Diskussion zu Signal Gold [Anaconda Gold] - Älteste Beiträge zuerst (Seite 3510)

[IQ4U]

Ich habe meinem Broker den Auftrag erteilt gegen den Merger zu stimmen.
Selbst konnte ich das nicht tun.
Es musste über meine Bank laufen.

Wollen wir mal sehen was die nahe Zukunft bringt...

[supideti]

Antwort auf Beitrag Nr.: 54.885.011 von IQ4U am 07.05.17 15:53:54

Habe ich auch getan, allerdings macht mir die Zukunft etwas Angst
Keine hohen Grade und alleine auf den Goldpreis hoffen?
Welche Strategie hat Anaconda?
Naja, irgendwie machen mich die Zahlen nicht wirklich glücklich

[IQ4U]

Habt Ihr es alle mitbekommen?

Die Abstimmung über die Fusion ist gelaufen:

May 8, 2017: Anaconda Mining and Orex Exploration Announce Results of Special Meetings

May 8, 2017 – Toronto, ON and Rouyn-Noranda, QC – Anaconda Mining Inc. (“Anaconda”) (ANX: TSX) and Orex Exploration Inc. (“Orex”) (OX: TSXV) are pleased to announce that all applicable resolutions in connection with the proposed plan of arrangement involving Anaconda and Orex were overwhelmingly approved today at the special meeting of shareholders of Anaconda (the “Anaconda Meeting”) and the special meeting of securityholders of Orex (the “Orex Meeting”).

At the Orex Meeting:

the special resolution authorizing and approving the continuance of Orex from the Province of Québec into the Province of Ontario in accordance with the Business Corporations Act (Québec) and the Business Corporations Act (Ontario) (“OBCA”) was approved by 99.64% of the votes cast by shareholders of Orex; and
the special resolution approving a plan of arrangement (the “Arrangement”) under section 182 of the OBCA involving Orex and Anaconda, pursuant to which Anaconda will, among other things, acquire all of the issued and outstanding common shares of Orex was approved by 99.69% of the votes cast by securityholders of Orex.

At the Anaconda Meeting:

the ordinary resolution approving the issuance by Anaconda of such number of common shares of Anaconda as may be required to be issued pursuant to the plan of arrangement involving Orex under section 182 of the OBCA in accordance with the terms of an arrangement agreement dated March 2, 2017 between Anaconda and Orex was approved by 96.74% of the votes cast by shareholders of Anaconda; and
the special resolution approving the amendment to the articles of Anaconda to provide that (A) the authorized capital of Anaconda be altered by consolidating all of the common shares of Anaconda on the basis of 0.25 of a new common share for every one existing common share of Anaconda (the “Consolidation”); and (B) any fractional common shares arising from the consolidation will be deemed to have been tendered by its registered owner to Anaconda for cancellation for no consideration was approved by 95.87% of the votes cast by shareholders of Anaconda.

Further information about the Arrangement and the Consolidation is set out in the Anaconda and Orex joint management information circular dated April 3, 2017 (the “Circular”) which is available on SEDAR under both Anaconda and Orex’s SEDAR profile at www.sedar.com.

The Arrangement is expected to be completed on or about May 19, 2017 and remains subject to receipt of all requisite regulatory approvals. Registered Orex shareholders should complete, sign and return their letter of transmittal with accompanying share certificates to TSX Trust Company, the depositary for the Arrangement, as soon as possible in order to receive their common shares of Anaconda upon completion of the Arrangement. Further information with respect to this procedure is set out in the Circular.

Following the Arrangement, the board of directors will assess market conditions and will proceed to effect the Consolidation within the next twelve months if the board of directors determines that the Consolidation is in the best interest of Anaconda.

Dustin Angelo, President and CEO of Anaconda, stated, “We are very pleased with the overwhelming support for the Arrangement. The assets of both companies complement one another and provide the platform from which to grow in Atlantic Canada. We look forward to developing the Goldboro Project and realizing the tremendous value for our shareholders in combining Orex and Anaconda.”

“On behalf of the board of directors I would like to thank our shareholders for their ongoing support as Orex undertakes this important transaction. We continue to believe the Goldboro Project presents an extraordinary opportunity and we look forward to working with our new colleagues at Anaconda to realize that potential.” said Jonathan Fitzgerald, Chairman and CEO of Orex.

