February 6,
2008: Anatolia
Minerals Development Limited ("Anatolia") [TSX:ANO]has filed on SEDAR (www.sedar.com) the Preliminary Assessment Sulfide Ore Processing
Technical Report under National
Instrument 43-101 ("Sulfide Scoping Study") for its 100%-owned
��pler Gold Project in Turkey.� The
Sulfide Scoping Study, which assumes production from sulfide resources,
located primarily below the oxide reserves, following depletion of
��pler's 1.8 million ounce oxide mine, estimated an initial capital cost
of $161 million for sulfide processing facilities, with average $385 per
ounce cash operating costs for 2.3 million ounces of gold produced over a
12-year life, thus potentially extending the mine life to over 20 years
at assumed production rates. A copy of the Sulfide Scoping Study can also
be found on our website at www.anatoliaminerals.com
Based upon the results of this Sulfide Scoping Study, Anatolia
plans to proceed with follow-up engineering, metallurgy and other work in
order to develop a Preliminary Feasibility Study within the next few
years. If subsequent work confirms favorable economics, Anatolia could
consider initiating development within a few years after the planned
oxide mine reaches full commercial production, or could wait until the
oxide reserves are depleted, as assumed in the study. Either could have a
positive financial impact on Anatolia.
The Scoping Study represents an unoptimized, technically feasible
design undertaken for Anatolia by Pennstrom Consulting, Easton Process
Consulting, Inc. and Resource Development Inc. All dollar references
herein are in U.S. dollars.�
Consulting
Engineers
Anatolia
retained William J. Pennstrom of Pennstrom Consulting and Christopher
Easton of Easton Processing Consulting Inc., who prepared the process and
infrastructure design and capital and operating costs and integrated the
work of other consultants, including Independent Mining Consultants as
filed on SEDAR April 30, 2007, (mineral reserves, resource estimation and
mine planning), and Deepak Malhotra of Resource Development Inc. (metallurgical
testing).
Qualified
Persons
Mr. William
J. Pennstrom of Pennstrom Consulting is the "qualified person"
as defined by National Instrument 43-101 of the Canadian Securities
Administrators ("NI 43-101") and is responsible solely for the
contents of the Scoping Study. Mr. Christopher Easton of Easton
Processing Consulting Inc. is the "qualified person" for the
process design, Mr. Malhotra of Resource Development Inc. is the
"qualified person" for metallurgy and Mr. John Marek, P.E. of
Independent Mining Consultants is the "qualified person" for
the resource estimate and ore reserves, as per the SEDAR 43-101 document
filed April 30, 2007. Messrs. Pennstrom, Easton, Malhotra and Marek are
not responsible for the contents of this news release. The Scoping Study is preliminary in
nature and includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations applied to
them that would enable them to be categorized as mineral reserves, and
there is no certainty that the preliminary assessment will be realized.
Additional drilling will be required and is planned to better categorize
these mineral resources. A technical report summarizing the Scoping Study
and meeting the requirements of NI 43-101 will be filed with the
appropriate regulatory authorities within 45 calendar days of this news
release.
Anatolia is developing its 100%-owned ��pler Gold Project in
Turkey. The current phase of development anticipates mining the
open-pittable oxide portion of the deposit over a 10-year period,
producing 1.8 million ounces gold and 2.2 million ounces silver.
Additionally, Anatolia is among Turkey's leading minerals exploration
companies, targeting numerous potentially large-scale base metals and
gold opportunities.
Anatolia currently has 83.1 million common shares issued and
outstanding, 99.3 million fully diluted. For more information: Richard C.
Moores, President, (303) 670-9945/9947 (fax), or Douglas Tobler, Chief
Financial Officer, (303) 292-1299/297-0538 (fax), or visit
www..anatoliaminerals.com. Anatolia trades on the Toronto Stock
Exchange as ANO.
This news release may contain forward-looking statements in
respect of various matters including upcoming work programs and events.
The results or events predicted in these forward-looking statements may
differ materially from actual results or events. Anatolia disclaims any
obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise. Assays are
performed by ALS-Chemex, Vancouver, BC, Canada, with quality control of
sampling, preparation and assaying overseen by Anatolia, whose President,
Richard C. Moores, is a "qualified person" for the purposes of
applicable Canadian securities regulations. Mr. Moores reviewed this
press release.