Anglogold Ashanti Signs Heads of Agreement with Antofagasta Plc

Anglogold Ashanti Signs Heads of Agreement with Antofagasta Plc                 
AngloGold Ashanti Limited                                                       
Incorporated in the Republic of South Africa                                    
Registration Number: 1944/017354/06)                                            
ISIN Number: ZAE000043485                                                       
JSE Share Code: ANG                                                             
("AngloGold Ashanti/Company")                                                   
ANGLOGOLD ASHANTI SIGNS HEADS OF AGREEMENT WITH ANTOFAGASTA PLC                 
AngloGold Ashanti Ltd is pleased to announce the signing of a Heads of Agreement
with LSE-listed Antofagasta PLC to jointly explore a highly prospective belt in 
Southern Colombia for new gold and copper deposits.  AngloGold Ashanti will     
include all of its mineral applications, contracts, and third-party contracts   
within the area of interest in the new joint venture.                           
   Under the terms of the agreement, Antofagasta will commit to fund a minimum  
of US$1.3m of exploration within 12 months of the signing of the agreement, with
the option of investing an additional US$6.7m within four years of the          
commencement date of the agreement in order to earn-in to 50% of the joint      
venture.  Once Antofagasta has earned into its 50% interest, a joint management 
committee will determine which properties are "copper-dominant" and which are   
"gold-dominant" and, by funding bankable feasibility studies within eight years 
of the commencement date of this agreement, Antofagasta and AngloGold Ashanti   
will have the right to increase their interests in copper-dominant and gold-    
dominant properties, respectively, by an additional 20%.                        
Commenting on the transaction, Executive Officer: Business Development       
Richard Duffy said, `Our new relationship with Antofagasta reflects our         
continuing commitment to expediently exploring our extensive land position in   
Colombia, both through our own programme and, in some areas of our concession,  
in partnership with other companies, thereby continuing to leverage our         
significant first-mover advantage in this highly prospective region."           
Ends                                                                            
Johannesburg                                                                    
14 July 2006                                                                    
JSE Sponsor: UBS                                                                
Date: 14/07/2006 12:19:13 PM Supplied by www.sharenet.co.za                     
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