Anaconda and Orex have already started working together on advancing the Goldboro Project. The permitting process is underway, beginning with an initial meeting with regulatory officials organized by the Nova Scotia Mineral Development Division, the completion of certain environmental studies related to moose and owl surveys and the preparation for next steps in the process. Anaconda management has also begun community and First Nations engagement. In addition, Anaconda is continuing work on the Goldboro mineral resource model to optimize it based on its conceptual development plan. Multiple operating plans are currently being evaluated and the optimal scenario will be determined in the coming months. Anaconda will provide additional updates on its progress as it meets its development milestones following completion of the Arrangement.

None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United State Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

ABOUT ANACONDA MINING INC.
Anaconda is a growth-oriented, Atlantic Canada regional gold producer, developer and explorer with a producing project called the Point Rousse Project on the Baie Verte Peninsula, Newfoundland. Anaconda also has three other exploration projects called the Viking and Great Northern Projects and the Tilt Cove Property in Newfoundland.

Anaconda has plans to grow its resource portfolio and production profile through exploration and mergers and acquisitions. To maximize potential profit and minimize capital investment, it will leverage its existing operating infrastructure at the Point Rousse Project including Anaconda’s mill facility, tailings capacity and port facility.

As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in its people and giving back to the communities in which we operate – building a better future for all our stakeholders, from the ground up.

ABOUT OREX EXPLORATION INC.
Orex is a mineral exploration company based in the Province of Quebec, Canada. Orex’s principal asset is the Goldboro Project in Nova Scotia in which it holds a 100% interest. The Goldboro Project is located approximately 180 kilometres northwest of Halifax, on the eastern shore of Nova Scotia. The property comprises 37 contiguous claims, covering 600 hectares.

Mineral resources occur in three spatially contiguous zones along the Upper Seal Harbour anticline. These comprise the total “Goldboro Deposit” and consist of the Boston Richardson Zone, the East Goldbrook Zone and the West Goldbrook Zone.

For further details on Orex and the Goldboro Project, please visit Orex’s website at www.orexexploration.ca or Canadian public filings at Orex’s profile at www.sedar.com.

FORWARD-LOOKING INFORMATION
This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, the timing for the completion of the Arrangement, the implementation of the Consolidation and statements regarding the combined company and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to: the approval of the Arrangement by the Toronto Stock Exchange and the TSX Venture Exchange; the approval of the Arrangement by the Ontario Superior Court of Justice; the approval of the Consolidation by the Toronto Stock Exchange; capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any projects caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; the realization of the expected benefits resulting from the combination of the two entities (or the strategies or future actions of the companies); and other factors. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “plans,” “may,” “estimates,” “expects,” “intends,” “believes,” “indicates,” “targeting,” “potential” and similar expressions. These forward-looking statements, including statements regarding Anaconda and Orex’s beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking information. Any forward-looking statements contained herein are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.

FOR ADDITIONAL INFORMATION CONTACT:
Anaconda Mining Inc.
Dustin Angelo
President and CEO
[phone]
[e-mail]
www.AnacondaMining.com

Orex Exploration Inc.
Jonathan Fitzgerald
CEO
[phone] Tel.
[e-mail]
www.orexexploration.ca

Quelle: https://anacondamining.com/may-8-2017-anaconda-mining-and-or…

[supideti]

Antwort auf Beitrag Nr.: 54.902.111 von IQ4U am 09.05.17 17:04:57

Die Masse hat sich ja für den Zusammenschluss entschieden.
Vielleicht haben wir unrecht, da wir den Deal nicht bzw. in einen anderen tauschverhältnis wollten
Nun gut, verkaufen bringt nichts
Entweder hopp oder topp

[bigyawn]

Anaconda Mining, Orex Exploration close arrangement

2017-05-19 14:36 ET - News Release

Also News Release (C-OX) Orex Exploration Inc

Mr. Dustin Angelo of Anaconda reports

ANACONDA MINING COMPLETION OF ARRANGEMENT WITH OREX EXPLORATION

Anaconda Mining Inc. and Orex Exploration Inc. have completed the previously announced plan of arrangement pursuant to which Orex has now become a wholly owned subsidiary of Anaconda.

Dustin Angelo, president and chief executive officer of Anaconda, commented: "We are extremely appreciative of the strong support we received from our shareholders and the Orex shareholders in completing this transaction. This marriage of an experienced gold producer with operating infrastructure and a large mineral resource is expected to create significant shareholder value. We have already started down the path of building that value by beginning the Goldboro permitting process, resource optimization, economic analysis and planning for a diamond drill program, among other project development initiatives. We are targeting to have a preliminary economic assessment completed by the end of 2017."

