Anatolia Minerals Development Limited

Anatolia Minerals Development Limited

March 16, 2007 13:36 ET

Anatolia Confirms Rio Tinto Sale of Shares

Rio Tinto sold its remaining 4 million common shares of Anatolia; exploration joint venture continues on four prospects. Anatolia anticipates transaction will improve liquidity and provide greater exposure to institutional shareholders.

TORONTO, ONTARIO--(CCNMatthews - March 16, 2007) - Anatolia Minerals Development Limited (TSX:ANO) ("Anatolia" or the "Company") confirms that Rio Tinto sold its remaining 4 million common shares of Anatolia. The transaction occurred March 14, 2007.

These 4 million common shares were issued to Rio Tinto in 2004 in exchange for all Rio Tinto rights and interests in the Company's Copler Gold Project. These shares were subject to a right a first placement by Anatolia. The Company waived this right after receiving an undertaking that these shares would not be sold to any mining company, affiliates of any mining company, or person acting on behalf of such companies.

Richard C. Moores II, Anatolia's President and CEO stated, "We are extremely pleased with the way this transaction unfolded. We had strong indications of demand in the market, and Rio Tinto and the broker were supportive by placing these shares in the hands of institutional holders. We believe this is a positive market event because these shares should enhance our liquidity over time." He added, "We've been extremely successful with Copler since acquiring a 100% interest and we're pleased that Rio Tinto is now receiving value."

The exploration joint venture between Rio Tinto and Anatolia continues on four prospects in Turkey (see press release dated March 13, 2007).

Anatolia currently has 78.6 million common shares issued and outstanding, 85.7 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.

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)