Anglo Aluminum Corp.

Anglo Aluminum Corp.

June 15, 2010 15:53 ET

Anglo Aluminum Completes Bauxite Resource Drilling at Koumbia, Commences Bauxite Exploration Drilling at Mamou-Dalaba, Guinea

KAMLOOPS, BRITISH COLUMBIA--(Marketwire - June 15, 2010) - Anglo Aluminum Corp. (TSX VENTURE:ALU) ("Anglo") is pleased to announce that infill auger drilling has been completed on the Koumbia Bauxite Project in Guinea, West Africa. Anglo drilled 190 drill holes totalling 2,869 metres on the Kounsidji Plateau to facilitate the completion of an initial and comprehensive NI 43-101 resource estimate for the Koumbia Project. The auger drill is currently moving to Anglo's Mamou-Dalaba Bauxite Project, 190 kilometres to the southeast of Koumbia, to conduct initial exploratory drilling across 8 potentially bauxitic plateaus. Targets at Mamou-Dalaba were identified through interpretation of ASTER satellite imagery and follow-up site investigation.

Coffey Mining of Perth, Australia ("Coffey") is managing both drill programs on behalf of Anglo. Toumnyne SARL of Conakry, Guinea, is providing drill and support services. All drill samples are being submitted to SGS Mineral Services (Guinée) SARL for sample preparation and subsequent transfer to SGS Johannesburg for assay analysis by XRF. The Koumbia Bauxite Project encompasses the 130 km2 Gaoual exploration permit, located in the prolific Boke Bauxite Belt of Guinea. The Mamou-Dalaba Bauxite Project comprises 4 exploration permits covering 1,832 km2 in southwestern Guinea. Guinea is the world's largest exporter of bauxite. 

Koumbia Bauxite Project

Resource definition drilling targeted the Kounsidji Plateau, where 57 initial aircore drill holes all intersected between 3 metres and 17 metres of bauxite, averaging 11.46 metres, at a hole spacing of 300 metres (see Anglo Aluminum Corp. News Release, February 18, 2010). Weighted average grades for the 57 holes are 50.01% Al2O3, with relatively low silica (SiO2) at 2.07% and iron (Fe2O3) at 17.01%. Recently completed drilling totalled 2869 metres in 190 holes, infilling existing aircore drilling at a hole spacing of 150 metres, in advance of a NI 43-101 compliant resource estimate. Four auger drill holes twinned previous aircore drill holes. Shallow pits will supply samples for bulk density sampling. 

Koba Bauxite Project

A new NI 43-101 compliant resource estimate is planned for the Koba Bauxite Project. Since the initial resource estimate was completed in January 2009, over 6,000 additional samples from several plateaus, including Kouraidendeli, Sapi North and South, Tenkéré, Lakhorde, and Kounsitokhe, have been analyzed and added to the project database. Currently, Koba hosts NI 43-101 compliant Indicated Resources of 343,183,000 tonnes averaging 42.78% Al2O3, 2.85% SiO2, and 27.83% Fe2O3, and an additional 63,342,000 tonnes averaging 43.81% Al2O3, 2.74% SiO2, and 26.76% Fe2O3 classified as Inferred Resources. 

A preliminary economic assessment (PEA) is currently being organized for both of Anglo's flagship projects at Koba and Koumbia, Guinea. That study will investigate the economics of establishing mining operations at Koba and Koumbia, both for direct-shipping of bauxite to offshore refineries and on-site refinery options. The PEA will utilize the initial resource estimate for Koumbia and the updated resource estimate for Koba.

In 2007 and 2008, Anglo conducted property-wide drill testing of potentially bauxite-bearing plateaus on its Koba Bauxite Project, completing 2,147 drill holes totalling 36,759 metres in two phases of aircore drilling. Coffey managed the drill program on behalf of Anglo and West African Drilling Services ("WADS") provided drill services. All drill samples were submitted to SGS Mineral Services (Guinea) SARL for sample preparation and transferred to SGS Canada Inc. for assay analysis by XRF. 

The Koba Bauxite Project encompasses the 406 km2 Telimélé exploration permit, also located in the prolific Boke Bauxite Belt. Koba lies 40 kilometres south of Koumbia.

Mamou-Dalaba Bauxite Project

The Mamou-Dalaba bauxite property comprises 4 exploration permits covering 1,832 km2 in southwestern Guinea. Early in 2010, Anglo retained Coffey to complete a preliminary assessment of the project. First pass ASTER processing generated 150 targets with a combined surface area of approximately 181 km2. Coffey was able to visit 30 of these targets on the site visit. Of these, 14 targets with a combined surface area of 55 km2 were identified as having high-prospectivity for bauxite on the basis of field observations and unverified historical drill hole data referenced on the 1:200,000 Dalaba Geological Map Sheet.

Based on the high-prospectivity of these plateaus, Anglo is embarking on the current program to quickly confirm these bauxite targets through drill testing.

Anglo acquired the Mamou-Dalaba project through an agreement to purchase 100% of the issued share capital of Société Guinéenne de Fer et de Bauxite (SGFB), a local Guinean company that holds the 4 Mamou-Dalaba bauxite permits. SGFB also holds 14 base metal and 4 iron ore permits in the Beyla and Kankan areas, and 3 uranium permits in the Beyla area in south-eastern Guinea. Coffey Mining has completed an initial assessment on the Kankan-Beyla permits where no additional work is contemplated at this time.

Quality Control/Quality Assurance

Anglo Aluminum conducted a Quality Control / Quality Assurance program that consisted of inserting 5 different bauxite reference samples at a frequency of one in every 20 samples. Duplicate field samples were also collected every 20 samples, processed and analyzed in the same manner as the original and statistically analyzed. In addition, SGS employs their own internal quality control procedures.

Christopher J. Wild, P.Eng., Vice-President and Director of Anglo Aluminum., and a Qualified Person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

On behalf of the Board of Directors

Anglo Aluminum Corp.

Neither the TSX Venture Exchange nor any other regulatory body has approved or disapproved of the information contained therein.

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