Anatolia Minerals Development Limited

Anatolia Minerals Development Limited

February 20, 2008 13:43 ET

Anatolia Minerals Appoints Edward C. Dowling Jr. as New President and Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2008) - Anatolia Minerals Development Limited ("Anatolia") (TSX:ANO) is pleased to announce that Edward C. Dowling, Jr., has been appointed President and Chief Executive Officer. Mr. Dowling will join Anatolia on April 1, 2008 and will assume a seat on the board of directors.

Timothy J. Haddon, Chairman, commented, "Ed Dowling brings tremendous talent and experience to Anatolia. His proven technical skills and effective management style are an ideal fit with Anatolia as we work to bring the Copler Gold Project into production, as well as aggressively grow the company through continued exploration. Upon joining us, Ed will assume immediate responsibility for all development, exploration and corporate affairs."

Mr. Dowling joins Anatolia after a successful tenure as CEO and President of Meridian Gold Inc., which was recently acquired by Yamana Gold Inc. As part of the strategy implemented under Dowling's tenure at Meridian, the company discovered new and significantly extended existing reserves and resources, completed growth projects on-time and on-budget, initiated new growth projects, lowered operating costs and consistently recorded record financial results. In addition to Meridian Gold, Mr. Dowling's leadership roles include: De Beers, Johannesburg, South Africa, as Executive Director, Mining and Exploration; Cleveland-Cliffs as Executive Vice-President - Operations; and Cyprus Amax Minerals Company in various leadership capacities. Mr. Dowling holds a Bachelor of Science in Mining Engineering as well as a Master of Science and a Doctor of Philosophy in Mineral Processing, all granted from the Pennsylvania State University. Mr. Dowling is recognized in the industry for his ability to assemble and motivate teams of people to tackle and deliver challenging projects for creation of long-term value.

Mr. Dowling noted, "I am very excited to join the Anatolia team as it enters this very exciting stage in its development. I also look forward to continuing its history as a successful exploration story and working to leverage Anatolia's position as one of Turkey's leading exploration companies."

About Anatolia

Anatolia is developing its 100%-owned Copler Gold Project in Turkey. The current phase of development anticipates mining the open-pittable oxide portion of the deposit over a 10-year period, producing 1.8 million ounces gold and 2.2 million ounces silver. Additionally, Anatolia is among Turkey's leading minerals exploration companies, targeting numerous potentially large-scale base metals and gold opportunities.

Anatolia currently has 83.1 million common shares issued and outstanding, 99.4 million fully diluted.

Anatolia trades on the Toronto Stock Exchange as ANO.

Cautionary Statements

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", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on a number of material factors and assumptions such as the ultimate determination of mineral reserves, availability of required approvals, licenses and permits, sufficient working capital to develop and operate the proposed mine, access to adequate services and supplies, availability of a qualified work force, and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While we consider these assumptions to be reasonable based on information currently available to us, 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 and other unforeseen events or circumstances.

Contact Information

  • Anatolia Minerals Development Limited
    Timothy Haddon
    (303) 292-1299
    Anatolia Minerals Development Limited
    Douglas Tobler
    Chief Financial Officer
    (303) 292-1299