Anatolia Minerals Development Limited

Anatolia Minerals Development Limited

November 03, 2005 17:03 ET

Anatolia Closes C$15 Million Financing

TORONTO, ONTARIO--(CCNMatthews - Nov. 3, 2005) -


Issues 7,894,800 units at C$1.90 per unit, consisting of one common share and one-half of one common share purchase warrant at C$2.65 for 24 months.

Anatolia Minerals Development Limited ("Anatolia")(TSX:ANO) announced today the closing of its previously announced private placement. The financing included 7,894,800 Units at C$1.90 per Unit. Gross proceeds totaled C$15,000,120. The syndicate of underwriters was led by Desjardins Securities Inc. and included Dundee Securities Corporation and National Bank Financial Inc.

Net proceeds of the offering will be used to fund the final feasibility study and initial development capital expenditures for the Copler Gold Project in Turkey as well as for general working capital purposes.

The securities being offered have not, nor will be registered under United States Securities Act of 1933, as amended and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

About Anatolia Minerals Development Limited

Anatolia has been engaged in minerals exploration in Turkey since 1996. In January 2004, Anatolia increased to 100% its interest in the 4-million ounce inferred gold resource at Copler. Anatolia recently upgraded 3.8 million ounces to the measured and indicated categories and outlined an additional 1.6 million ounce inferred resource. Anatolia is advancing work at Copler to achieve a production decision by first quarter 2006 for an open pit gold operation for the shallow leachable oxide portion of Copler. The Company controls approximately 1.1 million hectares within Turkey, including four properties currently under joint exploration with Rio Tinto. The Rio Tinto agreement continues through 2007 and requires payment by Rio Tinto of expenditures for grassroots programs, specific prospect costs in which Rio Tinto is participating, and portions of Anatolia's Turkish field office expenses. Anatolia currently has 57.5 million common shares issued and outstanding, 69.7 million fully diluted.

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.

Contact Information

  • Anatolia Minerals Development Limited
    Richard C. Moores
    (303) 670-9945
    (303) 670-9947 (FAX)
    Anatolia Minerals Development Limited
    Douglas Tobler
    Chief Financial Officer
    (303) 292-1299
    (303) 297-0538 (FAX)