Gold Anomaly Limited (ASX:GOA) Raised A$3.6M To Expand Drilling Program At Crater Mountain Gold Project

Sydney, May 9, 2011 AEST (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) ("Gold Anomaly" or "the Company") today announces the successful completion of its A$3.6 million placement ("Capital Raising") at A$0.04 (4 cents) per share to help fund a drilling program at Crater Mountain.

The Placement received strong support and closed substantially oversubscribed. This will result in the introduction of a number of new institutional shareholders to Gold Anomaly's register.

Gold Anomaly's Executive Chairman, Greg Starr commented that "We are extremely pleased with the response from institutional and high net worth investors to the Capital Raising which we believe demonstrates strong support for our corporate strategy."

The funds raised will be used principally to support an intensified drilling programme at the Company's flagship Crater Mountain Project in PNG where recent assay results have provided considerable encouragement that the Project may host a large tonnage, low grade gold mineralisation deposit.

To date Gold Anomaly has completed a total of 5 holes (Nev 018 to Nev 022) on the Project's Nevera Prospect for a total of 2,537m, and assay results have been reported for the first two of those holes (Nev 18 and Nev19). Assay results for the other three holes are currently awaited.

Gold Anomaly is planning to complete a further 10,000m of drilling by year's end, and is currently sourcing a second drill rig to assist with this work.

New shares issued under the Capital Raising will rank equally with existing shares on issue and are expected to settle on Thursday, 12 May 2011 with trading commencing on 13 May 2011.

Austock Corporate Finance acted as lead manager to the Capital Raising.

The trading halt in Gold Anomaly shares will be lifted today.

Contact

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