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Anatolia Announces First Gold Pour at ��pler Gold Mine
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: Anatolia Minerals Development is pleased to announce the first gold pour at
the ��pler Gold Mine on December 22, 2010. Gold
production is expected
to ramp-up over the next quarter as more run-of-mine ore is treated,
and the crushing and stacking systems are brought on-line. Commercial
production, defined as sustaining 80 percent of nameplate production
through the crushing and stacking systems, is expected during mid-year
2011, with ramp-up to full production level continuing throughout the
remainder of the year. Currently, there are 171,000 tonnes
of
run-of-mine ore averaging 2.30 grams of gold per metric tonne
(g/t)
stockpiled in front of the crushing systems and 1.35 million tonnes of
run-of-mine ore averaging 1.07 g/t Au stacked on the heap leach pad.
Edward Dowling, President and CEO of Anatolia stated, "This is a
historic day for Anatolia Minerals as the transition from an explorer
to a gold producer is now complete and production is ramping-up. We are
especially appreciative of all of our stakeholders, whose commitment,
hard work and assistance have made this success possible. With strong
anticipated cash flows to underpin future development, we look forward
to taking advantage of the exceptional asset base at ��pler
and
responsibly advancing other exciting projects to produce value creating
growth for our stakeholders, and helping to establish Turkey as a
leader in the mining world."
About Anatolia
Anatolia is recognized as a leader in exploration and development in
Turkey and, with the start-up of ��pler, will soon be
among Turkey's
leading gold producers. ��pler is 95% owned by
Anatolia and 5% by Lidya
Mining (formerly known as �alık Mining, see News Release, August
13, 2009). Initial plans at ��pler are to produce
approximately 1.3
million ounces of gold at costs consistent with the lower end of
industry standards. Average annual production is expected to be about
175,000 gold ounces. Additional production expansion of the oxide and
sulfide gold resource is expected at ��pler 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 139.1 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."
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
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, 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
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, lack of social
opposition and legal challenges, 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 www.sedar.com.
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.