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[IQ4U]

Aus dem Kanadischen Board:

Also from the new presentation: Near-Term Growth Catalysts Numerous Development milestones on course to achieve annual production ~ 50,000–60,000 Oz of gold by 2021

2021 is not far away. I can't imagine the global banking system raising interest rates for many years. Therefore, money will be devalued increasingly for years to come. Gold will only go up. Anaconda is timing this picture perfect if you ask me:-) Read more at https://stockhouse.com/companies/bullboard/t.anx/anaconda-mi…

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[IQ4U]

Schnellere und effizientere Goldproduktion für Goldboro geplant:

Anaconda Mining plans changes to proposed Goldboro mine Company now wants to process gold bars at Eastern Shore site A company that wants to develop a gold mine on the Eastern Shore is making significant changes to its proposal. Anaconda Mining originally planned to create a 125-hectare surface and underground gold mine just outside Goldboro, N.S., about 250 kilometres east of Halifax. The proposal called for ore to be processed on site and then for gold concentrate to be trucked to the company's Point Rousse processing facility near Baie Verte, N.L., via the North Sydney ferry... Quele: https://www.cbc.ca/news/canada/nova-scotia/anaconda-mining-g…

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[IQ4U]

Aus dem Kanadischen Board:

goldking345 December 16, 2019 - 06:50 PM 82 Reads Post# 30461218 Fun with numbers.... Let's say they can get to 150k ounces per year...lets say that the share count goes up to 250 million shares...and let's say gold is $1700 per ounce US in 2 years or so.... Just roughly....say their AISC is $700...that's a $1000 per ounce profit x 150k ounces or $150 million clams...What's that in earnings? .60 cents? Slap a 10x multiple on that and you have a $6 stock...give it a 20x PE and you have a $12 stock Let's say they only get to 100k ounces.....That's $100 million in profit or .40 cents per share...at the same 10x multiple it's a $4 stock at a 20 multiple it's $8 Toss in some debt, dilution an aquisition, some extra expenses....even if the AISC was $800 they are still banking a $90 million per year profit. Be real conservative and figure on .25 cents per share profit....

We're still headed for $2.50 minium to as much as $5 per share

What's the problem here? Patience....This is a serious wealth generator if they execute as planned. We're half way there with Goldboro....the rest is only going to get easier. Quelle: https://stockhouse.com/companies/bullboard/t.anx/anaconda-mi…

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[IQ4U]

Anaconda files Goldboro mineral resource estimate

2019-12-18 12:09 ET - News Release

Mr. Kevin Bullock reports ANACONDA MINING FILES UPDATED RESOURCE ESTIMATE FOR THE GOLDBORO GOLD PROJECT Anaconda Mining Inc. has filed a technical report prepared in accordance with National Instrument 43-101 regarding an updated mineral resource estimate for its 100-per-cent-owned Goldboro gold project in Nova Scotia, Canada. The technical report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.anacondamining.com. The technical report, entitled "Goldboro Gold Project: Resource Update Phase 2, Guysborough County, Nova Scotia" and which is dated December 18, 2019, and with an effective date of August 21, 2019, was authored by independent qualified persons Todd McCracken, P.Geo. of WSP Canada Inc. and Robert Raponi, P. Eng., of Ausenco Engineering Canada Inc. A portion of the 2019 diamond drilling (BR-19-77 to BR-19-85 totaling 603 m) on the Project was funded by the Government of Nova Scotia through a Mineral Resources Development Fund, through a shared funding exploration grant MRDF-2019-SF-053. This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", and Todd McCracken, P. Geo., Manager - Mining, WSP Canada Inc., an "Independent Qualified Person" under National Instrument 43-101 Standard for Disclosure for Mineral Projects. ABOUT ANACONDA Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study. We seek Safe Harbor. 2019 Canjex Publishing Ltd. All rights reserved.

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[IQ4U]

Anaconda Mining Announces Positive Results From Goldboro Bulk Sample Program

[16-January-2020] TORONTO, Jan. 16, 2020 /CNW/ -

Anaconda Mining Inc. ("Anaconda" or the "Company") (ANX: TSX) (OTCQX: ANXGF) is pleased to announce the results of an underground bulk sample program (the "Bulk Sample") undertaken at its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") located in Nova Scotia, Canada. The objectives of the Bulk Sample were to confirm the geological interpretation of the deposit, test for spatial and grade continuity of the mineralized structures, validate key assumptions of the updated Mineral Resource model, and test certain types of mining methods. Key Takeaways of the Bulk Sample •Successfully tested a large area within the 2019 Mineral Resource Estimate1 with respect to continuity of gold grade and geological interpretation, confirming the position and continuity of mineralized zones; •The average diluted mine grade based on grade control samples2 of 3.51 g/t gold reconciles well with the average undiluted grade of the Mineral Resource block model of 3.81 g/t gold in the area of the Bulk Sample (both capped at 80 g/t); •The average head grade of 3.81 g/t gold from the Pine Cove Mill shows a positive reconciliation of 8.5% to the mine grade of 3.51 g/t gold, demonstrating an upside bias within an acceptable range; •High gravity recovery of 51%, confirming metallurgical test work; and •Demonstration of excellent ground conditions through test mining and successful testing of certain underground mining methods to optimally extract the Mineral Resource. Quelle: http://crweworld.com/article/news-provided-by-pr-newswire/13…

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[IQ4U]

Anaconda produces 15,211 oz Au at Point Rousse in 2019

2020-01-22 07:35 ET - News Release

Mr. Kevin Bullock reports ANACONDA MINING ANNOUNCES Q4 AND FULL YEAR 2019 PRODUCTION RESULTS AND PROVIDES 2020 GUIDANCE Anaconda Mining Inc. has released production results and certain financial information for the three months and year ended Dec. 31, 2019. The company expects to file its full audited annual financial statements and management discussion and analysis by March 2, 2020. During the fourth quarter of 2019, the company processed the Goldboro bulk sample at its Pine Cove mill (see press release dated Jan. 16, 2020). Fourth quarter and annual mill statistics are presented both including the bulk sample and on a Point Rousse stand-alone basis. Proceeds from gold recovered and sold from the bulk sample will be recorded as a credit against the Goldboro exploration and evaluation asset, and the related processing costs at the Pine Cove mill will also be reallocated to the Goldboro asset on a proportionate basis. 2019 highlights: Anaconda sold 16,362 ounces of gold in 2019 from production at the Point Rousse complex, generating metal revenue of $29.5-million at an average sales price of $1,804 ($1,360 (U.S.)) per ounce of gold. As at Dec. 31, the company also had over 420 ounces in gold dore inventory, which was subsequently sold in January. The company also sold 903 ounces in 2019 from the processing of the Goldboro bulk sample at the Pine Cove mill, generating a further $1.8-million in proceeds that will be recorded as a credit against the Goldboro asset. Anaconda produced 15,211 ounces of gold in 2019 at the Point Rousse complex, below its revised guidance of 16,000 to 17,000 ounces due to increased throughput time for the bulk sample to maximize recovery, displacing Pine Cove ore, and lower grades in the fourth quarter of 2019 due to changes in mine sequencing. The Pine Cove mill achieved annual throughput of 401,499 tonnes during 2019, including 9,785 tonnes from the bulk sample, down from 2018 due to low mill availability in the second quarter resulting from unplanned maintenance of the regrind mill and the decision to accelerate other maintenance programs to minimize future downtime. Mine operations moved 413,139 tonnes of ore during the year at an average grade of 1.54 grams per tonne at a strip ratio of 4.3 waste tonnes to ore tonnes. The company extended the amortization of its term loan with Royal Bank of Canada, providing enhanced financial flexibility as the company continues to advance the Goldboro gold project and Tilt Cove project. As at Dec. 31, 2019, the company had a cash balance of $4.4-million, preliminary working capital of $2.7-million, and additional available liquidity of $1-million from an undrawn revolving line of credit facility. "While 2019 had its challenges at the Point Rousse complex, Anaconda is pleased that the mine and mill operations are back on track and the company was able to sell 16,362 ounces of gold during the year to generate $29.5-million in revenue. With the critical investments made in the mill, a strengthened operations management team and improved preventative maintenance programs, Point Rousse is well positioned entering 2020 where we are guiding to produce 18,000 to 19,000 ounces of gold from continued mining in the Pine Cove pit. We continue to advance the Argyle project and plan to commence development in the middle of 2020, with production expected to start in early 2021. We are also pleased to have restructured our term loan with the Royal Bank of Canada, which, together with our cash position at the end of 2019 and ongoing cash flow generation from the Point Rousse complex, position us to advance the high-grade Goldboro gold project to a shovel-ready state and to execute a robust exploration drill program at our prospective Tilt Cove gold project," said Kevin Bullock, president and chief executive officer, Anaconda Mining. 2020 guidance Anaconda is projecting to produce and sell between 18,000 and 19,000 ounces of gold in 2020, which, at a budgeted gold price of $1,800 (approximately $1,350 (U.S.)), will generate approximately $33.3-million of revenue. Mill feed in 2020 will be exclusively from mining in the Pine Cove pit, as the company has continued to successfully expand the mining operations at Pine Cove, which is well understood geologically and from a mining perspective, limiting technical risk. The company continues to progress the Argyle project, where infill drilling is ongoing, with development expected to commence towards the middle of 2020. The company has now received a mining lease for Argyle and has submitted the development and rehabilitation plan for review by the Department of Natural Resources in Newfoundland. Operating cash costs per ounce for the full year are expected to be between $1,050 and $1,100 per ounce of gold sold ($775 (U.S.) to $825 (U.S.) at an approximate exchange rate of 0.75), which is consistent with historical levels for the Point Rousse complex, although expected to be higher earlier in 2020 due to the grade profile of the mine plan. OPERATING STATISTICS FOR THE THREE MONTHS AND YEAR ENDED DEC. 31, 2019 Three months Three months ended ended Year ended Year ended Dec. 31, 2019 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2018 Mine statistics Ore production (tonnes) 123,302 99,998 413,139 328,291 Waste production (tonnes) 518,698 300,952 1,771,408 1,288,306 Total material moved (tonnes) 642,000 400,950 2,184,547 1,616,597 Waste:ore ratio 4.2 3.0 4.3 3.9 Mill statistics -- including bulk sample Availability (%) 97.1 93.7 89.6 96.0 Dry tonnes processed 110,474 110,547 401,499 461,439 Tonnes per day (tpd) 1,236 1,282 1,228 1,317 Grade (grams per tonne) 1.49 1.93 1.52 1.56 Recovery (%) 83.1 89.1 82.3 86.7 Gold ounces recovered 4,411 6,125 16,181 20,149 Gold ounces sold 4,209 6,120 17,265 19,290 Excluding the operating results from the bulk sample, the Pine Cove mill statistics specifically for production from the Point Rousse complex are as shown in the associated table. Dry tonnes processed 100,689 110,547 391,714 461,439 Tonnes per day (tpd) 1,318 1,282 1,248 1,317 Grade (grams per tonne) 1.27 1.93 1.46 1.56 Recovery (%) 84.0 89.1 82.8 86.7 Gold ounces produced 3,441 6,125 15,211 20,149 Gold ounces sold 3,306 6,120 16,362 19,290 Operations overview for the year ended Dec. 31, 2019 Anaconda sold 17,265 ounces of gold in 2019 to generate metal revenue of $29.5-million at an average realized gold price of $1,804 per ounce ($1,360 (U.S.)), including 903 ounces from the bulk sample. During the fourth quarter, the company sold 3,306 ounces of gold from production from the Point Rousse complex, generating metal revenue of $6.5-million at an average realized gold price of $1,966 per ounce ($1,489 (U.S.)). Anaconda generated a further $1.8-million in proceeds from gold recovered and sold from the bulk sample. As at Dec. 31, 2019, the company had over 420 ounces of gold dore inventory, which was sold in January. The Point Rousse complex produced 15,211 ounces of gold during 2019, below the revised guidance of 16,000 to 17,000 ounces of gold. The underperformance relative to guidance was mainly the result of a slower-than-planned throughput rate for the bulk sample to maximize recovery, which displaced Pine Cove ore, and lower grades during the fourth quarter as slope conditions required a change to mine sequencing. The company does not anticipate such issue going forward as the required stripping for the pushback in the Pine Cove pit was completed in 2019. Point Rousse mill operations The Pine Cove mill processing facility re-established itself as a cornerstone asset of the company, after a challenging first half of the year when unplanned maintenance of the regrind mill impacted mill availability, which in turn impacted throughput and recovery. Anaconda took the opportunity to accelerate other planned maintenance programs, invest in critical spares, bolster preventative maintenance programs and appoint experienced senior mining leadership to minimize future mill downtime and ensure the sustainability of the operation. The Pine Cove mill has returned to consistent operations, milling a total of 110,474 tonnes during the fourth quarter, including 9,875 tonnes from the bulk sample. Mill throughput has continued to increase since the company addressed second quarter challenges, achieving 1,282 tonnes per day in the third quarter and further increasing to 1,318 tonnes per day in the fourth quarter for Pine Cove mill feed (noting that the mill throughput rate was purposely slowed for the processing of the bulk sample to maximize recoveries on Goldboro material). Similarly, mill availability returned to historical levels of 97 per cent for the second half of the year, up significantly from 85.8 per cent in the second quarter of 2019. Average grade during the fourth quarter was 1.27 g/t from ore feed predominantly from Pine Cove, lower than planned due to a change in the mine sequence, and a decrease compared with the corresponding period of 2018 when mill feed was predominantly from the higher-grade Stog'er Tight mine. The mill achieved an average recovery rate for Point Rousse ore feed of 84.0 per cent during the fourth quarter, a significant increase from 74.7 per cent in the second quarter of 2019, resulting in quarterly gold production of 3,441 ounces. Including the mill throughput from the bulk sample, the Pine Cove mill recovered 4,411 ounces of gold at an overall average recovery rate of 83.1 per cent during Q4 2019. Point Rousse mine operations During the fourth quarter, the mine operation produced 123,302 tonnes of ore mainly from the Pine Cove pit and some residual mining at Stog'er Tight, an 8-per-cent decrease from Q3 2019 as slope conditions on the western wall resulted in a change to mine sequencing, which also impacted the mined grade and the total material moved for the quarter. In general, mined tonnes have increased in the third and fourth quarters of 2019 compared with the first half of the year, when mining activity was focused at Stog'er Tight and on the development of the Pine Cove pit. The mine operations achieved a strip ratio of 4.2 waste tonnes to ore tonnes in Q4 2019, consistent with the third quarter when mine activity transitioned from development in the first half of the year into mine production. In 2020, the strip ratio for Pine Cove pit production is expected to decrease further. As at Dec. 31, 2019, the mine operation had stockpiled over 57,950 tonnes of ore with an estimated average grade of 1.31 g/t. Going forward into 2020, the mine operations will remain focused on production from the south and southwest areas of the Pine Cove pit. Royal Bank term loan The company is also pleased to announce that it has extended the amortization period on its term loan with Royal Bank of Canada to April, 2022. The amended term loan will provide the company with enhanced financial flexibility in 2020 as it continues to advance the Goldboro gold project and the Tilt Cove gold project. The term loan continues to have the support of Export Development Canada (EDC), which has issued a performance guarantee over half of the outstanding amount. The term loan carries a fixed interest rate of 4.6 per cent and performance guarantee fee by EDC of 1.85 per cent, payable quarterly based on the proportional amount outstanding. As at Dec. 31, 2019, there was $3.4-million outstanding on the term loan. Qualified person Gordana Slepcev, PEng, chief operating officer, Anaconda Mining, is a qualified person as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release. About Anaconda Mining Inc. Anaconda is a Toronto Stock Exchange- and OTCQX-listed gold mining, development and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte mining district of Newfoundland which includes the fully permitted Pine Cove mill, tailings facility and deepwater port, as well as about 11,000 hectares of highly prospective mineral lands including those adjacent to the past-producing, high-grade Nugget Pond mine at its Tilt Cove gold project. Anaconda is also developing the Goldboro gold project in Nova Scotia, a high-grade resource and the subject of a continuing feasibility study. We seek Safe Harbor. 2020 Canjex Publishing Ltd. All rights reserved.

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[IQ4U]

Anaconda Mining Announces Management Changes

TORONTO, ON / ACCESSWIRE / February 6, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is today announcing that as a result of restructuring activities to facilitate the next stages of the development of the Goldboro Gold Project, Gordana Slepcev has stepped down from the position of Chief Operating Officer. Given the advanced stages of the Goldboro Gold Project and the related Feasibility Study, as well as the strong general management and mine and mill performance at the Company's Point Rousse Complex in Newfoundland, the Company has no plans to fill this position at this time.

"I want to thank Gordana for her commitment and contributions to Anaconda Mining over the past six plus years, and wish her well in her future endeavours."

~ Kevin Bullock, President and CEO at Anaconda Mining Inc.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2018, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Public Relations
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]


SOURCE: Anaconda Mining Inc

https://www.anacondamining.com/prviewer/release_only/id/4222…


View source version on accesswire.com:
https://www.accesswire.com/575440/Anaconda-Mining-Announces-…

[IQ4U]

Anaconda Mining Initiates 9,500 Metre Drill Program At It's Tilt Cove and Point Rousse Projects

TORONTO, ON / ACCESSWIRE / February 27, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce a 9,500 metre drill program on priority exploration targets at the Tilt Cove Gold Project ("Tilt Cove") and the Point Rousse Project ("Point Rousse") (the "Winter Exploration Program"). Both projects are located within the Baie Verte Mining District in Newfoundland, and benefit from proximity to the Company's operating Pine Cove Mill and permitted in-pit tailings facility.

The Winter Exploration Program will comprise a combination of 8,000 metres of diamond drilling and 1,500 metres of percussion drilling, including:
•A 4,000 metre diamond drill program at Tilt Cove to test priority targets, particularly beneath frozen lakes (ponds), with the goal of discovering a Nugget Pond-style gold deposit. Priority targets associated with down-ice gold in soil anomalies, geophysical anomalies and similar host rocks to the Nugget Pond Mine include West Pond, East Pond, Red Cliff Pond and Long Pond.
•A 1,500 metre diamond drill program and a 1,000 metre percussion drill program at the Argyle Deposit at the Point Rousse Project, focused on infill and expansion drilling to support the development plan.
•A 500 metre diamond drill plan at the Pine Cove Pit to test the potential for expansion at the south side of the Pine Cove Pit. Recent percussion drilling in the area indicate there are mineralized zones outside of the current resource model and that the area may be open for further expansion of resources.
•A program of 1,500 metres of infill and expansion diamond drilling and a 500 metre percussion drill program to test the 278 Zone, located 500 metres southwest of the Stog'er Tight Mine.
•At Pine Cove East, 500 metres of diamond drilling to test three IP anomalies in similar rocks to those hosting the Pine Cove Deposit located one kilometre east of the Pine Cove Mill.

"Our exploration strategy is to discover high-grade resources in the Baie Vert Mining District and leverage our Pine Cove Mill and permitted tailings capacity. The Winter Exploration Program at Tilt Cove provides a unique opportunity to efficiently drill test high-grade targets at West Pond, East Pond and Red Cliff Pond by drilling from the frozen ponds. These untested targets, which are coincident with the Nugget Pond Horizon, cover a cumulative 3.3 kilometres of strike extent that is largely covered by ponds. Each of these targets have similar geological and geophysical signatures to the nearby high-grade Nugget Pond Mine. At Point Rousse, we believe there continues to be opportunity to extend the mine life of our operations, and drilling will be focused on infill and expansion of mineral resources at the Argyle Deposit and the Pine Cove Mine. We will also be testing the potential for discoveries at the 278 Zone near the Stog'er Tight Mine and Pine Cove East, all proximal to the Pine Cove Mill."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Tilt Cove Drilling Program

The Tilt Cove Project is a significant, recently consolidated land package encompassing the same geological trend as the past producing, high-grade Nugget Pond Mine, which had an average recovered grade of 9.85 grams per tonne ("g/t") gold. Tilt Cove covers a 20-kilometre strike extent of the Betts Cove Complex, a highly prospective geological terrane that includes the Nugget Pond Horizon ("NPH"). The NPH is an iron-rich sedimentary unit that hosts the past-producing Nugget Pond Mine (Exhibit A) and is located approximately 45 kilometres east of the Pine Cove Mine and Mill Complex.

The Winter Exploration Program follows the initial trenching and drilling announced on November 27, 2019. This short program included trenching and 371 metres of diamond drilling in five holes at the Growler Showing and was cut short due to weather constraints and site conditions. Results from this initial program are expected to be available in Q1 of 2020.

Priority targets to be tested by 4,000 metres of diamond drilling at Tilt Cove include:
•The West Pond Target - 1,000 metres of drilling is designed to test a portion of a 1.3-kilometre long target beneath West Pond. Drilling will test a section of the NPH associated with a zone of low magnetic intensity or magnetic break and gold-in-soil anomalies located to the southeast in a down-ice glacial direction.
•The Red Cliff Pond Target - 1,000 metres of drilling is designed to test a portion of a 1.2-kilometre long target beneath Red Cliff Pond. Drilling will test magnetic breaks along the NPH where previous exploration has outlined grab samples assaying up to 5.56 g/t gold and historic drillholes assaying 1.92 g/t gold over 4.3 metres (ddh 77597).
•East Pond Target - 1,000 metres of drilling is designed to test a 800-metre long target at East Pond. Drilling will test magnetic breaks along the NPH from the shoreline and from the ice where historic drilling has intersected footwall mineralization similar to the Nugget Pond Mine including 5.74 g/t gold over 0.5 metres (RCP-97-01); 10.30 g/t gold over 0.5 metres (RCP-97-02); 1.16 g/t gold over 3.4 metres (RCP-97-02); and 4.90 g/t gold over 0.5 metres (RCP-98-01).
•Long Pond Target - 1,000 metre of drilling is designed to test a portion of a 4.0-kilometre long alteration zone and associated magnetic and induced polarization anomalies at the contact between ultramafic and younger felsic volcanic rocks. The Long Pond Target includes six gold (+/- copper) prospects over its strike length that includes Long Pond Prospect. The Long Pond Prospect comprises an altered and mineralized zone exposed over a 125 metre strike length is up to 35 metres wide, with individual quartz veins up to 2-metres wide. Grab samples from the prospect have returned assays up to 75.90 g/t gold with abundant visible gold. Historic drilling has returned assays of up to 21.5 g/t gold over 1.19 metres (ddh 77502).

Point Rousse Drilling Program

The Point Rousse Project includes the prospective gold trend know as the Scrape Trend, which includes three deposits at Pine Cove, Stog'er Tight, Argyle, in addition to numerous prospects and showings, all located within eight kilometres of the operating Pine Cove Mill. Anaconda has been mining at the Pine Cove Mine continuously for more than 10 years and has developed significant mining infrastructure including the Pine Cove Mill, an in-pit tailings facility with a 15-year life at current throughput rates, and a deep-water port.

Priority targets to be tested by 4,000 metres of diamond drilling and 1,500 metres of percussion drilling within the Scrape Trend of the Point Rousse Project include:
•Argyle Deposit - 1,500 metres of diamond drilling and 1,000 metres of percussion drilling are designed to infill and expand on the Argyle Deposit.
•Pine Cove Mine - 500 metres of infill and expansion drilling will test shallow mineralization (< 30 vertical metres) for open-pit expansion at the south side of the Pine Cove Mine. Drilling is being completed to verify percussion results and to support continuing expansion of the Pine Cove Mine.
•278 Zone (Stog'er Tight Mine) - 1,500 metres of diamond drilling and 500 metres of percussion drilling are designed to infill and expand the 278 Zone, located 500 metres southwest of the Stog'er Tight Mine. Previous drilling at the 278 Zone returned assays 1.28 g/t gold over 8.8 metres (BN-16-278; see news release dated October 27, 2016).
•Pine Cove East - 500 metres of diamond drilling to test three IP anomalies in similar rocks to those hosting the Pine Cove Deposit located 1 kilometre east of the Pine Cove Mine.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

Grab samples and composited assays from historical drill core are compiled from historic reports and data filed with the Department of Natural Resources, Newfoundland and Labrador. Sufficient work has not been completed by Anaconda geologists and QPs to verify the validity of these composited assays.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2018, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Public Relations
[phone]
[e-mail]



Exhibit A. A map showing the location of high priority exploration targets including the West Pond, East Pond, Red Cliff Pond and Long Pond. Gold-in-soil anomalies are shown in black polygons and are located down-ice (southeast) of the Nugget Pond and Red Cliff Horizons where drill target areas at West Pond and Redcliff Pond are located. The Nugget Pond Deposit was situated immediately up-ice of a similar gold-in-soil anomaly.



Exhibit B. A map showing the location of high priority exploration targets including the Argyle, 278 Zone (Stog'er Tight Mine), Pine Cove and Pine Cove East targets.

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4244…

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Anaconda MINING REPORTS Fourth QUARTER and Full Year 2019 Financial Results; GENERATES $9.9 Million in EBITDA From the Point Rousse COMPLEX

TORONTO, ON / ACCESSWIRE / March 2, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to report its financial and operating results for the three months and year ended December 31, 2019 ("Q4 2019"). The Company's audited consolidated financial statements, management discussion & analysis, and annual information form can be found at www.sedar.com and the Company's website, www.anacondamining.com. All dollar amounts are in Canadian dollars unless otherwise noted.

Highlights for the Year Ended December 31, 2019
•Anaconda sold 16,362 ounces of gold in 2019 from production at the Point Rousse Complex, generating metal revenue of $29.5 million at an average sales price* of C$1,804 (US$1,360) per ounce of gold.
•The Company also sold 903 ounces from the processing of the Goldboro Bulk Sample at the Pine Cove Mill in Q4 2019, generating a further $1.8 million in proceeds.
•Anaconda produced 15,211 ounces of gold in 2019 at the Point Rousse Complex, below its revised guidance of 16,000 to 17,000 ounces due to increased throughput time for the Bulk Sample to maximize recovery, displacing Pine Cove ore, and lower grades in Q4 2019 due to changes in mine sequencing.
•Operating cash costs per ounce sold* at the Point Rousse Project in Q4 2019 were $1,371 (US$1,039), and $1,165 (US$878) for the year ended December 31, 2019, below the Company's revised annual guidance of $1,325 and $1,375 per ounce of gold sold as a result of better than planned throughput and grade in Q3 2019.
•All-in sustaining cash costs per ounce sold*, including corporate administration and sustaining capital expenditures, was $1,693 (US$1,282) for Q4 2019, and $1,655 (US$1,247) for the full year.
•In 2019, the Company invested $10.9 million in its exploration and development projects, including $9.2 million on the Goldboro Gold Project in Nova Scotia relating to the feasibility study, permitting, the bulk sample, and ongoing diamond drilling programs.
•The Point Rousse Complex generated EBITDA* of $1.6 million in Q4 2019 and $9.9 million for the year ended December 31, 2019, compared with $2.9 million and $12.2 million for the respective 2018 periods.
•Net income for the year ended December 31, 2019 was $373,047, or $0.00 per share, compared to net loss of $1,693,413, or $0.01 per share, for the year ended December 31, 2018.
•The Company extended the amortization of its term loan with the Royal Bank of Canada, providing enhanced financial flexibility as the Company continues to advance the Goldboro Gold Project and Tilt Cove Project.
•As at December 31, 2019, the Company had a cash balance of $4.4 million, working capital* of $2.7 million, and additional available liquidity of $1,000,000 from an undrawn revolving line of credit facility.

*Refer to Non-IFRS Measures section below. A full reconciliation of Non-IFRS Measures can be found in the Management Discussion and Analysis as at and for the year ended December 31, 2019.

"Anaconda is pleased to announce another solid financial year from mining operations at the Point Rousse Complex, achieving project-level EBITDA of $9.9 million and generating operating cash flows of over $4.3 million. We ended the year with a strong liquidity position including $4.4 million in cash, and 2020 is off to strong start with production at Point Rousse above plan and record Canadian dollar gold prices. Anaconda's strong financial position, continued cash flow, and operating infrastructure provide the platform for growth, as we target 150,000 ounces of gold production in the next three to five years. In 2020, we will advance towards our goal with continued gold production at the Point Rousse Complex, the advancement of the Goldboro Gold Project, and executing our drill programs at the exciting Tilt Cove Gold Project."

~Kevin Bullock, President and Chief Executive Officer, Anaconda Mining Inc.

Consolidated Results Summary


Financial Results

Three months

ended

December 31, 2019

Three months ended

December 31, 2018

Year

ended

December 31, 2019

Year

ended

December 31, 2018


Revenue ($)
6,506,722 6,759,181 29,547,682 31,731,136

Cost of operations, including depletion and depreciation ($)
4,919,066 8,490,772 22,690,028 25,826,099

Mine operating income ($)
1,587,656 1,268,409 6,857,654 5,905,037

Net income (loss) ($)
(229,778) (356,333 ) 373,047 (1,693,413 )

Net income (loss) per share ($/share) - basic and diluted ($)
(0.00) (0.00 ) 0.00 (0.01 )

Cash generated from operating activities ($)
(209,207) 3,385,823 4,372,224 8,894,347

Capital investment in property, mill and equipment ($)
133,609 284,911 2,181,896 2,023,857

Capital investment in exploration and evaluation assets ($)
1,451,810 4,057,912 10,943,829 8,024,095

Average realized gold price per ounce*
US$1,489 US$1,207 US$1,360 US$1,265

Operating cash costs per ounce sold*
US$1,039 US$805 US$878 US$755

All-in sustaining cash costs per ounce sold*
US$1,282 US$1,014 US$1,247 US$1,074




December 31, 2019 December 31, 2018


63,757,965 57,942,367


6,903,274 5,290,646




*Refer to Non-IFRS Measures section for reconciliation

During the fourth quarter of 2019, the Company processed the Goldboro Bulk Sample (the "Bulk Sample") at its Pine Cove Mill (see press release dated January 16, 2020). Fourth quarter and annual mill statistics are presented both including the Bulk Sample, and on a Point Rousse stand-alone basis. Proceeds from gold recovered and sold from the Bulk Sample were recorded as a credit against the Goldboro exploration and evaluation asset, and the related processing costs at the Pine Cove Mill were also reallocated to the Goldboro asset on a proportionate basis.


