TORONTO, June 11 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX: ANO) is pleased to announce the addition of Howard Stevenson as Vice President Corporate Development. Mr. Stevenson will join the Company on June 19, 2009.
Mr. Stevenson brings over 20 years of experience in engineering, operations, mineral economics, financial evaluation and mergers and acquisitions, 18 years of which were spent with Gold Fields Limited working on various international projects. Most recently, he worked at Meridian Gold Company as Vice President of Business Development. Mr. Stevenson holds a BA BAI with Honors in Mechanical Engineering from the University of Dublin, Trinity College and an MBA from TRIUM a joint program of New York University Stern School of Business, the London School of Economics, and HEC School of Management, Paris.
Edward Dowling, President and CEO of Anatolia stated, "I am excited to add someone with Howard's experience, qualifications and proven expertise to our existing management team. He comes to us at the ideal time, as corporate activity is accelerating. With Copler now advancing towards production, Howard will be an integral part of our disciplined value growth strategy."
Anatolia Minerals, recognized as a leader in exploration and development in Turkey, is developing its Copler Gold Project. Initial plans are to produce approximately 1.3 million ounces of gold at a cash cost of about $260 per ounce. The first gold pour at Copler is expected in 2010 with full production of about 175,000 ounces of gold per year anticipated in 2011. Additional production expansion of the oxide and sulfide gold resource is expected at Copler by taking advantage of the inherent large resource through on-going technical activities. In addition, Anatolia holds a significant pipeline of prospective gold and base metal projects.
Anatolia currently has 114.7 million common shares issued and outstanding, 133.4 million fully diluted. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol ANO.
Certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in Anatolia's public filings, Anatolia's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, capital and operating expenditures, economic conditions, availability of sufficient financing, and any and all other timing, development, operational, financial, economic, legal, regulatory, political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other Anatolia filings, and include the ultimate determination of mineral reserves, availability and final receipt of required approvals, titles, licenses and permits, sufficient working capital to develop and operate the proposed mine, access to adequate services and supplies, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and associated cost of funds, availability of a qualified work force, lack of social opposition to the mine, and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Anatolia filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, Anatolia does not intend, and undertakes no obligation to update any forward looking information to reflect, among other things, new information or futures events.