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2010 European Gold Forum April 14 2010 April 14, 2010 Presented by: Edward C Dowling Jr Edward C. Dowling, Jr . President & CEO

2010 European Gold Forum April 14, 2010 · sulfide potential oxides 10 ... ÇÖPLERDrill Plan & Mineralization 22. ÇÖPLER Mn‐Mine Pit Drill Section L 63900N 31 m @ 2.65 g/t Au,

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Page 1: 2010 European Gold Forum April 14, 2010 · sulfide potential oxides 10 ... ÇÖPLERDrill Plan & Mineralization 22. ÇÖPLER Mn‐Mine Pit Drill Section L 63900N 31 m @ 2.65 g/t Au,

2010 European Gold ForumApril 14 2010April 14, 2010

Presented by:Edward C Dowling JrEdward C. Dowling, Jr.

President & CEO

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Cautionary Statementsy

FORWARD LOOKING STATEMENTSExcept for statements of historical fact relating to Anatolia, certain statements contained in this presentation constitute forward‐lookingExcept for statements of historical fact relating to Anatolia, certain statements contained in this presentation constitute forward lookinginformation, future oriented financial information, or financial outlooks (collectively "forward‐looking information") within the meaning ofCanadian securities laws. Forward‐looking information may relate to this presentation and other matters identified in Anatolia's publicfilings, 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", "targeted", "possible","continue", "objective" or other similar expressions concerning matters that are not historical facts and include, but are not limited in anymanner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence orrealization of mineral resource estimates, results of exploration activities, the timing and amount of future production, the timing ofconstruction of the proposed mine and process facilities, capital and operating expenditures, cash flows, the timing of receipt of permits,rights and authorizations, communications with local stakeholders and community relations, status of negotiations of joint ventures,availability of financing and any and all other timing, development, operational, financial, economic, legal, regulatory and political factorsthat may influence future events or conditions Such forward looking statements are based on a number of material factors andthat may influence future events or conditions. Such forward‐looking statements are based on a number of material factors andassumptions, including, but not limited in any manner, those disclosed in any other of Anatolia’s public filings, and include the ultimatedetermination of mineral reserves, availability and final receipt of required approvals, licenses and permits, sufficient working capital todevelop and operate the proposed mine, access to adequate services and supplies, economic conditions, commodity prices, foreigncurrency exchange rates, interest rates, access to capital and debt markets and associated cost of funds, availability of a qualified workforce, lack of social opposition and legal challenges, and the ultimate ability to mine, process and sell mineral products on economicallyforce, lack of social opposition and legal challenges, and the ultimate ability to mine, process and sell mineral products on economicallyfavorable terms. While Anatolia considers these assumptions to be reasonable based on information currently available to it, they mayprove to be incorrect. Actual results may vary from such forward‐looking information for a variety of reasons, including but not limited torisks and uncertainties disclosed in other Anatolia filings at www.sedar.com. Forward‐looking statements are based upon management’sbeliefs, estimate and opinions on the date the statements are made and, other than as required by law, Anatolia does not intend, andundertakes no obligation to update any forward‐looking information to reflect, among other things, new information or future events.

2

This presentation does not represent a solicitation or offer to sell securities.

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Profile – TSX:  ANO & ANO.DB20 Day VWAP Cdn $4.46

52 Week Low/High Cdn $2 01 – 4 72

Current Analyst CoverageBMO Capital MarketsDundee52‐Week Low/High Cdn $2.01 – 4.72

Market Cap $590 million

Average Daily Volume 600,000

DundeeParadigm CapitalRaymond JamesRBC Capital MarketWellington West

SharesIssued & outstanding 138.1 millionFully diluted 157.3 million

Haywood (under review due to departure of analyst)National Bank (under review due to departure of analyst)

Convertible Debenture: Cdn$100 million

Cash Position (December 31, 09): $83 million

K Sh h ld /P t P l I tKey Shareholders/Partners: Pala InvestÇalık Mining

Experienced Management Team

3

Strong Board of Directors

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OverviewDeveloping Çöpler Gold Mine ‐ First Production This Year