Operational Results

Three months ended

December 31, 2019

Three months ended

December 31, 2018

Year

ended

December 31, 2019

Year

ended

December 31, 2018


Ore milled (t) - including Bulk Sample
110,474 110,547 401,499 461,439

Grade (g/t Au)
1.49 1.93 1.52 1.56

Recovery (%)
83.1 89.1 82.3 86.7

Gold ounces recovered
4,411 6,125 16,181 20,149

Gold ounces sold
4,209 6,120 17,265 19,290

Excluding the operating results from the Bulk Sample, the Pine Cove Mill Statistics specifically for production from the Point Rousse Complex are as follows:


Operational Results

Three months ended

December 31, 2019

Three months ended

December 31, 2018

Year

ended

December 31, 2019

Year

ended

December 31, 2018


Ore milled (t)
100,689 110,547 391,714 461,439

Grade (g/t Au)
1.27 1.93 1.46 1.56

Recovery (%)
84.0 89.1 82.8 86.7

Gold ounces produced
3,441 6,125 15,211 20,149

Gold ounces sold
3,306 6,120 16,362 19,290

2020 Guidance

Anaconda is projecting to produce and sell between 18,000 and 19,000 ounces of gold in 2020. Mill feed in 2020 will be exclusively from mining in the Pine Cove Pit, as the Company has continued to successfully expand the mining operations at Pine Cove, which is well understood geologically and from a mining perspective, limiting technical risk. The Company continues to progress the Argyle Project, where infill drilling is ongoing, with development expected to commence towards the middle of 2020. The Company has now received a Mining Lease for Argyle and has submitted the development and rehabilitation plan for review by the Department of Natural Resources in Newfoundland. Operating cash costs per ounce for the full year are expected to be between $1,050 and $1,100 per ounce of gold sold (US$775 - US$825 at an approximate exchange rate of 0.75), which is consistent with historical levels for the Point Rousse Complex, although expected to be higher earlier in 2020 due to the grade profile of the mine plan.

Review of the Year Ended December 31, 2019

Operational Overview

The Point Rousse Complex produced 15,211 ounces of gold during 2019, coming in below the revised guidance of 16,000 to 17,000 ounces of gold, mainly due to a slower than planned throughput rate for the Bulk Sample to maximize recovery (which displaced Pine Cove ore) and lower grades during the fourth quarter as slope conditions required a change to mine sequencing.

The Pine Cove Mill processed 401,499 tonnes during 2019, including 9,875 tonnes from the Bulk Sample, a decrease of 15.1% compared to 2018 largely due to the challenges in the second quarter, when unplanned maintenance of the regrind mill impacted mill availability, which in turn impacted throughput and recovery. Mill availability has returned to historical levels of 97% in the second half of the year, up significantly from 85.8% in Q2 2019.

Average grade from production from the Point Rousse Complex in 2019 was 1.46 g/t, down 6.4% from 2018 when mill feed was predominantly from the higher grade Stog'er Tight Mine. The average grade in 2019 was also impacted by lower than planned grade in the fourth quarter due to a change in the mine sequence. The mill achieved an average recovery rate of 82.8% in 2019, excluding the impact of the Bulk Sample, a significant decrease from 2018 due to the challenges in Q2 2019 when the recovery rate was 74.7%.

Mine operations moved 413,139 tonnes of ore during the year at an average grade of 1.54 g/t and a strip ratio of 4.3 waste tonnes to ore tonnes. In general, mined tonnes have increased in the third and fourth quarters of 2019 compared to the first half of the year, when mining activity was focused at Stog'er Tight and on the development of the Pine Cove Pit. Tonnes of ore produced increased 26% and total material moved increased 35% compared to 2018, when mining was focused on the lower-tonnage profile Stog'er Tight Mine. In 2020, mine production will remain focused on production from the south and southwest areas of the Pine Cove Pit, with the strip ratio expected to decrease over the year.

Financial Results

Anaconda sold 16,362 ounces of gold in 2019 from Point Rousse to generate metal revenue of $29.5 million at an average realized gold price of C$1,804 per ounce (US$1,360). Anaconda generated a further $1,773,091 in proceeds from the 903 ounces of gold recovered and sold from the Bulk Sample that was recorded as a credit against the Goldboro asset. As at December 31, 2019, the Company had over 420 ounces of gold doré inventory, which was sold in January.

Operating expenses for the year ended December 31, 2019 were $18,648,582, compared to $18,626,974 in the year ended December 31, 2018. Operating expenses for 2019 included mining costs of $9,366,509, and increase from $7,005,663 in the previous year, as the Company moved 35% more material in 2019 while mining in the Pine Cove Pit. Processing costs in 2019 were $8,923,013, a decrease from $9,428,149 in 2018 mainly related to 15% less mill throughput. Operating expenses were also impacted by an inventory adjustment credit of $995,977 due to the build-up in inventory at December 31, 2019. Operating cash costs per ounce sold during 2019 were C$1,165 (US$878), below the Company's revised 2019 annual operating cash cost guidance of C$1,325-C$1,375 as a result of better than planned throughput and grade in the second half of 2019.

The royalty expense for 2019 was $443,325, an increase over 2018 as a greater proportion of production was from Stog'er Tight, which carries a 3% net smelter royalty. Depletion and depreciation for the year ended December 31, 2019 was $3,608,121, a significant decrease from 2018 due to the continued expansion of the mine life at Pine Cove, which results in a higher denominator for depletion and depreciation on a units-of-production basis relative to the denominator used in the fourth quarter of 2018.

Mine operating income for the year ended December 31, 2019 was $6,857,654, an increase from mine operating of $5,905,037 in 2018, mainly due to lower depletion and depreciation offsetting lower revenue due to the displacement of Point Rousse ore from the processing of the Bulk Sample.

Corporate administration expenditures were $4,373,751 during 2019, an increase over 2018 as the result of one-time severance costs incurred as part of the Company's ongoing effort to streamline costs and renew its focus on increasing its production profile. The Company also recorded research and development costs of $592,942 in 2019 relating to the research and a potential field trial for the narrow vein mining research project, as well as other research initiatives such as tailings repurposing.

Share-based compensation was $861,429 during the year ended December 31, 2019, compared to $544,560 in the comparative 2018 period. The increase reflects the higher fair value and vesting expense of the share units granted during the first half of 2019.

Finance expense for the year ended December 31, 2019 was $417,072, significantly higher than 2018 as a result of the $5 million term loan entered into with the Royal Bank of Canada ("RBC") in March 2019, which carries an interest rate of 4.6%.

Net comprehensive income for the year ended December 31, 2019, was $373,047, or $0.00 per share, compared to net comprehensive loss of $1,693,413, or $0.01 per share, in the comparative period of 2018. The improvement from the prior year was driven by higher mine operating in 2019 and a net income tax recovery of $41,000 as a result of the significantly higher gold price environment (2018 - net income tax expense of $1,624,445).

Review of Fourth Quarter 2019 Results

Operational Overview

Gold production of 3,441 from the Point Rousse Complex in Q4 2019 was lower than plan, mainly the result of a slower than planned throughput rate for the Bulk Sample to maximize recovery (which displaced Pine Cove ore), and lower grades during the fourth quarter as slope conditions required a change to mine sequencing.

The Pine Cove Mill has returned to consistent operations, milling a total of 110,474 tonnes during the fourth quarter, including 9,875 tonnes from the Bulk Sample. Mill throughput has continued to increase since the Company addressed second quarter challenges, achieving 1,318 tonnes per day in the fourth quarter for Pine Cove mill feed (noting that the mill throughput rate was purposely slowed for the processing of the bulk sample to maximize recoveries on Goldboro material). Average grade during the fourth quarter was 1.27 g/t from ore feed predominantly from Pine Cove, lower than planned due to a change in the mine sequence, and a decrease compared to the corresponding period of 2018 when mill feed was predominantly from the higher grade Stog'er Tight Mine. The mill achieved an average recovery rate for Point Rousse ore feed of 84.0% during the fourth quarter, a significant increase from 74.7% in Q2 2019, resulting in quarterly gold production of 3,441 ounces. Including the mill throughput from the Bulk Sample, the Pine Cove Mill recovered 4,411 ounces of gold at an overall average recovery rate of 83.1% during Q4 2019.

The mine operation produced 123,302 tonnes of ore in Q4 2019 mainly from the Pine Cove Pit and some residual mining at Stog'er Tight, an 8% decrease from Q3 2019 as slope conditions on the western wall resulted in a change to mine sequencing, which also impacted the total material moved for the quarter. In general, mined tonnes have increased in the second half of 2019 compared to the first half of the year, when mining activity was focused at Stog'er Tight and on the development of the Pine Cove Pit.

Financial Results

During the fourth quarter, the Company sold 3,306 ounces of gold from production from the Point Rousse Complex, generating metal revenue of $6,506,722 at an average realized gold price of C$1,966 per ounce (US$1,489). Anaconda generated a further $1,773,091 in proceeds from gold recovered and sold from the Bulk Sample. Gold revenue was 33% lower compared to Q4 2018 due to 46% decrease in ounces sold from Point Rousse, which was partially offset by a 23% increase in the price of gold.

Operating expenses were $4,498,317 during Q4 2019, a decrease from $6,215,098 in the fourth quarter of 2018. The higher operating expenses in the prior year were the result of higher relative haulage costs at Stog'er Tight, and higher mill throughput which resulted in higher processing costs. Furthermore, the operating expenses in Q4 2019 were impacted by an inventory adjustment credit of $995,977 due to the build-up in inventory at December 31, 2019. Operating cash costs per ounce sold in Q4 2019 were $1,371 (US$1,039), compared to $1,063 (US$805) in the prior period, primarily due to the decrease in ounces sold and higher strip ratio in the most recent quarter. The royalty expense of $42,825 during the fourth quarter was down significantly from Q4 2018, when production was predominantly from Stog'er Tight, which carries a 3% net smelter return royalty. Depletion and depreciation for Q4 2019 was $377,924, representing a significant decrease from Q4 2018 due to the continued expansion of the mine life at Pine Cove, which results in a higher denominator for depletion and depreciation on a units-of-production basis relative to the denominator used in the fourth quarter of 2018.

Overall, mine operating income for the fourth quarter was $1,587,656, an increase from $1,268,409 in corresponding period of 2018, as lower gold revenue and higher operating expenses were offset by lower royalty expenses and a significant decrease in depletion and depreciation.

Net loss for the three months ended December 31, 2019 was $229,778, or $0.00 per share, compared to net loss for the three months ended December 31, 2018 of $356,333, or $0.00 per share.

Financial Position and Cash Flow Analysis

As at December 31, 2019, the Company had working capital of $2,728,061, which included cash and cash equivalents of $4,351,588. Current loans increased in 2019 due to a $5 million term loan with the Royal Bank of Canada ("RBC"), entered into in March 2019, which carries a fixed interest rate of 4.6% and a performance guarantee fee by Export Development Canada ("EDC") of 1.85%, based on the proportional amount outstanding. In January 2020, the Company announced that it had extended the amortization period on the term loan to April 2022, providing enhanced financial flexibility in 2020 as it continues to advance the Goldboro Gold Project and the Tilt Cove Gold Project. The Company also maintains a $1,000,000 revolving credit facility as well as a $750,000 revolving equipment lease line of credit with RBC. As at December 31, 2019, the Company had not drawn against the revolving credit facility.

Anaconda generated $4,3335,382 in operating cash flows during the year ended December 31, 2019, after accounting for corporate administration costs. Revenue less cash operating expenses and royalties from the Point Rousse Project was $10,465,775, based on gold sales of 16,362 ounces at an average gold price of C$1,804 per ounce sold and operating cash costs of C$1,165 per ounce sold. Corporate administration costs in 2019 were $4,457,000, which included one-time severance costs.

During 2019, the Company continued to invest in its key growth projects in Newfoundland and Nova Scotia. The Company spent $10,943,829 on exploration and evaluation assets (adjusted for amounts included in trade payables and accruals at December 31, 2019), primarily on the continued advancement of the Goldboro Project ($9,136,476). The Company also invested $2,181,896 into the property, mill and equipment at the Point Rousse Project, with capital investment focused on development activity on pushbacks of the Pine Cove pit.

Financing activities during the year ended December 31, 2019 included the net proceeds of $4,508,680 from a non-brokered private placement completed in July 2019, the $5 million term loan with RBC (and corresponding monthly repayments), and the repayment of other capital lease obligations and government loans.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]


Anaconda Mining Inc.
Lynn Hammond
VP, Public Relations
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4247…

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[IQ4U]

Anaconda Mining Reports Q1 2020 Production Results And Provides Corporate Update


TORONTO, ON / ACCESSWIRE / April 15, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce production results and certain financial information from the three months ended March 31, 2020 ("Q1 2020"), as well as provide a corporate update concerning the ongoing COVID-19 pandemic. All dollar amounts are in Canadian Dollars. The Company expects to file its first quarter financial statements and management discussion and analysis by May 13, 2020.

First Quarter 2020 Highlights
•Anaconda sold 5,132 ounces of gold in Q1 2020, generating metal revenue of $10.5 million at an average realized gold price1 of $2,051 (US$1,526) per ounce sold.
•Point Rousse produced 4,997 ounces of gold in Q1 2020, a 20% increase compared to Q1 2019, due to higher mill throughput.
•Mine operations moved 103,222 tonnes of ore during the first quarter from the Pine Cove open pit at an average grade of 1.47 g/t at a strip ratio of 5.4 waste tonnes to ore tonnes. The Company ended the first quarter with over 45,000 tonnes of ore in stockpiles.
•The Pine Cove Mill processed 113,136 tonnes during Q1 2020 and achieved a recovery rate of 87.4%, an increase in throughput of 42% compared to Q1 2019 when unplanned maintenance of the regrind mill led to lower mill availability.
•Initiated exploration programs at multiple locations at the Point Rousse Project, which includes 5,500 metres of diamond and percussion drilling proximal to the Pine Cove, Argyle, and Stog'er Tight Deposits.
•Subsequent to quarter-end, Anaconda completed the spin-out and financing of its Narrow Vein Mining Project, which will advance the innovative technology with no further financial commitment from the Company.
•As at March 31, 2020, the Company had a cash balance of $6.4 million, preliminary working capital1 of $3.7 million, and additional available liquidity of $0.3 million2 from an undrawn revolving line of credit facility.

1 Refer to Non-IFRS Measures Section below.

2 A portion of the previous $1.0 million revolving line of credit facility limit was carved out and used as collateral relating to the Company's surety bonds associated with its reclamation liabilities (see Corporate Update section below).

COVID-19 Pandemic and Preparedness Update - As of today, Point Rousse continues to operate and to the Company's knowledge, no employees, contractors, or consultants directly involved with Anaconda, whether at corporate or at site, have been diagnosed with COVID-19. Strict health and safety protocols, including social distancing, remain in place and are continually reviewed based on recommendations from medical authorities. As reported in the press release dated March 26, 2020, the Company's corporate office remains closed for the foreseeable future, and the exploration program at the Tilt Cove Gold Project has been suspended.

"While we face a time of pronounced uncertainty, Anaconda has started the year strong with over 5,100 ounces of gold sold in the first quarter of 2020 at record high Canadian dollar gold prices. Mining continues from the Pine Cove Pit and the Pine Cove Mill achieved another successful quarter of throughput, achieving mill availability of 97.8% and an average mill recovery of 87.4%. I would like to thank all the staff at Anaconda that have ensured sustained and consistent operations during this pandemic, in particular our personnel and contractors at Point Rousse who continue to operate safely and maintain proper social distancing protocols. As a result of the strong quarter, we are in a strong financial position with $6.4 million in cash, ensuring we have robust financial flexibility in the near-term."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

First Quarter Operating Statistics



Three months ended March 31, 2020 Three months ended March 31, 2019

Mine Statistics


Ore production (tonnes)
103,222 77,367

Waste production (tonnes)
561,763 279,412

Total material moved (tonnes)
664,985 356,779

Waste: Ore ratio
5.4 3.6




Mill Statistics


Availability (%)
97.8 78.1

Dry tonnes processed
113,136 79,758

Tonnes per day
1,271 1,135

Grade (grams per tonne)
1.57 1.92

Recovery (%)
87.4 84.8

Gold Ounces Produced
4,997 4,176

Gold Ounces Sold
5,132 5,251

Operations Overview for the Three Months Ended March 31, 2020

Anaconda sold 5,132 ounces of gold during the first quarter of 2020, generating gold revenue of $10.5 million at an average realized gold price1 of $2,051 (US$1,526) per ounce sold. Gold production of 4,997 ounces was 20% higher than Q1 2019, due to better mill availability and resulting higher throughput. Low mill availability in Q1 2019 was due to planned maintenance on the main ball mill and unplanned maintenance for the regrind mill due to delayed shipment of trunnion liners, and the consequent decision to accelerate other maintenance programs. The Company remains on track to meet guidance and produce and sell between 18,000 and 19,000 ounces of gold from continued mining at the Pine Cove Pit.

1 Refer to Non-IFRS Measures Section below.

Point Rousse Mill Operations - The Pine Cove Mill processed 113,136 tonnes during Q1 2020, an increase of 42% compared to the first quarter of 2019 when a combination of the planned maintenance on the main ball mill with unplanned maintenance on the head of the regrind mill resulted in low mill availability, which impacted throughput.

Average grade during Q1 2020 was 1.57 g/t, a 18% decrease over the first quarter of 2019, when mining was focused at the higher-grade Stog'er Tight Mine, but an increase of 27% over Q4 2019.The mill achieved an average recovery rate of 87.4%, an increase from 84.8% achieved in Q1 2019 despite the lower grade profile in Q1 2020. The higher throughput and better recovery resulted in gold production of 4,997 ounces, an increase of 20% compared to the first quarter of 2019.

Point Rousse Mine Operations - During the first quarter of 2020, the mine operations produced 113,136 tonnes of ore from the Pine Cove Pit, which is expected to be the exclusive source for ore in 2020. Ore mined during Q1 2020 was up significantly compared to the first quarter of 2019, which reflects the higher mining rate at the Pine Cove Pit compared to the lower tonnage profile of mining at Stog'er Tight, which was the main mining area in the prior period. From a production perspective, the higher tonnes mined from Pine Cove has offset the higher relative grade profile of Stog'er Tight, as demonstrated by the 20% increase in gold ounces produced in Q1 2020. The Company ended the first quarter with an ore stockpile of over 45,000 tonnes.

The mine operations achieved a strip ratio of 5.4 waste tonnes to ore tonnes at the Pine Cove Pit, an increase compared to Q4 2019 as higher waste development was required to access ore zones for the second quarter. The strip ratio is expected to decrease throughout 2020. The strip ratio is higher compared to the first quarter of 2019 when planned pushbacks to the Pine Cove Pit were delayed to the second quarter of 2019.

Corporate Update

Subsequent to March 31, 2020, the Company, through a subsidiary called Novamera Inc., completed a $2.0 million financing with a venture capital firm to further the advancement of its Narrow Vein Mining Project (the "Project"). The Project is advancing drilling technology to recover ore from steeply dipping, narrow vein deposits that are considered uneconomic when applying traditional extraction methods. As part of the funding arrangement, the technology and related agreements were transferred to Novamera Inc., of which the Company retains a 34% undiluted interest and has no further financial obligations to advance the Project forward.

During the first quarter of 2020, the Company changed insurance companies which provide the surety bonds that backstop its performance obligations with respect to reclamation obligations at the Company's sites. Under the terms of the replacement surety bonds, the Company was required to provide collateral of $0.7 million, equivalent to 25% of the value of the bonds. The collateral was provided in the form of a letter of credit from the Royal Bank of Canada, which was carved out of the existing $1.0 million undrawn revolving line of credit. As a result, the Company currently maintains a revolving line of credit facility in the amount of $0.3 million.

As part of the appointment of Mary-Lynn Oke to the Board of Directors (see press release dated March 31, 2020), the Company granted 40,000 share units pursuant to the Company's Share Unit Plan.

Qualified Person

Kevin Bullock, P. Eng., President and CEO, Anaconda Mining Inc., is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

NON-IFRS MEASURES

Anaconda has included certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Average Realized Gold Price per Ounce Sold - In the gold mining industry, average realized gold price per ounce sold is a common performance measure that does not have any standardized meaning. The most directly comparable measure prepared in accordance with IFRS is gold revenue. The measure is intended to assist readers in evaluating the revenue received in a period from each ounce of gold sold.

Working Capital - Working capital is a common measure of near-term liquidity and is calculated by deducting current liabilities from current assets.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4290…

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[IQ4U]

Anaconda Mining Provides Update on the Goldboro Gold Project

TORONTO, ON / ACCESSWIRE / April 23, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to provide an update on its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") located in Nova Scotia, Canada. Given the revised permitting timelines for the Project as discussed below, as well as COVID-19 related delays, the Company has initiated optimization work on the Project based on opportunities identified as part of work undertaken in connection with the preparation of a Feasibility Study, including a robust drill program designed to upgrade certain Inferred Mineral Resources into Indicated Mineral Resources.

Key Takeaways
•The Company has determined, in consultation with government regulatory agencies, that further baseline studies, including water monitoring, and predictive work will be required to support a Provincial Environmental Assessment Registration Document ("EARD"). In addition, further work is required with respect to the tailings pond placement due to evolving Federal regulatory requirements at the regional level, which is expected to extend the permitting timeline into the second half of 2021.
•GHD, a leading environmental engineering firm that brings expertise and experience in mine permitting in Nova Scotia, is leading the permitting process for the Project and is overseeing data collection activities with McCallum Environmental Ltd. ("MEL") to support the EARD and the subsequent Industrial Approval Application.
•The revised permitting timelines provide a timely opportunity to concurrently optimize the Project; preliminary mine planning work has identified significant areas of Inferred Mineral Resources proximal to planned development which, if converted, could add a significant amount of value to the Project.
•In an effort to maximize shareholder value, Anaconda is initiating a 5,500-metre diamond drill program at Goldboro to convert and add Mineral Resources to the Feasibility Study, potentially extending the mine life and improving various economic parameters of the Project. The diamond drill program will be funded from existing flow-through funds.
•Nordmin Engineering Inc., who brings significant experience with narrow-vein underground mining, has been engaged to optimize the mine plan and finalize the Feasibility Study, which is now expected to be completed in the fourth quarter of 2020.

"The revised permitting timeline has provided the Company a timely opportunity to optimize the Goldboro Gold Project, as it has identified many opportunities to increase the net present value of the Project. In particular, we are excited to initiate a robust 5,500-metre diamond drill program, which has the potential to further improve the Project's economics and extend mine life. We look forward to announcing the results in the third quarter of 2020. As we work to submit an updated Environmental Assessment and optimize the Project, Anaconda continues to engage with all of our community stakeholders and rightsholders including ongoing engagement with Nova Scotia Mi'kmaq, as the Company continues to progress Goldboro towards a development decision."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Permitting Process Update

During the first quarter of 2020, in light of feedback from Nova Scotia Environment and recent Anaconda personnel changes, a detailed review of all permitting activity to date was undertaken to identify further work required to support the filing of an EARD. As a result, it was determined that additional data collection and predictive work would be required. GHD is now leading the permitting activities for the Project and is overseeing the water monitoring program and other work to support the EARD and the subsequent Industrial Approval Application (GHD was involved in the permitting of the Moose River Consolidated Project in Nova Scotia and is involved with MEL with ongoing projects and permitting by St Barbara Limited in Nova Scotia).

Furthermore, there are evolving Federal regulatory requirements at the regional level with respect to waterways and the potential location of any mine waste (including tailings facilities), which the Company anticipates will require further assessment and predictive work and extend the permitting timelines. The Company expects to file the updated EARD in the third quarter of 2020 and as a result, based on the aforementioned matters, expects to receive required permits (including release from the Environmental Assessment, the Industrial Approval, and Mining Lease) in the second half of 2021.

Feasibility Study Update and Mineral Resources Conversion Drill Program

The revised permitting timeline has provided the Company a strong opportunity to optimize the Project, as it has identified many opportunities to increase the net present value of the Project based on initial results and feedback arising from the work undertaken to date in connection with the Feasibility Study. The Company has now engaged Nordmin Engineering Inc., replacing the previous consultants on the Study, to evaluate these opportunities and complete the Feasibility Study. Nordmin is well placed for this optimization work as they bring significant experience with narrow-vein underground mining. The Company continues to work with Ausenco Solutions Canada Inc. ("Ausenco"), who led and completed the process optimization and mill design for the Study (Ausenco was involved in the engineering and construction of Atlantic Gold Corporation's mill at the Moose River Consolidated Project in Nova Scotia).

Furthermore, Anaconda is initiating an approximately 5,500-metre diamond drill program at Goldboro with the aim of converting Inferred Mineral Resources proximal to planned development into Indicated Mineral Resources. Based on conversion rates observed to date in over 27,000 metres of drilling, the Company believes the drill program has the potential to add significant value by possibly extending the life of mine and improving the Project's economics. The diamond drill program will be funded from existing flow-through funds.

The Company has commenced activities required to permit the drill program, and critically consider logistical matters given the ongoing COVID-19 pandemic, to ensure that any drill programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

Anaconda is now targeting to complete the Feasibility Study on the Project by the fourth quarter of 2020.

Qualified Person

Kevin Bullock, P. Eng., President and Chief Executive Officer, and Paul McNeill, P. Geo., VP Exploration, each with Anaconda Mining Inc., are "qualified person" as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and have reviewed and approved the scientific and technical information and data included in this news release.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past-producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource, and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation, including the timing of permitting, filing of the EARD and the completion of the Feasibility Study. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, development and production, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, risks related to the COVID-19 pandemic, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Anaconda Mining Inc
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4299…

View source version on accesswire.com:
https://www.accesswire.com/586417/Anaconda-Mining-Provides-U…

[IQ4U]

Anaconda Mining Provides Update on the Goldboro Gold Project

TORONTO, ON / ACCESSWIRE / April 23, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to provide an update on its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") located in Nova Scotia, Canada. Given the revised permitting timelines for the Project as discussed below, as well as COVID-19 related delays, the Company has initiated optimization work on the Project based on opportunities identified as part of work undertaken in connection with the preparation of a Feasibility Study, including a robust drill program designed to upgrade certain Inferred Mineral Resources into Indicated Mineral Resources.

Key Takeaways
•The Company has determined, in consultation with government regulatory agencies, that further baseline studies, including water monitoring, and predictive work will be required to support a Provincial Environmental Assessment Registration Document ("EARD"). In addition, further work is required with respect to the tailings pond placement due to evolving Federal regulatory requirements at the regional level, which is expected to extend the permitting timeline into the second half of 2021.
•GHD, a leading environmental engineering firm that brings expertise and experience in mine permitting in Nova Scotia, is leading the permitting process for the Project and is overseeing data collection activities with McCallum Environmental Ltd. ("MEL") to support the EARD and the subsequent Industrial Approval Application.
•The revised permitting timelines provide a timely opportunity to concurrently optimize the Project; preliminary mine planning work has identified significant areas of Inferred Mineral Resources proximal to planned development which, if converted, could add a significant amount of value to the Project.
•In an effort to maximize shareholder value, Anaconda is initiating a 5,500-metre diamond drill program at Goldboro to convert and add Mineral Resources to the Feasibility Study, potentially extending the mine life and improving various economic parameters of the Project. The diamond drill program will be funded from existing flow-through funds.
•Nordmin Engineering Inc., who brings significant experience with narrow-vein underground mining, has been engaged to optimize the mine plan and finalize the Feasibility Study, which is now expected to be completed in the fourth quarter of 2020.

"The revised permitting timeline has provided the Company a timely opportunity to optimize the Goldboro Gold Project, as it has identified many opportunities to increase the net present value of the Project. In particular, we are excited to initiate a robust 5,500-metre diamond drill program, which has the potential to further improve the Project's economics and extend mine life. We look forward to announcing the results in the third quarter of 2020. As we work to submit an updated Environmental Assessment and optimize the Project, Anaconda continues to engage with all of our community stakeholders and rightsholders including ongoing engagement with Nova Scotia Mi'kmaq, as the Company continues to progress Goldboro towards a development decision."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Permitting Process Update

During the first quarter of 2020, in light of feedback from Nova Scotia Environment and recent Anaconda personnel changes, a detailed review of all permitting activity to date was undertaken to identify further work required to support the filing of an EARD. As a result, it was determined that additional data collection and predictive work would be required. GHD is now leading the permitting activities for the Project and is overseeing the water monitoring program and other work to support the EARD and the subsequent Industrial Approval Application (GHD was involved in the permitting of the Moose River Consolidated Project in Nova Scotia and is involved with MEL with ongoing projects and permitting by St Barbara Limited in Nova Scotia).

Furthermore, there are evolving Federal regulatory requirements at the regional level with respect to waterways and the potential location of any mine waste (including tailings facilities), which the Company anticipates will require further assessment and predictive work and extend the permitting timelines. The Company expects to file the updated EARD in the third quarter of 2020 and as a result, based on the aforementioned matters, expects to receive required permits (including release from the Environmental Assessment, the Industrial Approval, and Mining Lease) in the second half of 2021.

Feasibility Study Update and Mineral Resources Conversion Drill Program

The revised permitting timeline has provided the Company a strong opportunity to optimize the Project, as it has identified many opportunities to increase the net present value of the Project based on initial results and feedback arising from the work undertaken to date in connection with the Feasibility Study. The Company has now engaged Nordmin Engineering Inc., replacing the previous consultants on the Study, to evaluate these opportunities and complete the Feasibility Study. Nordmin is well placed for this optimization work as they bring significant experience with narrow-vein underground mining. The Company continues to work with Ausenco Solutions Canada Inc. ("Ausenco"), who led and completed the process optimization and mill design for the Study (Ausenco was involved in the engineering and construction of Atlantic Gold Corporation's mill at the Moose River Consolidated Project in Nova Scotia).

Furthermore, Anaconda is initiating an approximately 5,500-metre diamond drill program at Goldboro with the aim of converting Inferred Mineral Resources proximal to planned development into Indicated Mineral Resources. Based on conversion rates observed to date in over 27,000 metres of drilling, the Company believes the drill program has the potential to add significant value by possibly extending the life of mine and improving the Project's economics. The diamond drill program will be funded from existing flow-through funds.

The Company has commenced activities required to permit the drill program, and critically consider logistical matters given the ongoing COVID-19 pandemic, to ensure that any drill programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

Anaconda is now targeting to complete the Feasibility Study on the Project by the fourth quarter of 2020.

Qualified Person

Kevin Bullock, P. Eng., President and Chief Executive Officer, and Paul McNeill, P. Geo., VP Exploration, each with Anaconda Mining Inc., are "qualified person" as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and have reviewed and approved the scientific and technical information and data included in this news release.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past-producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource, and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation, including the timing of permitting, filing of the EARD and the completion of the Feasibility Study. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, development and production, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, risks related to the COVID-19 pandemic, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Anaconda Mining Inc
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4299…

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[IQ4U]

Anaconda Mining Reports First Quarter 2020 Results; Generates $4.4 Million Of Cash Flow From Operating Activities

TORONTO, ON / ACCESSWIRE / May 13, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to report its financial and operating results for the three months ended March 31, 2020 ("Q1 2020"). The condensed interim consolidated financial statements and management discussion & analysis documents can be found at www.sedar.com and the Company's website, www.anacondamining.com. All dollar amounts are in Canadian dollars unless otherwise noted.

