Gold Anomaly Limited (ASX:GOA) Finalise the Acquisition of Ferguson Island Gold Project in Papua New Guinea

Sydney, July 29, 2011 AEST (ABN Newswire) - Gold Anomaly Limited (ASX:GOA) (or "GOA") and its wholly owned PNG subsidiary company Gold Aura (PNG) Limited ("GOA PNG") are pleased to announce that they have finalised an agreement to consolidate a 100% interest in the Fergusson Island Gold Project (the "Project"). Pursuant to an amended acquisition agreement (the "Acquisition Agreement") GOA has issued 12 million shares and paid CDN$25,000 to acquire a 33% interest in the Project, bringing GOA's total ownership in the Project to 100%. Prior to the amendment of the Acquisition Agreement GOA was obliged to issue 18,762,545 shares as consideration for this 33% interest. Given the outstanding matters relating to EL 1070, GOA was able to reduce the share consideration required for the acquisition of the outstanding 33% interest in the Project.

The Company is currently in discussions with the PNG Mineral Resources Authority ("MRA") with respect to the grant of an extension to a feasibility study deadline and the renewal or reissuance of exploration licenses EL 1025 and EL 1070. The Company advised earlier this year that following its requests to the MRA to grant an extension to the Fergusson Island Gold Project feasibility study deadline the MRA had refused to renew EL 1070.

GOA believes the discussions with the MRA have been positive and there are good grounds to believe that the end result will be that GOA will, for the first time, have rights to 100% of the Wapolu and Gameta deposits on Fergusson Island.

The Project comprises two drilled gold deposits, Wapolu and Gameta, located 30 kilometres apart on the north coast of Fergusson Island in PNG. Since 1996, over $15M has been spent on the Project. Both properties are accessible by low cost water access due to their close proximity to the coast. Landowners are supportive of the Project and its potential commercial development.

Contact

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