Under the arrangement, Anaconda issued 172,167,741 common shares of Anaconda to former shareholders of Orex. As a result, on closing Anaconda had 381,500,492 Anaconda shares issued and outstanding, with approximately 54.9 per cent of the Anaconda shares being held by former Anaconda shareholders and 45.1 per cent of the Anaconda shares being held by former Orex shareholders, on a non-diluted basis.

Full details of the arrangement and certain other matters are set out in the joint management information circular of Anaconda and Orex dated April 3, 2017. A copy of the information circular can be found under Anaconda's and Orex's respective profiles on SEDAR.

Information for former Orex shareholders

Trading in the common shares of Orex are expected to be formally delisted from the TSX Venture Exchange, effective at the close of business on Tuesday, May 23, 2017.

Pursuant to the arrangement, former Orex shareholders are entitled to receive 0.85 of an Anaconda share for each Orex share held. In order to receive Anaconda shares in exchange for Orex shares, former Orex registered shareholders must complete, sign, date and return the letter of transmittal that was mailed to each registered Orex shareholder prior to the special meeting of securityholders of Orex. The letter of transmittal is also available under the SEDAR profile of Orex. For those shareholders of Orex whose shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their Orex shares and should follow the instructions of such intermediary or nominee.

Board and management

The board of directors of the combined company now comprises the following individuals:

Jonathan Fitzgerald (non-executive chairman);
Mr. Angelo;
Kevin Bullock;
Michael Byron;
Lewis Lawrick;
Jacques Levesque;
Maruf Raza.

The board of directors would like to thank Tim Casgrain and Glenn Dobby, former directors of Anaconda, and Dany Cenac Robert, Marcel Faucher, Robert Schafer, Jean-Pierre Landry and Claude Poulin, former directors of Orex, for their dedication and continued support. In addition, the board of directors of Anaconda would like to thank Jonathan Fitzgerald, the former chairman and CEO of Orex, Jacques Levesque, the former chief financial officer of Orex, and Julie Godard, the former corporate secretary of Orex, for their steadfast stewardship of Orex through this transaction.

Arrangement highlights

The arrangement is intended to provide significant benefits, including:

Acceleration of development of the Goldboro project by combining the mineral resources with Anaconda's proven operating infrastructure at the Point Rousse project and experienced management team;
Potential for substantial capital cost reductions at the Goldboro project through leveraging Anaconda's existing port, mill and tailings facilities;
Potential for gold-producing operations in two mining-friendly jurisdictions in Atlantic Canada -- Newfoundland and Labrador and Nova Scotia;
Establishment of a strong position from which to participate in any future consolidation in the mining industry in Atlantic Canada;
Greater market presence, enhanced liquidity and a broader capital markets profile.

Anaconda's Point Rousse project has been producing gold for nearly seven years, and, in that time, Anaconda has incrementally improved its operating infrastructure, which includes a 1,300-tonne per day mill, tailings capacity for approximately 15 years (based on the current mill throughput rate) and a port facility. Both the Point Rousse project and Goldboro project are located on tidewater. With favourable logistics and existing infrastructure in place, Anaconda expects it will be able to accelerate the development of the Goldboro project at a lower capital cost than if it were a stand-alone project.

The arrangement has created a company with expanded mineral resources, most of which are high grade. The mineral resource portfolio now includes 457,400 measured and indicated ounces of gold and 372,900 inferred ounces at the Goldboro project in Nova Scotia (see Orex's news release dated March 1, 2017); 107,230 indicated ounces of gold and 37,030 inferred ounces at the Point Rousse project; and 83,000 indicated ounces of gold and 31,000 inferred ounces at the Viking project in Newfoundland and Labrador (see attached table). Detailed resource tables prepared in accordance with National Instrument 43-101 are presented.

A SUMMARY OF MINERAL RESOURCES AT GOLDBORO, POINT ROUSSE AND VIKING PROJECTS

Point Rousse, Viking,
Goldboro, Nova Scotia Newfoundland and Labrador Newfoundland and Labrador
Grade (1) Grade (1) Grade (1)
Category Tonnes (g/t) Ounces Tonnes (g/t) Ounces Tonnes (g/t) Ounces

Measured and
indicated 2,556,000 5.57 457,400 1,764,100 1.89 107,230 1,817,000 1.42 83,000
Inferred 2,669,000 4.35 372,900 460,700 2.50 37,030 847,000 1.15 31,000

(1) Tonnage weighted average grade.

