Press release from CNW Group
ANATOLIA ANNOUNCES FIRST GOLD POUR AT ÇÖPLER GOLD MINE
Wednesday, December 22, 2010
ANATOLIA ANNOUNCES FIRST GOLD POUR AT ÇÖPLER GOLD MINE09:00 EST Wednesday, December 22, 2010TORONTO, Dec. 22 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") [TSX: ANO] is pleased to announce the first gold pour at the Çöpler 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 Çöpler 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 AnatoliaAnatolia 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 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 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 139.1 million common shares issued and outstanding, 157.8 million fully diluted. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."Cautionary StatementsExcept 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.For further information: Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com.