Anglo Minerals Ltd.

Anglo Minerals Ltd.

April 16, 2007 08:00 ET

Anglo Appoints V.P. Business Development and Investor Relations

CALGARY, ALBERTA--(CCNMatthews - April 16, 2007) - Anglo Minerals Ltd. (TSX VENTURE:ALM) ("Anglo" or the "Corporation") is pleased to announce that Mr. Corey Giasson has been appointed as Vice President, Business Development and Investor Relations, effective May 1, 2007. Mr. Giasson was previously employed by the world's largest potash producer in Saskatoon, Saskatchewan, where he held the title of Manager, Market Research. Mr. Giasson received his MBA from the University of Saskatchewan, where he also received a B.Sc. in Agriculture Economics. Prior to completing his MBA, Mr. Giasson was employed for three years as a business analyst at an accounting and business advisory firm where he assisted in consulting primary and secondary agriculture producers. Mr. Giasson's appointment as an officer of Anglo is subject to regulatory approval.

Anglo holds a 25% interest in a potash joint venture (the "JV") in Saskatchewan with BHP Billiton Diamonds Inc. holding the other 75% interest and being the operator of the JV. The previously announced resources of the JV include indicated resources of 250 million tonnes of recoverable sylvinite grading 26.9% K2O in the upper Patience Lake Formation, 229 million tonnes grading 24.5% K2O in the lower Patience Lake Formation, and an inferred resource of 460 million tonnes grading 24.11% K2O in the Upper Belle Plaine Formation. These indicated and inferred resources are net of a 25% deduction for unidentified mining-level anomalies and the application of a 40% extraction ratio, and are qualified by the more detailed information and qualifications as set forth in Technical Reports filed by Anglo and available on the SEDAR website at The resources are located approximately 135 kilometers east of Saskatoon, Saskatchewan and in close proximity to an operating potash mine. The JV currently holds permits entitling it to explore for potash and covering in excess of 1 million acres of lands prospective for potash in Saskatchewan, the jurisdiction which accounts for more than 30% of the world's potash production.

Management of Anglo believes that demand or potash will continue to be strong and to increase in the near to medium term. Todd Montgomery, President of Anglo, stated "The United States is the largest consumer of energy in the world, and the U.S. federal government has made a conscious decision to try to increase the use of ethanol based fuels in an attempt to reduce dependence on foreign oil, provide security of supply and reduce greenhouse gas emissions. With ethanol produced in the United States being primarily derived from corn, we see the potential for considerable increases in the demand for fertilizer in general and potash in particular". Potash is typically a key component in the fertilizer used to enhance corn production in the mid-western United States. Approximately 90% of the potash used in the United States is imported, and Saskatchewan is strategically located to meet this demand. Management of Anglo also believes that increased demand for energy and food from the rapidly developing economies of China, India and Brazil also has the potential to positively affect the demand for potash.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Anglo Minerals Ltd.
    Todd Montgomery
    (403) 228-0607