Note: Goldboro includes all three zones described in the technical report titled "Updated Mineral Resource Estimate Technical Report for the Goldboro Property, Guysborough County, Nova Scotia, Canada," with an effective date of Feb. 28, 2017, authored by independent qualified persons Michael P. Cullen, PGeo, and Stewart R.D. Yule, PGeo (Mercator Geological Services Ltd.), and Point Rousse includes the Pine Cove and Stog'er Tight deposits.

Recent developments

Prior to closing of the arrangement, Anaconda already started to work on advancing the Goldboro project. The permitting process has been under way, beginning with an initial meeting with regulatory officials organized by the Nova Scotia mineral development division, the completion of certain environmental studies related to moose and owl surveys, and the preparation for next steps in the process. Anaconda management has also begun community and first nations engagement. In addition, Anaconda initiated work on the Goldboro mineral resource model to optimize it based on its conceptual development plan. Multiple operating plans are currently being evaluated, and the optimal scenario will be determined in the coming months. Anaconda will provide additional updates on its progress as it meets its development milestones going forward.

NI 43-101 resource summary

Anaconda's mineral resource portfolio now includes three mineral projects with current NI 43-101 mineral resources, including the Goldboro project, the Point Rousse project and the Viking project. Mineral resources for each of these projects are summarized in the attached table.

A SUMMARY OF NI 43-101 MINERAL RESOURCES (5) (6)

Goldboro, Nova Scotia
Boston Richardson (1) zone West Goldbrook (1) zone East Goldbrook (1) zone
Grade Grade Grade
Category Tonnes (g/t) Ounces Tonnes (g/t) Ounces Tonnes (g/t) Ounces

Measured 171,000 5.39 29,600
Indicated 1,507,000 5.27 255,400 464,000 5.39 80,400 414,000 6.91 92,000
Inferred 1,083,000 4.56 158,800 459,000 4.42 65,200 1,127,000 4.11 148,900


Point Rousse (PR)/Viking (VK), Newfoundland and Labrador
Stog'er Tight (3)
Pine Cove (2) deposit (PR) deposit (PR) Thor (4) deposit (VK)
Grade Grade Grade
Category Tonnes (g/t) Ounces Tonnes (g/t) Ounces Tonnes (g/t) Ounces

Indicated 1,560,000 1.67 83,690 204,100 3.59 23,540 1,817,000 1.42 83,000
Inferred 208,700 1.57 10,570 252,000 3.27 26,460 847,000 1.15 31,000

(1) Resource stated using a two-gram-per-tonne cut-off as per Orex's technical report referenced
above.
(2) Resource is stated using a 0.7-gram-per-tonne cut-off as per "NI43-101 Technical Report,
Mineral Resource and Mineral Reserve Update on the Pine Cove Mine and Mineral Resource Estimate on
the Stog'er Tight Deposit, Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada,"
with an effective date of Oct. 22, 2015, and authored by independent qualified persons David A.
Copeland, MSc, PGeo (an independent consultant), and Catherine Pitman, PGeo (AMC Mining Consultants
(Canada) Ltd.), and qualified persons David Evans, PGeo (Silvertip Exploration Consultants Inc.),
Paul McNeill, PGeo (Anaconda Mining), and Gordana Slepcev, PEng (Anaconda Mining). The Pine Cove
reserves are reported in the annual information form dated Aug. 29, 2016.
(3) Resource is stated using a 0.8-gram-per-tonne cut-off as per "NI43-101 Technical Report,
Mineral Resource and Mineral Reserve Update on the Pine Cove Mine and Mineral Resource Estimate on
the Stog'er Tight Deposit, Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada,"
with an effective date of Oct. 22, 2015, and independent qualified persons Mr. Copeland and
Ms. Pitman, and qualified persons Mr. Evans, Mr. McNeill and Ms. Slepcev.
(4) Resource is stated using a 0.5-gram-per-tonne cut-off as per "NI 43-101 Technical Report and
Mineral Resource Estimate on the Thor Deposit, Viking Project, White Bay Area, Newfoundland and
Labrador, Canada," with an effective date of Aug. 29, 2016, and authored by independent qualified
persons Mr. Copeland, Dr. Shane Ebert, PhD, PGeo (an independent consultant), and Gary Giroux,
MASc, PEng (Giroux Consultants Ltd.).
(5) Mineral resources that are not mineral reserves do not have demonstrated economic viability.
This estimate of mineral resources may be materially affected by environmental permitting, legal,
title, taxation, socio-political, marketing or other relevant issues.
(6) Mineral resource estimates were prepared in accordance with NI 43-101 and the Canadian
Institute of Mining, Metallurgy and Petroleum standards.

