Atlantic Gold Completes Acquisition of Acadian Mining

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 22, 2014) - Atlantic Gold Corp. (TSX VENTURE:AGB)(ASX:AGB) ("Atlantic" or the "Company") (formerly Spur Ventures Inc.) is pleased to announce that the Company has completed the acquisition of all of the issued share capital in Acadian Mining Corp. ("Acadian") for 8,876,542 common shares (the "Consideration Shares") of Atlantic and $3,610,740 million in cash pursuant to a share purchase agreement (the "Agreement") among Acadian, LionGold Mining Canada Inc. (the "Vendor"), and LionGold Corp Ltd as guarantor as originally announced by Altantic on September 2, 2014.

Under the terms of the Agreement, a total of 2,000,000 Consideration Shares were held back from issuance to the Vendor pending the completion of certain post-closing deliverables.

As previously disclosed on September 2, 2014, the assets of Acadian comprise the Beaver Dam and Fifteen Mile Stream gold projects, which have mineral resource and historical resource estimates, respectively, and which are located proximal to the Company's recently acquired Touquoy and Cochrane Hill Projects, plus an extensive portfolio of exploration properties totaling over 22,000 ha in the prospective Meguma Terrane of Nova Scotia, Canada.

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 release.

Forward-Looking Statements:

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements and information are not historical facts, are made as of the date of this press release, and include, but are not limited to, statements regarding discussions of future plans, guidance, projections, objectives, estimates and forecasts and statements as to management's expectations with respect to, among other things, mineral properties and the transactions described in this news release. These forward looking statements involve numerous risks and uncertainties and actual results may vary. Important factors that may cause actual results to vary include without limitation, the timing and receipt of certain approvals, changes in commodity and power prices, changes in interest and currency exchange rates, risks inherent in exploration results, timing and success, inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), changes in development or mining plans due to changes in logistical, technical or other factors, unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications, cost escalation, unavailability of materials, equipment and third party contractors, delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), political risk, social unrest, and changes in general economic conditions or conditions in the financial markets.

In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, the assumptions that: (1) market fundamentals will result in sustained gold demand and prices; (2) the receipt of any necessary approvals and consents in connection with the development of any properties; (3) the availability of financing on suitable terms for the development, construction and continued operation of any mineral properties; and (4) sustained commodity prices such that any properties that may be put into operation remain economically viable. Information concerning historical resource estimates and mineral resource estimates also may be considered forward-looking statements, as such information constitutes a prediction of what mineralization might be found to be present if and when a project is actually developed. Certain of the risks and assumptions are described in more detail in the Company's audited financial statements and MD&A for the year ended December 31, 2013 and the quarter ended June 30, 2014 on the SEDAR website at www.sedar.com. The actual results or performance by the Company could differ materially from those expressed in, or implied by, any forward-looking statements relating to those matters. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Except as required by law, we are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.