Anatolia Minerals Development Limited

Anatolia Minerals Development Limited

February 24, 2005 08:00 ET

Anatolia Updates Drilling at Rio Tinto Joint Ventured Kizilviran Copper Porphyry Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ANATOLIA MINERALS DEVELOPMENT LIMITED

TSX SYMBOL: ANO

FEBRUARY 24, 2005 - 08:00 ET

Anatolia Updates Drilling at Rio Tinto Joint Ventured
Kizilviran Copper Porphyry Project

TORONTO, ONTARIO--(CCNMatthews - Feb. 24, 2005) -

Drilling intersects enriched blanket along the Main Ridge, highlighted
by 57 meters averaging 1.03% copper and 0.17 grams gold per tonne,
including 1.38% copper in 29 meter enriched blanket.

In November 2004, Anatolia Minerals Development Limited (TSX:ANO)
("Anatolia") and Rio Tinto initiated a multiple rig drilling program at
Kizilviran (part of the Tunceli joint exploration area ("JEA")) in
eastern Turkey. The reverse circulation ("RC") drilling phase of the
current program is now complete; diamond drilling is ongoing. To date,
there has been 1,745 meters of diamond drilling in 8 holes, including
the four holes drilled by the joint venture in previous programs. In the
current phase of drilling, one hole to 458 meters is complete and three
others are in progress. RC drilling in this current phase includes 2,543
meters in 18 holes. Five additional extension diamond drill holes are
planned. Drilling of this copper porphyry exploration project is being
carried out along the Main Ridge Zone where previous drilling by the
joint venture intersected the chalcocite enriched blanket in 2 widely
spaced holes. In addition, several locations along the outer fringes of
the currently mapped system were drill tested.

The table below summarizes initial results available to date from the
Main Ridge Zone drill holes, including KIZ-001, KIZ-002, KIZ-002A and
KIZ-003 which were drilled by the joint venture in earlier programs.
Also attached is a map that indicates the locations of the holes. This
map is posted to Anatolia's web site (www.anatolia-minerals.com).



MAIN RIDGE DRILL HOLES

Drill Drill Total From To Intercept Cu Au Mo
Hole Type Depth (Meters) (Meters) (Meters) (%) Gpt (Ppm)

KIZ
-001 Diamond 594.0 0.0 13.8 13.8 0.04 0.25 18
13.8 594.0 580.2 0.39 0.14 52

KIZ
-002 Diamond 14.4 0.0 14.4 Hole Lost

KIZ
-002A Diamond 144.80 0.0 26.6 26.6 0.04 0.13 54
26.6 144.8 118.2 0.63 0.19 64
Including 26.6 74.0 47.4 0.99 0.28 68

KIZ
-003 Diamond 19.6 0.0 19.6 Hole Lost

KIZ
-004 Diamond 458.2 0.0 26.4 26.4 0.02 0.17 66
26.4 103.0 76.6 0.82 0.22 63
103.0 202.0 99.0 0.50 0.20 27
202.0 243.0 41.0 0.26 0.21 10
243.0 458.2 215.2 Results Pending



MAIN RIDGE DRILL HOLES

Drill Drill Total From To Intercept Cu Au Mo
Hole Type Depth (Meters) (Meters) (Meters) (%) Gpt (Ppm)

KRC
-001 RC 135.0 1.0 17.0 16.0 0.10 0.04 48
17.0 20.0 3.0 0.95 0.04 57
20.0 46.0 26.0 0.11 0.01 15
46.0 91.0 45.0 0.23 0.03 37
91.0 135.0 44.0 0.51 0.06 58
Including 117.0 135.0 18.0 0.68 0.07 85

KRC
-002 RC 178.0 0.0 38.0 38.0 0.01 0.03 36
38.0 147.0 109.0 0.24 0.04 65
less
than
147.0 178.0 31.0 0.04 0.01 12

KRC
-003 RC 154.0 0.0 10.0 10.0 0.05 0.10 50
10.0 14.0 4.0 0.60 0.15 34
14.0 34.0 20.0 0.12 0.17 50
34.0 91.0 57.0(1) 1.03 0.17 60
Including 44.0 73.0 29.0 1.38 0.16 66
91.0 96.0 5.0 Results Pending
96.0 154.0 58.0(2) 0.39 0.17 115

less
KRC than
-004 RC 123.0 0.0 123.0 123.0 0.01 0.01 2

KRC
-010 RC 189.5 0.0 24.0 24.0 0.11 Au 32
24.0 131.0 107.0 0.21 Results 30
131.0 189.5 58.5 0.12 Pending 43

(1) Includes 3 meters for which results are pending.
(2) Includes 5 meters for which results are pending.


The highest grade intersection to date was returned in KRC-003, drilled
between KIZ-001 and KIZ-002A, 450 meters southeast of KIZ-001. At 44
meters, after passing through a shallow leached cap and 34 meters of
lower grade mineralization, KRC-003 intersected the enriched blanket in
a 57 meter interval averaging 1.03% copper, 0.17 grams gold per gold
(gpt) and 60 ppm molybdenum, including a 29 meter interval averaging
1.38% copper, 0.16 gpt gold and 66 ppm molybdenum. " KRC-003 is a very
important hole for us. Not only are the grades outstanding, but its
location between the 750 meter interval of KIZ-001 and KIZ-002A gives us
encouragement that we'll be able to establish continuity of the enriched
blanket along the Main Ridge," commented Richard C. Moores, President of
Anatolia.

Additionally, KRC-001, at the northern extent of the Main Ridge, extends
the known mineralization an additional 425 meters to the northwest of
KIZ-001. At a depth of 17 meters, KRC-001 intersected 3 meters averaging
0.95% copper, 0.04 gpt gold and 57 ppm molybdenum. Following an interval
of low grade mineralization and starting at 91 meters, 44 meters
averaging 0.51% copper, 0.06 gpt gold and 58 ppm molybdenum was
intersected, including 18 meters averaging 0.68% copper, 0.07 gpt gold
and 85 ppm molybdenum.

Mr. Moores noted, "With KRC-001, we've now established the presences of
good mineralization in 4 drill holes along 1.2 kilometers of the Main
Ridge Zone. All 4 holes intersected the chalcocite enriched blanket and
show promising grades and intervals in the primary mineralization." He
added, "Much more drilling will be needed, but we're pleased with this
early success along the Main Ridge."

Five other holes were drilled to test several soil geochemical anomalies
along the outer fringes of the system. These exploratory holes include
KRC-005 through KRC-009, which were drilled up to 1.5 kilometers west of
KIZ-001. The Fringe Zone drill holes generally returned no significant
results. Mr. Moores commented on the Fringe Zone holes by saying, "
These holes help us define the potential extent of the system. We're not
at all surprised by the results, and they clearly don't detract from the
success we're seeing on the Main Ridge."

Anatolia has been engaged in minerals exploration in Turkey since 1996.
In January 2004, Anatolia obtained 100% interest in the 4-million ounce
inferred gold resource at Copler. Anatolia is fast-tracking work at
Copler to achieve an early production decision for an open pit gold
operation for the shallow leachable oxide portion of Copler. The Company
also 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 49.0 million common shares issued and
outstanding, 57.7 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. Assays are
performed by OMAC Laboratories, Ireland 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.

NOTE: A map of the Kizilviran Drill Plan can be viewed by clicking on
the following link:
http://www2.ccnmatthews.com/database/fax/2000/DrillPlan.doc

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    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)
    www.anatolia-minerals.com