First Quarter 2020 Highlights
•Anaconda sold 5,132 ounces of gold in Q1 2020 from production at the Point Rousse Complex, generating metal revenue of $10.5 million at an average sales price* of C$2,051 (US$1,526) per ounce of gold.
•Anaconda produced 4,997 ounces of gold in Q1 2020, a 20% increase compared to Q1 2019, due to higher mill throughput.
•Operating cash costs per ounce sold* at the Point Rousse Project in Q1 2020 were C$1,165 (US$867), compared to C$977 (US$735) in the three months ended March 31, 2019.
•All-in sustaining cash costs per ounce sold*, including corporate administration and sustaining capital expenditures, was C$1,546 (US$1,151) for Q1 2020.
•The Company invested $1.1 million in its growth projects during Q1 2020, including $0.4 million on the Goldboro Gold Project in Nova Scotia and $0.5 million on exploration programs at the Tilt Cove Project.
•The Point Rousse Complex generated EBITDA* of $4.5 million in Q1 2020, compared with $3.8 million for the respective 2019 period.
•Net income for the three months ended March 31, 2020 was $1.5 million, or $0.01 per share, compared to $1.2 million, or $0.01 per share, for the three months ended March 31, 2019.
•Subsequent to quarter-end, Anaconda completed the spin-out and a $2.0 million financing of its Narrow Vein Mining Project, which will advance the Project with no further financial commitment from the Company.
•As at March 31, 2020, the Company had a cash balance of $6.4 million, working capital* of $3.6 million, and additional available liquidity of $0.3 million from an undrawn revolving line of credit facility.

*Refer to Non-IFRS Measures section below. A full reconciliation of Non-IFRS Measures can be found in the Management Discussion and Analysis for the three months ended March 31, 2020.

COVID-19 Pandemic and Preparedness Update - As of today, Point Rousse continues to operate and to the Company's knowledge, no employees, contractors, or consultants directly involved with Anaconda, whether at corporate or at site, have been diagnosed with COVID-19. Strict health and safety protocols, including social distancing, remain in place and are continually reviewed based on recommendations from medical authorities.

"Despite the advent of the COVID-19 pandemic in the first quarter of 2020, Anaconda has started the year strong, generating $4.4 million of cash flow from operations based on the sale of 5,132 ounces of gold at C$2,051 per ounce. The Point Rousse operation has continued to operate uninterrupted in a safe and responsible manner and remains on track to produce and sell between 18,000 and 19,000 ounces of gold in 2020, while taking advantage of record high Canadian gold prices. Anaconda's strong financial position, with $6.4 million in cash at the end of Q1 2020, ensures that we have robust financial flexibility in the near-term as we continue to generate cash from our Point Rousse operations while advancing the Goldboro Gold Project."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

Temporary Relief under Ontario Instrument 51-504 - As a result of the COVID-19 pandemic and in accordance with Ontario Instrument 51-504 - Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials of the Ontario Securities Commission, the Company will be delaying the public filing of its executive compensation disclosure until the filing of its management information circular in connection with its annual meeting of shareholders. The Company has decided to postpone such meeting to a later date in 2020 to enable greater participation of its shareholders and a better forum for communication.

Consolidated Results Summary


Financial Results
Three months ended March 31, 2020 Three months ended March 31, 2019

Revenue ($)
10,535,021 8,776,703

Cost of operations, including depletion and depreciation ($)
6,901,599 6,454,694

Mine operating income ($)
3,633,422 2,322,009

Net income ($)
1,471,399 1,157,851

Net income per share ($/share) - basic and diluted
0.01 0.01
Cash generated from operating activities ($) 4,380,125
4,135,073

Capital investment in property, mill and equipment ($) 659,342
284,202

Capital investment in exploration and evaluation assets ($) 1,096,630 4,357,390

Average realized gold price per ounce*
US$1,526 US$1,257

Operating cash costs per ounce sold*
US$867 US$735

All-in sustaining cash costs per ounce sold*
US$1,151 US$986


March 31, 2020 December 31, 2019

Total assets ($)
65,768,601 57,942,367

Non-current liabilities ($)
6,669,747 5,290,646

*Refer to Non-IFRS Measures section below.


Operational Results
Three months ended March 31, 2020 Three months ended March 31, 2019

Ore mined (t)
103,222 77,367

Waste mined (t)
561,763 279,412

Strip ratio
5.4 3.6

Ore milled (t)
113,136 79,758

Grade (g/t Au)
1.57 1.92

Recovery (%)
87.4 84.8

Gold ounces produced
4,997 4,176

Gold ounces sold
5,132 5,251

First Quarter 2020 Review

Operational Overview

Anaconda produced 4,997 ounces of gold in the first quarter of 2020, a 20% increase over Q1 2019, predominantly due to higher throughput as a result of better mill availability. Low mill availability in Q1 2019 was due to planned maintenance on the main ball mill and unplanned maintenance on the regrind mill, which also impacted the average recovery rate. The Company remains on track to meet guidance and produce and sell between 18,000 and 19,000 ounces of gold from continued mining at the Pine Cove Pit.

The Pine Cove Mill processed 103,222 tonnes during Q1 2020 at an average grade of 1.57 g/t. The 42% increase in throughput compared to Q1 2019 is the result of reduced mill availability in Q1 2019. The average grade was 18% lower than the first quarter of 2019, when mining was focused at the higher-grade Stog'er Tight Mine (but an increase of 27% over Q4 2019). The mill achieved an average recovery rate of 87.4%, an increase from 84.8% achieved in the corresponding quarter of 2019 despite the lower grade profile in Q1 2020.

During the first quarter of 2020, the mine operations produced 113,136 tonnes of ore from the Pine Cove Pit, which is expected to be the primary source for ore in 2020. Ore mined during Q1 2020 was up significantly compared to the first quarter of 2019, which reflects the higher mining rate at the Pine Cove Pit compared to the lower tonnage profile of mining at Stog'er Tight. From a production perspective, the higher tonnes mined from Pine Cove has offset the higher relative grade profile of Stog'er Tight, as demonstrated by the 20% increase in gold ounces produced in Q1 2020. The strip ratio in Q1 2020 was 5.4 waste tonnes to ore tonnes, an increase compared to Q4 2019 as higher waste development was required to access ore zones for the second quarter. The strip ratio is expected to decrease throughout 2020. The strip ratio is higher compared to Q1 2019 when planned pushbacks to the Pine Cove Pit were delayed to the second quarter of 2019.

Financial Results

Anaconda sold 5,132 ounces of gold during the first quarter of 2020, generating gold revenue of $10.5 million at an average realized gold price of C$2,051 per ounce (US$1,526).

Operating expenses for the three months ended March 31, 2020 were $5,939,601, compared to $4,886,614 in the three months ended March 31, 2019. Operating expenses for Q1 2020 included mining costs of $2,472,545 and were 20% higher than the comparative period primarily due to the 86% increase in material mined and the higher strip ratio at Pine Cove compared to Stog'er Tight in Q1 2019. Processing costs of $2,465,836 in Q1 2020 were also higher than the comparative period due to the 42% increase in ore tonnes milled during the period. Operating cash costs per ounce sold in the first three months of fiscal 2020 were C$1,165 (US$867); the Company remains on track to meet its annual operating cash cost guidance of C$1,050-C$1,100 (US$775 - US$825), with operating cash costs per ounce expected to be higher in the first half of the year.

The royalty expense for Q1 2020 was $49,145 compared to $248,295 in Q1 2019, as production in the prior year was predominantly from Stog'er Tight, which carries a 3% net smelter royalty. The royalty expense in Q1 2020 related to the processing of residual Stog'er Tight stockpiles. Depletion and depreciation for the three months ended March 31, 2020 was $912,802, a significant decrease from $1,319,785 in Q1 2019 due to the expansion of the mine life at Pine Cove, which results in a higher denominator for depletion and depreciation on a units-of-production basis relative to the denominator used in the first quarter of 2019.

Mine operating income for the three months ended March 31, 2020 was $3,633,422, compared to $2,322,009 in the corresponding period of 2019, with higher comparable operating costs during Q1 2020 being offset by higher revenue and lower depreciation in the quarter.

Corporate administration costs were $860,179 for the first three months of fiscal 2020, a decrease of 18% from Q1 2019, as the Company streamlined corporate costs over the second half of 2019. The Company also incurred $52,720 in research and development costs in Q1 2020, compared to a net recovery of research and development costs of $129,558 (which included funding received for the narrow vein mining research project).

Finance expense for the quarter was $72,040 for Q1 2020, compared to $36,156 for the three months ended March 31, 2019. Finance costs were higher than the comparative 2019 period as a result of the $5 million term loan entered into with the Royal Bank of Canada ("RBC") in March 2019.

In Q1 2020, the Company recorded a recovery of $167,676 as a deferred premium on flow-through shares, representing the proportion of the remaining qualifying exploration expenditures that were spent from the July 2019 flow-through financing in the three months ended March 31, 2020.

Net comprehensive income for the three months ended March 31, 2020, was $1,471,399, or $0.01 per share, compared to $1,157,851, or $0.01 per share. The improvement compared to the three months ended March 31, 2019 was the result of higher mine operating income, driven by stronger production and record high Canadian gold prices, offset by a higher net income tax expense, as the Company recorded a current income tax expense of $352,528 relating to provincial mining tax and a deferred income tax expense of $826,000 during the three months ended March 31, 2020 (three months ended March 31, 2019 - $268,163 and a recovery of $102,000, respectively).

Financial Position and Cash Flow Analysis

As at March 31, 2020, the Company had working capital of $3,565,559, which included cash and cash equivalents of $6,430,208. Trade and other payables have increased since the prior year mainly due to the exploration activity at Tilt Cove and timing. Current taxes payable reflect the Newfoundland mining taxes payable for 2019 and an estimate for the taxes for Q1 2020. The decrease in other current liabilities reflects the deferred flow-through premium recognized as a result of flow-through expenditures spent in the three months ended March 31, 2020.

The current portion of loans includes $1,423,329 outstanding from a $5.0 million term loan with the Royal Bank of Canada ("RBC"), entered into in March 2019. The term loan carries a fixed interest rate of 4.6% and performance guarantee fee by Export Development Canada ("EDC") of 1.85%, payable quarterly based on the proportional amount outstanding.

In March 2020, the Company amended its Line of Credit Agreement with RBC to amend the existing revolving credit facility to $250,000 and include a $725,000 revolving demand facility. Under the terms of the Agreement, RBC maintains a first-ranking general security agreement including a specific security interest in the Company's ball mill and cone crushers. During the three months ended March 31, 2020, the Company changed insurance companies which provide the surety bonds to backstop its performance obligations with respect to the Company's reclamation obligations. Under the terms of the replacement surety bonds, the Company was required to provide collateral of $713,048, equivalent to 25% of the value of the bonds. The collateral was provided in the form of an irrevocable letter of credit from RBC under the revolving demand facility. As at March 31, 2020, there were outstanding balances of $713,048 and $265,636 on the revolving demand facility and revolving equipment lease line of credit, respectively, and the Company had not drawn against the revolving credit facility.

Anaconda generated $4,380,125 in operating cash flows during the three months ended March 31, 2020, after accounting for corporate administration costs. The Point Rousse Project generated EBITDA of $4,493,504, based on gold sales of 5,132 ounces at an average gold price of C$2,051 per ounce sold and operating cash costs of C$1,165 per ounce sold. Corporate administration costs in the three months ended March 31, 2020 were $860,179.

During Q1 2020, the Company continued to invest in its key growth projects in Newfoundland and Nova Scotia. The Company spent $1,096,630 on exploration and evaluation assets (adjusted for amounts included in trade payables and accruals at March 31, 2020), primarily on the continued advancement of the Goldboro Project and exploration activities at Tilt Cove and Argyle. The Company also invested $659,342 into capitalized stripping at the Pine Cove Pit and sustaining capital for the mill at the Point Rousse Project.

Financing activities during the three months ended March 31, 2020 were limited to the repayment of the RBC term loan, lease obligations, and government loans.

Non-IFRS Measures

Anaconda has included in this press release certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Operating Cash Costs per Ounce of Gold - Anaconda calculates operating cash costs per ounce by dividing operating expenses per the consolidated statement of operations, net of silver sales by-product revenue, by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation and rehabilitation costs.

All-In Sustaining Costs per Ounce of Gold - Anaconda has adopted an all-in sustaining cost performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company's definition conforms to the all-in sustaining cost definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations.

The Company defines all-in sustaining costs as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), corporate administration costs, sustaining exploration, and rehabilitation accretion and amortization related to current operations. All-in sustaining costs excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, financing costs, debt repayments, and taxes. Canadian and US dollars are noted for realized gold price, operating cash costs per ounce of gold and all-in sustaining costs per ounce of gold. Both currencies are considered relevant and the Company uses the average foreign exchange rate for the period.

Average Realized Gold Price per Ounce Sold - In the gold mining industry, average realized gold price per ounce sold is a common performance measure that does not have any standardized meaning. The most directly comparable measure prepared in accordance with IFRS is gold revenue. The measure is intended to assist readers in evaluating the revenue received in a period from each ounce of gold sold.

Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") - EBITDA is earnings before finance expense, deferred income tax expense and depletion and depreciation.

Point Rousse Project EBITDA is EBITDA before corporate administration and other expenses (income).

Working Capital - Working capital is a common measure of near-term liquidity and is calculated by deducting current liabilities from current assets.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, risks related to the COVID-19 pandemic, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:'

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4322…

View source version on accesswire.com:
https://www.accesswire.com/589561/Anaconda-Mining-Reports-Fi…

[IQ4U]

Anaconda Mining Commences 5,500 Metre Infill Diamond Drilling Program At The Goldboro Gold Project

TORONTO, ON / ACCESSWIRE / June 10, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce it has commenced a diamond drill program at its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The 5,500-metre drill program ("Drill Program") is designed to convert priority Inferred Mineral Resources, considered proximal to planned development under the ongoing Feasibility Study, into Indicated Mineral Resources.

"We have identified significant opportunities to optimize the Goldboro Gold Project and in particular to increase the overall economics of the Project. The Company is well-funded to advance its growth strategy and take advantage of these opportunities. This robust Drill Program has the real potential to directly impact the Project's economics and key economic metrics, creating significant incremental value. We look forward to announcing the results of the Drill Program in the third quarter of 2020, which will be included in a Mineral Resource Update on the Project and will also be incorporated into the life of mine in the optimized Feasibility Study."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

The Drill Program will target existing Inferred Mineral Resources in four separate zones within the Boston-Richardson and East Goldbrook Gold Systems that combined contain 325,000 tonnes at an average grade of 16.10 grams per tonne ("g/t") gold containing 168,400 ounces of gold. Based on conversion rates observed to date in over 27,000 metres of drilling, the Company believes the Drill Program has the potential to add significant value by extending the life of mine and improving the Project's economics. The Drill Program is funded from existing flow-through funds.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

GOLBORO MINERAL RESOURCE STATEMENT

The technical report from which this Mineral Resource statement is quoted is entitled "Goldboro Gold Project: Resource Update Phase 2, Guysborough County, Nova Scotia" and which is dated December 18, 2019, and with an effective date of August 21, 2019, was authored by independent qualified persons Todd McCracken, P.Geo. of WSP Canada Inc. and Robert Raponi, P. Eng., of Ausenco Engineering Canada Inc. (see news release dated October 31, 2019)

Mineral Resource Statement for the Goldboro Gold Project (effective August 21, 2019)^:


Resource Type

Au Cut-off

Category

Tonnes

Au

Troy Ounces


(g/t)

('000)

(g/t)


Open Pit

0.5

Measured

844

2.40

65,200


Indicated

111

2.63

9,400


Measured + Indicated

955

2.43

74,600


Inferred

22

2.79

2,000


Underground

2.0

Measured

967

6.08

189,200


Indicated

2,174

6.22

434,800


Measured + Indicated

3,141

6.18

624,000


Inferred

2,985

7.12

683,200


Combined*

0.5/2.0

Measured

1,811

4.37

254,400


Indicated

2,285

6.05

444,200


Measured + Indicated

4,096

5.30

698,600


Inferred

3,007

7.09

685,100



^Mineral Resource Estimate Notes


1.

Mineral Resources were prepared in accordance with NI 43-101 and the CIM Definition Standards (2014). 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, sociopolitical, marketing, or other relevant issues.


2.

Open pit Mineral Resources are reported at a cut-off grade of 0.5 g/t gold that is based on a gold price of CAD$1,753/oz (~US$1,350/oz). and a gold processing recovery factor of 95%.


3.

Underground Mineral Resource is reported at a cut-off grade of 2.0 g/t gold that is based on a gold price of CAD$1,753/oz (~US$1,350/oz). and a gold processing recovery factor of 95%.


4.

Appropriate mining costs, processing costs, metal recoveries, and inter ramp pit slope angles were used by WSP to generate the pit shell.


5.

Appropriate mining costs, processing costs, metal recoveries and stope dimensions were used by WSP to generate the potential underground resource.


6.

Rounding may result in apparent summation differences between tonnes, grade, and contained metal content.


7.

Tonnage and grade measurements are in metric units. Contained gold ounces are in troy ounces.


8.

Contributing assay composites were capped at 80 g/t Au.


9.

A bulk density factor was calculated for each block based on a regression formula.


ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4350…

View source version on accesswire.com:
https://www.accesswire.com/593339/Anaconda-Mining-Commences-…

[IQ4U]

Anaconda Mining Announces Argyle Drill Results, Including 5.26 G/T Gold Over 4.0 Metres And 4.48 G/T Over 9.14 Metres

TORONTO, ON / ACCESSWIRE / June 18, 2020 /

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce the results of a 2,305-metre infill drill program at the Argyle Deposit ("Argyle Infill Program"), located approximately 4.5 kilometres from the Company's operating Pine Cove Mill and tailings facility at the Point Rousse Project in Newfoundland (Exhibit A). The purpose of the Argyle Infill Program, comprised of both percussion and diamond drilling, was to better define and upgrade all shallow portions of the deposit to the Indicated Resource category in anticipation of mine development in the second half of 2020. Twenty-four diamond drill holes (AE-20-134 to 157) were completed totaling 1,448.4 metres and 61 percussion holes (AEP-20-26 to 86) were completed totaling 856.3 metres (Exhibit B).

Highlights from the Argyle Infill Program include:
•5.26 g/t gold over 4.0 metres (19.5 to 23.5 metres) in diamond drill hole AE-20-140;
•4.56 g/t gold over 4.5 metres (37.0 to 41.5 metres); including 24.70 g/t gold over 0.5 metres in diamond drill hole AE-20-138;
•2.16 g/t gold over 8.5 metres (15.0 to 23.5 metres) in diamond drill hole AE-20-143;
•6.62 g/t gold over 4.57 metres (10.97 to 15.54 metres) in percussion hole AEP-20-50; and
•4.48 g/t gold over 9.14 metres (7.32 to 16.46 metres); including 16.61 g/t gold over 0.91 metres in percussion hole AEP-20-78.

Selected intersections from the Argyle Infill Program are shown in Tables 1 and 2 below.

"With the final Argyle drill results in hand and with work progressing on Mineral Resources and development plans across Point Rousse, we anticipate a new Mineral Resource and Reserve statement for the Point Rousse Project in the next quarter. This will include over 17,000 metres of drilling completed since the last resource update at Point Rousse and will include an additional 7,940 metres of drilling at Argyle alone. As this work progresses, we are also actively drilling near the Pine Cove Mill to advance other areas for near-term development, all while we continue to generate significant cashflow from our Point Rousse operations. In the current gold-price environment, Anaconda is well positioned to leverage existing permitted infrastructure to quickly and efficiently move gold deposits through to development, taking advantage of our unique situation as a gold producer and developer working in world class mining jurisdictions."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

The drill results from the Argyle Infill Program are currently being incorporated into an updated Mineral Resource Estimate and are being used for planning of the development and mining of the Argyle Deposit. Mercator Geological Services Limited has been engaged to provide an NI 43-101 Mineral Resource Update and Dassault Systèmes Canada Inc. has been engaged to provide pit shell optimization and preliminary open pit designs for the Argyle Deposit.

Argyle is a near-term development project and Anaconda anticipates making a final production decision with respect to Argyle in the third quarter of 2020.

Table 1: Highlighted composited assays from diamond drill holes AE-20-134 to 157


Hole ID1

From (m)

To (m)

Interval (m)2

Au (g/t)



AE-20-134

35.7

36.2

0.5

10.40


AE-20-135

22.6

29.6

7.0

1.19


AE-20-136

34.2

35.2

1.0

0.86


AE-20-137

31.0

31.6

0.6

4.56


AE-20-138

37.0

41.5

4.5

4.56


including

39.5

40.0

0.5

24.70


AE-20-140

19.5

23.5

4.0

5.26


and

26.5

27.1

0.6

1.59


AE-20-141

8.7

11.7

3.0

1.18


and

15.7

16.7

1.0

1.41


AE-20-142

11.0

12.0

1.0

0.79


and

14.0

17.0

3.0

1.32


and

25.2

26.2

1.0

3.14


AE-20-143

15.0

23.5

8.5

2.16


AE-20-144

10.8

11.8

1.0

1.19


AE-20-146

49.0

50.0

1.0

1.55


and

60.4

61.4

1.0

1.36


and

73.7

74.3

0.6

1.00


AE-20-147

57.5

58.5

1.0

1.54


and

67.5

68.4

1.1

8.71


AE-20-148

14.7

15.2

0.5

0.63


and

18.5

19.5

1.0

1.90


AE-20-150

66.0

67.0

1.0

2.79


AE-20-151

64.0

66.0

2.0

4.02


and

73.5

75.0

1.5

0.79


AE-20-156

35.0

36.0

1.0

2.20


AE-20-157

42.0

44.0

2.0

3.98


Footnotes:

1 - Diamond drill holes AE-20-139, 145, 149, 152-155 have no significant assays.

2 - Interval expressed as core length only; true thickness estimated to be 90-100% of interval length.

Table 2: Highlighted composited assays from percussion drill holes AEP-20-26 to 86


Hole ID3

From (m)

To (m)

Interval (m)4

Au (g/t)


AEP-20-26

15.54

16.45

0.91

2.88


AEP-20-31

8.23

9.14

0.91

0.69


AEP-20-36

4.57

6.40

1.83

0.99


AEP-20-37

4.57

6.40

1.83

1.89


AEP-20-38

7.32

10.98

3.66

1.36


AEP-20-42

9.14

10.97

1.83

0.99


AEP-20-43

8.23

9.14

0.91

1.02


AEP-20-45

8.23

10.06

1.83

1.99


AEP-20-46

7.32

10.98

3.66

1.43


AEP-20-47

9.14

10.05

0.91

2.52


AEP-20-48

1.83

9.15

7.32

1.87


including

7.32

8.23

0.91

6.34


AEP-20-49

11.89

16.46

4.57

2.15


AEP-20-50

10.97

15.54

4.57

6.62


AEP-20-51

8.23

9.14

0.91

2.64


AEP-20-52

6.40

10.97

4.57

3.14


AEP-20-53

8.23

12.80

4.57

2.07


AEP-20-54

3.66

8.23

4.57

1.34


AEP-20-56

9.14

10.97

1.83

4.73


AEP-20-57

0.91

1.82

0.91

1.54


and

3.66

4.57

0.91

3.23


AEP-20-58

1.83

5.49

3.66

1.68


AEP-20-60

20.12

21.03

0.91

2.27


AEP-20-61

0.91

1.82

0.91

0.91


and

3.66

6.40

2.74

1.94


AEP-20-67

0.91

2.74

1.83

2.40


AEP-20-69

10.06

10.97

0.91

0.97


AEP-20-70

17.37

18.28

0.91

1.83


AEP-20-71

1.83

2.74

0.91

1.92


AEP-20-76

0.91

2.74

1.83

0.74


AEP-20-78

7.32

16.46

9.14

4.48


including

9.14

10.05

0.91

16.60


AEP-20-79

6.40

9.14

2.74

2.42


AEP-20-80

8.23

10.06

1.83

1.01


AEP-20-81

10.97

11.88

0.91

0.86


Footnotes:

3 - Percussion drill holes AEP-20-27-30, 32-35, 39-41, 44, 55, 59, 62-66, 68, 72-75, and 77 have no significant assays.

4 - Interval expressed as core length only; true thickness estimated to be 90-100% of interval length.

About Argyle

The Argyle Deposit, located 4.5 kilometres east of the Pine Cove Mill adjacent to existing road networks, is defined over a strike length of 685 metres and to a down-dip extent of 225 metres and is open for expansion. The Argyle Deposit was subject to a detailed NI 43-101 Technical Report titled "NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Update Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada" with an effective date of December 31, 2017. Since the December 2017 Resource, a total of 7,940 metres in 152 drill holes have been completed at Argyle.

Argyle Mineral Resource Estimate - Effective Date: December 31, 2017


Resource Category

Resource Cut-off Gold Grade

(g/t)

Tonnes

(Rounded)

Gold Grade (g/t)

(12 g/t Capping Factor)

Gold Ounces

(Rounded)


Indicated

0.5

543,000

2.19

38,300


Inferred

0.5

517,000

1.82

30,300


This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

Mineralized intervals referred to in this press release are reported as drill intersections and are apparent widths only. True widths are estimated to be approximately 90-100% of drill intervals.

All samples and the resultant assays and composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core and percussion samples were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

Percussion drilling was conducted using a Sandvik percussion drill rig with a 4-inch bore. Dry cuttings returned from the drill were collected every 0.91 metres of drilling from a plastic pail using a scoop holding approximately 1-2 kg sample. Percussion cuttings include a variety of size fractions of pulverized rock. An analysis of 16 pairs of twinned diamond drill holes and percussion holes within 12 metres of each other showed a strong correlation between grade and width of the mineralized zone.

Diamond drilling at Argyle outlined within this press release, benefited from a JEA grant from the Department of Natural Resources, Government of Newfoundland and Labrador. Anaconda thanks the Government of Newfoundland and Labrador for this assistance.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]



Exhibit A. A map showing the location of the Argyle Deposit along the eastern end of the Scrape Trend: a geological trend that is host to the Argyle Deposit, Stog'er Tight Mine, and Pine Cove Mine and Mill Complex, Point Rousse Project. For a higher resolution image, please click here.



Exhibit B. A map showing the location of diamond and percussion drill holes completed during the Argyle Infill Program referenced in the press release with highlight assays. For a higher resolution image, please click here.

SOURCE: Anaconda Mining Inc.

https://www.anacondamining.com/prviewer/release_only/id/4359…

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Anaconda Mining Expands the Stog'er Tight Deposit, Intersecting 5.45 g/t Gold Over 20.0 Metres, 18.42 g/t Gold Over 5.0 Metres and 10.14 g/t Gold Over 7.0 Metres

TORONTO, ON / ACCESSWIRE / July 7, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce initial results of an ongoing drill program (the "Drill Program") along strike from the Stog'er Tight Mine and Deposit ("Stog'er Tight"), located approximately three (3) kilometres east of the Company's operating Pine Cove Mill and tailings facility in Newfoundland (Exhibit A). The Drill Program comprises 1,354-metres in 26 diamond drill holes (BN-19-293 to 302 and BN-20-303 to 318) and 329 metres in 27 percussion drill holes (BNP-19-164 to BNP-20-190). The Drill Program was initiated to extend the previously mined Stog'er Tight Deposit and associated gold-mineralized alteration system westward, since previous exploration work indicated that the Stog'er Tight Deposit remained open for expansion (Exhibit B).

Highlights of the Drill Program include:
•5.45 g/t gold over 20.0 metres (44.0 to 64.0 metres), including 33.90 g/t gold over 1.0 metre in diamond drill hole BN-20-311;
•18.42 g/t gold over 5.0 metres (48.0 to 53.0 metres), including 74.40 g/t gold over 1.0 metre in diamond drill hole BN-20-309;
•10.14 g/t gold over 7.0 metres (28.0 to 35.0 metres), including 33.90 g/t gold over 1.0 metre in diamond drill hole BN-20-310; and
•5.55 g/t gold over 8.0 metres (25.0 to 33.0 metres), including 39.70 g/t gold over 1.0 metre in diamond drill hole BN-19-295.

Highlights of previous exploration (see news release dated October 27, 2016) include:
•1.28 g/t gold over 8.8 metres (21.0 to 29.8 metres) in diamond drill hole BN-16-278;
•3.81 g/t gold over 3.0 metres (49.9 to 52.9 metres); in diamond drill hole BN-16-279; and
•7.10 g/t gold over 3.5 metres in a channel sample.

Selected intersections from the Drill Program at Stog'er Tight are shown in Tables 1 and 2 below. Assays are pending for an additional 16 drill holes (BN-20-319 to 334) completed to date and will be released once assays have been received and reviewed.

"We are pleased to discover that the gold system at the Stog'er Tight Mine not only continues westward by 650 metres along strike, but also includes shallow zones of high-grade, thick mineralization. This new discovery coupled with the associated geophysical footprint could indicate that the zone continues northward down-dip for 250 metres. A second geophysical anomaly with the same orientation is located 250 metres to the southwest and is also associated with high-grade surface mineralization identified in historical channel samples. Further, our observations of the style of mineralization indicates that it is very similar to both the Stog'er Tight and Argyle gold deposits. Based on the success of this Drill Program we are initiating a further 1,500 metres of diamond drilling to test the down-dip extension of the gold mineralization as well as testing the second geophysical anomaly along strike with the goal of expanding the Stog'er Tight Deposit for future development. We look forward to announcing the remaining results from this program followed by updates on the new drilling which will commence shortly."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

The results of the Drill Program indicate that a significant zone of gold mineralization extends at least 650 metres west of, and represents a strike extension of, the Stog'er Tight Mine sequence. Mineralization at Stog'er Tight now extends over a total strike length of 1,200 metres and is open along strike to the southwest and down-dip on its western half. Gold mineralization is hosted within a shallowly northwest dipping gabbro sill and is tested to a vertical depth of 75 metres. The highest grades and thicknesses intersected thus far are associated with a geophysical anomaly (IP chargeability high associated with all gold deposits at Point Rousse) that extends 250 metres northward, parallel with a similar IP anomaly associated with the Stog'er Tight Deposit. A second IP chargeability anomaly, of similar extent and associated with surface gold mineralization, is located 250 metres further southwest along strike, highlighting additional potential for expansion (Exhibit C). Both geophysical anomalies trend beneath a shallow pond (generally less than a few metres) known as Camp Pond (Exhibit B and C). Fox Pond, located east of Camp Pond, was similarly underlain by the Stog'er Tight Deposit which was successfully mined in 2018 and 2019 by partial dewatering of the pond under appropriate Provincial and Federal Government permits.

