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TORONTO, ONTARIO--(Marketwire - June 11, 2010) - Ateba Resources Inc. ("Ateba" or the "Company") (CNSX:ATR) is pleased to announce that it intends to undertake a private placement offering of up to 6 million flow-through and hard-dollar units ("FT Units" and "Units", respectively) at a price of $0.08 per for total gross proceeds of $480,000. Each flow through unit is priced at $0.08 and will consist of one flow through share and one hard dollar warrant at $0.12 exercisable for a period of two years from closing. Each hard dollar unit is priced at $0.08 and will consist of one flow through share and one hard dollar warrant at $0.12 exercisable for a period of two years from closing. All warrants may be accelerated if the common shares of Ateba trade at or above $0.25 for 20 consecutive trading days on a stock exchange four months and one day after the closing of the offering. The private placement will be done on a best efforts basis. In addition, Ateba intends to apply to the TSX Venture for a listing.

About Ateba Resources

Ateba Resources is a mineral exploration company that is focused on exploring for gold along the Cadillac - Larder Break of the Porcupine Destor Fault in the Kirkland Lake Ontario Gold Camp. The Company's flagship property is the highly prospective Walsh Katrine gold property located 12 km north east of the Queenston Upper Beaver Property. The Katrine Walsh property is accessible year round by road. In addition, Ateba holds a uranium property in Elliott Lake with historic resources of 12.9 million tons grading 0.75 lbs. For additional information on Ateba resources and its projects, please visit the Company's website at [ www.atebaresources.ca ].

Note Regarding Forward-Looking Statements

This press release and other written or oral communication from Ateba Resources Inc. (the "Company") may include certain statements that may be considered "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Statements other than historical facts that address possible future events, plans or developments are forward-looking statements. Such statements may be identified by the use of words such as "will", ""may", "expects", "estimate", "intend" or the use of the future or conditional tense. Certain material factors or assumptions were applied in drawing our conclusions and making those forward-looking statements. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. Readers are cautioned that risks may change or new risks may emerge. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at [ www.sedar.com ]. The Company undertakes no obligation to update this forward-looking information except as required by applicable law.

Shares Outstanding: 29,860,026

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