TORONTO, Jan. 31 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") [TSX: ANO] announces the commencement of a new drilling program at its Çöpler Gold Mine in Turkey. The objective of the program is to drill for the extensions of previously intersected high grade gold mineralization and additional sulphide and oxide targets, mainly outside the pit boundaries and at depth. The initial drill plan includes approximately 15,000 total meters of diamond core and reverse-circulation drilling.

Edward Dowling, President and CEO of Anatolia stated, "We have a number of excellent targets identified. Now that first gold pour is behind us and gold production at Çöpler is ramping up, we feel confident that additional drilling will add ounces to both our oxide and sulfide resources. We are excited to have the drills turning again and believe this to be the first in a series of new drilling programs at Çöpler and elsewhere."

About Anatolia

Anatolia is recognized as a leader in exploration and development in Turkey and, with the start-up of Çöpler, will soon be among Turkey's leading gold producers. Çöpler is 95% owned by Anatolia and 5% by Lidya Mining (formerly known as Çalık Mining, see News Release, August 13, 2009). Initial plans at Çöpler are to produce approximately 1.3 million ounces of gold at below the industry's average cost. Annual gold production is expected to be approximately 175,000 ounces. Additional production expansion of the oxide and sulfide gold resource is expected at Çöpler by continuing exploitation of the large resource and through on-going technical studies and future development. In addition, Anatolia holds a significant pipeline of prospective gold and base metal projects.

Anatolia anticipates completing a merger of equals with Avoca Resources Limited by mid-February 2010. The combined entity, to be named Alacer Gold, will hold an attractive portfolio of large, long-life operating mines, with strong value, enhancement and production growth prospects, underpinned by sound development projects and exploration projects, led by a highly complementary management team. The merger will generate extensive asset and geographic diversification benefits for shareholders through multiple cash flow streams expected from future production at four operations in two countries. Alacer Gold is expected to become a leading global intermediate gold producer with greater resources available to enhance its production, mineral resource base and exploration potential. Alacer Gold will also enjoy an enhanced market presence as a result of being listed on both the Toronto Stock Exchange (the "TSX") and the Australian Securities Exchange (the "ASX"), increasing access to global capital markets to assist with future growth ambitions.

Anatolia currently has 139.3 million common shares issued and outstanding, 157.9 million fully diluted. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."

Cautionary Statements

Except for statements of historical fact relating to Anatolia, 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", "targeted", "possible", "continue", "objective" 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 the completion of the Merger in accordance with the terms and conditions of the merger implementation deed dated September 8, 2010 (the "Merger Agreement") between Anatolia and Avoca (including the satisfaction of the requisite conditions and approvals contained in the Merger Agreement), commodity prices, access to sufficient capital resources, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, results of exploration activities, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, the timing of cash flows, capital and operating expenditures, the timing of receipt of permits, rights and authorizations, communications with local stakeholders and community relations, employee relations, settlement of disputes, status of negotiations of joint ventures, availability of financing and any and all other timing, development, operational, financial, economic, legal, regulatory and 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 of Anatolia's public filings, and include the completion of the merger between Anatolia and Avoca in accordance with the terms and conditions of the Merger Agreement, the ultimate determination of mineral reserves, availability and final receipt of required approvals, licenses and permits, ability to acquire necessary surface rights, sufficient working capital to develop and operate the proposed mine, access to adequate services and supplies, economic conditions, commodity prices, foreign currency exchange rates, interest rates, access to capital and debt markets and associated cost of funds, availability of a qualified work force, positive employee relations, lack of social opposition and legal challenges, ability to settle disputes, and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While Anatolia considers these assumptions to be reasonable based on information currently available to it, 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 Forward-looking statements are based upon management's beliefs, estimate and opinions on the date the statements are made and, 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 future events.

SOURCE Anatolia Minerals Development Limited

For further information:

Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit

Profil de l'entreprise

Anatolia Minerals Development Limited

Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.