Table 1: Highlighted composited assays from diamond drill holes BN-19-293 to BN-20-318


Drill hole1

From (m)

To (m)

Interval (m)2

Gold (g/t)


BN-19-294

24.0

37.0

13.0

1.15


including

32.0

37.0

5.0

2.26


and

36.0

37.0

1.0

5.76


BN-19-295

25.0

33.0

8.0

5.55


including

30.0

33.0

3.0

14.45


including

30.0

31.0

1.0

39.70


BN-19-296

35.0

36.0

1.0

0.61


BN-19-299

12.0

14.0

2.0

0.97


BN-19-300

8.0

10.0

2.0

1.16


BN-19-300

20.7

21.7

1.0

28.10


BN-19-301

20.0

23.0

3.0

1.06


BN-20-304

10.0

11.0

1.0

15.10


BN-20-306

9.0

10.0

1.0

0.50


BN-20-308

17.0

18.0

1.0

0.85


BN-20-309

42.0

43.0

1.0

2.73


BN-20-309

48.0

53.0

5.0

18.42


including

50.0

51.0

1.0

74.40


BN-20-309

63.0

64.0

1.0

0.80


BN-20-310

23.0

24.0

1.0

0.58


BN-20-310

28.0

35.0

7.0

10.14


including

32.0

33.0

1.0

33.90


BN-20-311

35.0

36.0

1.0

1.91


BN-20-311

44.0

64.0

20.0

5.45


including

55.0

56.0

1.0

33.90


including

62.0

63.0

1.0

17.10


BN-20-312

11.0

13.0

2.0

1.63


BN-20-315

27.0

30.0

3.0

5.05


BN-20-316

61.0

62.0

1.0

1.69


BN-20-318

39.0

40.0

1.0

0.71


Footnotes:

1 - Diamond drill holes BN-19-293, 297, 298, 302 and BN-20-302, 303, 305, 307, 313, 317 have no significant assays.
2 - Interval expressed as core length only; true thickness estimated to be 75-100% of interval length.

Table 2: Highlighted composited assays from percussion drill holes BNP-19-164 to BNP-20-190


Drill hole3

From (m)

To (m)

Interval (m)4

Gold (g/t)


BNP-20-170

15.5

17.4

1.9

1.57


BNP-20-174

3.7

6.4

2.7

1.70


BNP-20-176

0.9

1.8

0.9

0.86


BNP-20-180

1.8

3.7

1.9

1.73


BNP-20-182

11.0

14.6

3.6

1.67


BNP-20-185

1.8

2.7

0.9

0.54


and

4.6

5.5

0.9

1.15


Footnotes:

3 - Percussion drill holes BNP-19-164-169, BNP-20-171-173, 175, 177-179, 181, 183, 184, and 186-190 have no significant assays.
4 - Interval expressed as core length only; true thickness estimated to be 90-100% of interval length.

About Stog'er Tight

The Stog'er Tight Deposit, located adjacent to existing road networks three (3) kilometres east of the Pine Cove Mill, has been defined over a strike length of 650 metres to date. Anaconda produced a total of 17,102 ounces of gold from the Stog'er Tight Mine between June 2018 and January 2020. Gold from Stog'er Tight was recovered through the Pine Cove Mill with an average head grade of 1.75 g/t gold. Anaconda is currently assessing the potential for expanding the Stog'er Tight Deposit and developing additional resources along strike.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

Mineralized intervals referred to in this press release are reported as drill intersections and are apparent widths only. True widths reported in this press release are estimated to be approximately 75-100% of drill intervals.

All samples and the resultant composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core and percussion samples were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

Percussion drilling was conducted using a Sandvik percussion drill rig with a 4 inch bore. Dry cuttings returned from the drill were collected every 0.9 metres of drilling from a plastic pail using a scoop holding approximately 1-2 kg sample. Percussion cuttings include a variety of size fractions of pulverized rock. An analysis of 9 pairs of twinned diamond drill holes and percussion holes within 12 metres of each other showed a strong correlation between grade and width of the mineralized zone.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.

Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]


Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]



Exhibit A. A map showing the location of the Stog'er Tight Deposit in the central part of the Scrape Trend; A geological trend that is host to the Stog'er Tight Mine, Argyle Deposit and Pine Cove Mine and Mill Complex, Point Rousse Project.



Exhibit B. A map showing the location of diamond and percussion drill holes completed during the Drill Program referenced in the press release with highlight assays.



Exhibit C. A map showing the location of the Stog'er Tight Deposit, the area of the recent Drill Program and the IP geophysical anomalies and exploration targets. The location of Camp Pond and Fox Pond and associated IP anomalies are also shown.

SOURCE: Anaconda Mining Inc.


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Der CEO Kevin Bullock hat gestern weitere 20.000 Aktien im freien Markt gekauft:

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Anaconda Mining Announces a Non-Brokered Private Placement for up to $5.51 Million to Accelerate Exploration Growth Programs


NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

TORONTO, ON / ACCESSWIRE / July 16, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce a non-brokered private placement for aggregate proceeds of up to $5,510,000, consisting of up to 9,500,000 "flow-through" common shares of the Company (the "FT Shares") at a price of $0.58 per FT Share (the "Offering"). Each FT Share will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada). As part of the Offering, the Company is pleased to welcome SSI Asset Management Ltd, an independent asset management firm with an emphasis on precious metals and mining, as a long-term shareholder of Anaconda.

"We are very excited to execute this financing which will allow Anaconda to accelerate its highly prospective exploration and diamond drill programs in Atlantic Canada. While we continue to generate free cash flow at record high Canadian gold prices, this strategic financing with new long-term institutional investors will allow us to confidently advance our key growth projects, including the highly prospective Tilt Cove Gold Project, the high-grade development Goldboro Gold Project, and other targets on trend from our fully-permitted and operating Pine Cove Mill and tailings facility at the Company's Point Rousse Project in Newfoundland. The Company is now well-positioned to aggressively execute on its high-priority targets, which will contribute to the Company's growth strategy and provide strong potential for increased shareholder value."

- Kevin Bullock, President and CEO, Anaconda Mining Inc.

The gross proceeds of the Offered Securities will be used primarily for exploration and diamond drill programs at the Company's highly prospective Tilt Cove Gold Project in Newfoundland ("Tilt Cove"), the Goldboro and Lower Seal Harbour ("LSH") projects in Nova Scotia, as well as multiple targets at the Point Rousse Project, particularly along the Scrape Trend, following recent success at Stog'er Tight (see press release dated July 7, 2020).

Any securities to be issued under the Offering will be subject to a hold period of four months and a day from the closing date of the Offering in accordance with the rules and policies of the Toronto Stock Exchange ("TSX"), and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws. The Offering remains subject to the approval of the TSX.

Accelerated Advancement of Growth Programs

At Tilt Cove, this funding will allow accelerated potential for a discovery in this newly consolidated, highly prospective region in the Baie Verte Mining District, enabling immediate testing of the Company's top priority drill targets. Tilt Cove covers a 20-kilometre strike extent of the Betts Cove Complex, a highly prospective geological terrane that includes the Nugget Pond Horizon, the same geological trend as the past producing, high-grade Nugget Pond Mine, which had an average recovered grade of 9.85 g/t gold. The high-grade targets at Tilt Cove are within trucking distance along paved roads to the operating Pine Cove Mill and tailings facility, fast-tracking the period from discovery to production.

At the Goldboro Gold Project, work on a definitive feasibility study continues to identify potential areas that may allow Anaconda to upgrade the mineral resource from the inferred category to the measured and indicated category, in addition to the ongoing 5,500 metre drill program, which would have an immediate impact on the economics of the study. The Company is also keen to follow-up on recent exploration work completed at the LSH project, located three kilometres south of the Goldboro Deposit, which has identified drill targets that indicate a similar geological setting to Goldboro. Exploration at LSH will target an anticlinal fold structure that commonly host gold deposits in Nova Scotia and sits parallel to the structure hosting the Goldboro Deposit.

At the Point Rousse Project, in light of the recent expansion of the Stog'er Tight deposit and the refinement of the exploration model, the Company has identified further opportunities to continue our history of discovery, development, and production.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda, a "Qualified Person," under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans," "expects," or "does not expect," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "does not anticipate," or "believes" or variations of such words and phrases or state that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," or "be achieved." Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]


Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.


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Interview mit Kevin Bullock (CEO):

Anaconda Mining Inc. (TSX: ANX, OTCQX:ANXGF): Production, Development, and Exploration Company, in the Prolific Mining District of Newfoundland: Interview with Kevin Bullock, President and CEO

By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
on 7/10/2020

Anaconda Mining Inc. (TSX:ANX, OTCQX:ANXGF) a production, development, and exploration Company, with mining and milling operations, in the prolific Baie Verte Mining District of Newfoundland, which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands, including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study. We learned from Kevin Bullock, who is President and CEO of Anaconda Mining that they are producing between 18 and 19,000 ounces of gold per year in Newfoundland, with positive cash flow, and currently have approximately $7 million in cash. They are starting a 5,500 meter drilling program at Nova Scotia, to convert about 100,000 ounces, of currently inferred resources, into indicated resources and thereby allowing them to be used in the feasibility study. Anaconda also keeps ongoing exploration, around its producing mine in Newfoundland, continuously increasing the mine life.


Anaconda Mining Inc.

Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News, interviewing Kevin Bullock, who is President and CEO of Anaconda Mining. Kevin, I wonder if you could give our readers/investors an overview of your Company and what differentiates your Company from others?

Kevin Bullock: Thanks. I’m happy to be here, Allen. I think that we're a unique Company in the sense that for a market cap that's under 50 million, we have production, development, exploration, and growth, and you don't generally find that with small companies like us. We are producing between 18 and 19,000 ounces of gold per year, with positive cash flow at today's prices, especially in Canadian dollars, which is where we operate and our costs are associated. We're making quite a bit of money, free cash flow. We have a development project in Nova Scotia, which is going through a feasibility right now. We're identifying a lot of opportunities for optimization with that and have started a drill program, which was announced this morning. We’ll be doing 5,500 meters of drilling to convert currently inferred resources into indicated resources and thereby allowing them to be used in the feasibility study.



There're 160,000 ounces identified, in and around areas that we plan on developing, within the feasibility that are currently inferred. At historic conversion rates that would convert to around 100,000 ounces to add. With gold trading at $2,300 an ounce Canadian, that's another $450 million to add to the revenue side, should we be successful in conversion. That is started and is going to be a couple of month’s program, with announcements along the way. The mine currently continues to operate in Newfoundland, which is our producing mine. We're also exploring in and around our producing mine and finding some very interesting and exciting intersections that will be announced over the next few weeks. So it's quite a unique Company, with a lot of attributes and a lot of positive things happening over the next few months.


Dr. Allen Alper: Sounds excellent! Sounds like this year, in the coming months, will be an exciting time for the core investors and stakeholders of Anaconda Mining.

Kevin Bullock: Absolutely. We've turned a corner. We've made a lot of changes internally and externally, in all our projects. We're sitting on approximately $7 million of cash now, which is building weekly by our positive free cash flow, while we're carrying out all our work that's currently funded by that as well. So I think it is onwards and upwards from here.



Dr. Allen Alper: Sounds excellent! Could you tell our readers/investors a little bit about yourself and your Team?

Kevin Bullock: Yeah, certainly we've been able to retain some good people for the small company that we are. I think it's because we don't plan to remain a small company. We will grow into the people that we have. I'm a mining engineer. I've been in the business over 35 years. I have successes to my name in the past, I helped start and revamp Kirkland Lake Gold from a shell company and was part of the team that negotiated the purchase of the Macassa Mine. That's now a multibillion-dollar company. I was also involved with Iamgold Corporation, when it was private through it going public, which is now a multibillion-dollar company. I started my own company called Volta Resources, which eventually became purchased by B2Gold after a discovery of 10 million ounces of gold equivalent in West Africa.



I'm currently on the Board of Directors of B2Gold, because of that transaction. That's a multibillion-dollar company, and Anaconda is my next one.



We also have a CFO, Rob Dufour, who has been with the larger companies or helped some of the other companies grow into larger companies like Newmarket Gold and Crocodile Gold. He is very, very good with budgets and keeping track of expenditures and making sure that we're always pulling in money as opposed to putting it out. So quite a good team of people, we've just converted the consultant that's doing our feasibility study at the Goldboro project in Nova Scotia to a Company called Nordmin. Nordmin Engineering is a group that I've worked with in the past. The principal of it and I worked together, as co-managers, in an engineering company years back. Very, very good at narrow-vein underground deposits and doing a very good, exciting job finding opportunities in our feasibility study for the Goldboro project.

So we have the right people in place. We have an exploration team of people that have been in the East Coast their entire careers, and have discoveries under their belt, that are doing the exploration for us. It's exciting times ahead, with the help of these people that are second to none.

Dr. Allen Alper: Oh, that's great. You have a great Team and you have a great background. So that sounds excellent. Could you tell us a little bit about your corporate structure?

Kevin Bullock: Yes. We're very much into safety and environment as well as technology. And therefore, over the last few years, as we've been trying to develop new methods to mine narrower ore bodies, and to get our costs down, we've developed subsidiaries of which we hold pieces. Corporately, we're on the Toronto Stock Exchange, but we do have a very large interest in a Company called Novamera, which we just spun out a couple of months ago, which is in technology to do narrow-vein mining. We've managed to get an investor to fund it and take it outside of the Company so that there's no longer any drain of funds from us, but we retain about a 35% interest in that Company. And that continues to move forward.



Venture capitalists have invested two million into that. We also have a set of exploration properties that are grassroots and not going to develop into development properties in the near-term, but we have a lot of interest in the potential of discovery in them and managed to spin them out into a separate company called Magna Terra which is also listed, Magna Terra Minerals. That deal is currently halted at the moment, raising its funds as part of the transaction. We think it will close near the end of the month. Once that starts trading again, we'll have about a 35% interest in Magna Terra, a pure grassroots exploration company. So we've managed to spin off Companies for our own development and benefit from that. Now we'll continue to benefit the future without it costing us. We're completely focused on gold discovery, development and production.

Dr. Allen Alper: That sounds excellent. Could you tell us a little bit about your shareholders?

Kevin Bullock: We're particularly a retail company. We don't have a large institutional investor base. The way this Company was started and funded over the last 10 years, it's become a retail company. However, there's a lot of new interest from some funds and some institutions that are starting to pick up. About 8% of the Company is held by insider's Management and Directors. We have a couple of larger shareholders, a family house, investment house out of Florida and a couple of other institutions. The rest is all retail. It's about 70% retail held.

Dr. Allen Alper: It sounds very good. Sounds like an opportunity for our readers/investors. Could you tell us a little bit about your symbol and shares outstanding, et cetera?

Kevin Bullock: We currently have about 130 million shares issued and outstanding. We're trading at about 28, 29 cents Canadian, which gives us a market cap of just under 40 million Canadian. The facilities that we have at Point Rousse, where our operating mine has permitted tailings for 15 years and a port and a 1300 tonne a day mill, along with a project that's in feasibility now that looks like it's going to be well over 100 million net present value. There's a lot of value in this Company that hasn't been recognized yet. And that's what we're going to draw out over the next little while. So yeah, it's on the Toronto Stock Exchange, symbol is A-N-X. We're a highly liquid company. We've gone from about 13 or 14 cents a couple of months ago to our current value of 28, 29 cents.

We continue to have momentum. It's quite an interesting time for us, without many shares outstanding.

Dr. Allen Alper: Excellent!

Kevin Bullock: We continue to fund our programs with cashflow. So there's not a high amount of dilution involved in the Company.

Dr. Allen Alper: Well, that's excellent. Very few companies could do that. That's very good.

Kevin Bullock: We're very fortunate to have a producing mine.

Dr. Allen Alper: That's excellent to have a producing mine and also the opportunity to increase your resources through exploration. So that's excellent. Could you tell our readers/investors a little bit more your mineral resources?

Kevin Bullock: Yeah. We currently have the largest single deposit in the province of Nova Scotia, the Goldboro deposit, which is just under a 1.5-million-ounce resource base at the moment. That will probably turn into somewhere between 350 and 450,000 ounces of minable material in this feasibility. We also have about 50,000 ounces at Point Rousse, which is the operating mine, which is about a two-and-a-half-year life, but that mine has had a two-and-a-half-year mine life for the last 10 years. We keep discovering more and we're still drilling around it. So global resource, one and a half million ounces, quality ounces, the Goldboro deposit averages over six grams per ton for that million and a half ounces.



Dr. Allen Alper: That's sounds excellent. Could you tell our readers/investors, the primary reasons they should consider investing in Anaconda Mining?

Kevin Bullock: It is early days, and if you are familiar with the Lassonde Curve, which is the curve from going through discovery to development, to production. We're at the point where we are in final feasibility about to develop a mine in Nova Scotia, while we have current free cashflow. Puts us in a very unique position on that curve. It should move towards being much more valuable over the next little while, as we jump the hurdles of permitting and feasibility and fundraising, and building the mine. That combined with a significant opportunity for discovery, creates a Company that has a lot of news that will be out over the next few months, that will be positive in putting and adding value to the current share price.

So that's number one, investing in something that's about to move not already after it has moved. You're betting on a Team of Management people that have done this several times in the past. Bet on Management with good projects. Generally, that's a good ratio for a win.



Dr. Allen Alper: Well, that sounds like excellent reasons to invest in Anaconda Mining. Is there anything else you would like to add, Kevin?

Kevin Bullock: We’ll stay the course. We do not hope for a rise in the gold price as part of our strategy, although we'll take it when it happens. We are planning and building things that can make it at today's price of gold or much less. We're mitigating the downside risk, while trying to get the best bang for our buck on the revenue, while the gold price is high.

Dr. Allen Alper: Well, that sounds excellent. We’ll publish your press releases as they come out so our readers/investors can follow your progress.

https://www.anacondamining.com/


Kevin Bullock
President and CEO
[phone]
[e-mail]

Quelle: http://www.metalsnews.com/Metals+News/MetalsNews/Dr.+Allen+A…

[IQ4U]

ACCESSWIRE
21.07.2020 | 13:08

Anaconda Mining Inc.: Anaconda Mining Ramps Up Exploration Program At Tilt Cove Gold Project, Including IP Geophysical Survey And 10,000 Metres Of Diamond Drilling

TORONTO, ON / ACCESSWIRE / July 21, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce the initiation of a 35-line kilometre geophysical survey and 10,000 metre diamond drill program at the Tilt Cove Gold Project ("Tilt Cove"), located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by road from the Company's Pine Cove Mill and tailings facility (Exhibit A). Tilt Cove is a significant, recently consolidated land package encompassing the same geological trend as the past producing, high-grade Nugget Pond Mine, which had an average recovered grade of 9.85 grams per tonne ("g/t") gold. Tilt Cove covers a 20-kilometre strike extent of the Betts Cove Complex, a highly prospective geological terrane including the Nugget Pond Horizon ("NPH"), the iron-rich sedimentary unit that hosts the past-producing Nugget Pond Mine (Exhibit A).

"As a result of the recently announced $5.51M private placement, we are immediately and aggressively executing on our goal of discovering a high-grade deposit at our prospective Tilt Cove Gold Project. With the success of previous field work, all within sight of a past producing high-grade gold mine, we are confident that Tilt Cove has more high-grade gold to offer. We have commenced a 35-line kilometre ground magnetic and IP geophysical survey with crews now mobilized in the field. Furthermore, we will be testing at least five priority targets over the next six months with 10,000 metres of diamond drilling. The recent financing and the ability to accelerate our work at Tilt Cove makes this an exciting time for Anaconda and is consistent with our strategy to leverage the Pine Cove Mill and permitted tailings facility, fast-tracking the period from discovery to production and realizing full shareholder value from new discoveries."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Tilt Cove Project Advancements to Date

To date, Anaconda has made the following advances at Tilt Cove:

Discovered the new Growler Showing with channel samples that include 2.75 g/t gold over 5.2 metres and 1.78 g/t gold over 5.0 metres (see Table 1 below for full results);

Discovered an additional 2 kilometres of prospective strike in the Growler area that includes the NPH which is host to two significant showings: the Growler Showing and the Betts Big Pond Showing which has historic grab samples up to 60.66 g/t gold and chip samples of 8.19 g/t gold over 2.3 metres. These Nugget Pond-style showings are within 400 metres of each other and are broadly considered part of the new Growler target area (Exhibit B);

Discovered a new prospective iron-rich horizon, the Red Cliff Horizon, in the footwall of the Nugget Pond Horizon with a 6 kilometre strike, establishing two potential host rocks for Nugget Pond-style gold mineralization in this area (Exhibits A and C);

Developed multiple drill targets associated with coincident structures that cross the Nugget Pond and Red Cliff Horizons, with coincident magnetic lows and gold-in-soil anomalies located along the southeast trend of historic glacial movement ("down-ice") (Exhibit C);

Identified a broad gold-in-soil anomaly down-ice from the Red Cliff Pond Target (Exhibit C);

Found 154 rock grab and float samples with anomalous gold (82 samples greater than 0.50 g/t gold, 31 greater than 3.00 g/t gold and 14 high-grade samples ranging from 5.16 g/t gold to 216.10 g/t gold) and two visible gold occurrences (previously announced; see press release dated November 27, 2019);

Conducted a LiDAR survey over the entire property and a detailed drone magnetic survey (453 line-kilometres) covering the NPH; and

Conducted 2,975 metres of diamond drilling in 18 drill holes at the Red Cliff Pond, East Pond, West Pond and Growler targets and intersected prospective host rocks, anomalous gold, geological structures and quartz veins with associated sulfides, all typically associated with Nugget Pond-style gold mineralization (Exhibits B and C).

Geophysical crews are now mobilized at Tilt Cove to conduct a combined 35-line kilometre ground magnetic and IP geophysical survey. This work will be coincident with a mapping and prospecting program, which will be followed by a 10,000-metre diamond drill program at highly prospective targets including the Scarp, West Pond, Growler, East Pond and Betts Cove targets (collectively referred to as the "2020 Tilt Cove Program").

The 2020 Tilt Cove Program

The 2020 Tilt Cove program will test the top five priority targets on the Tilt Cove Project as well as collect data from other targets to advance them to the drill stage. The top five priority targets include the Scarp Zone, West Pond, Betts Cove, Growler and East Pond (Exhibit A). 35-line kilometres of ground geophysics (magnetics and IP) and 10,000 metres of diamond drilling will test the priority targets as follows:

The Scarp Zone - This target is characterized by more than a kilometre of exposed NPH coincident with a similar strike length consisting of 107 gold bearing rock grab and float samples over 0.5 g/t gold (Exhibit D). The area is also characterized by a strong deformation zone adjacent to the Nugget Pond Horizon which dips shallowly northwest beneath younger Silurian rocks. This target will be tested with 6.2 kilometres of ground magnetic and IP geophysics as well as 2,500 metres of diamond drilling and 500 metres of percussion drilling.

West Pond Target - This target is characterized by a 1.3-kilometre long zone beneath West Pond that is up-ice from a very strong gold-in-soil anomaly very similar in character and dimension to the gold-in-soil anomaly associated with the discovery of the high-grade Nugget Pond Deposit as well as a coincident break in magnetic intensity where a north-westerly trending lineament intersects the NPH. West Pond will be tested using 2,000 metres of diamond drilling that will be drilled either from shore or from a barge.

Betts Cove Target - At the Betts Cove Mine disseminated to massive pyrite and chalcopyrite +/- gold mineralization is hosted at the contact between gabbroic sills and pillow basalts, particularly within a chlorite schist unit that may represent a sheared alteration zone; a similar setting to the Tilt Cove Mine 20 kilometres to the northeast along strike. Historic drilling at the Betts Cove Mine has returned significant gold intercepts that include: 4.48 g/t gold over 4.0 metres (from 52.0 to 56.0 metres), including 11.20 g/t gold over 1.1 metres in hole BC-89-01; 6.77 g/t gold over 5.0 metres (from 63.1 to 68.1 metres) in hole BC-89-02; 1.87 g/t gold over 13.0 metres (from 63.5 to 76.5 metres) including 7.50 g/t gold over 0.5 metres and 8.82 g/t gold over 1.0 metre in hole NBC-96-01; and 4.59 g/t gold over 1.5 metres (from 63.5 to 65.0 metres) in hole NBC-96-02. 17.6-line kilometres of IP geophysics and up to 1,500 metres of diamond drilling will test this area.

Growler Target - The Growler Target is a newly recognized zone of prospectivity with a strike of 2 kilometres underlain by the NPH and associated with two large shear zones adjacent to the NPH contact. The area also includes recently discovered surface mineralization with channel samples at the Growler Showing assaying 2.75 g/t gold over 5.2 metres and 1.78 g/t gold over 5.0 metres as well as historic chip samples at the Betts Big Pond Showing assaying 8.19 g/t gold over 2.3 metres. 11.1-line kilometres of IP geophysics and up to 2,500 metres of diamond drilling will test this area.

East Pond - East Pond is characterized by an 800-metre strike length of the NPH coincident with reduction in magnetic intensity and cross cutting lineaments. The target also includes historic drilling, which intersected footwall mineralization similar to the Nugget Pond Mine including 5.74 g/t gold over 0.5 metres (RCP-97-01); 10.30 g/t gold over 0.5 metres (RCP-97-02); 1.16 g/t gold over 3.4 metres (RCP-97-02); and 4.90 g/t gold over 0.5 metres (RCP-98-01). 1,500 metres of drilling is designed to test the East Pond target.

The Winter Program

On November 27, 2019 and February 27, 2020, the Company announced an exploration program at Tilt Cove that intended to include 4,000 metres of diamond drilling in addition to a trenching program at Growler (collectively the "Winter Program"). A large portion of the Winter Program was not completed due to concerns over ice conditions required for drilling on the ponds and other factors related to the COVID-19 pandemic. The Company was able to complete the trenching at Growler and 2,975 metres of diamond drilling in 18 holes across four targets at Tilt Cove.

Growler Exploration - During late fall 2019, the Company completed a short trenching program exposing the Growler Showing based on results of grab sampling earlier that summer. Trenching exposed an area of altered and pyrite mineralized sediments that the Company interprets to be a thrust repeated section of the NPH. A total of 47 channel samples averaging 1.0 metre in length were cut in various orientations across the Growler exposure (Exhibit B). The best channel sample results include 2.75 g/t gold over 5.2 metres and 1.78 g/t gold over 5.0 metres (Table 1).

Table 1. Select Composited Channel Sample Results from the Growler Showing.

Channel ID


Interval (m)*


Au (g/t)

1


5.00


1.78

including


2.00


2.86

2


5.20


2.75

including


2.00


6.05

3


6.00



1.38

including


1.00


3.71

5


2.00


2.17

including


2.00


3.62

*True thickness unknown

In December 2019, a total of 375 metres of diamond drilling in five shallow holes (GR-19-01 to 05) was completed to test the mineralization exposed in trenching at the Growler Showing. The drill holes were designed to test the down-dip projection of mineralization and the trend of major host structures within the trench area. Although drilling failed to intersect the grades and thicknesses observed in the trench, the Company intends on fully testing the Growler area as it represents a structural repeat of the NPH, and along with the Betts Big Pond Showing, represents an area of excellent exploration potential. Weakly anomalous gold was returned from drill hole GR-19-01 (Table 2).

Red Cliff Pond Drilling - A total of 843 metres of diamond drilling was completed in three holes (RCP-20-01 to 03) to test priority geophysical signatures (coincident IP chargeability highs and magnetic lows) at the Red Cliff Pond Target (Exhibit C). Drilling successfully intersected the NPH sediments with alteration, quartz veining, pyrite mineralization and structures (faults and shear zones) that are amenable to hosting gold mineralization. Assays included 5.10 g/t gold over 0.5 metres (97.8 to 98.3 metres) in hole RCP-20-01 (Table 2).

East Pond Drilling - A total of 763 metres of diamond drilling was completed in four holes (EP-20-01 to 04) to test priority geophysical signatures (coincident IP chargeability highs and magnetic lows) at the East Pond Target (Exhibit C). Drilling successfully intersected the NPH sediments with quartz veining, multiple generations of pyrite mineralization and structures (brecciation, faults and shear zones) that are amenable to hosting gold mineralization. Weakly anomalous zones of gold mineralization hosted in quartz veined gabbro sills associated with the NPH were encountered in holes EP-20-01 and 02 (Table 2).

West Pond Drilling - A total of 998 metres of diamond drilling was completed in six holes (WP-20-01 to 06) from the ice to test priority geophysical signatures (magnetic lows), structural and geochemical anomalies (soil, rocks and tills down-ice to the southeast) at the West Pond Target (Exhibit C). Drilling successfully intersected the NPH sediments with quartz veining, multiple generations of pyrite mineralization and structures (brecciation, faults and shear zones) that are amenable to hosting gold mineralization. Geological interpretation of drill results suggests tight- to isoclinal-folding of the NPH in this area, increasing the thickness of the potential target. Deteriorating ice conditions in early March and the onset of the COVID-19 pandemic prevented the Company from fully testing targets beneath and adjacent to West Pond. No significant assays were returned from initial drilling at West Pond.

Table 2. Assay Highlight Table from the Winter Program at the Tilt Cove Project.

Drill Hole


From (m)


To (m)


Interval (m)*


Au (g/t)

GR-19-01


24.0


25.0


1.0


0.59

RCP-20-01


97.8


98.3


0.5


5.10

EP-20-01


120.7


121.7


1.0


0.63

EP-20-01


159.5


160.0


0.5


1.00

EP-20-02


154.0


155.0


1.0


1.28

*True thickness unknown

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core and channel samples were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

Mineralized intervals referred to in this press release are reported as drill and channel intersections and are apparent widths only. Not enough drilling has been completed to fully interpret true width at this time.

Composited assays from historical drill core are compiled from historic reports and data filed with the Department of Natural Resources, Newfoundland and Labrador. Sufficient work has not been completed by Anaconda geologists and QPs to validate these composited assays. Rock "grab" and "float" samples are selected samples and are not necessarily indicative of mineralization that may be hosted on the property.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

Exhibit A. A map showing the location of the Tilt Cove Project, as well as high priority exploration targets referenced in the press release, including the Growler Showing East, West and Scarp Zone Targets.

Exhibit B. A map outlining the extent of the Growler area, showing two kilometers of prospective strike associated with the NPH and including the recently discovered Growler and Betts Big Pond showings. Drill holes and results of recent channel samples and historic chip samples are show for the Growler and Betts Big Pond Showings.

Exhibit C. A map showing the location of high priority exploration targets including drill holes from the Winter Program at the West Pond, East Pond and Red Cliff Pond. Gold-in-soil anomalies are shown in red polygons and are located down-ice (southeast) of the Nugget Pond and Red Cliff Horizons. The Nugget Pond Deposit was situated immediately up-ice of a similar gold-in-soil anomaly.

Exhibit D. A map showing the Scarp Zone characterized by more than a kilometre of anomalous gold samples greater than 0.5 g/t gold, a strong deformation zone and associated with a past producing, gold rich base metal mine (the Tilt Cove Mine).

SOURCE: Anaconda Mining Inc.


View source version on accesswire.com:
https://www.accesswire.com/598163/Anaconda-Mining-Ramps-Up-E…

© 2020 ACCESSWIRE

Quelle: https://www.finanznachrichten.de/nachrichten-2020-07/5022620…

[IQ4U]

Wow!