About Anaconda Mining Inc.

Anaconda is a growth-oriented, Atlantic Canada regional gold producer, developer and explorer with a producing project called the Point Rousse project on the Baie Verte peninsula, Newfoundland, and a major development project called the Goldboro project in Nova Scotia. Anaconda also has three other exploration projects called the Viking and Great Northern projects and the Tilt Cove property in Newfoundland. Including all projects, Anaconda controls over 600,000 ounces of measured and indicated gold resources and over 400,000 ounces of inferred gold resources. Approximately 70 per cent of the measured and indicated resources are greater than five grams per tonne, and approximately 85 per cent of the inferred resources are more than four grams per tonne.

Paul McNeill, Anaconda's vice-president of exploration and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical data of Anaconda and Orex contained in this press release.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

[IQ4U]

Anaconda Mining schließt Übernahme von Orex Exploration ab

22.05.2017 | Minenportal.de

Anaconda Mining Inc. und Orex Exploration Inc. meldeten am Freitag den erfolgreichen Abschluss der im März angekündigten Transaktion. Demnach hat Anaconda alle ausgegebenen und ausstehenden Stammaktien von Orex übernommen.

Gemäß Vereinbarung erhielten die Aktionäre von Orex pro Orex-Stammaktie 0,85 einer Anaconda-Stammaktie. Folglich hat Anaconda 172.167.741 Stammaktien an die ehemaligen Aktionäre von Orex ausgegeben.

Mit Abschluss der Transaktion ist Orex nun ein zu 100% eigenes Tochterunternehmen von Anaconda. Die bisherigen Aktionäre von Anaconda halten rund 54,9% an dem zusammengeschlossenen Unternehmen und die ehemaligen Aktionäre von Orex die verbleibenden 45,1%.

Quelle: http://www.goldseiten.de/artikel/332740--Anaconda-Mining-sch…

[bigyawn]

Anaconda appoints Slepcev as COO

2017-05-24 08:09 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING ANNOUNCES APPOINTMENT OF NEW CHIEF OPERATING OFFICER

Anaconda Mining Inc. has appointed Gordana Slepcev, PEng, as chief operating officer of Anaconda Mining Inc., effective May 23, 2017.

President and chief executive officer, Dustin Angelo, stated: "We are very pleased to have Gordana take on this new role at Anaconda. She embodies the core values of the company and possesses an incredible work ethic that has helped propel Anaconda forward. Since joining the company in 2013, Gordana has become an invaluable member of the team, with her hands-on approach in the areas of health and safety, business improvement, and strategic planning. She has a robust background in operations and a track record of increasing productivity in challenging operational environments using innovation and applying new technologies. I look forward to continuing to work with her to achieve our goal of building Anaconda into a leading mid-tier gold producer. I believe that she will continue to flourish in this new position as chief operating officer going forward."

Ms. Slepcev has more than 20 years of experience in mining base metals, coal and gold. With a master's degree in science and a bachelor's degree in mining engineering from the University of Belgrade (former Yugoslavia), faculty of mining and geological engineering, Ms. Slepcev brings invaluable industry expertise to her work with Anaconda.

About Anaconda Mining Inc.

Anaconda is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse project, and three exploration/development projects called the Viking and Great Northern projects and the Tilt Cove property in Newfoundland.

The Point Rousse project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte mining district in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by tenfold on the peninsula and gold production to nearly 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 kilometres of cumulative strike length and include five deposits and numerous prospects and showings, all within eight km of the Pine Cove mill.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

[supideti]

Bei dieser Dilution müssen sie nun zeitnah einen Zeitplan für die Entwicklung von Goldboro vorstellen, ansonsten werde viele enttäuscht sein.
Ich denke, das sich das einige schon bei der Übernahme gewünscht hätten.

