ANATOLIA PROVIDES ��PLER GOLD PROJECT UPDATE
August 11, 2008: Anatolia Minerals Development Limited ("Anatolia" or the "Company") [TSX: ANO] announces an update of ongoing development activities to bring the ��pler Gold Mine into production. Advances have been made toward completing the permitting process and preparing to mobilize for construction. Management is targeting to begin construction mobilization during the third quarter 2008 and have first gold pour in late 2009. Production is expected to ramp up throughout 2010, with full production capacity achieved in 2011. Full details are available in the Company's Management Discussion and Analysis at www.sedar.com.
After receiving approval of the environmental impact assessment ("EIA") in April 2008, two additional significant permits remained open, namely the operating permit and forestry permit. The operating permit was received in May 2008. The package for the forestry permit was submitted in June 2008 and is progressing through a multi-jurisdictional review and approval process. Presently, the forestry permit is under final review at the Turkish Ministry of Environment and Forestry.
Concurrent with advancing the permits, management has been preparing to mobilize for construction. This pre-construction program has focused on detailed engineering design, procurement of equipment and services, infrastructure development and staffing. Engineering and procurement services are approximately 92% complete and the contractor is ramping up personnel in Turkey to provide construction management services. Deliveries of the crushers, screens and conveyors started during the first quarter 2008; all significant components are expected to be in Turkey by the end August 2008. Key services contracts are negotiated and can be implemented as soon as the Company is ready to mobilize for construction. Finally, required infrastructure is under construction and Anatolia has staffed key internal positions.
Edward Dowling stated, "We're positioned to mobilize shortly following receipt of the forestry permit. Once we receive this final permit, we'll do a final 'check' review of our resources and processes, and then announce our construction schedule. After a lot of hard work by a lot of professionals, the Company is at an inflection point in its history."
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.
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.