Anatolia Minerals Development Limited

Anatolia Minerals Development Limited

November 14, 2007 08:00 ET

Power Line EIA Approved for Anatolia's Copler

Copler power line EIA approved by the Ministry of the Environment and Forestry. Copler Mine and Processing Facilities EIA in final stages of review.

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2007) - Anatolia Minerals Development Limited (TSX:ANO) ("Anatolia") is pleased to announce the Ministry of the Environment and Forestry has approved Anatolia's Environmental Impact Assessment (EIA) for construction of a +40-kilometer long, 154 kV power line between the main power substation at Demirdag and Anatolia's Copler gold project.

Sufficient power is available on site for construction of the mine and support facilities, but access to high voltage power is required for operation of the mine and processing facilities, planned for a mid-2009 start-up. The new line was designed to accommodate both the current oxide project and the future potential sulfide treatment facilities. Anatolia will be responsible for funding the power line (US$4.2 million), but land acquisition and construction will be overseen by TEIAS, the Turkish utility company. Cost of construction will be recovered by a reduction in Anatolia's base power rate. Land acquisition and construction activities on the power line are estimated to take 9 to 12 months.

Richard C. Moores, President of Anatolia, stated, "We are pleased with this positive step by the agencies involved for a key component of our Copler project. It is a clear demonstration that the system is working and that the regulatory authorities are diligently reviewing and approving properly supported projects. We are in the process of providing additionally requested engineering detail and documentation in support of the EIA for our proposed Copler oxide gold mine, currently under final review. Anatolia and the regulators are working closely together to finalize a comprehensive environmental impact assessment ensuring safe, environmentally-responsible operations and mine closure. Although we expect a positive decision shortly, we continue to work with the authorities and will take whatever time is necessary to convince ourselves that we have as complete a program as is achievable, before we initiate construction."

Anatolia has completed its 2007 exploration and infill drilling campaign and will post results following receipt of final assays.

Douglas Tobler, Chief Financial Officer, will be speaking on Thursday, November 15 at 2:40 p.m. (GMT) at the RBC 2007 Global Gold Mining Conference in London. There will be a live webcast of Mr. Tobler's presentation and it can be accessed at The slides which accompany the presentation will be available on Anatolia's website following the presentation.

Anatolia currently has 83.0 million common shares issued and outstanding, 98.7 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)