TORONTO, June 15 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO) announces it has received titles or swap agreements to all private land within the Life-of-Mine footprint for the Phase I Oxide Project at its Çopler Gold Mine in Eastern Turkey.
The Company has legally binding swap agreements with thirty-three households in the Çopler village for homes in a new village to be constructed north of the mine site. Common lands owned by the Çopler Village legal entity will be traded on an in-kind basis for land and public facilities in the new village. Construction on the new village is expected to start in June.
Edward Dowling, President and CEO of Anatolia stated, "The transfer of this title concludes an extensive effort between the Company and the Çopler residents to acquire the lands required for the Çopler Mine while providing for the continued well being of the Çopler village and its residents. We are very pleased to have reached this milestone with the villagers in a fair and equitable manner that provides improved quality of life while respecting local heritage for current and future generations of Çopler residents."
Anatolia, recognized as a leader in exploration and development in Turkey, is developing Çopler. Çopler is 95% owned by Anatolia and 5% by Çalik Mining (see News Release, August 13, 2009). Initial plans are to produce approximately 1.3 million ounces of gold at a cash cost of about US$300 per ounce. The first gold pour at Çopler is expected in 2010 with full production to average about 175,000 ounces of gold per year after ramp up. Additional production expansion of the oxide and sulfide gold resource is expected at Çopler by taking advantage of the inherent large resource through on-going technical activities. In addition, Anatolia holds a significant pipeline of prospective gold and base metal projects.
Anatolia currently has 138.8 million common shares issued and outstanding, 157.8 million fully diluted. For more information please contact Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."
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 proposed exploration, communications with local stakeholders and community relations, status of negotiations of joint ventures, 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, economic conditions, availability of sufficient financing, exploration plans and any and all other timing, exploration, development, operational, financial, economic, legal, social, 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 exploration results and the ability to explore, the ultimate determination of mineral reserves, availability and final receipt of required approvals, titles, 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, ability to negotiate, finalize and execute relevant agreements, lack of social opposition to the mine, lack of legal challenges with respect to the property or the Company 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 future events.
SOURCE Alacer Gold Corp.
For further information: For further information: Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com