Anatolia Minerals Development Limited
TSX : ANO

Anatolia Minerals Development Limited

January 18, 2007 12:06 ET

Anatolia Minerals Development Limited: Copler Oxide M&I Gold Up 33%; Inferred at 1.3 MM ozs

Drilling and New Mine Plan Grow Measured & Indicated Oxides to 2.4 Million ozs.; Inferred Oxides rise to 1.3 Million ozs. Recoverable Oxide Gold up 400,000 ozs. to 1.8 Million ozs., with 969,000 ozs. Gold Produced in First 4 Years

TORONTO, ONTARIO--(CCNMatthews - Jan. 18, 2007) - Anatolia Minerals Development Limited (TSX:ANO)("Anatolia") has received an updated mine plan and estimate of direct-leachable ("oxide") gold resources for its Copler gold deposit. The study by Independent Mining Consultants (IMC), of Tucson, Arizona, estimates Proven and Probable in-pit oxide reserves at 18.1 million tonnes of mill-feed at 2.61 (gpt) gold, plus 34.2 million tonnes heap-leach at 1.16 gpt gold, aggregating 2.8 million ozs. gold (65 % Proven). Measured and Indicated ("M&I") oxide resources total 60.9 million tonnes averaging 1.23 grams per tonne ("gpt") gold (2.4 million ozs. gold) (Measured 63%). Inferred oxide resources total 29.3 million tonnes at 1.34 gpt gold, (1.3 million ozs. gold). See table below.

The new mine plan leaves some 430,000 ounces of M&I oxide and 1.2 million ozs of Inferred oxide unmined, but does envision processing sulfides that must be removed to get at oxide ore and from which we can profitably recover gold. An ongoing drill program is underway to more fully define the sulfides, and will be the subject of another update focusing on sulfide gold, later this year.

Copler's overall (oxide plus sulfide, including all reserves) M&I resource totals 84.5 million tonnes at 1.45 gpt gold (3.9 million ozs.) (Measured 52%). In addition, an Inferred resource of 43.6 million tonnes at 1.72 gpt gold (2.4 million ozs. gold) was defined. This compares to 3.8 million ozs. of M&I (Measured 55%) and 1.6 million ozs. of Inferred reported last year.

The update follows a fill-in drilling campaign completed in early 2006 and a revised, optimized mining plan. Permitting, staff-building, detailed engineering and further optimization studies continue. Andrew Kaczmarek, V.P. Mine Development and Copler General Manager, is coordinating with SNC Lavalin, the EPCM contractor and several other North American and Turkish engineering firms for developing Copler's oxides.

Said Dick Moores, Anatolia's CEO, "Nearly doubling global oxide resources is welcome news. Increasing recoverable gold by 30% (400,000 ozs.), and producing nearly 1 million ounces in the first 4 years versus 726,000 in the feasibility study (Samuel Engineering June, 2006) should have a strong positive impact on the excellent economics previously reported. This is particularly important, since we anticipate lower cost ounces in the first 4 years, and higher cost ounces in the latter years of the mine. The new plan forecasts an average 176,000 ozs. gold annually for a full 10 years versus an average 160,000 ozs. gold for 8 1/2 years used in the feasibility study. IMC's comprehensive review ensures Measured and Indicated resources met basic criteria for economic extraction and are contained in a preliminary pit based on a $475/oz. gold price. Our geologists continue to work to further expand the gold resource at and around Copler."



