Anaconda Mining Inc (ANX)

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Cloudbreak Resources begins drilling at Ikiztepe-Sarp


2007-07-11 10:40 ET - News Release

Mr. Blair Naughty reports

CLOUDBREAK COMMENCES DRILLING ON ITS IKIZTEPE-SARP PROPERTY, NW TURKEY

Cloudbreak Resources Ltd. has mobilized two diamond drilling rigs on its Ikiztepe-Sarp licences in northwestern Turkey.

In conjunction with the current geophysical program under way, drilling has begun on the Derekoy target. The objective is to confirm good historic results and to widen the known mineralized zones, aiming at establishing an inferred resource in this or the following drill round.

Cloudbreak is earning a 65-per-cent interest in the properties, through an agreement with Valhalla Resources Ltd., a private Cyprus-based company. The properties are owned by a Turkish subsidiary of Anatolia Minerals Development Ltd. To earn up to a 65-per-cent interest in the properties, Cloudbreak must make property payments of $1.2-million (U.S.), completing work expenditures of $5-million (U.S.) and issuing 1.2 million common shares of Cloudbreak over a five-year period.

Marvin Mitchell, PGeo, a director of Cloudbreak Resources and qualified person as identified by National Instrument 43-101, has reviewed and verified the technical content of this release.

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