Anglo Minerals Ltd.

Anglo Minerals Ltd.

March 27, 2006 11:57 ET

Anglo Minerals Closes $787,500 Financing

CALGARY, ALBERTA--(CCNMatthews - March 27, 2006) - Anglo Minerals Ltd. (TSX VENTURE:ALM) is pleased to announce that the private placement previously announced by way of a press release dated January 20, 2006, has closed. Seven Hundred Fifty Thousand (750,000) common shares and Seven Hundred Fifty Thousand (750,000) "flow-through" common shares were issued at $0.50 and $0.55 per share, respectively, resulting in aggregate gross proceeds to Anglo of Seven Hundred Eighty Seven Thousand Five Hundred Dollars ($787,500.00). Union Securities Ltd. acted as agent in connection with the offering. The issued shares are subject to a four-month hold period which will expire on July 23, 2006.

Proceeds of the offering will be used to fund the winter 3-D seismic program to be completed on Anglo's Jansen Lake potash project and for general working capital.

Anglo will renounce Canadian Exploration Expenses and Flow-Through Mining Expenditures to subscribers who purchased "flow-through" common shares. Such subscribers will be entitled to claim deductions for income tax purposes in 2006.

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

Contact Information

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