A summary of the recently completed IMC resource estimate for
Copler follows:

Anatolia Minerals Development Limited
Copler Project, Mineral Reserves and Mineral Resources
Based on $475/oz Gold and $8.00/oz Silver
12, 2007

---------------------------------------------------------------------------
Mineral Reserves, 5 January
---------------------------------------------------------------------------
Proven Probable
---------------------------------------------------
Process Cateogry Gold Silver Gold Silver
Ktonnes gm/t gm/t Ktonnes gm/t gm/t
---------------------------------------------------------------------------
Total Mill Ore 12,557 2.762 8.65 5,565 2.261 1.45

Total Leach Ore 19,871 1.093 2.97 14,308 1.255 3.76
---------------------------------------------------------------------------

Total Mineral Reserves 32,428 1.739 5.17 19,873 1.536 3.12
---------------------------------------------------------------------------


-------------------------------------------------------------
Mineral Reserves, 5 January
-------------------------------------------------------------
Proven + Probable Note:
-------------------------------------
Process Cateogry Gold Silver Recovered Contained
Ktonnes gm/t gm/t Au KOzs Au KOzs
-------------------------------------------------------------
Total Mill Ore 18,122 2.608 6.44 1,161 1,520

Total Leach Ore 34,179 1.161 3.30 597 1.276
-------------------------------------------------------------

Total Mineral Reserves 52,301 1.662 4.39 1,758(i) 2,796
-------------------------------------------------------------



---------------------------------------------------------------------------
Mineral Resources in Addition to Reserves, Assumes the Presence of a
Sufide Process Facility
---------------------------------------------------------------------------
Measured Indicated
---------------------------------------------------
Material Type Gold Silver Gold Silver
Ktonnes gm/t gm/t Ktonnes gm/t gm/t
---------------------------------------------------------------------------
Remaining Oxide Resource 8,819 0.493 1.23 10,484 0.854 1.10

Remaining Sulfide
Resource 3,087 1.622 6.13 9,769 1.716 7.17
---------------------------------------------------------------------------

Total Mineral Resources 11,906 0.785 2.50 20,253 1.270 4.03
---------------------------------------------------------------------------


---------------------------------------------------------------------------
Mineral Resources in Addition to Reserves, Assumes the Presence of a
Sufide Process Facility
---------------------------------------------------------------------------
Measured + Indicated Inferred
---------------------------------------------------------------------------
Material Type Gold Silver Contained Gold Silver Contained
Ktonnes gm/t gm/t Au KOzs Ktonnes gm/t gm/t Au KOzs
---------------------------------------------------------------------------
Remaining
Oxide
Resource 19,303 0.689 1.16 428 29,331 1.336 2.07 1,260

Remaining
Sulfide
Resource 12,856 1.694 6.92 700 14,272 2.493 5.31 1,144
---------------------------------------------------------------------------

Total Mineral
Resources 32,159 1.090 3.46 1,128 43,603 1.715 3.13 2,404
---------------------------------------------------------------------------

(i)Plus an estimated 76,000 ozs. recoverable during heap reclamation act


Anatolia Minerals Development Limited

The resource estimate prepared by IMC reflects metallurgical test-work performed by Research Development Inc (RDi) of Denver, Colorado. Recoveries for oxide ores used are consistent with those used in the feasibility study.

Anatolia currently has 78.4 million common shares issued and outstanding, 85.6 million fully diluted. Anatolia trades on the Toronto Stock Exchange as ANO.

This news release may contain forward-looking statements in respect of various matters including upcoming work programs and events. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Anatolia disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Assays are performed by OMAC Laboratories, Ireland, and ALS-Chemex, Vancouver, BC, Canada, with quality control of sampling, preparation and assaying overseen by Anatolia, whose President, Richard C. Moores, is a "qualified person" for the purposes of applicable Canadian securities regulations. The Independent Qualified Person responsible for the above resource estimates is John M. Marek, P.E., President of IMC. A Technical Report prepared to NI43-101 requirements will be lodged within 45 days of this Release.

Contact Information

  • Anatolia Minerals Development Limited
    Richard C. Moores
    President
    (303) 670-9945
    (303) 670-9947 (FAX)
    or
    Anatolia Minerals Development Limited
    Douglas Tobler
    Chief Financial Officer
    (303) 292-1299
    (303) 297-0538 (FAX)
    Website:www.anatolia-minerals.com