Globe says insiders have been buying at Anaconda Mining

2020-07-27 07:58 ET - In the News

The Globe and Mail reports in its Saturday, July 25, edition that Anaconda Mining (52 cents), which has mining operations in the Baie Verte mining district of Newfoundland, recently reaffirmed its 2020 production guidance of between 18,000 and 19,000 ounces of gold. The Globe's guest columnist Ted Dixon writes in the Who Is Buying and Selling column that part of Anaconda Mining's growth strategy also includes the company's high-grade Goldboro gold project in Nova Scotia. Meanwhile, Mr. Dixon notes that over the past 90 days, three insiders have reported buying a combined total of 200,000 shares either through the public market or option exercises. The most recent reported buying took place on July 9 when chief executive officer Kevin Bullock bought 20,000 shares.
The Globe reported on March 21, 2019, that Beacon Securities analyst Michael Curran commenced coverage of Anaconda Mining with a "buy" rating and a 90 cent share target.
The analyst average was $1.40. In the item, Mr. Curran said, "We consider ANX shares to be undervaluing the potential addition of the Goldboro project to mining operations in the next few years." The shares could then be had for 28 cents.

© 2020 Canjex Publishing Ltd. All rights reserved.

Quelle: http://www.stockwatch.com/News/Item?bid=Z-C%3aANX-2938654&sy…

[IQ4U]

20.07.2020 | 13:08

Anaconda Mining Inc.: Anaconda Mining Reports Q2 2020 Production Results and Provides Update Regarding Annual General and Special Meeting

TORONTO, ON / ACCESSWIRE / July 20, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce production results and certain financial information from the three and six months ended June 30, 2020 ("Q2 2020"), as well as provide an update regarding the upcoming annual general and special meeting and a further update concerning the ongoing COVID-19 pandemic. All dollar amounts are in Canadian dollars. The Company expects to file its second quarter financial statements and management discussion and analysis on or around July 30, 2020.

Q2 2020 Highlights

Anaconda sold 3,712 ounces of gold in Q2 2020, generating metal revenue of $8.4 million at an average realized gold price1 of $2,249 (US$1,674) per ounce sold. As at June 30, 2020, the Company had 470 ounces of gold in gold doré inventory, which was subsequently sold in July.
Point Rousse produced 3,657 ounces of gold in Q2 2020, a 26% increase compared to Q2 2019, due to higher mill availability. Production for the first six months of 2020 was 8,654 ounces.
Mine operations produced 111,167 tonnes of ore during the second quarter from the Pine Cove open pit at an average grade of 1.22 g/t at a strip ratio of 5.1 waste tonnes to ore tonnes. The Company ended the second quarter with over 36,000 tonnes of ore in stockpiles.
The Pine Cove Mill processed 118,333 tonnes during Q2 2020 and achieved a recovery rate of 86.4%, an increase in throughput of 22% compared to Q2 2019 when unplanned maintenance of the regrind mill led to lower mill availability.
Anaconda announced drill results from multiple locations at the Point Rousse Project, including the Argyle Deposit where work is progressing on a mineral resource, reserve, and development plan, and exciting wide, high-grade intercepts at the Stog'er Tight Deposit.
The Company initiated a 5,500-metre infill diamond drill program at the Goldboro Gold Project, to convert priority Inferred Mineral Resources, considered proximal to planned development under the ongoing feasibility study, into Indicated Mineral Resources.
On July 16, 2020, Anaconda announced a non-brokered private placement for up to $5.51 million, which will accelerate its highly prospective exploration and diamond drill programs in Atlantic Canada.
As at June 30, 2020, the Company had a cash balance of $5.5 million, preliminary working capital1 of $6.1 million, and additional available liquidity of $0.3 million2 from an undrawn revolving line of credit facility.

1 Refer to Non-IFRS Measures Section below.

"During the second quarter, amid the ongoing uncertainty related to the COVID-19 pandemic, Anaconda sold 3,712 ounces of gold to generate metal revenue of $8.4 million at record high Canadian dollar gold prices. We have noted some variability to the block model that has impacted tonnes and grade in the second quarter which we are addressing, plus we have also identified areas of opportunities in the Pine Cove open pit based on ongoing blast hole assays and definition drilling which could positively impact the production profile going forward. We are also advancing the development of Argyle and expect to announce further details on the mineral resource and reserve soon, with the potential to accelerate the contribution of ore from Argyle to production. The second quarter also saw the announcement of strong drill results at Stog'er Tight and the initiation of a 5,500 metre drill program at the Goldboro Gold Project. Our $5.5 million of cash combined with our recent private placement of up to $5.51 million gives us the financial wherewithal to execute our growth strategy."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

COVID-19 Pandemic Update - Point Rousse has continued to operate throughout the pandemic and to the Company's knowledge, no employees, contractors, or consultants directly involved with Anaconda, whether at corporate or at site, have been diagnosed with COVID-19. Strict health and safety protocols, including social distancing, remain in place and are continually reviewed based on recommendations from medical authorities. Due to the low number of cases in Atlantic Canada, individuals are now able to move between the provinces and the Company has been able to resume its exploration activities, including at the Tilt Cove Gold Project.

Annual General and Special Meeting

Anaconda Mining Inc. will hold its Annual General and Special Meeting (the "Meeting") on July 30, 2020, beginning at 10:00 AM ET (Toronto). To proactively deal with the unprecedented public health impact of COVID-19, to ensure that no one is unnecessarily exposed to any risks, and to comply with recent Provincial and Federal guidance regarding public gatherings, shareholders and proxyholders are strongly encouraged NOT to attend the Meeting in person. Furthermore, so that the Corporation can mitigate potential risks to the health and safety of shareholders, employees, and the community, there will be strict limitations on the number of persons permitted entry to the Meeting in compliance with Provincial health guidance, and anyone who is not a registered shareholder or proxyholder will not be permitted entry.

The Corporation urges all shareholders to vote by proxy in advance of the Meeting and to virtually attend the Meeting through the live conference call details provided below:

Date and Time: Thursday, July 30, 2020, at 10:00 a.m. (Toronto time)

Dial-in Numbers: [phone] or [phone]

Webcast: https://www.issuerdirect.com/virtual-event/anxto

Quelle: https://www.finanznachrichten.de/nachrichten-2020-07/5021486…

[IQ4U]

Anaconda Mining Announces Results From Annual and Special Meeting of Shareholders

TORONTO, ON / ACCESSWIRE / July 30, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) (OTCQX:ANXGF) is pleased to announce that all resolutions proposed to shareholders at the annual and special meeting held today were duly passed.

All the nominees listed in the management information circular for the meeting were elected as directors of the Company. Detailed results of the vote for the election of directors are set out below.


Nominee
Votes For % For Votes Withheld % Withheld

Kevin Bullock
28,934,879 85.66 % 4,844,583 14.34 %

Michael Byron
28,859,758 85.44 % 4,919,704 14.56 %

Jonathan Fitzgerald
28,859,183 85.43 % 4,920,279 14.57 %

Lewis Lawrick
28,860,179 85.44 % 4,919,283 14.56 %

Mary-Lynn Oke
33,742,932 99.89 % 36,530 0.11 %


In addition: (i) PricewaterhouseCoopers LLP was reappointed as the Company's auditors for the ensuing year and the directors were authorized to fix their remuneration; and (ii) the unallocated stock options under the Stock Option Plan and Share Units under the Share Unit Plan were approved by a majority of shareholders.

For detailed voting results on each resolution, please refer to the Company's Report of Voting Results filed on SEDAR at www.sedar.com.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.


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Anaconda Mining Announces Completion of $5.51 Million Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

TORONTO, ON / ACCESSWIRE / July 31, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce that it has completed a non-brokered private placement for aggregate proceeds of $5,510,000, consisting of 9,500,000 "flow-through" common shares of the Company (the "FT Shares") at a price of $0.58 per FT Share (the "Offering"). Each FT Share will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada).

"The proceeds from the Offering will allow us to accelerate Anaconda's highly prospective exploration growth programs in Atlantic Canada, including the exciting Tilt Cove Gold Project, the high-grade development Goldboro Gold Project, and other targets on trend from our fully-permitted and operating Pine Cove Mill and tailings facility in Point Rousse, Newfoundland."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Any securities to be issued under the Offering will be subject to a hold period of four months and a day from the closing date of the Offering in accordance with the rules and policies of the Toronto Stock Exchange ("TSX"), and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

The gross proceeds of the Offered Securities will be used primarily for exploration and diamond drill programs at the Company's highly prospective Tilt Cove Gold Project in Newfoundland ("Tilt Cove"), the Goldboro and Lower Seal Harbour projects in Nova Scotia, as well as multiple targets at the Point Rousse Project, particularly along the Scrape Trend, following recent success at Stog'er Tight (see press release dated July 7, 2020).

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda, a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.

Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]


Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.


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NEWS:

Anaconda Mining Declares a Mineral Reserve at the Argyle Deposit and Finalizes Mine Plan with an After-Tax IRR of 245% at Cad$1,900 Per Ounce

Tuesday, August 4, 2020 7:50 AM

TORONTO, ON / ACCESSWIRE / August 4, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce an open-pit Mineral Reserve for the Argyle Deposit ("Argyle") at the Company's Point Rousse Project and has commenced certain mine development activities in anticipation of ore production in the fourth quarter of 2020. Mine ore tonnes will be trucked approximately 4.5 kilometres to the Company's operating Pine Cove Mill and tailings facility in Newfoundland (Exhibit A). The development of Argyle is based on a recent Updated Mineral Resource Estimate ("Mineral Resource") and initial Mineral Reserve ("Mineral Reserve") prepared in accordance with National Instrument 43-101 ("NI 43-101") and 2019 CIM MRMR Best Practice Guidelines. All currencies in this press release are reported in Canadian dollars unless otherwise specified (US amounts are based on a foreign exchange rate of CAD$0.75/US$1.00).

Highlights of the Argyle Deposit Include:

Probable Mineral Reserve of 535,592 tonnes at an average diluted grade of 2.06 grams per tonne ("g/t") gold containing 35,477 ounces, using a base case gold price of $1,900 (US$1,425);
Gold production of 30,865 ounces over a 22-month Life of Mine ("LOM") based on an 87% overall mill recovery;
Low upfront capital requirements of $2.98M and LOM sustaining capital $2.69M;
Operating cash costs per ounce sold and all-in sustaining cash costs ("AISC") per ounce sold of $1,219 (US$915) and $1,306 (US$980), respectively;
Pre-tax net present value at a 5% discount rate ("NPV 5%") of $13.1M and an Internal Rate of Return ("IRR") of 262%, and an after-tax NPV 5% of $11.4M with an IRR of 245%, all based on a $1,900 gold price;
At a gold price of $2,600 per ounce (US$1,950), Argyle produces a pre-tax NPV 5% of $32.7M and an IRR of 1,336% and an after-tax NPV 5% of $24.5M and an IRR of 1,273%; and
Indicated Mineral Resource of 488,000 tonnes at an average grade of 3.14 g/t gold containing 49,300 ounces (open-pit constrained), using a base case gold price of $1,900 (US$1,425);

"Building on continuous mining at Point Rousse for over ten years, we are pleased to again extend the mine life of the Point Rousse Project with the declaration of Mineral Reserves at Argyle. The discovery of the Argyle Deposit and now moving forward with its development into a producing mine validates our strategy of continued exploration at the Point Rousse Project to leverage our existing mill and tailings infrastructure and dedicated staff, contractors and stakeholders. Argyle generates after-tax cumulative free cash flow of over $12.5 million at a Canadian dollar gold price of $1,900, however at current spot gold prices Argyle could generate over $26 million in after-tax free cash flow over the next 22 months. With the recently announced drill discovery at Stog'er Tight on July 7, 2020 and $5.51M strategic financing, the Company is in an excellent position to execute on its growth strategy and provide strong potential for increased shareholder value."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Argyle Mineral Reserve

Total Probable Mineral Reserve at Argyle is 535,592 tonnes at an average diluted gold grade of 2.06 g/t and contains 35,477 gold ounces at a strip ratio of 8.1 to 1 (Table 1). "Open Pit" Indicated Category Mineral Resources reported below are inclusive of Mineral Reserves.

The Mineral Reserve was derived from an ultimate pit shell design based on parameters from the pit shell used to constrain the Mineral Resource. The ultimate pit shell design was created using Surpac 6.8™ mining software and running a reserve report between this shell and the most recently surveyed topographic surface. Probable Mineral Reserves were estimated at a cut‐off grade of 0.56 g/t gold and gold price of CAD$1,900/oz (US$1,425/oz) and are based only on Indicated Mineral Resource blocks. Proven Reserves were not defined, as the block model used for reserve reporting did not contain Measured Mineral Resource blocks.

The cut‐off grade of 0.56 g/t gold was derived from Anaconda's mining, processing, and general administration costs and process recovery at Point Rousse. This cut‐off grade is the minimum ore grade required to process the ore economically. Table 3 below shows some of the key assumptions and costs used in the ultimate pit optimization process and definition of Mineral Reserves. The costs and the selling price estimates are equal to the budgeted costs and revenues for the current (2020) fiscal year, which are in line with actual costs and revenues achieved year to date.

Table 1: Argyle Mineral Reserve Estimate - Effective Date: August 4, 2020

Category


Tonnes


Au (g/t)


Ounces

Probable


535,592


2.06


35,477

Footnotes:

See Gold Price, Capital, Operating and Tax Assumptions in Table 2 below.

Project Economics and Production Decision

Total gold ounces mined over the 22-month life of mine is expected to be 35,477 ounces at an average grade of 2.06 g/t gold from 535,592 tonnes of ore mined (see Table 2). It is expected that Argyle ore will be mined using conventional open pit mining methods with waste rock being stored locally at site and ore being transported by truck to the Pine Cove Mill. Total mined waste tonnes are 4,346,119 tonnes at an average strip ratio of 8.1 waste tonnes to ore tonnes. Inferred Mineral Resource within and adjacent to the current pit design will be assessed for conversion to Indicated Mineral Resource as mining progresses.

It is expected that Argyle ore will be batch-processed at approximately 1,200 tonnes per day with additional material from Pine Cove stockpiles supplementing the mill capacity of 1,300 tonnes per day. This will be accomplished with stockpile management techniques and circuit inventory methods in the mill to account for different mill feeds.

Argyle has robust economics with a pre-tax discounted NPV 5% of $13.05M with an IRR of 262%, and an after-tax NPV 5% of $11.4M with an IRR of 245%. Total initial capital requirements of $2.98M are required, mainly for pre-stripping of waste and site preparation.

Production from Argyle is slated to commence in August 2020. To date, the Argyle Deposit has been released from the Environmental Assessment Process, has received the required Mining and Surface leases, and is currently awaiting the final review of the Development, Rehabilitation and Closure Plan. These permits, in addition to an amendment to the existing Certificate of Approval for the Point Rousse Project, are expected in mid-August and development will commence soon after, as the Company transitions from mining at Pine Cove to Argyle during the third quarter of 2020.

Table 2: Key Assumptions and Costs Used in the Mineral Reserve

Production Profile

Gold Price - Base Case


CAD$1,900/ounce

Total Tonnes Milled


535,592 tonnes

Diluted Head Grade


2.06 g/t gold

Total Gold Ounces Mined


35,477 ounces

Reserve Cut-Off Grade


0.56 g/t gold

Mine Life (LOM)


22 months

Total Waste Tonnes


4,346,119 tonnes

Strip Ratio


8.1:1

Daily Mill Throughput


1,200 tonnes per day

Gold Recovery


87%

Total Gold Production


30,865 ounces


Capital Requirements

Pre-production Capital Cost


$2.98M

LOM Sustaining Capital Cost


$2.69M


Unit Operating Costs

Mining Costs


$42.32/tonne milled

Processing Costs


$23.26/tonne milled

G&A


$4.90/tonne milled

LOM Operating Cash Costs(1)


CAD$1,219 per ounce sold (US$914)

LOM All-in Sustaining Cash Costs(1)


CAD$1,306 per ounce sold (US$980)


Project Economics

Royalties(2)


3% net smelter return

Income Tax/Mining Tax Rates


30%/15%

Pre-Tax


NPV (5% Discount Rate)


$13.05M

Internal Rate of Return


262%

Payback Period (months)


12

Cumulative Cash Flows


$14.34M

After-Tax


NPV (5% Discount Rate)


$11.44M

Internal Rate of Return


245%

Payback Period (months)


12

Cumulative Cash Flows


$12.57M

(1) Cash cost includes mining cost, mine-level G&A, mill and refining cost. This is a non-GAAP performance measure; please see "Non-GAAP Measures and Other Financial Measures" below.

(2) A portion of the project is also subject to a 7.5% net profits interest ("NPI") with Royal Gold Inc. Depending on the price of gold in the future, operating and capital costs, the production profile of Argyle, the NPI could become payable at a future date.

Gold Price Sensitivity

An analysis of the Argyle economics was completed at a variety of gold selling prices, and on the base case CAD$1,900 optimized pit and Probable Reserves as outlined in Table 3. The analysis demonstrates robust economics for Argyle at CAD$1,900, with strong leverage to rising gold prices which have exceeded CAD$2,600 per ounce at times. At a gold price of CAD$2,600 per ounce (US$1,950), which approximates current spot prices, Argyle produces a pre-tax NPV 5% of $32.7M and an IRR of 1,336% and an after-tax NPV 5% of $24.5M and an IRR of 1,273%.

Table 3: Gold Selling Price Sensitivity Analysis

Gold Price


$1,500


$1,700


Base Case

$1,900


$2,100


$2,300


$2,600

Pre-tax NPV 5%


$1.8M


$7.4M


$13.1M


$18.7M


$24.3M


$32.7M

Pre-tax IRR


28%


124%


262%


459%


1,732%


1,336%

After-tax NPV 5%


$1.2


$6.5M


$11.4M


$15.9M


$19.3M


$24.5M

After-tax IRR


21%


114%


245%


443%


687%


1,273%

Argyle Mineral Resource

The total Open Pit Indicated Mineral Resource of 488,000 tonnes at an average grade of 3.14 g/t gold contains 49,300 gold ounces and the total Open Pit Inferred Mineral Resource of 9,000 tonnes at an average grade of 3.80 g/t gold contains 1,100 gold ounces at the 0.5 g/t gold cut-off (Table 4).

The Argyle Mineral Resource update was carried out by Mercator Geological Services Limited ("Mercator") of Dartmouth, Nova Scotia. Mercator also prepared the maiden Mineral Resource Estimate for the Argyle Deposit in 2017. The Mineral Resource is defined at a 0.50 g/t gold cut-off and is based on 1 metre assay composites capped at 20 g/t gold (Table 4). The Mineral Resource is undiluted and reflects partial percentage block modelling using Geovia-Surpac™ Ver. 2020 software. The Mineral Resource is constrained by a base case pit shell defined using a gold price of CAD$1,900, $4.00/tonne mining cost and $29.00/tonne cost for combined processing and G&A. Geovia Whittle™ Ver. 4.7.3 software was used by Dassault Systèmes Canada Inc. for pit optimization purposes. Mining, G&A, and processing costs plus gold price assumptions used in the optimization are based on the Company's 2020 budget.

Table 4: Argyle Mineral Resource - Effective Date: August 4, 2020

Type


Au (g/t) Cut -off


Category


Rounded Tonnes


Au g/t


Rounded Ounces

Open Pit


0.50


Indicated


488,000


3.14


49,300

Inferred


9,000


3.80


1,100

Out of Pit


2.00


Indicated


62,000


2.86


5,700

Inferred


56,000


3.89


7,000

Combined


0.50/2.00


Indicated


550,000


3.11


55,000

Inferred


65,000


3.88


8,100

Mineral Resource Estimate Notes

Mineral Resources were prepared in accordance with NI 43-101, the CIM Definition Standards (2014) and 2019 CIM MRMR Best Practice Guidelines.
Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Open Pit Mineral Resources occur within an optimized pit shell developed by Dassault Systèmes Canada Inc.; base-case optimization parameters include: mining at $4.00 per tonne, combined processing and G&A at $29.00 per tonne, average pit slope angles of 48 degrees (north) and 35 degrees (south); and a gold price of CAD$1,900/oz (US$1,425/oz)
"Open Pit" Mineral Resources are reported at a cut-off grade of 0.50 g/t gold within the optimized pit shell.
"Out of Pit" Mineral Resources are external to the optimized pit shell and are reported at a cut-off grade of 2.00 g/t gold. They are considered to have reasonable potential for future economic development using conventional underground mining methods based on a mining cost of $91 per tonne, processing and G&A cost of $29.00 per tonne, and a gold price of CAD$1,900/oz.
"Combined" Mineral Resources are the tonnage-weighted average summation of Open Pit and Out of Pit Mineral Resources.
Mineral Resources were interpolated using Ordinary Kriging methods applied to 1 metre downhole assay composites capped at 20 g/t gold.
An average bulk density value of 2.77 g/cm3 was applied to all Mineral Resources.
Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
Mineral Resource tonnages and troy ounces have been rounded to the nearest 1,000 and 100, respectively; totals may vary due to rounding.

A Technical Report prepared in accordance with NI43-101 for the Point Rousse Project will be filed on SEDAR (www.sedar.com) within 45 days of this news release. For readers to fully understand the information in this news release, they should read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Reserves. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

Qualified Persons

This news release has been reviewed and approved by Kevin Bullock, P.Eng., President and CEO and Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., "Qualified Persons" and Michael Cullen, P.Geo., and Matthew Harrington, P.Geo. of Mercator Geological Services Limited., "Independent Qualified Persons", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

Mr. Cullen, P.Geo. and Mr. Harrington, P.Geo. are responsible for disclosure regarding the Argyle Mineral Resource Estimate and Mr. Bullock, P.Eng. is responsible for disclosure regarding the Argyle Mineral Reserve Statement and related Project Economics.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NON-IFRS MEASURES

Anaconda has included certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Operating Cash Costs per Ounce of Gold - Anaconda calculates operating cash costs per ounce by dividing operating expenses per the consolidated statement of operations, net of silver sales by-product revenue, by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation and rehabilitation costs.

All-In Sustaining Costs per Ounce of Gold - Anaconda has adopted an all-in sustaining cost performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company's definition conforms to the all-in sustaining cost definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations.

The Company defines all-in sustaining costs as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), corporate administration costs, sustaining exploration, and rehabilitation accretion and amortization related to current operations. All-in sustaining costs excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, financing costs, debt repayments, and taxes. Canadian and US dollars are noted for realized gold price, operating cash costs per ounce of gold and all-in sustaining costs per ounce of gold. Both currencies are considered relevant and the Company uses the average foreign exchange rate for the period.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]


Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
|VP, Corporate Affairs
[phone]
[e-mail]

Exhibit A. A map showing the location of the Argyle Deposit in the eastern part of the Scrape Trend and its proximity to the Pine Cove Mine and Mill Complex, Point Rousse Project.

SOURCE: Anaconda Mining Inc.

Quelle: https://www.accesswire.com/600216/Anaconda-Mining-Declares-a…

[IQ4U]

ACCESSWIRE
04.08.2020 | 18:44

Magna Terra Minerals Inc.: Magna Terra Announces Closing of a $4.987 Million Non-Brokered Private Placement and Completion of the Acquisition of the ExploreCo Assets in Atlantic Canada from Anaconda Mining

TORONTO, ON / ACCESSWIRE / August 4, 2020 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSX-V:MTT) and Anaconda Mining Inc. ("Anaconda") (TSX:ANX) (OTCQX:ANXGF) (together the "Parties") are pleased to announce that Magna Terra has completed the acquisition of Anaconda's wholly-owned subsidiary, 2647102 Ontario Inc. ("ExploreCo") by issuing a total of 12,493,482 common shares of the Company on a post Consolidation basis (as defined herein) (the "Acquisition"). As a result, Magna Terra is acquiring a 100% interest in the Great Northern and Viking Projects in Newfoundland and Labrador and the Cape Spencer Project in New Brunswick (see news release dated October 15, 2019 and December 3, 2019 for more details on the Projects).

"We are thrilled with the investor reception we have had with this private placement in conjunction with the ExploreCo acquisition. We have closed an 'upsized' and oversubscribed round of financing that will fund our exploration initiatives on these two highly prospective projects well into 2021. We expect to have crews on the ground in mid-August to commence our Phase 1 programs, that will culminate with drill programs on high priority targets in the late 2020. Recent development and exploration success that companies like Galway Metals (Clarence Stream Project, NB), Marathon Gold (Valentine Lake, NL) and our colleagues at Anaconda (Goldboro, NS, and Point Rousse, NL) are having, along with the successful acquisition of Atlantic Gold (Moose River, NS) by St. Barbara, just to mention a few has catalysed investor interest in the Atlantic Canada. The acquisition of this impressive gold project portfolio with established 43-101 Mineral Resources and multiple drill ready targets will allow us to rapidly generate value for our shareholders as we undertake our goal of becoming the next Atlantic Canada gold exploration success story."

~ Lew Lawrick, President and CEO, Magna Terra Minerals

"In 2018, Anaconda created a wholly-owned subsidiary to hold our advanced stage, highly-prospective Atlantic Canadian exploration projects, with the aim of exploring strategic alternatives to realize value for shareholders. We have assembled these gold projects in areas with sizeable land packages that provide the platform to build significant district-scale mineral resources in Atlantic Canada in the long term. We are well positioned to realize future value for our shareholders in partnership with the strong team at Magna Terra, while remaining focused on our producing and development assets at the Point Rousse operation, the Goldboro Gold Project, and the exciting Tilt Cove Gold Project."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Acquisition Details

The Acquisition was subject to numerous conditions, including, (i) the Acquisition being approved by the disinterested shareholders of the Company, (ii) the consolidation of the Company's issued and outstanding shares on the basis of seven (7) old common shares for one (1) new common share of the Company (the "Consolidation") and (iii) the completion of a private placement for minimum gross proceeds of $1.5 million (see news release dated October 15, 2019 for more details on the Acquisition). All currencies in this press release are reported in Canadian dollars.

The Consolidation and the Acquisition were approved by the Company's disinterested shareholders at the annual and special meeting held on February 27, 2020. The Consolidation was effective on July 30, 2020, and immediately prior to the completion of the Acquisition there were 12,493,482 common shares of the Company issued and outstanding on a post Consolidation basis.

Financing Details

Concurrently with the closing of the Acquisition, the Company raised gross proceeds of $4.987 million (the "Offering") as follows on a post-Consolidation basis: (i) flow-through common shares (the "FT Shares") at a price of $0.25 per share for gross proceeds of $155,000 (620,000 FT Shares); (ii) common share Units (the "Units") at a price of $0.20 per Unit for gross proceeds of $2,222,000 (11.11 million units). Each Unit is comprised of one common share and one-half of one share purchase warrant (each whole warrant being a "Unit Warrant"), each Unit Warrant entitling the holder thereof to purchase one additional common share of the Company at a price of $0.30 per share for a period of 24 months; (iii) charity flow-through units (the "Charity FT Units") at a price of $0.29 per Charity FT Unit for gross proceeds of $2,610,000. Each Charity FT Unit is comprised of one flow-through common share and one-half of one common share purchase warrant (each whole warrant being a "Charity FT Unit Warrant"), each Charity FT Unit Warrant entitling the holder thereof to purchase one additional common share of the Company at a price of $0.30 per share for a period of 24 months.

In connection with the Offering, the Company paid Finder's fees totalling $87,660, and issued a total of 436,800 non-transferable share purchase warrants (the "Finder Warrants"), each Finder Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.30 per share for a period of 24 months . All securities issued in connection with the Acquisition and the Offering are subject to a regulatory hold period of four (4) months and one day expiring on December 1, 2020.

Related Party Transaction

One insider of the Company, Thorsen-Fordyce Merchant Capital Inc., a company controlled by Lewis Lawrick, Director, President and Chief Executive Officer of the Company, participated in the Offering by acquiring 2,750,000 Units of the Company for total gross proceeds of $550,000. This subscription is considered to be a "related party transaction" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the participation therein by such "related party" of the Company was not settled until shortly prior to the closing of the Offering. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(b) of MI 61-101 (Issuer Not Listed on a Specified Market). Additionally, the Corporation is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(b) of MI 61-101 (Fair Market Value Not More Than $2,500,000).

Furthermore, as the Acquisition constitutes a "Reverse Take Over" under the policies of the TSX Venture Exchange (the "Exchange"), the common shares of the Company issued to Anaconda in connection with the Acquisition and the securities held by the Principals of the Company (as such term is defined on the policies of the Exchange) are subject to an eighteen (18) month escrow agreement with Computershare Investor Services Inc. For more details regarding the securities subject to escrow in connection with the Acquisition, see the Company's information circular dated January 27, 2020 available on SEDAR under the Company's profile.

Following completion of the Acquisition and the Offering, Magna Terra has 45,716,964 common shares issued and outstanding, of which the existing shareholders of the Company, prior to the completion of the Acquisition and the Offering, and Anaconda each hold 12,493,482 shares (27.33%), and the subscribers of the Offering hold 20,730,000 shares (45.34%). In connection with the the Acquisition, the Parties have also entered into an investor rights agreement (the "Investor Rights Agreement") pursuant to which Anaconda will have certain rights, including:

- the right to participate in any future equity financings undertaken by Magna Terra in order to allow Anaconda to maintain its then percentage ownership interest in Magna Terra; such participation right will not apply to any issuance of securities (a) pursuant to Magna Terra's existing stock option plan and other incentive plans as may be approved by its shareholders from time to time, or to management, directors and employees of the Corporation for compensatory purposes; or (b) upon the exercise or conversion of any convertible or exchangeable securities outstanding on the date the Investor Rights Agreement was entered into; or (c) in connection with or pursuant to any merger, business combination, exchange offer, take-over bid, arrangement, asset purchase transaction or other acquisition of assets or shares of a third party, provided, however, that Anaconda will be permitted to exercise its participation right in connection with the issuance of any shares or other securities of Magna Terra that may be delivered pursuant to the terms of any option agreement, earn-in agreement or similar agreement that Magna Terra or any of its subsidiaries may be party to that does not exist as of the date the Investor Rights Agreement was entered into;

- the right to appoint two (2) directors on the Board of Directors of Magna Terra as long as Anaconda's ownership interest is above 20%, and one (1) director if Anaconda's ownership interest falls below 20%, it being agreed that such designated directors would be Mr. Lew Lawrick and Mr. Michael Byron for as long as such persons remained Directors of Anaconda.

All the above rights shall automatically terminate and be of no further force or effect at the later of (i) December 30, 2021, and (ii) Anaconda ceasing to beneficially own more than 10% of the issued and outstanding common shares of Magna Terra (on an undiluted basis).

The Investor Rights Agreement also provides that Anaconda will be subject, until December 30, 2021, to a standstill obligation pursuant to which, among other things, it will not without the prior authorization of the board of directors of Magna Terra, purchase, offer or agree to purchase or negotiate to purchase any securities or assets of Magna Terra other than in connection with acquisitions carried out by Anaconda or its affiliates where such securities, when added together with the securities held by Anaconda, its affiliates and any other person acting jointly or in concert would cause Anaconda's ownership percentage to exceed 35%. The Investor Rights Agreement further provides that Anaconda will vote or cause to be voted, all common shares of Magna Terra beneficially held or controlled by Anaconda, at all shareholder meetings of Magna Terra to be held until December 30, 2021, in favour of each matter recommended by the Board of Directors of Magna Terra for approval by its shareholders at each such meeting. A copy of the Investor Rights Agreement will be filed shortly on SEDAR under the Company's profile.

