TORONTO, ONTARIO--(Marketwire - March 28, 2012) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Anconia Resources Corp. (TSX VENTURE:ARA) ("Anconia" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders held earlier today. At the meeting, Anconia shareholders approved:

• fixing the number of directors of the Company at five;
• empowering the directors to determine the number of directors of the Company;
• the re-election of the incumbent Board of Directors, being Jason Brewster, Denis Clement, Michael Florence, Peter Miller and John Sadowksi;
• the re-appointment of McCarney Greenwood LLP as auditor of the Company and authorizing the Board of Directors to fix the auditor's remuneration;
• the adoption of By-Law No. 1A as a by-law of the Company; and
• the adoption of the Company's new 10% "rolling" stock option plan,

all as more particularly set out in the information circular of the Company as mailed to shareholders and filed on SEDAR.

Financing Update

The Company continues to work towards closing a second tranche of its previously announced non-brokered private placement financing (see the Company's news releases dated February 14 and March 19, 2012), and expects to close a second tranche by mid-April.

About Anconia

Anconia is a base and precious metals exploration and development company, which is focused on providing shareholder value through the advancement of its properties in the Nunavut Territory and Ontario, Canada. Anconia is undertaking a comprehensive exploration program to determine the potential of the projects currently in its portfolio.

Forward-Looking Information

This news release contains forward looking statements and information under applicable securities laws, including with respect to the completion of a second tranche of the Company's private placement financing and the timing related thereto. Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management of Anconia in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to: the speculative nature of mineral exploration and development, including the uncertainty of mineral reserve and resource estimates; uncertainties relating to the availability and costs of financing needed to complete exploration activities; exploration costs varying significantly from estimates; delays in the exploration and development of, and/or commercial production from, the properties in which Anconia has an interest; unexpected geological or hydrological conditions; operational and technical difficulties; fluctuations in commodity prices; the existence of undetected or unregistered interests or claims, whether in contract or in tort, over the property of Anconia; success of future exploration and development initiatives; competition; operating performance of facilities; environmental and safety risks, including increased regulatory burdens, seismic activity, weather and other natural phenomena; inability to, or delays in, obtaining necessary permits and approvals from government authorities; risks relating to labour; and other exploration, development and operating risks; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; as well as other risks and uncertainties which are more fully described in Anconia's annual and quarterly Management's Discussion and Analysis and in other filings made by Anconia with Canadian securities regulatory authorities and available at [ www.sedar.com ].

Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, Anconia disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Anconia believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Contributing Sources

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