| Anatolia Minerals |
Press Release | |
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ANATOLIA MANDATES LEAD ARRANGER FOR SENIOR PROJECT FINANCING OF ��PLER GOLD PROJECT
UniCredit to arrange and underwrite US$70 million credit facility
August 25, 2008: Anatolia Minerals Development Limited ("Anatolia" or the "Company") [TSX: ANO] today announces Bayerische Hypo- und Vereinsbank AG, a member of UniCredit Group ("UniCredit"), has been mandated to act as lead arranger and underwriter for a US$70 million senior project debt facility (the "Facility").
Proceeds from the Facility will complete Anatolia's external funding needs for Phase 1 development of the Company's 100%-owned ��pler Gold Project ("��pler") in east-central Turkey. Facility documentation is substantially complete; proceeds will be available following satisfactory due diligence, final credit approval and customary conditions precedent prior to drawdown. Remaining capital requirements for Phase 1 will be funded from existing working capital.
Edward Dowling, President and CEO of Anatolia stated, "The Facility with UniCredit will provide the remaining project financing needed to complete Phase 1. This is an important milestone for the development of the mine at ��pler. Going forward, we'll top up our working capital as needed to support our growth strategy, but the Company's flexibility is now much improved."
UniCredit Group is one of Europe's largest financial institutions. For 20 years HVB, as part of the UniCredit Group, has been an active finance house catering to the needs of its diverse and broad client base. With highly experienced industry specialists and regional coverage the Group is well positioned to provide solutions for its mining customers.
About Anatolia
Anatolia Minerals is a leader among exploration and development companies in Turkey, pursuing a disciplined strategy for growth through resource discovery and development. The Company's 100%-owned ��pler Gold Project is among Turkey's largest undeveloped gold deposits. 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.
Anatolia currently has 83.1 million common shares issued and outstanding, 100.5 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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