The Acquisition and Offering remain subject to the final approval from the Exchange. It is expected that trading in the common shares of the Company will resume under the same trading symbol (TSX-V: MTT / CUSIP: 559271200 / ISIN: CA5592712007) two (2) business days following the issuance of the final bulletin of the Exchange.

Atlantic Canada Project Highlights

Encompasses three projects in the established mining jurisdictions of Newfoundland and Labrador and New Brunswick; district scale exploration potential; past production; three known deposits with numerous high-grade gold showings and prospects. Highlights include:

Combined 12,375 hectares of highly prospective mineral lands over three projects in Atlantic Canada;
Includes total 28 km strike along two, regional scale, gold bearing structures;
District scale exploration potential with numerous gold showings, prospects and deposits;
Established mining jurisdictions of Newfoundland and Labrador and New Brunswick; and

Low cost of exploration with all projects road accessible.

Great Northern and Viking Projects

Includes 9,775 hectares of highly prospective geology coincident with 20 kilometres of strike along a regional scale, gold related structure - the Doucer's Valley Fault;
Located adjacent to the Doucer's Valley Fault, part of the Long Range Fault system - a fertile gold bearing structure, similar to that associated with Marathon Gold's Valentine Lake project in central Newfoundland, which has been the focus of recent significant resource growth and discovery;
Host to several known deposits including Rattling Brook (Great Northern) and Thor (Viking) as well as high-grade prospects including Jackson's Arm (Great Northern) that present numerous drill ready targets and potential for near term discovery; and
Mineral Resources - Magna Terra has completed an updated NI 43-101 Technical Report and Mineral Resource Estimate on the Rattling Brook Deposit, details of which are available on SEDAR, and on the Company's website.

Details of the Great Northern and Viking Projects

The Great Northern and Viking Projects comprise 2 separate claim blocks (9,775 hectares) that are located 3 km north and 15 km south of the community of Jackson's Arm, NL, respectively (Exhibit A and Exhibit B).

The Great Northern Project is comprised of four mineral exploration licences that collectively encompass 167 mineral claims covering approximately 4,175 hectares.

The Viking Project is comprised of 3 mineral exploration licences totalling 224 claims covering 5,600 hectares.

Geology and Mineralization

The Great Northern and Viking Projects are centered along the Doucer's Valley Fault, a regional splay of the Long Range Fault. The Doucer's Valley Fault is a significant geological control on, and host to, several gold deposits, including the Rattling Brook Deposit and the Thor Deposit.

Gold mineralization at Great Northern and Viking occurs either as disseminated gold, hosted in Precambrian or Ordovician granites or in the unconformably, overlying adjacent volcanic and sedimentary rocks. The sedimentary-hosted gold mineralization is typically higher grade. Rocks underlying each claim block show both styles of mineralization with granite-hosted gold mineralization in the Road and Incinerator Trail Zones and sedimentary-rock-hosted Beaver Dam Zone, or as a combination as in the Apsy Zone. The Thor Deposit is hosted in Precambrian granites and the adjacent Kramer Prospect shows mineralization hosted within the overlying Cambrian quartzites.

Alteration consists of mesothermal style quartz ± iron carbonate ± sulfide veins and stockworks with 2- 5% total sulfides consisting of pyrite, galena, chalcopyrite or sphalerite, and locally show trace amounts of visible gold.

The Great Northern Project is host to several untested gold prospects and showings, including the Shrik, Stocker, Boot N' Hammer, 954 Prospects, and Incinerator Trail Zone. Surface grab samples assaying up to 20.2 grams per tonne ("g/t") gold and 1,232 g/t silver at the Boot N' Hammer Prospect; up to 56.7 g/t gold and 2.75 oz/t silver at the Stocker Prospect; up to 7.2 g/t gold at the Shrik Prospect; and 13.6 g/t gold at the 954 Prospect. The Incinerator Trail Zone has been tested by four reconnaissance-style diamond drill holes in the 1980's and returned assays of 1.78 g/t gold over 4.0 m (hole RB-35) and 2.30 g/t gold over 4.05 m (hole RB-41).

The Shrik, Stocker, Boot N' Hammer prospects are hosted within a 1.7 km long by 40 to 400 m wide continuous alteration zone, that is controlled by a north-south striking fault. The fault extends immediately to the north along strike with similar repeating fault zones to the east outlining a potential strike extent of an additional 4 km. Initially, exploration in this area will be a primary focus for Magna Terra.

The Viking Project is host to variably tested gold prospects and showings including the Viking, Asgard, Thor's Cross, Odin's Triangle and Kramer Prospects. Trenching along the Viking Trend has returned gold grades ranging between 0.10 and 0.40 g/t over continuously sampled intervals of up to 40 m, and high-grade results including a grab sample from a large boulder of altered granite from the northeast end of the Viking Trend which returned 12.0 g/t gold, and a channel sample grading 9.9 g/t gold and 52 g/t silver over 1.4 metres.

Cape Spencer Highlights

8 kilometres of highly prospective strike in the hanging wall of a regional scale structure with 10 known gold occurrences including the Emilio Zone (7.86 g/t over 7.4 m; AB-04-06) and drill ready targets;
Hosted within similar Proterozoic-aged rocks of the Avalon Zone that host multi-million ounce gold deposits such as Haile, Ridgeway, and Hope Brook gold deposit
Past production (1985-1989) of 194,224 tonnes producing 4,832 ounces @~50% recovery through heap leach;
Two gold deposits open along strike - past drilling demonstrates broad zones of mineralization;
Project has been dormant since 2005, with most of the historic work conducted between 1982-1987.
Magna Terra has completed an updated NI 43-101 Technical Report and Mineral Resource Estimate on the Cape Spencer Deposit, details of which are available on SEDAR, and on the Company's website.

Details of the Cape Spencer Project

The Cape Spencer Project is an exploration stage project that has a history of past-production and the potential for near-term resource growth and discovery. Cape Spencer is located 15 kilometers southeast of Saint John, New Brunswick (Exhibit A and Exhibit C), comprising 104 mineral exploration claims covering 2,365 ha of land.

The Cape Spencer Project is centered along the Millican Lake Fault, a regional splay of the Caledonia and Cobequid Fault Zones. The Property is underlain by Precambrian Millican Lake granite, and Coldbrook and Cape Spencer volcanic and sedimentary rocks. The Precambrian stratigraphy is unconformably overlain by and in fault contact with younger Carboniferous sedimentary rocks of the Lancaster Formation.

Gold mineralization at Cape Spencer is hosted within Precambrian Millican Lake granite or bounding Coldbrook and Cape Spencer volcanic and sedimentary rocks, with mineralization and alteration focussed along strongly faulted and sheared contacts between the two lithologies. Alteration consists of pervasive and patchy illite + pyrite + quartz ± iron carbonate ± sulfide veins and stockworks with 2-5% total sulfides consisting of pyrite, galena, chalcopyrite or sphalerite, and locally show trace amounts of visible gold.

There are several gold prospects that warrant additional exploration over an 8-kilometre strike outside of the Pit and Northeast Zones particularly in the eastern half of the property that will initially be a primary focus for Magna Terra.

Highlights from historic exploration work outside of the main deposit areas from 1982 to 2004 include:

Emilio Zone - Prospect at Eastern end of Property

7.86 g/t gold over 7.4 m (AB-04-06; near surface);
12.00 g/t gold over 1.4 m (chip) and 2.77 g/t gold over 3.0 m (chip); and
Surface grab samples up to 168.00 g/t gold

Birches Zone - 300-metre-long gold-bearing alteration zone south of the Northeast Zone.

17.85 g/t gold over 1.0 metre within a zone grading 5.23 g/t gold over 4.0 metres (MR-150);
9.48 g/t gold over 1.0 metre within a zone grading 4.01 g/t gold over 4.0 metres (MR-149);
3.60 g/t gold over 5.0 metres (AB-04-08);
12.00 g/t gold over 1.4 metres (chip) and 2.77 g/t gold over 3.0 metres (chip); and
Surface grab samples up to 168.00 g/t gold

Zone A - *Grab samples up to 53.50 g/t gold.

Zone C - *Grab samples up to 8.92 g/t gold and chip sample of 2.77 g/t gold over 3.0 m.

Zone D - *Five occurrences of visible gold with grab samples up to 7.12 g/t gold.

*Grab samples are selected samples and are not necessarily indicative of mineralization that may be hosted on the property.

Early Warning

In connection with the Acquisition, Anaconda acquired ownership and control of 12,493,482 common shares in the capital of Magna Terra representing approximately 27.32% of the issued and outstanding common shares of Magna Terra as of July 30, 2020. The deemed consideration payable for the common shares was $2,498,696.40, calculated as an aggregate of 12,493,482 common shares at a price of $0.20 per common share. Prior to the completion of the Acquisition, Anaconda did not hold any securities in Magna Terra.

The common shares were acquired pursuant to a share purchase agreement between Magna Terra and Anaconda and did not take place through the facilities of any market for Magna Terra's securities. This transaction was effected for the sale of ExploreCo, a wholly-owned subsidiary of Anaconda. Anaconda may increase or decrease their investments in Magna Terra at any time, or continue to maintain their current investment position, depending on market conditions or any other relevant factor.

This portion of this new release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of the related early warning report may be obtained on Magna Terra's SEDAR profile or by contacting Anaconda at 150 York Street, Suite 410, Toronto, Ontario M5H 3S5, Attention: Robert Dufour tel: [phone].

Qualified Person

This news release has been reviewed and approved by David A. Copeland, P. Geo., Chief Geologist with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 - Standard for Disclosure for Mineral Projects. Widths from drill core intervals reported in this press release are presented as core lengths only. True widths are unknown. All quoted drill core sample intervals, grades and production statistics have been compiled from historic assessment reports obtained from either the Government of New Brunswick or Newfoundland and Labrador.

About Magna Terra

Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada. Magna Terra owns two district-scale, advanced gold exploration projects in the world class mining jurisdictions of New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its precious metals discovery on its Luna Roja Project, as well as an extensive portfolio of district scale drill ready projects available for option or joint venture.

About Anaconda

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FOR FURTHER INFORMATION PLEASE CONTACT:

Magna Terra Minerals Inc.

Lewis Lawrick
President and CEO, Director
647-478-5307
Email: [e-mail]
Website: www.magnaterraminerals.com

Anaconda Mining Inc.
Kevin Bullock
President and CEO, Director
[phone]
[e-mail]


Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Quelle: https://www.finanznachrichten.de/nachrichten-2020-08/5035580…

[IQ4U]

Bob Moriarty heute morgen über Anaconda auf 123gold...:

Anaconda Shows IRR After Tax of 1273% at Argyle at $1950 Gold

Bob Moriarty

Aug 7, 2020

Anaconda has started to get some appreciation from the market after being ignored for the past few years as their shares were on the bargain bin table. They keep on announcing results that would double the shares overnight with any other producer. They need to get production over 100,000 ounces a year to get some respect and they are getting closer.

Meanwhile their press releases continue to astound. Their latest shows both a mineral reserve at the Argyle Deposit in Newfoundland and an after tax IRR of 245% at CAD $1900 an ounce. Do I really need to point out that gold is a lot higher than that? What they have drilled off at Argyle is a small deposit but the numbers are indicative of how the increase in the POG can pole vault the shares of a junior mining company.

The company is actually making money which is a switch for a junior mining company. They just completed a private placement for $5.5 million in flow through shares at a premium to the market and have embarked on a major 10,000-meter drill program at Tilt Cove.

Anaconda is aiming for production of 150,000 ounces a year in the next 3-5 years. That is going to require the Goldboro project with its 1.4 million ounces to be the main contribution to gold output. ANX anticipates the feasibility study to be completed by the end of 2020. Process plant construction will begin in 2021 with commercial production soon after. Dates are hard to determine at this point because of the Covid situation but the company is well cashed up and moving forward.

I own shares, they are advertisers and as always you are responsible for your own investments decisions.

Anaconda Mining
ANX-T $.58 (Aug 5, 2020)
ANXGF-OTCBB 146.4 million shares
Anaconda Mining website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Quelle: http://www.321gold.com/editorials/moriarty/moriarty080720.ht…

[IQ4U]

Newsfile
07.08.2020 | 14:51

Metals Creek Resources Receives Final $20,000 Option Payment from Anaconda Mining for Tilt Cove Option

Toronto, Ontario--(Newsfile Corp. - August 7, 2020) - Metals Creek Resources Corp. (TSXV: MEK) (OTC: MCREF) (Metals Creek or the "Company") is pleased to announce that the company has received the final $20,000 option payment for the Tilt Cove option from Anaconda Mining Inc. on the 6th August, 2020.

Under the revised terms of the Tilt Cove Agreement, to maintain the Option with respect to the Licenses in full force, ANX shall pay to MEK the following amounts:

on the Effective Date (November 7, 2016) - $20,000 in cash by wire transfer and 50,000 Consideration Shares (see definition below); (Paid)
on the first anniversary of the Effective Date - $40,000 in cash by wire transfer and 100,000 Consideration Shares; (Paid)
on the second anniversary of the Effective Date - $60,000 in cash by wire transfer and 150,000 Consideration Shares; (Paid)
On the third anniversary of the Effective Date - $20,000 in cash and 100,000 Consideration Shares; (Paid)
On or before February 6, 2020 - $20,000 in cash; (Paid)
On or before May 6, 2020 - $20,000 in cash; and (Paid)
On or before August 6, 2020 - $20,000 in cash. (Paid)

Anaconda has now earned a 100% interest in the Tilt Cove Property and Metals Creek will retain a 1 % Net Smelter Return (NSR) Royalty.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property from Newmont Corporation, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has an 8 km strike length of the prolific Porcupine-Destor Fault (P-DF). In addition, Metals Creek has signed an agreement with Newmont Corporation, where Metals Creek can earn a 100% interest in the past producing Dona Lake Gold Project in the Pickle Lake Mining District of Ontario.

Metals Creek also has multiple quality projects available for option in Ontario and Newfoundland which can be viewed on the Company's website. Parties interested in seeking more information about properties available for option can contact the Company at the number below.

Additional information concerning the Company is contained in documents filed by the Company with securities regulators, available under its profile at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Alexander (Sandy) Stares, President and CEO

Metals Creek Resources Corp
telephone: [phone]
fax: [phone]
email: [e-mail]
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek

Quelle: https://www.finanznachrichten.de/nachrichten-2020-08/5039055…

[IQ4U]

Anaconda Mining Continues to Expand The Stog'er Tight Deposit, Intersecting 4.37 G/T Gold Over 15.0 Metres and 3.32 G/T Gold Over 8.0 Metres; Further Expands Drill Program

TORONTO, ON / ACCESSWIRE / August 18, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce results of an ongoing drill program (the "Drill Program") along strike from the Stog'er Tight Mine and Deposit ("Stog'er Tight"), located approximately three (3) kilometres east of the Company's operating Pine Cove Mill and Tailings Facility in Newfoundland (Exhibit A). The Drill Program to date consists of 1,727 metres in 22 diamond drill holes (BN-20-319 to -340) and was initiated to follow up on the recent drill discovery of mineralization announced on July 7, 2020, which included 5.54 grams per tonne ("g/t") gold over 20.0 metres. To date the Drill Program has successfully expanded mineralization northwestward in the down-dip direction to 170 metres and has added 180 metres of strike (Exhibit B).

Highlights of the Drill Program include:
◾4.37 g/t gold over 15.0 metres (98.0 to 113.0 metres), including 10.41 g/t gold over 5.0 metres in diamond drill hole BN-20-338;
◾3.32 g/t gold over 8.0 metres (38.0 to 46.0 metres); including 11.80 g/t gold over 1.0 metre in diamond drill hole BN-20-326;
◾2.40 g/t gold over 9.0 metres (27.0 to 36.0 metres); including 13.50 g/t gold over 1.0 metre in diamond drill hole BN-20-323;
◾3.86 g/t gold over 5.0 metres (12.0 to 17.0 metres) in diamond drill hole BN-20-333; and
◾2.15 g/t gold over 8.0 metres (81.0 to 89.0 metres), including 6.37 g/t gold over 1.0 metre in diamond drill hole BN-20-335.

Selected intersections from the Drill Program at Stog'er Tight are shown in Table 1 below.

"Our recent drilling has successfully expanded mineralization at Stog'er Tight down-dip to 170 metres and added 180 metres of strike. Importantly, this mineralization is less than 75 metres below surface and remains open for expansion with geological and geophysical evidence indicating more immediate drill targets. We have therefore expanded the drill program to 4,000 metres with the goal of further outlining this growing deposit. Located only a few kilometres from the Pine Cove Mill and Tailings Facility, the continuing growth of the Stog'er Tight Deposit represents excellent potential for future mining at Point Rousse."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

The results of the Drill Program indicate that a significant zone of gold mineralization extends at least 650 metres west of, and represents a strike extension of, the Stog'er Tight Mine sequence. Mineralization at Stog'er Tight now extends over a total strike length of 1,200 metres and is open along strike to the southwest and down-dip on its western half. Gold mineralization is hosted within a shallowly northwest dipping gabbro sill and has been tested to a vertical depth of 75 metres.

The highest grades and thicknesses intersected thus far are associated with a geophysical anomaly (an IP chargeability high associated with all gold deposits at Point Rousse) that extends 250 metres northward, parallel with a similar IP anomaly associated with the Stog'er Tight Deposit. A second IP chargeability anomaly, of similar extent and associated with surface gold mineralization, is located 250 metres further southwest along strike, highlighting additional potential for expansion (Exhibit C). Both geophysical anomalies trend beneath a shallow pond (generally less than a few metres) known as Camp Pond (Exhibit B and C). Fox Pond, located east of Camp Pond, was similarly underlain by the Stog'er Tight Deposit which was successfully mined in 2018 and 2019 by partial dewatering of the pond under appropriate Provincial and Federal Government permits.

Table 1: Highlighted composited assays from diamond drill holes BN-20-319 to BN-20-340


Drillhole

From (m)

To (m)

Length (m)

Gold (g/t)


BN-20-323

27.0

36.0

9.0

2.40


including

29.0

30.0

1.0

13.50


BN-20-324

33.0

36.0

3.0

1.01


BN-20-325

22.0

28.0

6.0

1.94


BN-20-326

38.0

46.0

8.0

3.32


including

43.0

44.0

1.0

11.80


BN-20-328

32.0

33.0

1.0

0.86


BN-20-329

56.0

57.0

1.0

2.45


and

64.0

74.0

10.0

0.61


BN-20-330

37.0

38.0

1.0

0.98


and

50.0

55.0

5.0

1.79


BN-20-331

17.0

18.0

1.0

1.08


and

67.0

68.0

1.0

0.89


BN-20-332

19.0

20.0

1.0

2.08


and

23.8

24.8

1.0

0.58


BN-20-333

12.0

17.0

5.0

3.86


and

46.0

47.0

1.0

2.75


BN-20-334

20.6

21.6

1.0

0.60


and

37.8

38.8

1.0

1.10


BN-20-335

81.0

89.0

8.0

2.15


Including

86.0

87.0

1.0

6.37


BN-20-336

81.0

82.0

1.0

4.42


BN-20-338

98.0

113.0

15.0

4.37


including

108.0

113.0

5.0

10.41


and

112.0

113.0

1.0

45.70


Footnotes:

1 - Diamond drill holes BN-19-319 to -322, -327 and BN-20-339 to - 340 have no significant assays.

2 - Interval expressed as core length only; true thickness is estimated to be 50-90% of interval length due to local drilling conditions that does not always allow for drilling orthogonally to the apparent dip of mineralization.

About Stog'er Tight

The Stog'er Tight Deposit, located three (3) kilometres east of the Pine Cove Mill adjacent to existing road networks, has been defined over a strike length of 650 metres to date. Anaconda produced a total of 17,102 ounces of gold from 349,942 tonnes of ore from the Stog'er Tight Mine between June 2018 and January 2020. Gold from Stog'er Tight was recovered through the Pine Cove Mill with an average head grade of 1.75 g/t gold at an overall recovery of approximately 87%. Anaconda is currently assessing the potential for expanding the Stog'er Tight Deposit and developing additional resources along strike.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

Mineralized intervals referred to in this press release are reported as drill intersections and are apparent widths only. True widths reported in this press release are estimated to be approximately 50-90% of drill intervals.

All samples and the resultant composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core and percussion samples were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

Quelle: https://stockhouse.com/news/press-releases/2020/08/18/anacon…

[IQ4U]

Indikatoren:





Quelle: https://www.barchart.com/stocks/quotes/ANX.TO/opinion

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Anaconda Mining Intersects 16.79 g/t Gold over 3.0 metres and 9.78 g/t Gold over 5.0 metres at Goldboro, Expands Drill Program to 15,000 metres

TORONTO, ON / ACCESSWIRE / September 3, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce initial drill results from the 5,500-metre drill program ("Drill Program") announced on June 10, 2020, at its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The Drill Program was designed to convert priority Inferred Mineral Resources, considered proximal to planned development in the ongoing feasibility study, into Indicated Mineral Resources. To date, the Drill Program has included 4,860 metres of diamond drilling in 20 holes with assays returned for 10 holes, including holes BR-20-105 to BR-20-114 (Exhibit A). The Drill Program has intersected 13 mineralized zones including 11 with visible gold occurrences. Critically, the mineralized zones were consistently intersected near the area projected by the geological model.

Selected composited highlights from the Drill Program include:
•16.79 grams per tonne ("g/t") gold over 3.0 metres (113.0 to 116.0 metres) in hole BR-20-111;
•9.78 g/t gold over 5.0 metres (353.0 to 358.0 metres) including 46.86 g/t over 1.0 metre in hole BR-20-114;
•11.11 g/t gold over 3.7 metres (154.3 to 158.0 metres) in hole BR-20-108;
•19.39 g/t gold over 1.0 metre (87.0 to 88.0 metres) in hole BR-20-107;
•23.22 g/t gold over 1.0 metre (97.0 to 98.0 metres) in hole BR-20-109;
•16.73 g/t gold over 1.0 metre (194.0 to 195.0 metres) in hole BR-20-112; and
•27.46 g/t gold over 1.0 metre (230.0 to 231.0 metres) within a zone grading 2.54 g/t gold over 14.0 metres in hole BR-20-113.

A table of selected composited intersections from the Drill Program are shown in Table 1 below.

Selected composited highlights from historic* drilling in the immediate areas of the Drill Program include:
•215.74 g/t gold over 3.65 metres (193.85 to 197.5 metres) in hole OSK-11-04;
•206.65 g/t gold over 1.5 metres (117.0 to 118.5 metres) in hole OSK-11-02; and
•6.23 g/t gold over 1.5 metres (223.0 to 224.5 metres) in hole OSK-11-04.

"This drill program was initiated as we recognized a significant opportunity to optimize the value of the Goldboro Gold Project and directly impact and potentially increase the overall value of the Project and other key economic metrics. The drill results indicate the presence of mineralization and grade where predicted by the geological model, providing the confidence to upgrade these portions of the deposit. Based on the success of the drill results to date, and in response to other near-term opportunities identified by the on-going feasibility study, we have initiated a further 9,500 metres of drilling to bring the drill program to 15,000 metres. The goal of the expanded drill program remains the same - to capitalize on identified opportunities to upgrade significant resources proximal to planned development, but with emphasis on near surface, open pit resources. These drill results and those anticipated in the next couple of months will be incorporated into an updated mineral resource and used for the final mine design for the feasibility study to be released in Q4 of 2020."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

The Drill Program, including the expanded drilling, is funded using existing flow through funds, but has also benefited from a grant received from the Government of Nova Scotia through a Mineral Resources Development Fund, shared funding exploration grant MRDF-2020-SF-035.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

Table 1. Selected Composite Highlights from the Drill Program.


Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

Visible Gold


BR-20-105

159.0

161.0

2.0

1.47


including

159.0

160.0

1.0

2.38


BR-20-106

134.0

134.7

0.7

1.42


and

150.2

150.7

0.5

2.20

VG


and

162.7

163.5

0.8

1.13


BR-20-107

69.0

70.0

1.0

1.38


and

87.0

88.0

1.0

19.39


and

95.0

96.0

1.0

0.94

VG


BR-20-108

97.0

98.0

1.0

1.62


and

130.0

131.5

1.5

6.19


including

130.0

130.5

0.5

16.77


and

154.3

158.0

3.7

11.11

VG


including

154.3

155.3

1.0

33.35


and

155.9

156.7

0.8

26.95


BR-20-109

56.0

57.0

1.0

2.56


and

97.0

98.0

1.0

23.22

VG


and

134.0

135.0

1.0

3.07


and

171.0

172.0

1.0

2.87


and

217.0

218.0

1.0

1.64

VG


and

201.0

202.0

1.0

7.41


and

26.4

28.4

1.0

6.18


BR-20-110

115.9

116.6

0.7

5.17

VG


and

190.0

191.0

1.0

0.51


BR-20-111

73.0

74.0

1.0

1.85


and

80.0

81.0

1.0

0.72


and

113.0

116.0

3.0

16.79


including

113.0

114.0

1.0

49.88


BR-20-112

94.0

95.0

1.0

5.30


and

194.0

195.0

1.0

16.73


and

210.0

211.0

1.0

1.50


and

257.0

258.0

1.0

0.92

VG


and

267.0

270.0

3.0

3.86


including

268.0

269.0

1.0

9.17


BR-20-113

195.0

197.0

2.0

1.91

VG


and

202.0

206.0

4.0

3.40


including

202.0

203.0

1.0

11.97


and

230.0

244.0

14.0

2.54


including

230.0

231.0

1.0

27.46

VG


and

235.0

236.0

1.0

5.88


BR-20-114

78.0

80.0

2.0

5.01

VG


and

114.8

115.8

1.0

1.35


and

326.0

327.0

1.0

2.49


and

353.0

358.0

5.0

9.78

VG



This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL, for Au by fire assay (30 g) with an AA finish.

Samples analyzing greater than 0.5 g/t Au via 30 g fire assay were re-analyzed at Eastern via total pulp metallic. For the total pulp metallic analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150-mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Anaconda considers total pulp metallic analysis to be more representative than 30 g fire assay in coarse gold systems such as the Goldboro Deposit.

Reported mineralized intervals are measured from core lengths. Intervals are estimated to be approximately 80-100% of true widths.

* Historic drill core and assay certificates have been reviewed and validated by the qualified person and are appropriate for use in this press release.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]



Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]


Quelle: https://www.anacondamining.com/prviewer/release_only/id/4444…

[IQ4U]

Am 08.09.2020 hat der CEO, Kevin Bullock, 50.000 Aktien im Freien Handel erworben!

Kurs +/- 0,60 CAD

Quelle: https://www.canadianinsider.com/node/7?menu_tickersearch=anx

[IQ4U]

Handel am Freitag in Toronto:

[IQ4U]

Aus dem Kanadischen Bord:

DoumDiDoum

September 14, 2020 - 06:52 PM

Post# 31557356

RE:ANX is on Laurentian Bank of Canada Securities' Watch List

Copy-paste the below URL and go to page 4 of the document.

https://www.linkedin.com/feed/update/urn:li:activity:6711283…

Quelle: https://stockhouse.com/companies/bullboard/t.anx/anaconda-mi…

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NEWS:

Anaconda Mining Files Updated Mineral Resource Estimate and Mineral Reserves for the Point Rousse Gold Project
Mon, September 21, 2020, 11:15 PM GMT+2

TORONTO, ON / ACCESSWIRE / September 21, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) is pleased to announce the filing of a technical report prepared in accordance with National Instrument 43-101 ("43-101") reporting on updated Mineral Resource and Mineral Reserves estimates ("MRMR") for its 100%-owned Point Rousse Gold Project ("Point Rousse", or the "Project") in Newfoundland and Labrador, Canada. The technical report follows the previous announcement on August 4, 2020 outlining the updated MRMR for the Argyle Deposit ("Argyle") at Point Rousse (All dollar amounts are in CDN $ unless otherwise stated).

Highlights of the Mineral Resource and Mineral Reserves at Point Rousse Include:

Point Rousse Probable Mineral Reserve includes material from Argyle, the Pine Cove Mine and the Pine Cove Run of Mine ("ROM") stockpile and includes 706,443 tonnes at an average diluted grade of 1.90 grams per tonne ("g/t") gold containing 43,183 ounces, based on a gold price of $1,900 (US$1,425);

Point Rousse combined Indicated Mineral Resource of 1,470,000 tonnes at an average grade of 2.34 g/t gold containing 110,800 ounces, and a combined Inferred Mineral Resource of 515,000 tonnes at an average grade of 3.33 g/t gold containing 55,100 ounces;

Mineral Reserves from the Pine Cove Mine Pit and ROM stockpile include 170,851 tonnes at an average diluted grade of 1.40 g/t gold, which will provide mill throughput into late Q4 2020;

Mineral Reserves from the Argyle Deposit include 535,592 tonnes at an average diluted grade of 2.06 g/t gold containing 35,477 ounces; and

At Argyle a pre-tax net present value at a 5% discount rate ("NPV 5%") of $13.1M and an Internal Rate of Return ("IRR") of 262%, and an after-tax NPV 5% of $11.4M with an IRR of 245%, all based on a $1,900 (US$1,425) gold price.

"The Point Rousse Technical Report demonstrates strong economics of continued mining at Anaconda's Point Rousse Operation. While we continue to profitably process ore from the final benches of the Pine Cove Mine, we have commenced the development of the Argyle Gold Mine, which at a conservative gold price of C$1,900 will generate after-tax cumulative free cash flow of over $12.6 million. At current Canadian gold prices, Argyle could generate an after-tax net present value of over $20 million over the next 22 months. Meanwhile we are conducting a 4,000 metre drill program to extend mineralization at Stog'er Tight where we recently announced a drill discovery of broad, high-grade mineralization, that has not yet been incorporated into the mineral resource for Stog'er Tight outlined in the technical report. Leveraging our established infrastructure and strong operating team, we continue to demonstrate our ability to fast track successful exploration to production in the Baie Vert peninsula."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Point Rousse Mineral Reserve Estimate

The total Probable Mineral Reserves for the Point Rousse Project are as follows:

Table 1. Probable Mineral Reserves - Point Rousse Project (see notes for Effective Dates)

Deposit


Reserve Category


Cut-off Grade (g/t)


Tonnes (t)


Average Grade of Gold (g/t)


Contained Ounces of Gold

Argyle


Probable


0.56


535,592


2.06


35,477

Pine Cove - Mine+ROM


Probable


0.50


170,851


1.40


7,706

Pine Cove - Marginal Stockpile


Probable


0.50


252,560


0.55


4,466

Total Combined


Probable





959,003





47,649

Point Rousse Mineral Reserve Notes

Mineral Reserves were prepared in accordance with NI 43-101, the CIM Definition Standards for MRMR (2014) and 2019 CIM MRMR Best Practice Guidelines.

Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

The Argyle Mineral Reserve is based on the Mineral Resource Estimate prepared by Mercator Geological Services Limited with an effective date August 4, 2020.

The Argyle Mineral Reserve Estimate has an effective date of August 4, 2020.

The Argyle Mineral Reserve Estimate is reported from Indicated Resource blocks at a 0.56 g/t cut-off within the optimized pit shell design developed by Dassault Systèmes Canada Inc.; base-case optimization parameters include: mining at $4.00 per tonne, combined processing and G&A at $29.00 per tonne, average pit slope angles of 48 degrees (north) and 35 degrees (south), daily mill throughput of 1,200 tonnes per day, and average process recovery of 87%, and a gold price of CAD$1,900/oz (US$1,425/oz).

The Pine Cove Mineral Reserve Estimate is based on the Mineral Resource Estimate prepared by Adiuvare Geology and Engineering Ltd. with effective date August 8, 2020 and internal reconciliation of stockpiled marginal and ROM with an Effective Date of August 31, 2020.

The Pine Cove Mineral Reserve has an effective date of August 31, 2020.

The Pine Cove Mineral Reserve Estimate is reported from Indicated Resource blocks at a 0.50 g/t cut-off as determined by ongoing mining at the Pine Cove Mine including mining costs of $3.50 per tonne mined, combined processing and G&A costs of $28.60 per tonne milled, daily mill throughput of 1,200 tonnes per day, an average process recovery of 87%, and a gold price of CAD$1,900/oz (US$1,425/oz).

Argyle Mineral Reserves Economics

As previously reported, total gold ounces scheduled for mining at Argyle over the 22-month life of mine is expected to be 35,477 ounces at an average grade of 2.06 g/t gold from 535,592 tonnes of ore mined (see Table 2). It is expected that Argyle ore will be mined using conventional open pit mining methods with waste rock being stored locally at site and ore being transported by truck to the Pine Cove Mill. It is expected that Argyle ore will be batch-processed at approximately 1,200 tonnes per day with additional material from Pine Cove stockpiles supplementing the mill capacity of 1,300 tonnes per day. This will be accomplished with stockpile management techniques and circuit inventory methods in the mill to account for different mill feeds.

Anaconda has received material permits to initiate development at Argyle, including a release from the Environmental Assessment and receipt of a Certificate of Approval (Department of Municipal Affairs and Environment), and the acceptance of the Development, Rehabilitation and Closure plan (Department of Natural Resources). Initial development activities have commenced, including cutting, land clearing and access construction, with mining of ore expected to commence in Q4 2020.

Argyle has robust economics with a pre-tax discounted NPV 5% of $13.05M with an IRR of 262%, and an after-tax NPV 5% of $11.4M with an IRR of 245%. Total initial capital requirements of $2.98M are required, mainly for pre-stripping of waste and site preparation.

Table 2: Key Assumptions and Costs Used in the Argyle Mineral Reserve (all prices shown are in Canadian Dollars)

Production Profile

Gold Price - Base Case


CAD$1,900/ounce

Total Tonnes Milled


535,592 tonnes

Diluted Head Grade


2.06 g/t gold

Total Gold Ounces Mined


35,477 ounces

Reserve Cut-Off Grade


0.56 g/t gold

Mine Life (LOM)


22 months

Total Waste Tonnes


4,346,119 tonnes

Strip Ratio


8.1:1

Daily Mill Throughput


1,200 tonnes per day

Gold Recovery


87%

Total Gold Production


30,865 ounces


Capital Requirements

Pre-production Capital Cost


$2.98M

LOM Sustaining Capital Cost


$2.69M

Unit Operating Costs

Mining Costs


$42.32/tonne milled

Processing Costs


$23.26/tonne milled

G&A


$4.90/tonne milled

LOM Operating Cash Costs(1)


CAD$1,219 per ounce sold (US$914)

LOM All-in Sustaining Cash Costs(1)


CAD$1,306 per ounce sold (US$980)


Project Economics

Royalties(2)


3% net smelter return

Income Tax/Mining Tax Rates


30%/15%

Pre-Tax



NPV (5% Discount Rate)


$13.05M

Internal Rate of Return


262%

Payback Period (months)


12

Cumulative Cash Flows


$14.34M

After-Tax



NPV (5% Discount Rate)


$11.44M

Internal Rate of Return


245%

Payback Period (months)


12

Cumulative Cash Flows


$12.57M

(1) Cash cost includes mining cost, mine-level G&A, mill and refining cost. This is a non-GAAP performance measure. please see "NON-IFRS Measures" below.

(2) A portion of the project is also subject to a 7.5% net profits interest ("NPI") with Royal Gold Inc. Depending on the price of gold in the future, operating and capital costs, the production profile of Argyle, the NPI could become payable at a future date.

Argyle Gold Price Sensitivity

An analysis of the Argyle economics was completed at a variety of gold selling prices, and on the base case CAD$1,900 optimized pit and Probable Mineral Reserves as outlined in Table 3. The analysis demonstrates robust economics for Argyle at CAD$1,900, with strong leverage to rising gold prices which have exceeded CAD$2,600 per ounce at times. At a gold price of CAD$2,600 per ounce (US$1,950) which is in line with recent market pricing, Argyle could produce a pre-tax NPV 5% of $32.7M and an IRR of 1,336% and an after-tax NPV 5% of $24.5M and an IRR of 1,273%.

Table 3: Gold Selling Price Sensitivity Analysis

Gold Price


$1,500


$1,700


Base Case

$1,900


$2,100


$2,300


$2,600

Pre-tax NPV 5%


$1.8M


$7.4M


$13.1M


$18.7M


$24.3M


$32.7M

Pre-tax IRR


28%


124%


262%


459%


1,732%


1,336%

After-tax NPV 5%


$1.2


$6.5M


$11.4M


$15.9M


$19.3M


$24.5M

After-tax IRR


21%


114%


245%


443%


687%


1,273%

Point Rousse Mineral Resources

The total Mineral Resources, inclusive of Mineral Reserves, for the Point Rousse Project are as follows:

Table 4. Total Mineral Resource Estimate - Point Rousse Project (See Notes for Effective Dates)

Point Rousse Mineral Resources

Open Pit (OP) Constrained

Deposit


Cut-off (g/t)


Indicated Tonnes (t)


Gold (g/t)


Ounces

Argyle


0.5


488,000


3.14


49,300

Pine Cove


0.5


722,000


1.64


38,100

Stog'er Tight


0.5


102,000


2.39


7,800

Combined Indicated


0.5


1,311,000


2.26


95,100

Deposit


Cut-off (g/t)


Inferred Tonnes (t)


Gold (g/t)


Ounces

Argyle


0.5


9,000


3.80


1,100

Pine Cove


0.5


13,000


1.56


700

Stog'er Tight


0.5


134,000


3.06


13,200

Combined Inferred


0.5


156,000


2.98


14,900


Point Rousse Mineral Resources

Out of Pit (OoP)

Deposit


Cut-off (g/t)


Indicated Tonnes (t)


Gold (g/t)


Ounces

Argyle


2.0


62,000


2.86


5,700

Pine Cove


2.0


83,000


3.01


8,000

Stog'er Tight


2.0


14,000


4.27


1,900

Combined Indicated


2.0


159,000


3.06


15,700

Deposit


Cut-off (g/t)


Inferred Tonnes (t)


Gold (g/t)


Ounces

Argyle


2.0


56,000


3.89


7,000

Pine Cove


2.0


93,000


2.93


8,800

Stog'er Tight


2.0


210,000


3.62


24,400

Combined Inferred


2.0


359,000


3.48


40,200


Combined Point Rousse Mineral Resources

Category


Cut-off (g/t)


Tonnes (t)


Gold (g/t)


Ounces

Indicated


0.5/2.0


1,470,000


2.34


110,800

Inferred


0.5/2.0


515,000


3.33


55,100

Mineral Resource Estimate Notes

Mineral Resources were prepared in accordance with NI 43-101, the CIM Definition Standards for MRMR (2014) and 2019 CIM MRMR Best Practice Guidelines.

Mineral Resources are inclusive of Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Open Pit Mineral Resources occur within an optimized pit shell developed by Dassault Systèmes Canada Inc.; base-case optimization parameters include: mining at $4.00 per tonne, combined processing and G&A at $29.00 per tonne, and a gold price of CAD$1,900/oz (US$1,425/oz).

"Open Pit" Mineral Resources are reported at a cut-off grade of 0.50 g/t gold within the optimized pit shell and are considered to have reasonable prospects for eventual economic extraction by open pit mining methods.

"Out of Pit" Mineral Resources are external to the optimized pit shell and are reported at a cut-off grade of 2.00 g/t gold. They are considered to have reasonable prospects for eventual economic extraction using conventional underground mining methods based on a mining cost of $91 per tonne, processing and G&A cost of $29.00 per tonne, and a gold price of CAD$1,900/oz.

"Combined" Mineral Resources are the tonnage-weighted average summation of Open Pit and Out of Pit Mineral Resources.

Mineral Resources were interpolated using Ordinary Kriging methods applied to 1 metre downhole assay composites capped at 15 and 30 g/t gold (Pine Cove and Stog'er Tight) and 20 g/t gold (Argyle).

An average bulk density value of 2.77 g/cm3 was applied to all Mineral Resources.

Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

Mineral Resource tonnages and troy ounces have been rounded to the nearest 1,000 and 100, respectively; totals may vary due to rounding.

The following Mineral Resource Estimate Effective Dates apply: Argyle - August 4, 2020, Pine Cove - August 8, 2020, and Stog'er Tight - April 22, 2020.

Technical Report Filings and Qualified Person Statements

The technical report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.anacondamining.com. For readers to fully understand the information in this news release, they should read the technical report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Resources and Mineral Reserves. The technical report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The technical report, entitled " NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Update on the Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada " with a report date of September 18, 2020, was authored by Independent Qualified Persons Cath Pitman (P. Geo.) of Adiuvare Geology and Engineering Ltd., Michael Cullen (P. Geo) and Matthew Harrington (P. Geo) both of Mercator Geological Services Limited., , and Qualified Persons Kevin Bullock (P. Eng), Jordan Cramm (P.Eng.), Chris Budgell (P.Eng.), Paul McNeill (P.Geo.) and David Copeland (P. Geo) of Anaconda Mining.

This news release has been prepared and approved by Kevin Bullock, P.Eng., President and CEO and Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., and Michael Cullen, P.Geo., and Matthew Harrington, P.Geo. of Mercator Geological Services Limited., and Cath Pitman of Adiuvare Geology and Engineering Ltd., all qualified persons as defined under NI 43-101.

Mr. Harrington, P.Geo. is responsible for disclosure regarding the Argyle Mineral Resource Estimate. Ms. Cath Pitman, P. Geo is responsible for disclosure regarding the Pine Cove and Stog'er Tight Mineral Resource Estimate. Mr. Bullock, P.Eng. is responsible for disclosure regarding the Point Rousse Mineral Reserve Statement and related Project Economics. Mr. McNeill is responsible for all other scientific and technical information disclosed in this news release.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019 and the technical report both of which are available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NON-IFRS MEASURES

Anaconda has included certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Operating Cash Costs per Ounce of Gold - Anaconda calculates operating cash costs per ounce by dividing operating expenses per the consolidated statement of operations, net of silver sales by-product revenue, by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation and rehabilitation costs.

All-In Sustaining Costs per Ounce of Gold - Anaconda has adopted an all-in sustaining cost performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company's definition conforms to the all-in sustaining cost definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations.

The Company defines all-in sustaining costs as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), corporate administration costs, sustaining exploration, and rehabilitation accretion and amortization related to current operations. All-in sustaining costs excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, financing costs, debt repayments, and taxes. Canadian and US dollars are noted for realized gold price, operating cash costs per ounce of gold and all-in sustaining costs per ounce of gold. Both currencies are considered relevant and the Company uses the average foreign exchange rate for the period.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Public Relations
[phone]
[e-mail]

SOURCE: Anaconda Mining Inc.

Quelle: https://finance.yahoo.com/news/anaconda-mining-files-updated…

[IQ4U]

Anaconda Mining Inc.: Anaconda Mining Reports Further Drill Results From the Goldboro Gold Project, Including 17.95 G/T Gold Over 2.5 Metres and 4.16 G/T Gold Over 22.8 Metres

TORONTO, ON / ACCESSWIRE / October 6, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce drill results from an ongoing 15,000-metre drill program ("Drill Program") announced on September 3, 2020, at its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The Drill Program is designed to convert priority Inferred Mineral Resources, considered proximal to planned development in the feasibility study, into Measured and Indicated Mineral Resources of the Goldboro Deposit.

The results to date continue to confirm significant high-grade gold zones in key areas being considered in the feasibility study, but excitingly they are being found within much wider zones of gold mineralization. These indications of broader mineralized zones could positively impact the mine planning work currently being carried out as part of the optimized feasibility study by reducing inherent mine dilution and increasing the contained number of near-surface ounces.

Selected composited highlights from the Drill Program include:

4.16 grams per tonne ("g/t") gold over 22.8 metres (122.2 to 145.0 metres) including 45.30 g/t gold over 0.5 metres in hole BR-20-131;
17.95 g/t gold over 2.5 metres (84.4 to 86.9 metres) including 87.50 g/t gold over 0.5 metres in hole BR-20-128;
3.55 g/t gold over 10.9 metres (234.0 to 244.9 metres) including 26.43 g/t gold over 1.0 metre in hole BR-20-120;
3.92 g/t gold over 8.2 metres (37.0 to 45.2 metres) including 24.50 g/t gold over 1.0 metre in hole BR-20-131;
59.21 g/t gold over 1.0 metre (113.0 to 114.0 metres) in hole BR-20-117;
2.28 g/t gold over 13.0 metre (289.0 to 302.0 metres) including 22.28 g/t gold over 1.0 metre in hole BR-20-116;
1.45 g/t gold over 18.0 metre (269.0 to 287.0 metres) including 9.39 g/t gold over 1.0 metres in hole BR-20-119; and
6.87 g/t gold over 4.3 metres (97.5 to 101.8 metres) including 27.30 g/t gold over 1.0 metre in hole BR-20-132.

A table of selected composited intersections from the Drill Program are shown in Table 1 below.

"We continue to identify significant opportunities to add value to the Goldboro Gold Project through the optimization process, who have brought fresh eyes to this exciting development project. The expanded and ongoing infill Drill Program to date has confirmed that the key areas considered in the feasibility study contain significant high-grade gold zones, and importantly we are also seeing that they are commonly found within much wider zones of gold mineralization. These indications of broader mineralized zones could positively impact the mine planning work as part of the optimized feasibility study by reducing inherent mine dilution and increasing the number of ounces per vertical metre. We currently have three drill rigs in operation to complete the 15,000 metre Drill Program and remain focused on the goal of upgrading significant resources proximal to planned near-surface development, which we believe has the potential to positively impact the economics of the feasibility study."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

To date, a total of 5,678.5 metres in 28 drill holes (BR-20-105 to BR-20-132) have been completed under the Drill Program, with assays from drill holes BR-20-105 to BR-20-114 previously reported in a news release dated September 3, 2020. Current results for drill holes BR-20-115 to BR-20-132, 3,550.5 metres in 18 drill holes, include intersections of mineralized zones within the East Goldbrook Gold System ("EG Gold System") and drill holes BR-20-125 to BR-20-132 are within the West Goldbrook Gold System ("WG Gold System") as further detailed in Table 1 and Exhibit A. A total of nine (9) visible gold occurrences were observed in these drillholes which consistently intersected mineralized belts as predicted by the current resource model. Mineralized intersections in both the EG Gold System and within the WG Gold System commonly included narrow high-grade intercepts within broader zones of gold mineralization.

The Drill Program is funded using existing flow through funds but has also benefited from a grant received from the Government of Nova Scotia through a Mineral Resources Development Fund, shared funding exploration grant MRDF-2020-SF-035.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate...

Quelle: https://www.finanznachrichten.de/nachrichten-2020-10/5088451…

[IQ4U]

NEWS:

Anaconda Mining Inc.: Anaconda Mining Reports Further Drill Results From the Goldboro Gold Project, Including 17.95 G/T Gold Over 2.5 Metres and 4.16 G/T Gold Over 22.8 Metres

TORONTO, ON / ACCESSWIRE / October 6, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce drill results from an ongoing 15,000-metre drill program ("Drill Program") announced on September 3, 2020, at its 100%-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The Drill Program is designed to convert priority Inferred Mineral Resources, considered proximal to planned development in the feasibility study, into Measured and Indicated Mineral Resources of the Goldboro Deposit.

The results to date continue to confirm significant high-grade gold zones in key areas being considered in the feasibility study, but excitingly they are being found within much wider zones of gold mineralization. These indications of broader mineralized zones could positively impact the mine planning work currently being carried out as part of the optimized feasibility study by reducing inherent mine dilution and increasing the contained number of near-surface ounces.

Selected composited highlights from the Drill Program include:

4.16 grams per tonne ("g/t") gold over 22.8 metres (122.2 to 145.0 metres) including 45.30 g/t gold over 0.5 metres in hole BR-20-131;
17.95 g/t gold over 2.5 metres (84.4 to 86.9 metres) including 87.50 g/t gold over 0.5 metres in hole BR-20-128;
3.55 g/t gold over 10.9 metres (234.0 to 244.9 metres) including 26.43 g/t gold over 1.0 metre in hole BR-20-120;
3.92 g/t gold over 8.2 metres (37.0 to 45.2 metres) including 24.50 g/t gold over 1.0 metre in hole BR-20-131;
59.21 g/t gold over 1.0 metre (113.0 to 114.0 metres) in hole BR-20-117;
2.28 g/t gold over 13.0 metre (289.0 to 302.0 metres) including 22.28 g/t gold over 1.0 metre in hole BR-20-116;
1.45 g/t gold over 18.0 metre (269.0 to 287.0 metres) including 9.39 g/t gold over 1.0 metres in hole BR-20-119; and
6.87 g/t gold over 4.3 metres (97.5 to 101.8 metres) including 27.30 g/t gold over 1.0 metre in hole BR-20-132.

A table of selected composited intersections from the Drill Program are shown in Table 1 below.

"We continue to identify significant opportunities to add value to the Goldboro Gold Project through the optimization process, who have brought fresh eyes to this exciting development project. The expanded and ongoing infill Drill Program to date has confirmed that the key areas considered in the feasibility study contain significant high-grade gold zones, and importantly we are also seeing that they are commonly found within much wider zones of gold mineralization. These indications of broader mineralized zones could positively impact the mine planning work as part of the optimized feasibility study by reducing inherent mine dilution and increasing the number of ounces per vertical metre. We currently have three drill rigs in operation to complete the 15,000 metre Drill Program and remain focused on the goal of upgrading significant resources proximal to planned near-surface development, which we believe has the potential to positively impact the economics of the feasibility study."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

To date, a total of 5,678.5 metres in 28 drill holes (BR-20-105 to BR-20-132) have been completed under the Drill Program, with assays from drill holes BR-20-105 to BR-20-114 previously reported in a news release dated September 3, 2020. Current results for drill holes BR-20-115 to BR-20-132, 3,550.5 metres in 18 drill holes, include intersections of mineralized zones within the East Goldbrook Gold System ("EG Gold System") and drill holes BR-20-125 to BR-20-132 are within the West Goldbrook Gold System ("WG Gold System") as further detailed in Table 1 and Exhibit A. A total of nine (9) visible gold occurrences were observed in these drillholes which consistently intersected mineralized belts as predicted by the current resource model. Mineralized intersections in both the EG Gold System and within the WG Gold System commonly included narrow high-grade intercepts within broader zones of gold mineralization.

The Drill Program is funded using existing flow through funds but has also benefited from a grant received from the Government of Nova Scotia through a Mineral Resources Development Fund, shared funding exploration grant MRDF-2020-SF-035.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate...

Quelle: https://www.finanznachrichten.de/nachrichten-2020-10/5088451…

[IQ4U]

NEWS:

Danke!

Anaconda Mining produces 5,444 oz Au in Q3

2020-10-15 07:56 ET - News Release

Mr. Kevin Bullock reports

ANACONDA MINING REPORTS Q3 2020 PRODUCTION RESULTS, GENERATES $12.7M IN REVENUE FROM THE SALE OF 5,105 OUNCES OF GOLD

Anaconda Mining Inc. has released production results and certain financial information from the three and nine months ended Sept. 30, 2020. The company expects to file its third quarter financial statements and management discussion and analysis on or around Nov. 5, 2020.

Q3 2020 highlights:

Anaconda produced 5,444 ounces of gold in Q3 2020, a 16-per-cent increase compared with Q3 2019 and a 49-per-cent increase from the second quarter of 2020, due to higher grade and tonnes processed.
The company sold 5,105 ounces of gold in Q3 2020, generating metal revenue of $12.7-million at an average realized gold price of $2,486 ($1,866 (U.S.)) per ounce.
The Pine Cove mill processed 120,359 tonnes during Q3 2020 and achieved mill availability of 97.6 per cent, compared with 114,373 tonnes processed and a mill availability of 97.0 per cent in Q3 2019. Mill throughput was 1,340 tonnes per day in Q3 2020, demonstrating continued improvement over both the first and second quarter of 2020.
Mining operations produced 187,185 tonnes of ore during the third quarter, a 39-per-cent increase over Q3 2019, as the operation mined the bottom levels of the Pine Cove pit. The company ended the third quarter with a stockpile of 100,000 tonnes of ore at an estimated average grade of 1.42 grams per tonne.
The company has commenced the development of the Argyle gold mine, with the first load of ore being deposited on the ore pad this week. Total material moved during the quarter included 79,287 tonnes of waste development related to preproduction stripping at Argyle.
At the Tilt Cove gold project, the company initiated a 35-line-kilometre geophysical survey and 10,000-metre diamond drill program to test priority targets.
On July 31, 2020, Anaconda completed a non-brokered private placement for $5.5-million, which will accelerate its highly prospective exploration and diamond drill programs in Atlantic Canada, particularly at the Goldboro gold project and the Tilt Cove gold project.
As at Sept. 30, 2020, the company had a cash balance of $14.8-million, preliminary working capital of $12.2-million, and additional available liquidity of $300,000 from an undrawn revolving line of credit facility.


"Our Point Rousse operation had an excellent quarter, producing 5,444 ounces of gold and achieving sales of 5,105 ounces of gold to generate revenue of $12.7-million. Tonnes and grades mined increased significantly from the second quarter of 2020, as the operation was able to quickly capitalize on opportunities defined in the south end of the pit, which offset the variability to the block model experienced in the previous quarter. With the final blast in the Pine Cove pit having taken place in the first week of October, Point Rousse has built up a significant stockpile, which will provide most of the mill throughput in Q4 2020. We are excited to announce that this week the first truck of ore was delivered from the Argyle gold mine, which will become the predominant source of throughput over the next two years. Argyle is a highly profitable mine, which at a conservative gold price of $1,900 will generate cumulative cash flow of over $12.5-million, and significantly more at prevailing prices. With $14.8-million in the treasury, it is an exciting time for the company as it continues to generate free cash flow while advancing its development project at Goldboro and drilling its highly prospective targets at the Tilt Cove gold project," said Kevin Bullock, president and chief executive officer, Anaconda Mining.

THIRD QUARTER OPERATING STATISTICS

Three months ended Sept. 30 Nine months ended Sept. 30
2020 2019 2020 2019
Mine statistics
Ore production (tonnes) 187,185 134,347 401,573 289,837
Waste production (tonnes) 387,116 545,873 1,510,830 1,252,710
Total material moved (tonnes) 574,301 680,220 1,912,403 1,542,547
Waste:ore ratio 2.1 4.1 3.8 4.3
Mill statistics
Availability (%) 97.6 97.0 98.0 87.0
Dry tonnes processed 120,359 114,373 351,828 291,026
Tonnes per day (tpd) 1,340 1,282 1,311 1,225
Grade (grams per tonne) 1.59 1.49 1.42 1.53
Recovery (%) 88.5 85.6 87.5 81.7
Gold ounces produced 5,444 4,687 14,098 11,770
Gold ounces sold 5,105 4,652 13,948 13,057




Operations overview for the three months ended Sept. 30, 2020

Anaconda sold 5,105 ounces of gold during the third quarter of 2020, generating metal revenue of $12.7-million at an average realized gold price of $2,486 ($1,866 (U.S.)) per ounce, and year to date has sold 13,948 ounces to generate metal revenue of $31.6-million. For the nine months ended Sept. 30, 2020, the company produced 14,098 ounces and is on track to meet its annual production guidance to produce and sell between 18,000 and 19,000 ounces of gold in 2020.

Point Rousse mill operations

The Pine Cove mill processed 120,359 tonnes during Q3 2020, an increase of 5 per cent compared with the third quarter of 2019 when the mill was re-establishing itself as a cornerstone asset of the company after a challenging Q2 2019. Since the challenges experienced in the second quarter of 2019, the mill has operated consistently and effectively, maintaining high levels of mill availability and throughput.

Average grade during Q3 2020 was 1.59 grams per tonne, a 7-per-cent increase over the third quarter of 2019 and an increase of 43 per cent from Q2 2020 when the mine experienced variability to the block model in certain lower areas of the pit. The mill achieved an average recovery rate of 88.5 per cent, an increase from 85.6 per cent achieved in Q3 2019 as a result of the higher-grade profile in Q3 2020. The higher throughput and better recovery resulted in gold production of 5,444 ounces, an increase of 16 per cent compared with the third quarter of 2019.

Point Rousse mine operations

During the third quarter of 2020, the mine operations produced 187,185 tonnes of ore from the Pine Cove pit, a 39-per-cent increase from Q3 2019, which reflects the lower strip ratio at the lower levels at the Pine Cove pit. The company ended the third quarter with an ore stockpile of 100,000 tonnes, which will provide mill throughput in the fourth quarter as the development of Argyle is completed. The Pine Cove pit has now transitioned to a fully permitted in-pit tailings facility, with over 15 years of capacity at current throughput rates.

The mine operations achieved a strip ratio of 2.1 waste tonnes to ore tonnes between the Pine Cove pit and development at Argyle, a decrease compared with the first half of 2020, as the operation completed mining of the bottom levels of the Pine Cove pit. The strip ratio is lower compared with the third quarter of 2019 when mining activity was focused on pushbacks to the Pine Cove pit.

During the third quarter, the company received material permits to initiate development at Argyle, including a release from the environmental assessment and receipt of a certificate of approval (Department of Municipal Affairs and Environment), and the acceptance of the development, rehabilitation and closure plan (Department of Natural Resources). Initial development activities have commenced, including cutting, land clearing and access construction, which allowed for the mining of ore to commence in the middle of October, 2020.

Qualified person

Kevin Bullock, PEng, president and chief executive officer, Anaconda Mining, is a qualified person as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

About Anaconda Mining Inc.

Anaconda is a Toronto Stock Exchange- and OTCQX-listed gold mining, development and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte mining district of Newfoundland, which includes the fully permitted Pine Cove mill, tailings facility and deepwater port, as well as approximately 11,000 hectares of highly prospective mineral lands including those adjacent to the past-producing, high-grade Nugget Pond mine at its Tilt Cove gold project. Anaconda is also developing the Goldboro gold project in Nova Scotia, a high-grade resource and the subject of a continuing feasibility study.

We seek Safe Harbor.

Quelle: https://www.stockwatch.com/News/Item/?bid=Z-C:ANX-2975101

[IQ4U]

And the beat goes on...

Anaconda Mining Commences 10,000 metre Diamond Drill Program at Its Tilt Cove Gold Project in Newfoundland
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TORONTO, ON / ACCESSWIRE / October 22, 2020 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce it has commenced a 10,000 metre diamond drill program ("Drill Program") at its Tilt Cove Gold Project ("Tilt Cove") (Exhibit A), located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by road from the Company's Pine Cove Mill and long-term tailings facility. As discussed in the announcement of July 21, 2020 the Drill Program follows the completion of a 19.1 line kilometre IP Geophysical Survey (19.1 line kilometres) and geological mapping.

"We are excited to resume drilling in the Tilt Cove area of Newfoundland, a significant, recently consolidated land package encompassing the same geological trend as the past producing, high-grade Nugget Pond Mine, which had an average recovered grade of 9.85 grams per tonne gold. Tilt Cove covers a 22-kilometre strike extent of the Betts Cove Complex, a highly prospective geological terrane including the iron-rich sedimentary unit known as the Nugget Pond Horizon. The 10,000 metre drill program will focus initially at the Scarp Zone and the Growler target and then move to the West Pond and East Pond targets, with drilling expected to continue into the winter. We are aggressively executing on our exploration and growth plans which are funded by a strong treasury position and recent flow-through financing. Anaconda's main differentiating factor is our ability to leverage our existing permitted infrastructure - a high-grade discovery at Tilt Cove has the potential to significantly impact shareholder value."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Drill Program and Target Areas Overview

The Scarp Zone (Exhibit B) - This target is characterized by more than a kilometer of exposed Nugget Pond Horizon coincident with a similar strike length consisting of 107 gold bearing samples over 0.5 grams per tonne ("g/t") gold. The area is also characterized by a strong deformation zone adjacent to the Nugget Pond Horizon which dips shallowly northwest beneath younger Silurian rocks. This target will be tested with 2,500 metres of diamond drilling.

Growler Target (Exhibit C) - The Growler area is a newly recognized area of prospectivity with a strike of 2 kilometers underlain by the Nugget Pond Horizon and associated with two large shear zones adjacent to the Nugget Pond Horizon. The Growler target also includes recently discovered surface mineralization including channel samples at Growler that include 2.75 g/t gold over 5.2 metres and 1.78 g/t gold over 5.0 metres, in addition to chip samples at the Betts Big Pond showing that include 8.19 g/t gold over 2.3 metres. This area will be tested with up to 2,500 metres of diamond drilling.

West Pond Target (Exhibit D) - This target is characterized by a 1.3-kilometre long zone beneath West Pond that is up-ice from a very strong gold-in-soil anomaly very similar in character and dimension to the gold-in-soil anomaly associated with the discovery of the high-grade Nugget Pond deposit and well as a coincident break in magnetic intensity where a north-easterly trending lineament intersects the Nugget Pond Horizon. West Pond will be tested using 2,000 metres of diamond drilling that will be drilled from shore.

East Pond Target (Exhibit D)- East Pond is characterized by an 800-metre-long strike coincident with a reduction in magnetic intensity associated with the Nugget Pond Horizon and cross cutting lineaments. The target also includes historic drilling, which intersected footwall mineralization analogous to the Nugget Pond Mine including 5.74 g/t gold over 0.5 metres (RCP-97-01), 10.30 g/t gold over 0.5 metres (RCP-97-02), 1.16 g/t gold over 3.4 metres (RCP-97-02), and 4.90 g/t gold over 0.5 metres (RCP-98-01). East Pond will be tested using up to1,500 metres of drilling.

