Anatolia Minerals Development Ltd fka ANO.U

[Ed Monton]

Kinross to Acquire 4 Million Shares of Anatolia

TORONTO, ONTARIO--Anatolia Minerals Development Limited (TSX:
ANO.U; "Anatolia") is pleased to announce that it has entered
into an agreement with Kinross Gold Corporation (NYSE: KGC; TSX:
K; "Kinross") whereby Kinross will acquire 4 million common
shares of Anatolia at a price of US$1.35 per share on a private
placement basis. As a result of this transaction, which is
expected to close on January 27th subject to regulatory approval
and certain other conditions, Kinross will own approximately
10.2% of Anatolia's outstanding shares.

Anatolia expects that the aggregate gross proceeds of US$5.4
million will be used to fast-track development of its
wholly-owned +4 million-ounce Copler inferred gold resource in
Turkey, to redeem the US$2 million preferred share granted to the
original Turkish license owner of Copler on January 2nd, 2004,
and for general corporate purposes.

Anatolia and Kinross also agreed to discuss entering into a
strategic alliance similar to the existing strategic alliance
between Anatolia and Rio Tinto Mining and Exploration Limited
("Rio Tinto") described below. However, neither Anatolia nor
Kinross is under any obligation to enter into any such strategic
alliance, and the rights granted by any such strategic alliance
shall not conflict with any rights already held by Rio Tinto.

Kinross shall have the right to conduct due diligence in relation
to a potential strategic alliance and review all of Anatolia's
data on the Copler property and its other non-Rio Tinto
properties. Following closing, Kinross shall have a 90-day
exclusive right to enter into an earn-in, royalty, acquisition or
similar agreement in respect of Copler with Anatolia.

About Anatolia:

Anatolia has been engaged in minerals exploration in Turkey since
1996. Earlier this month, Anatolia increased its interest in the
+4 million-ounce Copler inferred gold resource to 100% by
acquiring interests from Rio Tinto (in exchange for 4 million
common shares of Anatolia) and from the original Turkish license
owner, free of any royalties, earn-in rights or back-in rights.
The shallow leachable portion of that resource, where the Company
plans to fast-track development for a potential high grade open
pit gold operation, is Anatolia's initial focus.

In April, 2000, Anatolia and Rio Tinto formed a 4-year strategic
alliance to seek base and precious metal deposits in Turkey. In
November, 2003, the alliance was extended through year-end, 2007.
To date, Rio Tinto has funded nearly US$12 million for JV
exploration. Rio Tinto is currently earning into three prospects
in Turkey, each requiring expenditures of US$10 million,
completion of an order of magnitude study and payment of US$1.5
million for Rio Tinto to earn a 66.67% interest. Anatolia
continues to add value to shareholders through this joint venture
arrangement.

Anatolia presently has 31.3 million common shares issued and
outstanding, 38.9 million fully diluted, before giving effect to
the above-mentioned acquisition of shares by Kinross and the Rio
Tinto/Copler transaction. Upon closure of these transactions,
expected by the end of January, Anatolia will have 39.3 million
shares issued and outstanding, 46.9 million fully diluted.

Anatolia trades on the Toronto Stock Exchange in US dollars as
ANO.U.

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, with quality control of sampling,
preparation and assaying overseen jointly by Rio Tinto and
Anatolia whose President, Richard C. Moores, is a "qualified
person" for the purposes of applicable Canadian securities
regulations.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Richard C. Moores
President
[phone]
[phone] (FAX)
or
George Duggan
Investor Relations
[phone]
[phone] (FAX)
www.anatolia-minerals.com