW/ - ATAC Resources Ltd. (TSXV: ATC) ("ATAC" or the "Company") is pleased to announce that it has closed the private placement originally announced on March 9, 2022, as amended by its news release dated March 11, 2022. The private placement consisted of the sale of 25,000,000 flow-through units (the "Units") at a price of $0.16 per Unit, for total subscription proceeds of $4,000,000. Each Unit consisted of one flow-through common share and one-half (1/2) of a share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.22 until March 31, 2024.

The Company paid cash commissions totalling $231,180 and issued a total of 1,444,875 finder warrants to various finders including Dundee Goodman Merchant Partners, Marquest Asset Management Inc., Haywood Securities Inc., Leede Jones Gable Inc. and Canaccord Genuity Corp. in connection with the private placement.  Each finder warrant entitles the holder to purchase one common share at a price of $0.22 until March 31, 2024.

All of the securities issued pursuant to this private placement, including any common shares that may be issued pursuant to the exercise of the warrants or the finder warrants, are subject to a hold period in Canada until August 1, 2022.

About ATAC

ATAC is a Vancouver-based exploration company focused on exploring for gold and copper in Yukon, BC and Nevada. Work on its ~1,700 km² Rackla Gold Property in Yukon has resulted in the Osiris Project Inferred Mineral Resource of 1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt), the Tiger Deposit Measured & Indicated Mineral Resource of 464,000 oz of gold at an average grade of 3.19 g/t (in 4.5 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of $118.2M and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC is well-financed with over $9 million in working capital.

On behalf of ATAC Resources Ltd.

Graham Downs, President and CEO

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 NEWS RELEASE.

Cautionary note regarding forward-looking statements:

This press release may contain "forward-looking information" within the meaning of applicable securities laws.  Readers are cautioned to not place undue reliance on forward-looking information.  Actual results and developments may differ materially from those contemplated by these statements.  The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to update forward-looking information, except as required by securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States or to a U.S. person in the absence of such registration or an exemption from the registration requirements of the Securities Act and applicable U.S. state securities laws. The issuer will not make any public offering of the securities in the United States.

SOURCE ATAC Resources Ltd.

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