ARA Anconia Resources Corp

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 closing of a second tranche of its previously announced
non-brokered private placement financing (see the Company's news release dated
February 14, 2012) (the "Offering") for gross proceeds of $400,300. Together
with the first tranche of the Offering which closed on March 19, 2012, Anconia
has raised gross proceeds of approximately $1.63 million pursuant to the
Offering. The Company expects to closing a final tranche of the Offering in May
2012. 


On closing of the second tranche, Anconia issued 845,000 units ("Units") at
$0.20 per Unit and 1,005,649 flow-through units ("Flow-Through Units") at $0.23
per Flow-Through Unit. 


Each Unit consists of one common share of the Company and one-half of one common
share purchase warrant (a "Unit Warrant"). Each whole Unit Warrant entitles the
holder to purchase one common share of the Company at a price of $0.27 per share
for a period of 18 months following closing. 


Each Flow-Through Unit consists of one common share of the Company issued on a
'flow-though' basis and one-half of one common share purchase warrant (a "FT
Warrant"). Each whole FT Warrant entitles the holder to purchase one common
share of the Company at a price of $0.30 per share for a period of 18 months
following closing. 


The aggregate gross proceeds raised under the Offering will be used, among other
things, to conduct a comprehensive exploration program of three properties owned
by the Company in the Nunavut Territory, Canada and for working capital
purposes. The Company may also use a portion of the proceeds raised to acquire
new properties or expand existing land claims in its portfolio. Proceeds from
the sale of the Flow-Through Units will be used for Canadian Exploration
Expenses on the Company's properties. 


In connection with the closing of the first and second tranches of the Offering,
Anconia has paid to certain finders ("Finders") an aggregate cash commission of
$74,544 and issued to the Finders common share purchase warrants ("Finders'
Warrants") to acquire up to an aggregate of 477,234 common shares of Anconia at
$0.20 per share for a period of 18 months following closing of the applicable
tranche of the Offering. 


As part of the closing of the second tranche of the Offering, a senior officer
and director of Anconia (the "Insider") subscribed for, directly and indirectly,
an aggregate of 100,000 Flow-Through Units and 100,000 Units. Pursuant to
Multilateral Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions ("MI 61-101"), the issuance of Flow-Through Units and Units
to the Insider and director constitutes a "related party transaction". The
Company is exempt from obtaining both a formal valuation and minority
shareholder approval in connection with the issuance of such Flow-Through Units
and Units because neither the fair market value of the Units and Flow-Through
Units issued to the Insider, nor the consideration for such securities, exceeds
25% of the Company's market capitalization as calculated in accordance with MI
61-101. 


All of the securities issued under the second tranche of the Offering are
subject to a statutory hold period in Canada expiring four months from the date
of closing and ending August 31, 2012.


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 completion of an
additional tranche of the Offering and the Company's anticipated use of proceeds
of the Offering. 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.

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