North Atlantic Resources Ltd., formed in 1997, is a publicly listed mineral exploration Company whose shares trade on the Toronto Stock Exchange, symbol ‘NAC’.
The Company is focused on gold and energy exploration in west Africa.
NAC has eight gold projects comprising 1,361 square kilometers (336,310 acres) of mineral rights in Mali. Since 2002, the Company has made gold discoveries at the Kantela project (2004), FT project (2005), and Massala project (2006). The Company is delineating the FT gold discovery and further exploration is ongoing at Kantela, Massala, and Kourouba gold projects in Mali.
In 2006, the Company diversified into energy projects in the west African region and since then has been granted three uranium permits totaling 2,963 square kilometres of mineral rights in Niger. A hi-res airborne survey is underway.
In February 2007, the Company was granted the 20,000 square kilometre oil and gas exploration permit (Macina) in the Republic of Mali and is preparing an appropriate plan for the financing and exploration of the project.
North Atlantic Resources Ltd. has 22,190,408 common shares issued and outstanding (26,002,525 shares on a fully diluted basis).
Management is convinced that the diversification into uranium exploration in Niger and oil and gas exploration in Mali will expose shareholders to exceptional opportunities for value creation.