Atlanta had in 2003 acquired a five-year option from Breakwater to acquire these interests in the Normar, Mouskor, Malartic H and Malartic H Annex claims exercisable by incurring expenditures of $3.5 million on the properties and making payments to Breakwater totaling $125,000. To date, Atlanta has incurred approximately $2.3 million in expenditures and has paid Breakwater $100,000.

Under the terms of the new agreement, the term of the option has been extended to September 1, 2009. Atlanta will issue 41,806 common shares to Breakwater, Niogold has paid $25,000 to Breakwater and Niogold has agreed to incur up to $1.2 million in expenditures on the Malartic claims by September 1, 2009 to exercise the option. Upon exercise, Atlanta will acquire a 60% interest in the Normar and Mouskor claims and Niogold will acquire a 60% interest in the Malartic claims. Upon exercise of the option, Atlanta and Breakwater with respect to Normar and Mouskor, and Niogold and Breakwater, with respect to Malartic, will form joint ventures. Under the terms of each of the joint venture agreements, if Breakwater's interest in a venture is diluted to 10% or less, its interest therein will be converted to a 1.5% net smelter return royalty, which may be purchased for $750,000.

Following exercise of the option and prior to delivery of a bankable feasibility study, Atlanta and Niogold may increase their respective interests in the properties by an additional 10% upon Niogold making a $100,000 payment to Breakwater. Within 6 months following delivery of a bankable feasibility study on either property, Niogold and Atlanta may elect to increase their respective interests by a further 10% by making a further payment to Breakwater totaling $500,000. Provided that each of Niogold and Atlanta contribute equally to the $500,000 payment, then Atlanta and Niogold will each be entitled to a 2% net smelter return royalty on the other's property, of which one-half may be purchased for $1 million and the balance may be purchased for an additional $1 million.

Bill Baird, President and CEO of Atlanta stated: "We are very pleased to have reached this agreement which will enable Atlanta to continue to participate in the prospective Abitibi region while focusing on development of our advanced Atlanta gold project in Idaho." -- www.cnxmarketlink.com