touquoy gold mine announcement

ATV yesterday announced an update on the proposed mine at Touquoy in Nova Scotia.

Important points from announcement were:

"In summary the Touquoy Gold Project is a very attractive project with an IRR of at least 37% on a pre tax ungeared basis"

"The project economics remain robust...."

"Indications are the Touquoy Gold Project is readily fundable...."

"...Cochrane Hill property....potential for identifying additional mill feed...at least 200,00 ounces gold..."

"....deposits such as Touquoy....tend to contain more gold than can be estimated from sampling and modelling."

"...management is therefore very confident of the current robust resource model, and the financial projections derived from this model."

Net cash flow for Touquoy on initial mine life of 6 years is $132 million.

Major potential for upside in the region. Refer to recent article in Resource Stocks re link:

http://www.atlanticgold.com.au/pdf/other/RS_April_08_Atlantic.pdf