Gold Anomaly Limited (ASX:GOA) Chairman Address to 2010 Annual General Meeting

Sydney, Nov 23, 2010 AEST (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) is pleased to release the Chairman's address to 2010 Annual General Meeting. The address is as follows:

In the twelve months since the previous General Meeting there has been significant development in your company. Sao Chico is expected to be commissioned for production by the end of the year, drilling is about to commence at crater Mountain following the road construction and benching that was undertaken during the year and funds have been raised putting the company's balance sheet in a stronger position.

During the year there has also been significant improvement in share trading volume as investor relations has been improved and as a result making the GOA shares more attractive to retain investors. In top of this the company has developed stronger relationships with a range of bankers and stock broking firms setting the scene for the growth and development of the company on further development of Crater Mountain.

Reflecting the size of the company and managements expertise in Papua New Guinea exploration, we entered into an arrangement with TSX listed Kenai Resources (CVE:KAI) with a view of fast tracking Sao Chico's development and exploration activities - enabling our management team to focus on Crater. While the transaction is expected to result in less equity involvement in Sao Chico, given the expansion objectives of Kenai we believe our return may be improved from being part of a larger operation.

In line with the PNG focus we have restructured the Fergusson Island involvement to be 100% on the PNG Government granting an extension to the timing of the Bankable Feasibility Study. This approval is awaited.

Further, we have entered into a letter of intent with a minority partner at Crater Mountain such that the company under certain conditions could own 90% of the project during the exploration phase and more on a decision to mine.

With the rise in the gold price, the gold focus and the increase in equity in projects that have significant exploration potential, we are poised for significant growth.

I would like to thank you all for your support of the company during the year and look forward to your continuing support in 2011.

I would also like to thank my fellow directors and management team for their untiring commitment and enthusiasm to the company.

Greg Starr
Executive Chairman

Contact

Greg Starr Executive Chairman Mob: +61-2-9241-4224 http://www.goldanomaly.com.au