Gold Anomaly Limited (ASX:GOA) Raises A$2.3 Million to Expand Maiden Drilling Program Crater Mountain Gold Project

Sydney, Nov 10, 2010 AEST (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) is pleased to announce that it will raise A$2.3 million by way of a placement to various professional and sophisticated investors through several broking firms. Allocations have been made to brokers and receipt of placement funds is being finalised.

The capital raised will provide funds for a more aggressive drilling program at the Crater Mountain project in PNG, as well as for working capital.

Crater Mountain, a former BHP (ASX:BHP) tier-1 prospect, consists of three contiguous exploration licences spanning some 300km2 in the highlands of Papua New Guinea. Four areas of gold mineralisation have been identified, of which the most advanced, the Nevera prospect, will be the initial focus of the drilling program.

Commenting on the raising, Gold Anomaly's Executive Chairman Mr Greg Starr said, "This is an exciting time for the Company, as we are set to commence our maiden drilling program at our flagship project. Given the support in the market for this program, we are now able to expand drilling from the initially planned 1500 metres to 2500 metres as a result of the placement.

"Director and Exploration Manager Mr Peter Macnab is leading the program. Given that Peter has played key roles in the discovery of major deposits totaling in excess of 100Moz gold equivalent throughout PNG we certainly believe that our drilling program is in very good hands."

To view the full announcement, please refer to the following link below:
http://www.abnnewswire.net/media/en/docs/64138-Gold-Anomaly.pdf

Contact

Ken Chapple Executive Director Mob: +61-418-758-301 Greg Starr Executive Chairman Mob: +61-2-9241-4224 http://www.goldanomaly.com.au