Atco Mining Inc. announced that it has begun a strategic initiative to advance its 100%-owned Eagle Salt Project ("Eagle Salt") in Newfoundland, Canada. Atco intends to apply for an exploration permit to conduct a 2D seismic survey at Eagle Salt and aims to file the Application for Exploration Approval permit with the Mineral Lands Division (Department of Industry, Energy & Technology, Newfoundland and Labrador) within the next two weeks. Recently, RESPEC Consulting Inc. ("RESPEC") analyzed Atco's gravity survey data for Eagle Salt and observed two gravity anomalies in the southwest ("Baldy") and northeast ("Golden") areas.

The gravity anomalies suggest the presence of low-density strata, such as salt. Additional 2D seismic surveys over these anomalies would allow Atco to define the dimensions of the potential low-density strata structure. Once permits are received, Atco will evaluate next steps in its Eagle Salt exploration program and determine whether to proceed with the survey.