Payment permits Rio Tinto to continue its earn-in to Kizilviran, Sin and other prospective copper-gold porphyry target EVERGREEN, CO, April 27 /CNW/ - Anatolia Minerals Development Limited (TSX: ANO; "Anatolia") is pleased to announce that Rio Tinto Mining and Exploration Limited has made a US$250,000 payment to Anatolia as part of their earn-in requirements for the Tunceli JEA. By making this payment, Rio Tinto maintains its right to earn a 66.67% interest in the Tunceli JEA and may vest its interest by fulfilling additional requirements by April 2008. The Tunceli JEA is located in eastern Turkey and includes Kizilviran, Sin and several other prospective copper-gold porphyry targets. Richard C. Moores, President of Anatolia commented: "We are pleased that Rio Tinto is opting to continue its earn-in for Tunceli. We hope to have final assay results for the just-completed drilling program at Kizilviran within a few weeks. The joint venture plans to review all the results from this campaign to help us focus future work programs. There are numerous targets in the Tunceli JEA that remain untested." Anatolia has been engaged in minerals exploration in Turkey since 1996. In January 2004, Anatolia obtained 100% interest in the Copler Gold Project. 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 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 project costs in which Rio Tinto is participating, and portions of Anatolia's Turkish field office expenses. Anatolia currently has 49.5 million common shares issued and outstanding, 57.7 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. Assays are performed by OMAC Laboratories, Ireland, and ALS-Chemex, Vancouver, BC, Canada, 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.
Translate
