Exciting Gold Growth Potential ‐ Oxides & Sulfides

Significant Exploration Pipeline

Well Positioned for Value Creation

Primary Crusher Excavation Early November ‘09 Primary Crusher Excavation (23 meters) End of December ‘09Primary Crusher Excavation Early November ‘09 Primary Crusher Excavation (23 meters) End of December ‘09

4

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Çöpler Gold Mine

First Production This Yeart l ldLow Cost 1st Quartile Gold Mine

Fully Permitted and Funded

d d ( )Oxide Production & Economics (100%)175,000 avg ozs/year Au and 150,000 avg ozs/year AgInitial oxide mine life 8 yearsLOM h $260 ldLOM cash costs ‐ $260 per ounce goldCapEx ~$190 MillionAnnual After Tax Cash Flow – LOM@ $900 Au $90 million@ $900 Au $90 millionAdditional tax incentive credits

5 Source: Çöpler 43-101 Report – November 2008. Management is currently guiding that cash costs will be approximately 15-20% higher.

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Construction Momentum

Primary Crusher – end of March ‘10Stripping Benches – end of March ‘10 Primary Crusher – end of March  10Stripping Benches  end of March  10

6 Secondary Crushing Plant & Bin Foundations – end of March ‘10 Plant Site – end of March ‘10

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Construction Momentum

Cell 1

Cell 1

Rock‐Fill and Rough Grading of Leach Pad – end of March ‘10 Under‐Liner Placement for Geosynthetic Clay Liner – end of March ‘10Rock Fill and Rough Grading of Leach Pad  end of March  10 f y y f

7 Over‐Liner Production – Portable Crushing Plant – end of March ‘10Portable Crusher – end of March ‘10

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Construction Momentum

Çiftay (Mining Contractor) Camp Site Çiftay (Mining Contractor) Camp SiteÇiftay (Mining Contractor) Camp Site Çiftay (Mining Contractor) Camp Site

8 Labs – Assay, Met, Cyanide, Sample PrepÇiftay (Mining Contractor) Truck Shop

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Construction Momentum

Batch Plant Heap Leach Stacker Conveyors – End of February ‘10p y f y

9 Pond Area Rock Fill Complete – March ‘10 General Overview – February ‘10

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Çöpler Organic Growth Potential  Ç p gGold Reserves & Resources (100%)

Global Resources – 6+ million ozs all categoriesgOxide reserves: 2.2mm ozs @ 1.65 gptOxide resources: 0.6 mm ozs @ 0.77 gptSulfide resources: 3.2 mm ozs @ 1.73 gpt

Global Resources Update ‐ 2010Sulfide Pre‐Feasibility Study ‐ Q4/10

Au Ozs/Year

300,000 

350,000 

400,000 

450,000 

100 000

150,000 

200,000 

250,000 sulfide potential

oxides

10

Extend Life‐

50,000 

100,000 

2010 2011 2012 2013 2014 2015

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Çöpler Organic Growth ‐ SulfidesÇ p gHole # Meters Au (gpt) Ag (gpt) Zone

CDD‐201 78.5 5.49 3.14 Manganeseg

CDD‐202 62.0 9.75 21.98 Manganese

CDD‐206 37.0 2.65 10.7 Main

CDD 211 51 0 2 51 5 0 MainCDD‐211 51.0 2.51 5.0 Main

CDD‐228 21.0 11.28 10.6 Main

Open

11

CDD 20637m @ 2.65 g/t Au

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Organic Growth ‐ Elsewhereg

ÇöplerÇöplerCevizlidereKarakartal

Turkey

12

KarakartalIndicated & Inferred Resources of 70 million tonnes @ 0.41% CuEq

CevizlidereInferred Resource 446 million tonnes @ 0.38% Cu, 0.11 Au g/t, 47.76 Mo ppm

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Sources and Uses

SourcesCash December 31, 2009 $ 83,000,000.00 Other $ 16,000,000.00 Total Sources $ 99,000,000

UsesÇöpler Phase 1 Remaining $ (66,000,000.00)Çöpler WIP Inventory $ (9 000 000 00)Çöpler WIP Inventory $ (9,000,000.00)Debenture Interest $ (5,000,000.00)Exploration & Other Development $ (4,000,000.00)Other $ (5,000,000.00)Total Uses $ (89,000,000)

