Atna Announces Amendment of Convertible Debentures

GOLDEN, Colo., Sept. 8 /PRNewswire/ -- Atna Resources Ltd. ("Atna") – (TSX: ATN) has amended the terms of its CAD$1,500,000 convertible debentures, full particulars of which are disclosed in Atna's news releases dated September 14, 2009 and September 18, 2009. All amounts are in Canadian dollars.

At the election of the debenture holders, $150,000 of the debentures will be repaid on their original maturity date of September 18, 2010. The maturity date of $1,300,000 of the debentures will be extended for one year to September 18, 2011 and the conversion price will be amended to $0.50, which is 110 percent of the five day volume weighted average price ("VWAP") of Atna's common shares on the Toronto Stock Exchange (the "TSX") on August 19, 2010. $50,000 of the debentures will convert to common shares at $0.45 per share, the five day VWAP preceding August 19, 2010. The TSX has conditionally approved the amendments subject to the filing of final documents. The common shares issued upon conversion of the debentures, if any, will be subject to a standard four-month hold period. All other terms remain unchanged.

For additional information on Atna Resources, please visit our website at www.atna.com.

Related Party Disclosure

Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the amendments constitute a "related party transaction" as a director of Atna, Glen Dickson (the "Related Party"), will have debentures in the amount of $100,000 amended. Atna will rely upon the formal valuation exemption in Section 5.5(a) of MI 61-101 and upon the minority approval exemption in Section 5.7(a) of MI 61-101. Such an exemption is available to Atna as, at the time the transaction was agreed to, neither the fair market value of the subject matter of, nor the fair market value consideration for the transaction, insofar as it involves interested parties, exceeds 25 percent of Atna's market capitalization. As a related party transaction, the following additional disclosures are provided as required by Section 5.2 of MI 61-101.

Since the amendments are limited to $1,300,000 of debentures, management expects little to no effect on Atna's business and affairs.

The Related Party, to the extent that he holds Atna common shares, will experience the same effects as other Atna shareholders as a result of the amendment of the debentures. The Related Party will be entitled to receive interest and return of the principal amount of his debenture in priority to Atna shareholders. If the Related Party exercises the conversion right pursuant to his debenture, then the Related Party will be entitled to receive common shares at a price of CAD$0.50, which may be below the market price of common shares at the time of conversion.

The amendments have been approved by five of the six directors of Atna, the Related Party having abstained from the vote. The filing of a material change report less than 21 days before the amendments take effect is reasonable in the circumstances as Atna wishes to complete the amendments in a timely manner.

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

SOURCE Atna Resources Ltd.