[bigyawn]

FP/CP say Atlantic Gold, Anaconda reshape N.S. industry

2017-06-20 09:26 ET - In the News

See In the News (C-AGB) Atlantic Gold Corp

The Financial Post reports in its Tuesday edition that Atlantic Gold boasts four deposits in Nova Scotia's old gold districts. A Canadian Press dispatch to the Post says that the recent rediscovery of the precious metal is helping to revive a dormant industry. The company's Moose River Consolidated project is flourishing after its initial Touquoy mine starts up in September. The company says Touquoy will stamp out 87,000 ounces of gold in its first year -- an indication of the potential riches that have drawn Atlantic Gold and other miners to the interior of the province's Eastern Shore region. At these open-pit mines, tiny bits of gold are found in larger, otherwise unremarkable hunks of ore. The number of provincial exploration licences shot up from 259, covering 35,000 hectares, to 417 licences covering almost 97,000 hectares last year. Meanwhile, Anaconda has purchased a gold mine in Goldboro, 185 kilometres northeast of Halifax, with plans to mine and ship ore from the site to its central processing site in Newfoundland within three years. Nova Scotia's 21st century gold industry differs from the era of underground shafts. The new Moose River mines are open pits the size of multiple football fields.

© 2017 Canjex Publishing Ltd. All rights reserved.

[bigyawn]

Anaconda to find tech for mining steep, narrow Au veins

2017-06-21 08:23 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING PARTNERS IN INNOVATIVE NARROW VEIN MINING RESEARCH PROJECT

Anaconda Mining Inc. has commenced a research and development project to develop, prototype and optimize a new technology to mine steeply dipping narrow gold veins, that cannot be mined cost-effectively with existing technologies.

The Company has subcontracted expertise of the Faculty of Engineering and Applied Science at Memorial University of Newfoundland (MUN) to support the Research Project.

"This narrow vein research and development projects fits with Anaconda's objectives of optimizing mineral resources and maintaining sustainable employment at the Point Rousse Project in the Baie Verte region. Anaconda has narrow vein hosted gold mineralization within our property boundaries. We hope to leverage our culture of innovation, and the expertise at Memorial University to ultimately adapt and create technology that will position this province as global leaders in narrow vein mining." - Allan Cramm, VP Technology & Innovation

While many gold deposits can be effectively mined using current mining technology, there are numerous deposits that despite high grades, present unique challenges with traditional mining methods because of their narrow vein geometry. There are numerous mineralized veins such as this within Newfoundland and Labrador. One example is the Romeo & Juliet prospect ("Romeo and Juliet") at Anaconda's Point Rousse Project, near Baie Verte, NL where the Company has an operating mill. Romeo and Juliet is a steeply dipping, gold-bearing quartz vein ranging in size from approximately 0.5 meters to several meters wide, locally carries significant gold grades and could represent a potential source for gold ore with the right technology. In order to facilitate the mining of this and other similar deposits, the intent of the Research Project is to develop a mining technology to allow for the economic extraction from mineralized narrow veins.

On Friday, June 16, Federal and Provincial representatives announced financial support for the Project. Seamus O'Regan, Member of Parliament for St. John's South-Mount Pearl, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), announced more than $1.5 million for the project through the Atlantic Innovation Fund. The Honourable Cathy Bennett, provincial Minister of Finance, on behalf of the Honourable Christopher Mitchelmore, provincial Minister of Tourism, Culture, Industry and Innovation announced a provincial government investment of more than $520,000 for the initiative through the Research & Development Corporation through the GeoEXPLORE program.

News Release: Anaconda Mining Receives More Than $2 Million Investment for Innovation

Federal and Provincial funding will offset the technical and financial risks of developing and optimizing a Narrow Vein Mining system for use in steeply-dipping narrow gold veins. If successfully developed, this technology has the potential to be used for similar mineral properties owned by Anaconda and other gold deposits throughout Atlantic Canada and the rest of the country.

The Federal ACOA loan of $1.5 million for the project through the Atlantic Innovation Fund is conditionally repayable upon the success of the project. The $520,000 received through the Provincial GeoEXPLORE program is a grant.

ABOUT ANACONDA

Anaconda Mining is a TSX-listed gold mining, exploration and development company, focused in the prospective Atlantic Canadian provinces of Newfoundland and Nova Scotia. The Company operates the Point Rousse Operation located in the Baie Verte Mining District in Newfoundland, comprised of the Pine Cove open pit mine, the fully-permitted Pine Cove Mill and tailings facility, the newly discovered Argyle Deposit, and approximately 6,300 hectares of prospective property. Anaconda is also developing the recently acquired Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company's Point Rousse Operation.

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.