Reserves $ 10,000,000

13 Drilling at Çöpler

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Upcoming EventsConstruction Updates

Key MilestonesCevizlidere

Formation of JVKey MilestonesQuarterly

First Gold PourR U P

Formation of JV2010 Program

KarakartalGl b l R U dRamp‐Up Progress

Çöpler Economics Update

Global Resource UpdateÇöpler Sulfide Pre‐Feasibility StudyUpdate

General Site Overview ‐ December ‘09

StudyGeneral Site Overview – March ‘10

14

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Positioned for Success

Momentum for Production Q4 2010

New Low Cost Gold Mine

Generates High Cash Flow

Çöpler Organic Growth Potential ‐ Oxides and Sulfides

Exploration Growth Potential Elsewherep

Well Positioned for Future GrowthLaydown Area

15

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Questions & Answers

16

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Çöpler Reserves & ResourcesÇ pAs Reported: NI 43-101 November 2008

Reserves

Tonnes Gold Gpt Silver Gpt Gold Contained Silver Contained Gold Recovered Silver Recovered

OXIDE RESERVES & RESOURCES

Oxide Reserves

Proven Reserves 32,792,000 1.69 4.08 1,781,486 4,301,558

Probable Reserves 8,038,000 1.50 2.44 387,585 630,573

40,830,000 1.65 3.76 2,169,071 4,932,131 1,300,000 1,000,000

Oxide Resources

Measured 15 908 000 0 76 1 35 387 240 690 474Measured 15,908,000 0.76 1.35 387,240 690,474

Indicated 8,725,000 0.78 1.25 219,278 350,649

Inferred 1,448,000 0.85 0.77 39,418 39,572

26,081,000 0.77 1.29 645,936 1,080,695

Sulfide Resources

Measured 24,805,000 1.70 6.48 1,359,179 5,167,874

Indicated 31,458,000 1.74 4.76 1,760,300 4,814,329

Inferred 1,840,000 1.80 3.40 106,468 201,138

17

58,103,000 1.73 5.45 3,225,947 10,183,341

Total Reserves & Resources 125,014,000 1.50 4.03 6,040,954 16,196,167

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Çöpler Cash Costs BreakdownÇ p

43‐101

Parameters (Nov ‘08)

Mining Cost / Ore Tonne $          4.94 

i /Processing Cost / Ore Tonne

Crushing $          0.79 

Process $          2.80 

G&A (and Gen’l Plant) $ 0 84G&A (and Gen l Plant) $          0.84 

Mining tax $          0.07 

Total Processing Cost $          4.50 

Total Cost Per Ore Tonne $ 9 44Total Cost Per Ore Tonne $          9.44 

Cash operating cost/oz  $            260 

18

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Çöpler Oxides – Phase 1

19

Page 20: 2010 European Gold Forum April 14, 2010 · sulfide potential oxides 10 ... ÇÖPLERDrill Plan & Mineralization 22. ÇÖPLER Mn‐Mine Pit Drill Section L 63900N 31 m @ 2.65 g/t Au,

SART Process Flow Sheet

20

Page 21: 2010 European Gold Forum April 14, 2010 · sulfide potential oxides 10 ... ÇÖPLERDrill Plan & Mineralization 22. ÇÖPLER Mn‐Mine Pit Drill Section L 63900N 31 m @ 2.65 g/t Au,

Çöpler Facility Layout

21

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ÇÖPLER Drill Plan & Mineralization

22

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ÇÖPLER Mn‐Mine Pit Drill Section L 63900N

31 m @ 2.65 g/t Au, 24.8 g/t Ag

16 m @ 3.07 g/t Au

32 @ 3 01 /t A 26 /t A25 m @ 4.17 g/t Auincl. 15 m @ 6.04 g/t Au

32 m @ 3.01 g/t Au,26 g/t Ag

23

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ÇÖPLER Mn‐Mine Pit Drill Section L 60100 E

