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Atna Resources' assets sold off amid bankruptcy proceedings

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Atna Resources' assets sold off amid bankruptcy proceedings

As part of Chapter 11 bankruptcy proceedings, some of 's mining projectsand mineral rights were auctioned, TheDenver Post reported May 9, citingfilings made in the U.S. Bankruptcy Court in Colorado.

The company's Pinson gold project in Nevada and gold-silver mine inMontana went to lender WatertonPrecious Metals Fund II Cayman LP, while DV Natural Resourcessecured the Briggs gold-silver project in California.

Meanwhile, certain mineral rights were given to and W.R.H. Nevada.

In addition, Atna is expecting the British ColumbiaSecurities Commission to issue a cease-trading order for its shares after itfailed to file certain financial statements, the company said in a same-dayrelease.

"The company has no present expectation that it willever be in a position to remedy its failure to make its annual continuousdisclosure filings," Atna said.

Atna Resources' shares have been from the TSX in December 2015as a result of the start of proceedings under Chapter 11 of the bankruptcy codein the U.S. Bankruptcy Court for the District of Colorado and ancillaryrecognition proceedings in Canada pursuant to the Companies' CreditorsArrangement Act.