ANI Animas Resources Ltd.

Animas Resources Ltd. (TSX VENTURE:ANI) announces that it has agreed to raise
$3.4 million by way of a non-brokered private placement of Units at $0.20 per
Unit. Mr. Ernesto Echavarria will be the sole purchaser of the Units and,
subject to shareholder approval, will become a 39.1% shareholder of Animas. 


Mark T. Brown, Chair of the Board of Directors of Animas, commented that, "We
are pleased to have the continued support of Mr. Echavarria. The Company and Mr.
Echavarria share the same vision and confidence that the Santa Gertrudis gold
deposits can once again produce gold as they did in the 1990s." The gold
resources at Santa Gertrudis, a formerly producing mine, were upgraded to NI
43-101 inferred status and announced on January 5th, 2011 and May 19, 2009.


Animas' Strategic Plan

Animas' new strategic plan to advance the Company and take advantage of the
current high gold prices includes the following: 




--  Complete resource definition drilling and engineering work on the 100%
    owned Santa Gertrudis Gold Project in Mexico on the existing gold
    resource areas. 
--  Sell its interest in the Kinsley Mountain Gold project in Nevada. 
--  Reduce operating costs in all areas to focus shareholder's funds on
    advancing the Santa Gertrudis project towards gold production. 
--  Implement management changes and make new additions to the team to
    become a gold production focused company. 
--  Complete this financing to advance the first stages of the new strategic
    plan. 



The further investment by Mr. Echavarria, a Mexican citizen, is a strong vote of
confidence in the Company. Mr. Echavarria has numerous investments in mineral
exploration companies and has made this type of investment very successfully in
the past in the form a strategic financing in Copper Fox Metals Inc. which has
been very successful. In reviewing financing options, Animas concluded that this
financing was the best option to build shareholder value for all shareholders.


Mr. Echavarria is already an insider of the Company and currently owns 19.5% of
Animas. In accordance with TSX Venture Exchange policies, a Special Meeting of
the shareholders of Animas will be held at the end of October 2011 to request
shareholder approval of this offering because Mr. Echavarria's interest will
exceed the 20% ownership threshold. 


Mr. Echavarria has extensive experience in investing and is active both in
executive and Board roles with various companies. He is a Certified Public
Accountant and has significant shareholdings in certain large companies in
Mexico including MegaCable Holding SAB, as a controlling shareholder. He is also
an executive and director of Franks Distributing which is a major distributor of
fruit and vegetables, and a major real estate developer throughout Mexico. 


Animas believes that Mr. Echavarria's involvement, along with the new strategic
plan, will be a significant benefit to all shareholders of Animas. 


Effective September 1, 2011, the Board of Animas has also appointed Mr. John
Wilson as the President and CEO of the Company to lead the advancement of the
Santa Gertrudis gold project in Mexico. Mr. Wilson has been the Company's Vice
President of Exploration for the past four years and has lead many successful
exploration programs over his 40 year career. His work for Cyprus, Codelco
Corporation, Amoco Minerals, Amax and Essex has ranged from initial prospect
evaluation to the design and management of regional exploration, deposit
modeling and development programs.


Mr. Gregory E. McKelvey, formerly the Company's President & CEO, will maintain a
Director role with Animas and continue to be involved in oversight of the
Company's operations. His past experience and leadership within Animas will
continue to add value for the Company.


Further plans on the Santa Gertrudis program and the Kinsley Mountain project
will be announced shortly.


Financing

The non-brokered private placement will consist of 17,000,000 units (a "Unit")
at $0.20 per Unit for gross proceeds of $3.4 million, subject to acceptance by
both the TSX Venture Exchange and the Shareholders of the Company. Each Unit is
comprised of one common share and one-half of one non-transferable common share
purchase warrant. Each warrant entitles the holder to purchase one additional
common share for a period of 24 months at a price of $0.30 per common share. The
securities will have a four-month hold from the date of closing.


At the upcoming Special Meeting, shareholders will be asked to approve the
$3,400,000 financing. Upon completion of the proposed financing, Mr. Ernesto
Echavarria, an insider and a control person of Animas Resources Ltd., as defined
by the regulations of the TSX Venture Exchange will own 39.1% of the Company,
and 46.4% on a fully diluted basis.


The financing proceeds will be used to advance the Santa Gertrudis gold project
in Mexico towards pre-feasibility status. 


Potential Future Financing

To show continued support of the Company and Mr. Echavarria's commitment to the
Company to advance the Santa Gertrudis gold project, Mr. Echavarria has also
agreed to a non-binding arrangement to provide the Company with a $10 million
line of credit subject to receipt of a positive feasibility study towards
production. Terms of this loan will be settled shortly and will be subject to
approval of the TSX Venture Exchange.


About Animas Resources Ltd.

Animas Resources Ltd., a North American mineral resource company focused on
acquisition and discovery, consolidated the Santa Teresa District's Santa
Gertrudis precious metal and related deposits and prospects within a 562 square
kilometer land holding. Our mission is to grow Animas Resources through
development, discovery and acquisition of high-quality mineral deposits and to
build upon the historic gold resource base at Santa Gertrudis, Mexico, and
maintain a pipeline of only the highest quality projects. 


This news release was prepared by Company management, who take full
responsibility for its content. 


Mark T. Brown, Director

This press release contains "forward-looking information" which may include, but
is not limited to, statements with respect to drilling plans, timing of our
planned NI 43-101 resource report, timing of assays, resource estimates,
projections, our planned exploration and drilling programs, the availability of
future financing for exploration and other plans, projections, estimates and
expectations. Such forward-looking statements reflect our current views with
respect to future events and are subject to certain risks, uncertainties and
assumptions, including, the risks and uncertainties outlined in our most recent
financial statements and reports and registration statement filed with the
Canadian securities administrators (available at www.sedar.com). Should one or
more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
anticipated, believed, estimated or expected.

Animas Resources Ltd. (TSXV:ANI)
Historical Stock Chart
From Jun 2024 to Jul 2024

Animas Resources Ltd. (TSXV:ANI)
Historical Stock Chart
From Jul 2023 to Jul 2024