Cukurdere expanded (September 11, 2001)

A program of reverse-circulation, stepout drilling by partners Anatolia Minerals Development (YMC.U-V) and Rio Tinto (RTP-N) continues to expand, to the north and east, an area of gold mineralization on the Cukurdere gold project in Turkey.

Hole CRC-13 was collared 625 metres northeast of hole CRC-1A (80 metres averaging 10.4 grams gold per tonne). It cut 24 metres (from surface) averaging 3.8 grams gold per tonne and 59 metres (from 92 metres below surface) of 2.5 grams gold, including 18 metres running 4.9 grams. It bottomed in gold-mineralized intrusive.

Another 240 metres to the west of hole 13 and 500 metres north-northeast of hole 1A, hole CRC-15 cut 63.5 metres (from 125 metres) averaging 4.2 grams gold, including 26 metres of 7.4 grams. This hole bottomed in gold- and silver-mineralized intrusive and ran 96 grams silver from 125 metres to 188.5 metres.

Hole CRC-19, the northwestern-most of the follow-up holes, cut 32 metres (from 164 metres) of 1.5 grams gold. It bottomed in gold-mineralized intrusive.

Most of the holes in the eight-hole program were collared in the marble-cover zone, a 600-by-800-metre area defined by anomalous gold rock-chip geochemistry.

Holes 14, 16, 17 and 18 were terminated in gold-anomalous marble above the mineralized horizon and averaged 0.2-0.3 gram gold per tonne, with some 1-gram-plus intervals.

Hole CRC-20, the southernmost hole, was drilled on a down-faulted block, increasing the depth to the mineralized horizon.

Copper, silver and other element assay results are pending for some holes.

Some 635 metres to the southwest, six reverse-circulation holes (infill and stepout) have been sunk on the main zone. Assay results are pending.

The partners intend to launch an aggressive drilling program at Cukurdere, including core drilling, once analysis of all drilling to date is complete.

Rio Tinto is earning a 70% interest in the property by spending US$10.5 million on exploration and making payments of US$1.5 million.

Rio has a four-year agreement with Anatolia concerning the Uckapili and Karagoz gold prospects. Also part of the deal was the Kabatas copper prospect, which Rio recently dropped. Instead, Rio will raise the Karagoz prospect to project earn-in status and advance $300,000 for initial work.

Several scout holes are planned for Karagoz.