ANATOLIA
OUTLINES STRATEGY FOR ��PLER MINE DEVELOPMENT
May 20, 2008: Anatolia Minerals Development Limited ("Anatolia"
or the "Company") [TSX: ANO] today announces a disciplined
strategy for bringing the ��pler gold mine into production. Anatolia
plans a staged approach for the development of the ��pler gold mine by
first building a heap leach operation for the near-surface oxide
mineralization. This approach takes advantage of lower capital costs,
lower operating costs and lower development risk. Cash flow from the
initial phase will provide the means to advance future stages for milling
of higher grade oxide ores and development of sulfide ore. Edward
Dowling, President and CEO, will discuss these plans today at Anatolia's
annual general meeting. A copy of Mr. Dowling's presentation is available
at Anatolia's website (www.anatoliaminerals.com).
Anatolia is developing ��pler with a holistic approach. The Company plans
a phased mine development at ��pler. Phase 1 begins with a crush-heap
leach operation for the oxide ores. Simultaneously, the Company is
accelerating exploration and technical work to generate additional gold
resource and reserves for both oxide and sulfide ores. In Phase 2, the
Company plans to install milling for higher-grade oxide ores to produce
additional gold along with the initial heap leach. Phase 3 will
culminate in the development of the sulfide mineral resources.
Capital costs for Phase 1 are estimated at approximately US$190 million.
Starting with the initial heap leach, the operation is expected to
produce about 175,000 ounces of gold per year for approximately eight
years. After the initial ramp up year, having a cash cost of
approximately $400 per ounce of gold, it is expected that cash costs for
following years will average approximately $290 per ounce of gold
recovered.
Anatolia currently has sufficient funds to commence Phase 1. The Company
will require an additional US$90 to US$100 million to complete Phase 1,
support the Company's exploration and growth strategy, and provide for
adequate working capital.
Edward Dowling stated, "After carefully considering a variety of
development alternatives, we have selected a disciplined, phased approach
for the development of ��pler. This methodical approach provides lower
initial capital cost, reduces risk and allows for the development of the
full potential of the ��pler gold mine."
About Anatolia
Anatolia Minerals is a leader among exploration and development companies
in Turkey. The Company's 100%-owned ��pler Gold Project is among Turkey's
largest undeveloped gold deposits.. Anatolia is pursuing a disciplined
strategy for growth through resource discovery and development.
Anatolia currently has 83.1 million common shares issued and outstanding,
100.4 million fully diluted. For more information: Edward Dowling,
President and CEO, or Douglas Tobler, Chief Financial Officer at (303)
292-1299 or visit www.anatoliaminerals.com. Anatolia trades on the
Toronto Stock Exchange as ANO.
Cautionary Statements
Certain statements contained in this news release constitute
forward-looking information, future oriented financial information, or
financial outlooks (collectively "forward-looking information")
within the meaning of Canadian securities laws. Forward-looking
information may relate to this news release and other matters identified
in Anatolia's public filings, Anatolia's future outlook and anticipated
events or results and, in some cases, can be identified by terminology
such as "may", "will", "could",
"should", "expect", "plan",
"anticipate", "believe", "intend",
"estimate", "projects", "predict",
"potential", "continue" or other similar expressions
concerning matters that are not historical facts and include, but are not
limited in any manner to, those with respect to commodity prices, mineral
resources, mineral reserves, realization of mineral reserves, existence
or realization of mineral resource estimates, the timing and amount of
future production, the timing of construction of the proposed mine and
process facilities, capital and operating expenditures, availability of
sufficient financing, and any and all other timing, development,
operational, financial, economic, legal, regulatory, political factors
that may influence future events or conditions. Such forward-looking
statements are based on a number of material factors and assumptions,
including, but not limited in any manner, those disclosed in any other
Anatolia filings, and include the ultimate determination of mineral
reserves, availability and final receipt of required approvals, licenses
and permits, sufficient working capital to develop and operate the
proposed mine, access to adequate services and supplies, commodity
prices, foreign currency exchange rates, interest rates, access to
capital markets and associated cost of funds, availability of a qualified
work force, and the ultimate ability to mine, process and sell mineral
products on economically favorable terms. While we consider these
assumptions to be reasonable based on information currently available to
us, they may prove to be incorrect. Actual results may vary from such
forward-looking information for a variety of reasons, including but not
limited to risks and uncertainties disclosed in other Anatolia filings at
www.sedar.com and other unforeseen events or circumstances. Other than as
required by law, Anatolia does not intend, and undertakes no obligation
to update any forward looking information to reflect, among other things,
new information or futures events.
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