TORONTO, June 07, 2018 (GLOBE NEWSWIRE) -- At the request of IIROC, Altai Resources Inc. (TSX VENTURE:ATI) (US SEC Rule 12g3-2(b) File # 82-2950) (“Altai” or the “Company”) reports that the Quebec Minister of Energy and Natural Resources, Mr. Pierre Moreau, has announced in the afternoon of June 6, 2018 a series of measures regarding regulations on hydrocarbon exploration and production in Quebec including a ban on fracking in shales and various other restrictions pertaining to distances where fracking may be permitted and other measures. The press release by the Ministry, in French only at present, can be viewed at: https://mern.gouv.qc.ca/reglements-hydrocarbures-protection-population-environnement-2018-06-06/.
According to the Ministry’s press release, the prepublication of the regulations will be subject to the usual 45 day consultation period before coming into force.
The Company has disclosed all the information available to it at this time. Altai will undertake a study of the proposed new regulations as soon as they are made public and examine the various available alternatives.
Altai Resources Inc. is a resource company with a producing oil property in Alberta and exploration gold and gas properties in Quebec. The Company has approximately $3.6 million in cash and marketable securities.
For further information, please contact
Maria Au, Secretary-Treasurer
Tel: (416) 383-1328 Fax: (416) 383-1686
Email: firstname.lastname@example.org Internet: http://www.altairesources.com
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This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.