78.5 m @ 5.29 g/t Auincl. 11.1 m @ 10.28 g/t Au

50.9 m @ 3.67 g/t Auincl. 12.6 m @ 8.94 g/t Au

12.20 m @ 1.40 g/t Auincl. 2.10 m @ 3.70 g/t Au

24

21.30 m @ 2.61 g/t Auincl. 12.6 m @ 8.94 g/t Au

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ÇÖPLER Mn‐Mine Pit Drill Section L 59950 E

18.90m @ 4.70 g/t Au

20.50 m @ 2.95 g/t Au

25

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ÇÖPLER Main Zone ‐ Drill Section L 58900 E 

13 m @ 2.43 g/t Aui l 5 @ 5 29 /t A

4 m @ 6.39 g/t Auincl. 5 m @ 5.29 g/t Au

7 m @ 2.91 g/t Au, 61 g/t Ag

10 m @ 3.05 g/t Au

19 m @ 4.61 g/t Au

39 m @ 2.31 g/t Auincl. 11 m @ 5.02 g/t Au

26

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ÇÖPLER Main Zone ‐ Drill Section L 58650 E 

3 m @ 4.33 g/t Au

16 m @ 3.07 g/t Au

4 m @ 4.26 g/t Au

25 m @ 4.17 g/t Auincl. 15 m @ 6.04 g/t Au

27

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Proposed Sulfide Flow Chart

28

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Çalık: Terms & Structure

The strategic relationship with Çalık Mining will advance Anatolia’s

interests and future developmentinterests and future development

Initial Strategic

• Çalık Mining subscribed to a 5% interest in the Çöpler Gold Project with payments over theStrategic 

InvestmentÇöpler Gold Project with payments over the next 12‐months totalling US$12.6 million

Option to Purchase an Additional 15% Stake

• Anatolia has granted Çalık Mining an option, expiring December 31, 2011, to acquire up to an additional 15% interest in Çöpler for an additional US$37 8 million

Kurudere Çalık Mining

100% 100%

15% Stake additional US$37.8 million

Strategic Relationship for Future 

Development

• The strategic relationship allows for and supports cooperation and cross investment to jointly explore and develop other mineral properties in Turkey on a 50/50 basis Çukurdere Madencilik

95.0% 5.0%

Option to acquire an additional 15%

Ahmet Çalık to join the Board of Directors 

• As part of the strategic relationship, Mr. Ahmet Çalık will join the Board of Directors of Anatolia Minerals

• Çalık assumes share of project debtÇöpler Gold Mine

100%

additional 15%

29

Other Key Terms

• Çalık assumes share of project debt• The proceeds from the subscription and exercise of the option will accrue to the benefit of Anatolia

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Key Çalık Holding Divisions

Construction and contracting activitiesLeading manufacturer of high‐quality denim

Energy Textile ConstructionÇalık Energy is the Group’s energy subsidiary Construction and contracting activities 

International contractor with projects ranging from textile factories to heavy‐industry facilities, from housing to highways and from schools to museums

Currently operates several projects in Central Asia, Arabian Peninsula and Africa

Leading manufacturer of high quality denim cloth, which it supplies to customers around the world

Engaged in a variety of textile manufacturing activities in Turkey, Turkmenistan and Egypt

Offices in US, Italy, S. Korea, Belgium

Çalık Energy is the Group s energy subsidiary founded in 1998

Active in three main business lines:power systemsoil  & natural gaspipeline & refinery

,Accounts for 30% of Turkish denim export

Finance Media Telecommunication

Aktif Bank is Group’s investment  bank providing corporate banking services in Turkey

Second largest media enterprise in Turkey with 20% share in the advertising market

Fixed and mobile services in Albania

Primary units: Albtelecom & Eagle Mobile

EPC contractor and investor of power plants in Central Asia and Turkey

BKT, wholly owned by the Group, 2nd largest bank in Albania with $1.2 billion in assets, 52branches in Albania and 10 in Kosovo

Media assets include:Newspapers and MagazinesVisual MediaPublishing and DistributionProduction and News AgencyDigital Media and Mobile Services

Primary units: Albtelecom & Eagle Mobile295,000 fixed line subscribers30,000 ADSL clients510,000 mobile clients

Albtelecom incumbent, Eagle 3rd GSM operator in the country

30

The strategic partnership will allow Çalık Holding to expand its established global operations to include mining and exploration