Betts Cove Target (Exhibit A) - At the Betts Cove Mine disseminated to massive pyrite and chalcopyrite +/- gold mineralization is hosted at the contact between gabbroic sills and pillow basalts, particularly within a chlorite schist unit that may represent a sheared alteration zone; a similar setting to the Tilt Cove Mine 20 kilometres to the northeast along strike. Historic drilling at the Betts Cove Mine has returned significant gold intercepts that include: 4.48 g/t gold over 4.0 metres (from 52.0 to 56.0 metres, including 11.20 g/t gold over 1.1 metres in hole BC-89-01), 6.77 g/t gold over 5.0 metres (from 63.1 to 68.1 metres) in hole BC-89-02, 1.87 g/t gold over 13.0 metres (from 63.5 to 76.5 metres, including 7.50 g/t gold over 0.5 metres), and 8.82 g/t gold over 1.0 metre in hole NBC-96-01; and 4.59 g/t gold over 1.5 metres (from 63.5 to 65.0 metres) in hole NBC-96-02. A diamond drill program of 1,500 metres will test this target.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All "non-historic" samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL, for Au by fire assay (30 g) with an AA finish.

Composited assays from historical drill core are compiled from historic reports and data filed with the Department of Natural Resources, Newfoundland and Labrador. Sufficient work has not been completed by Anaconda geologists and QPs to verify the validity of these composited assays.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Anaconda Mining Inc.
Lynn Hammond
VP, Corporate Affairs
[phone]
[e-mail]

Exhibit A. A map showing the location of the Tilt Cove Project as well as high priority exploration targets referenced in the press release including the Growler Showing and the West and Red Cliff Pond Targets.

Exhibit B. A map showing the Scarp zone characterized by more than a kilometer of anomalous gold samples greater than 0.5 g/t gold, a strong deformation zone and associated with a past producing, gold rich base metal mine (the Tilt Cove Mine).

Exhibit C. A map showing the location the Nugget Pond Horizon in the Growler area and high priority exploration targets at the Growler showing and the Bett's Big Pond showing.

Exhibit D. A map showing the gold in soil anomalies down the trend of glacial movement southeast of the Nugget Pond Horizon at West Pond, East Pond and Red Cliff Pond area.

SOURCE: Anaconda Mining Inc.
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Anaconda Mining Further Consolidates and Expands the Tilt Cove Gold Project in Newfoundland and Provides Exploration Update

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TORONTO, ON / ACCESSWIRE / January 7, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce it has expanded and further consolidated the Tilt Cove Gold Project ("Tilt Cove") located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by quality roads from the Company's Pine Cove Mill and long-term tailings facility (Exhibit A). The expansion includes an additional 4,175 hectares of prospective mineral property, acquired via staking and an option agreement, that covers an additional 14 kilometres of favourable geology and structure in the region. The Company now maintains a 100% interest over 35 kilometres of highly prospective strike length including the Nugget Pond Horizon that hosted the Nugget Pond Mine.

Highlights of the expanded area of the Tilt Cove Project include:
•A highly prospective, road accessible mineral property with 17 significant gold and copper occurrences;
•190 of 1,416 Historic* rock grab and float samples** grading between 0.5 and 152.6 grams per tonne ("g/t") gold, including 79 rock grab and float samples grading between 5.0 and 152.6 g/t gold;
•Underlain by the Betts Cove Complex geology, which hosts the nearby, past producing, high-grade Nugget Pond Mine, as well as the Tilt Cove and Betts Cove Copper Mines;
•Adjacent to the Green Bay Fault, part of the Long-Range Fault System, a first order structure proximal and genetically linked to numerous gold deposits including the high-grade Nugget Pond and Hammerdown Mines (Exhibit B).

"We are excited to have completed such a significant expansion of the Tilt Cove Gold Project, which provides the Company with an additional 14 kilometres of continued strike length, in a highly-prospective mineral property, encompassing the same geological trend as the past producing, high-grade, Nugget Pond Mine which had an average recovered grade of 9.85 grams per tonne gold. The Tilt Cove Gold Project now includes a 35-kilometre strike extent of this highly prospective geological terrane, in addition to being adjacent to the Green Bay Fault, a crustal scale structure proximal and genetically linked to both the Nugget Pond and Hammerdown Mines. We continue to aggressively execute our exploration programs at Tilt Cove, including an initial ongoing 10,000 metre program, and we are well-funded to advance exploration work on our expanded land package and follow-up on any potential discovery."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Exploration Update

The ongoing 10,000 metre drill program continues to focus on several high-priority targets with drilling expected to continue into the winter. We are aggressively executing on our exploration and growth plans, having drilled 3,569 metres at the Scarp Zone and West Pond Targets, with plans to initiate drilling at the Betts Cove, Growler, West Pond and East Pond targets early in the first quarter of 2021. The results of drilling at the Scarp Zone and West Pond will be communicated once all assays have been received.

Expansion of the Tilt Cove Project

Anaconda has expanded the Tilt Cove Project, acquiring an additional 14 kilometres of strike extent of the Betts Cove Complex, host to the past producing, high-grade, Nugget Pond Gold Mine as well as the Tilt Cove and Betts Cove Copper Mines. The expanded area is road accessible, underlain by the Betts Cove Ophiolite, as found throughout Tilt Cove, and 17 significant gold and copper occurrences with 190 of 1,416 rock grab and float samples grading between 0.5 and 152.6 g/t gold, including 79 of 1,416 rock grab and float samples grading between 5.0 and 152.6 g/t gold. These occurrences have only been historically tested, primarily for base metals, by cursory diamond drilling comprising 1,701.1 metres in 16 drill holes between 1965 and 1997. None of the drilling completed in 1965 (7 holes; 1,023 metres) was tested for gold mineralization and many of the other subsequent holes stopped short of the targeted mineralization. Compilation and review of historic data will be completed during early 2021 in advance of a summer exploration program.

The expansion of the Tilt Cove Project was primarily achieved by staking of 2,375 hectares of mineral lands in a single licence. The Company also entered into an option agreement with local prospectors for the right to acquire a 100% undivided interest in a further 1,800 hectares in 13 licences. The option agreement provides for total cash payments of $145,000 and further share or cash payments (at the Company's election) of $85,000, both over a four-year term, as well as a 2% NSR, capped at $5 million. All amounts are in Canadian dollars.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

*Historical grab and float rock samples are compiled from historic reports and data filed with the Department of Natural Resources, Newfoundland and Labrador. Sufficient work has not been completed by Anaconda geologists and QPs to verify the validity of these individual assays.

** "rock grab and float samples" are selected samples and are not necessarily representative of mineralization that may be hosted on the property.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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Anaconda Mining Announces Q4 and Full Year 2020 Production Results, Achieves Record Metal Revenue of $41.5 Million

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TORONTO, ON / ACCESSWIRE / January 14, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce production results and certain financial information for the three months and year ended December 31, 2020. All dollar amounts are in Canadian Dollars. The Company expects to file its full audited annual financial statements and management discussion and analysis by March 2, 2021.

2020 Highlights
•Anaconda produced 18,268 ounces of gold in 2020 from its Point Rousse operation, achieving its annual guidance of 18,000 to 19,000 ounces, predominantly from Pine Cove Pit mine production, with the processing of ore from the Argyle Gold Mine commencing in late Q4 2020.
•Anaconda sold 17,918 ounces of gold in 2020, generating record metal revenue of $41.5 million at an average sales price1 of C$2,316 (US$1,728) per ounce of gold. As at December 31, the Company also had over 525 ounces in gold doré inventory, which was subsequently sold in January.
•The Pine Cove Mill achieved annual throughput of 459,085 tonnes during 2020, just short of its annual record throughput, representing a 14% increase over 2019, when the mill was impacted by unplanned maintenance.
•Mine operations moved 512,028 tonnes of ore during the year, including 103,557 tonnes of ore from Argyle in Q4 2020, at an average grade of 1.50 grams per tonne ("g/t") and at a strip ratio of 3.8 waste tonnes per ore tonne.
•The Pine Cove Pit has now transitioned to a fully permitted in-pit tailings facility, with over 10 years of capacity at current throughput rates.
•The Company announced the full exercise of share purchase warrants expiring on January 10, 2021, resulting in proceeds of $3,526,895 and the issuance of 7,837,544 common shares.
•As of December 31, 2020, the Company had a cash balance of $14.6 million and preliminary working capital1 of $13.8 million. The Company's current loan balance as of December 31, 2020 was $1.9 million and the non-current portion was $0.8 million.

1 Refer to Non-IFRS Measures Section below.

"While 2020 was an unusual year in so many ways, with all the uncertainty brought with the global pandemic, it ended up being a very strong year for Anaconda Mining and its operations at Point Rousse. Firstly, and above all, I would like to thank all our employees for their hard work and commitment under very challenging circumstances, ensuring the sustainability of the operation while maintaining the highest level of commitment to the health and safety of all members of the community in which we operate. The Company produced 18,268 ounces of gold to meet its annual guidance and achieved record metal revenue of $41.5 million, with excellent performance from the mine and mill operations. We are excited with the commencement of ore processing from our newest mine at Point Rousse, the Argyle Gold Mine, which will provide most of the mill throughput in 2021 as we guide to produce between 18,000 and 19,000 ounces of gold in the upcoming year. With a strong treasury and continued free cash flow generation we begin the year in a robust financial position and with a clear focus on growth."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

2021 Guidance
Anaconda is projecting to produce between 18,000 and 19,000 ounces of gold in 2021. Mill feed in 2021 will be predominantly from mining at the Argyle Gold Mine, with supplemental ore feed from Pine Cove and marginal stockpiles, although the Company continues to investigate opportunities to defer marginal ore feed. Operating cash costs per ounce1 for the full year are expected to be between $1,425 and $1,475 per ounce of gold sold (US$1,100 - US$1,145 at an approximate exchange rate of 0.775), reflecting the relatively lower grade profile of Argyle in the earlier part of the mine plan, the impact of processing lower grade marginal ore, and increased trucking costs to the Pine Cove Mill from Argyle. Mine grade will increase significantly towards the end of 2021 and into 2022 at Argyle which, along with a decrease in the stripping ratio, will lead to a marked decrease in operating cash costs per ounce sold. Furthermore, any opportunity to displace marginal ore will positively impact operating costs on a per ounce sold basis.

The Company expects to incur $6,600,000 of sustaining capital expenditures for the mine and mill operations in 2021, which includes approximately $3,800,000 of mine development for pushbacks at the Argyle Gold Mine, which will also support ongoing mining in 2022. Looking further ahead at Point Rousse, the Company continues to infill drill the Stog'er Tight extension and advance baseline permitting activities, given its strong potential to extend the life of mine of the Point Rousse operation.

In addition, milestones and catalysts for growth in 2021 include:
•Ongoing production and free cash flow generation from Argyle throughout 2021.
•Infill drilling at Stog'er Tight deposit to complete an updated Mineral Resource.
•Final drill results from the Goldboro Gold Project ("Goldboro") infill drill program in Q1 2021.
•An updated Mineral Resource for the Goldboro Gold Project in Q1 2021.
•Ongoing initial 10,000 metre drill program at the Tilt Cove Gold Project in Q1 and Q2 2021.
•Drill Program at the Lower Seal Harbour Property in Nova Scotia, proximal to Goldboro.
•Completion of the Goldboro Feasibility Study in Q4 2021.

Operating Statistics for the Three Months and Year Ended December 31, 2020
During the fourth quarter of 2019, the Company processed a bulk sample for Goldboro (the "Bulk Sample") at its Pine Cove Mill (see press release dated January 16, 2020). Fourth quarter and annual 2019 mill statistics are presented both including the Bulk Sample, and on a Point Rousse stand-alone basis.


Three months ended December 31, 2020

Three months ended December 31, 2019

Year ended December 31, 2020

Year ended December 31, 2019


Mine Statistics


Ore production (tonnes)

110,455

123,302

512,028

413,139


Waste production (tonnes)

453,859

518,698

1,964,689

1,771,408


Total material moved (tonnes)

564,314

642,000

2,476,717

2,184,547


Waste: Ore ratio

4.1

4.2

3.8

4.3



Mill Statistics (including Bulk Sample in 2019)


Availability (%)

91.5

97.1

96.3

89.6


Dry tonnes processed

107,257

110,474

459,085

401,499


Tonnes per day ("tpd")

1,274

1,236

1,302

1,228


Grade (grams per tonne)

1.39

1.49

1.42

1.52


Recovery (%)

86.8

83.1

87.4

82.3


Gold Ounces Recovered

4,171

4,411

18,268

16,181


Gold Ounces Sold

3,970

4,209

17,918

17,265


Excluding the operating results from the Bulk Sample, the Pine Cove Mill Statistics specifically for production from the Point Rousse operation are as follows:


Dry tonnes processed

107,257

100,689

459,085

391,714


Tonnes per day ("tpd")

1,274

1,318

1,302

1,248


Grade (grams per tonne)

1.39

1.27

1.42

1.46


Recovery (%)

86.8

84.0

87.4

82.8


Gold Ounces Produced

4,171

3,441

18,268

15,211


Gold Ounces Sold

3,970

3,306

17,918

16,362


Operations Overview for the Year Ended December 31, 2020
Anaconda sold 17,918 ounces of gold in 2020 to generate record metal revenue of $41.5 million at an average realized gold price1 of C$2,316 (US$1,728) per ounce, representing a 41% increase in metal revenue compared to 2019 due to a combination of significantly higher gold prices and higher gold production. During the fourth quarter, the Company sold 3,970 ounces of gold from production from its Point Rousse operations, generating metal revenue of $10.0 million at an average realized gold price1 of C$2,503 per ounce (US$1,921).

The Point Rousse operation produced 18,268 ounces of gold during 2020, achieving annual guidance of 18,000 to 19,000 ounces, and representing a 13% increase over 2019 as a result of higher throughput and stronger recoveries. Production was predominantly from the Pine Cove Pit, where mining ceased in early Q4 2020 and mill production was maintained from the established stockpile of 100,000 tonnes. In 2021, production will be focused exclusively at Argyle, with mill throughput supplemented with marginal ore from the Pine Cove Pit.

Point Rousse Mine Operations - During the fourth quarter, the mine operation produced 110,455 tonnes of ore (of which 103,557 tonnes were from Argyle), a 10% decrease from Q4 2019 when mining was focused exclusively in the Pine Cove Pit. For 2020, the mine operation produced 512,028 tonnes of ore, a significant increase over 2019 when the first half of the year was focused on the lower tonnage profile Stog'er Tight Mine. The strip ratio for 2020 was 3.8 waste tonnes to ore tonnes, a decrease from 4.3 in 2019, as the mine operation completed mining in the Pine Cove Pit throughout 2020 and the tonnes of waste moved decreased accordingly. The strip ratio of 4.1 waste tonnes to ore tonnes in Q4 2020 reflects the impact of the commencement of development at Argyle.

As at December 31, 2020, the mine operation had stockpiled over 102,300 tonnes of ore, which included approximately 72,000 tonnes from Argyle at an average grade of 1.79 g/t. Going forward into 2021, the mine operations will be exclusively focused on production from Argyle, which together with existing stockpiles will contribute approximately 70% of mill throughput in the upcoming year, with Pine Cove and marginal stockpiles providing the balance.

Point Rousse Mill Operations - The Pine Cove Mill processing facility milled 107,257 tonnes during the fourth quarter of 2020, a 3% decrease compared to Q4 2019, the result of lower mill availability due to a planned shutdown for a mill liner change. For the 2020 year, the mill processed 459,085 tonnes of ore, an increase of 14% compared to 2019 due to strong mill availability of 96.3% in the most recent year compared to only 89.6% in 2019. The Pine Cove Mill has returned to consistent and sustainable operations since the challenges encountered in the early half of 2019, when unplanned maintenance of the regrind mill impacted mill availability, which in turn impacted throughput and recovery. Anaconda took the opportunity to accelerate other planned maintenance programs, invest in critical spares, and bolster preventative maintenance programs, the result of which can be seen with the strong performance of the mill in 2020.

Average grade during the fourth quarter was 1.39 g/t, a 7% decrease compared to Q4 2019 due to the impact of the Goldboro Bulk Sample in the comparative period, however a 9% increase when compared to ore milled only from the Point Rousse operation. The fourth quarter of 2020 reflected the impact of processing of 30,324 tonnes of ore from the relatively higher-grade Argyle deposit. Average grade for 2020 was 1.42 g/t, down slightly from 1.46 g/t in 2019 when comparing only to Point Rousse results, as ore feed in the first half of the prior year was mainly from the higher grade Stog'er Tight Mine. The mill achieved an average recovery rate of 86.8% in Q4 2020 and 87.4% for the 2020 year, both representing strong increases over the comparative periods of 2019, further reflecting the strong improvements that have been implemented at the mill operation.

Qualified Person
Kevin Bullock, P. Eng., President and CEO, Anaconda Mining Inc., is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

ABOUT ANACONDA
Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

NON-IFRS MEASURES
Anaconda has included certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Operating Cash Costs per Ounce of Gold - Anaconda calculates operating cash costs per ounce by dividing operating expenses per the consolidated statement of operations, net of silver sales by-product revenue, by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however excludes depletion and depreciation and rehabilitation costs.

Average Realized Gold Price per Ounce Sold - In the gold mining industry, average realized gold price per ounce sold is a common performance measure that does not have any standardized meaning. The most directly comparable measure prepared in accordance with IFRS is gold revenue. The measure is intended to assist readers in evaluating the revenue received in a period from each ounce of gold sold.

Working Capital - Working capital is a common measure of near-term liquidity and is calculated by deducting current liabilities from current assets.

FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:
Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

SOURCE: Anaconda Mining Inc.


View source version on accesswire.com:
https://www.accesswire.com/624246/Anaconda-Mining-Announces-…

Quelle: https://www.anacondamining.com/prviewer/release_only/id/4591…

[IQ4U]

Anaconda Mining Reports Final Results from Near Surface Goldboro Drill Program, Including 1.86 g/t Gold Over 14.5 Metres, 2.08 g/t Gold Over 9.0 Metres and 1.37 g/t Gold Over 21.5 Metres

--------------------------------------------------------------------------------

TORONTO, ON / ACCESSWIRE / January 19, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce final drill results from its completed infill drill program ("Drill Program") at its 100% owned Goldboro Gold Project in Nova Scotia, Canada ("Goldboro" or the "Project"). The Drill Program was comprised of 17,941.7 metres of diamond drilling and was designed to convert priority Inferred Mineral Resources to Measured and Indicated Mineral Resources of the Goldboro Deposit as part of a mineral resource update anticipated for Q1 of 2021 and as part of the ongoing Feasibility Study.

Results from the most recent drilling, comprised of 2,148.2 metres from fifteen diamond drill holes, all reflect near surface targets (>175 vertical metres) at both the West Goldbrook Gold System ("WG Gold System") and the Boston Richardson Gold System ("BR Gold System") (Exhibit A). The drilling was focused on shallow levels of the deposit to further evaluate the opportunity for an expanded open-pit mining scenario, as identified through the ongoing Feasibility Study. The results demonstrate continuity of mineralization within the infill drill areas at both the WG and BR gold systems in areas explored. A total of eight (8) visible gold occurrences were observed in these drill holes.

Selected composited highlights (core length) from the Drill Program include:
•1.86 grams per tonne ("g/t") gold over 14.5 metres (55.5 to 70.0 metres) and 2.78 g/t gold over 4.5 metres (44.0 to 48.5 metres) and 1.31 g/t gold over 5.5 metres (19.0 to 24.5 metres) in hole BR-20-221;
•1.37 g/t gold over 21.5 metres (72.0 to 93.5 metres) including 26.80 g/t gold over 0.5 metres in hole BR-20-219;
•2.08 g/t gold over 9.0 metres (130.0 to 139.0 metres) including 12.20 g/t gold over 1.0 metre in hole BR-20-216;
•8.56 g/t gold over 2.0 metres (39.0 to 41.0 metres) including 16.70 g/t gold over 1.0 metre in hole BR-20-224; and
•2.66 g/t gold over 5.6 metres (121.2to 126.8 metres) including 9.72 g/t gold over 0.8 metres in hole BR-20-210.

" Anaconda's extensive infill drill program at its Goldboro Gold Project was very successful in infilling areas of priority inferred mineralization at shallow levels of the deposit. Importantly this was achieved while maintaining strong safety protocols given the ongoing impact of the global pandemic. Based on the positive drill results from this program, we are confident as we progress towards the announcement of a mineral resource update in Q1 2021, which, together with advanced metallurgical work, will allow us to complete detailed pit design to support a potential expanded surface mining operation using conventional open-pit mining methods. In addition, as part of the ongoing mineral resource evaluation, we have recognized additional opportunity, within the central portions of the deposit, to convert further Inferred Mineral Resources to indicated and measured categories, potentially further expanding surface mining potential at Goldboro. We plan further drilling in the near-term to unlock the value recognized in these specific areas of the deposit once we have completed the full evaluation of the results from our recent program."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

To date, a total of 17,941.7 metres in 121 drill holes (BR-20-105 to BR-20-224) have been completed under the Drill Program, with assays from drill holes BR-20-105 to BR-20-215 previously reported in news releases dated September 3, 2020; October 5, 2020; November 11, 2020; November 19, 2020; and January 5, 2020. This release outlines the results for 2,148.2 metres in fifteen diamond drill holes, including BR-20-202, 207, 210-211, 213 and from BR-20-216 to BR-20-224 including BR-20-222a, which was abandoned at 46 metres and redrilled in BR-20-222. Drill holes BR-20-133, -157, -163, -167, -169 and -171, totaling 639 metres, were drilled for metallurgical purposes and any assay data for these holes will be reported in the future as results become available.

The Drill Program is funded using existing flow through funds but has also benefited from a grant received from the Government of Nova Scotia through a Mineral Resources Development Fund, shared funding exploration grant MRDF-2020-SF-035.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

Table 1. Selected Composite Highlights Within This News Release From The Drill Program.


Hole ID

From (m)

To (m)

Interval (m)*

Gold (g/t)

Visible Gold (VG)


BR-20-202

119

119.5

0.5

1.51


BR-20-207

159.5

160

0.5

1.43


and

200.7

203

2.3

2.96


including

200.7

201.2

0.5

11.8


and

230

231.5

1.5

1.53


and

235.8

236.3

0.5

14.5

VG


and

270

272.5

2.5

1.42

VG


including

270

270.5

0.5

4.55

VG


and

294

295

1.0

3.81


and

298

298.5

0.5

2.12


and

300.5

301.5

1.0

1.88


and

309

309.5

0.5

4.99


BR-20-210

52

52.7

0.7

0.51


and

74.4

74.9

0.5

20.3


and

107

110.2

3.2

0.67


and

121.2

126.8

5.6

2.66


including

125

125.8

0.8

9.72


and

126.3

126.8

0.5

6.66


and

216.4

217.2

0.8

3.54


BR-20-211

105.8

106.8

1.0

2.62


and

157

157.5

0.5

5.26


and

175

176

1.0

0.84


BR-20-213

137.5

138

0.5

1.19


and

173.5

174.5

1.0

0.68


and

184

185

1.0

0.54


and

224.7

225.2

0.5

0.64


and

238.8

239.8

1.0

1.13


and

244.7

245.5

0.8

2.66


and

247.5

248.5

1.0

0.83


and

259.5

260

0.5

1.93


and

263

263.7

0.7

0.66


and

272.9

273.5

0.6

1.57


BR-20-216

91

92

1.0

0.68


and

104

105

1.0

4.51


and

123

123.5

0.5

0.89

VG


and

130

139

9.0

2.08

VG


including

133.5

134.5

1.0

12.2

VG


and

144.5

145

0.5

3.91


BR-20-217

84

84.5

0.5

17.5

VG


and

98

99

1.0

1.61


and

110

111

1.0

2.03


and

119

122

3.0

0.9


and

126

127

1.0

0.63


and

132

133

1.0

0.69


BR-20-218

67

67.5

0.5

0.8


and

88.7

89.2

0.5

5.7


and

94

95

1.0

0.88


and

98.7

99.2

0.5

1.47

VG


and

108

111.5

3.5

1.66


and

126

128

2.0

1.19


BR-20-219

15.5

16.5

1.0

1.46


and

21

22

1.0

0.72


and

34

35.5

1.5

0.89


and

59.5

61.5

2.0

2.13


and

68.5

69.5

1.0

0.79


and

72

93.5

21.5

1.37

VG


including

87

87.5

0.5

26.8

VG


BR-20-220**

43

44

1.0

0.94


BR-20-221

19

24.5

5.5

1.31


including

20.5

21

0.5

9.16


and

44

48.5

4.5

2.78


and

51.5

52

0.5

1.62


and

55.5

70

14.5

1.86


including

61

61.5

0.5

6.08


and

91.5

93.5

2.0

0.63


and

97

100.5

3.5

1.78


and

120

121

1.0

1.65


BR-20-223**

13

17

4.0

2.68


and

24

29

5.0

1.01


and

38

41

3.0

1.22


and

45

55

10.0

2.74


including

51

52

1.0

14.7


and

63

66

3.0

1.1


BR-20-224**

21.6

25

3.4

1.01


and

33

34

1.0

1.23


and

39

41

2.0

8.56


including

40

41

1.0

16.7


and

59

59.5

0.5

1.18


and

71

73

2.0

0.59


*Intervals are reported as core length only. Please refer to notes below regarding true width.

** Eleven of the drill holes (BR-20-202, -207, -210, -213, and -219 to 224) were drilled off section resulting in broader drill core intercepts that over emphasize apparent mineralized width. The true widths of these drill intercepts range between 70 and 100% except for holes BR-20-220, -223 and -224 which have true widths estimated at 60%, 30% and 50% of core length, respectively. These holes were drilled off section due to issues with access due to location of wetlands.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL, for Au by fire assay (30 g) with an AA finish.

All assays in this press release are reported as fire assays only. For samples analyzing greater than 0.5 g/t Au via 30 g fire assay, these samples will be re-analyzed at Eastern Analytical Ltd. via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Total pulp metallics assays for drillholes sited within this press release will be updated in a future news release.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going Feasibility Study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]



Exhibit A: A map showing the location of drill holes and selected composited highlights referred to in this news release.

SOURCE: Anaconda Mining Inc.


View source version on accesswire.com:
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Quelle: https://www.anacondamining.com/prviewer/release_only/id/4595…

[IQ4U]

Anaconda Mining Reports Final Results from Near Surface Goldboro Drill Program, Including 1.86 g/t Gold Over 14.5 Metres, 2.08 g/t Gold Over 9.0 Metres and 1.37 g/t Gold Over 21.5 Metres

--------------------------------------------------------------------------------

TORONTO, ON / ACCESSWIRE / January 19, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce final drill results from its completed infill drill program ("Drill Program") at its 100% owned Goldboro Gold Project in Nova Scotia, Canada ("Goldboro" or the "Project"). The Drill Program was comprised of 17,941.7 metres of diamond drilling and was designed to convert priority Inferred Mineral Resources to Measured and Indicated Mineral Resources of the Goldboro Deposit as part of a mineral resource update anticipated for Q1 of 2021 and as part of the ongoing Feasibility Study.

Results from the most recent drilling, comprised of 2,148.2 metres from fifteen diamond drill holes, all reflect near surface targets (>175 vertical metres) at both the West Goldbrook Gold System ("WG Gold System") and the Boston Richardson Gold System ("BR Gold System") (Exhibit A). The drilling was focused on shallow levels of the deposit to further evaluate the opportunity for an expanded open-pit mining scenario, as identified through the ongoing Feasibility Study. The results demonstrate continuity of mineralization within the infill drill areas at both the WG and BR gold systems in areas explored. A total of eight (8) visible gold occurrences were observed in these drill holes.

Selected composited highlights (core length) from the Drill Program include:
•1.86 grams per tonne ("g/t") gold over 14.5 metres (55.5 to 70.0 metres) and 2.78 g/t gold over 4.5 metres (44.0 to 48.5 metres) and 1.31 g/t gold over 5.5 metres (19.0 to 24.5 metres) in hole BR-20-221;
•1.37 g/t gold over 21.5 metres (72.0 to 93.5 metres) including 26.80 g/t gold over 0.5 metres in hole BR-20-219;
•2.08 g/t gold over 9.0 metres (130.0 to 139.0 metres) including 12.20 g/t gold over 1.0 metre in hole BR-20-216;
•8.56 g/t gold over 2.0 metres (39.0 to 41.0 metres) including 16.70 g/t gold over 1.0 metre in hole BR-20-224; and
•2.66 g/t gold over 5.6 metres (121.2to 126.8 metres) including 9.72 g/t gold over 0.8 metres in hole BR-20-210.

" Anaconda's extensive infill drill program at its Goldboro Gold Project was very successful in infilling areas of priority inferred mineralization at shallow levels of the deposit. Importantly this was achieved while maintaining strong safety protocols given the ongoing impact of the global pandemic. Based on the positive drill results from this program, we are confident as we progress towards the announcement of a mineral resource update in Q1 2021, which, together with advanced metallurgical work, will allow us to complete detailed pit design to support a potential expanded surface mining operation using conventional open-pit mining methods. In addition, as part of the ongoing mineral resource evaluation, we have recognized additional opportunity, within the central portions of the deposit, to convert further Inferred Mineral Resources to indicated and measured categories, potentially further expanding surface mining potential at Goldboro. We plan further drilling in the near-term to unlock the value recognized in these specific areas of the deposit once we have completed the full evaluation of the results from our recent program."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

To date, a total of 17,941.7 metres in 121 drill holes (BR-20-105 to BR-20-224) have been completed under the Drill Program, with assays from drill holes BR-20-105 to BR-20-215 previously reported in news releases dated September 3, 2020; October 5, 2020; November 11, 2020; November 19, 2020; and January 5, 2020. This release outlines the results for 2,148.2 metres in fifteen diamond drill holes, including BR-20-202, 207, 210-211, 213 and from BR-20-216 to BR-20-224 including BR-20-222a, which was abandoned at 46 metres and redrilled in BR-20-222. Drill holes BR-20-133, -157, -163, -167, -169 and -171, totaling 639 metres, were drilled for metallurgical purposes and any assay data for these holes will be reported in the future as results become available.

The Drill Program is funded using existing flow through funds but has also benefited from a grant received from the Government of Nova Scotia through a Mineral Resources Development Fund, shared funding exploration grant MRDF-2020-SF-035.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

Table 1. Selected Composite Highlights Within This News Release From The Drill Program.


Hole ID

From (m)

To (m)

Interval (m)*

Gold (g/t)

Visible Gold (VG)


BR-20-202

119

119.5

0.5

1.51


BR-20-207

159.5

160

0.5

1.43


and

200.7

203

2.3

2.96


including

200.7

201.2

0.5

11.8


and

230

231.5

1.5

1.53


and

235.8

236.3

0.5

14.5

VG


and

270

272.5

2.5

1.42

VG


including

270

270.5

0.5

4.55

VG


and

294

295

1.0

3.81


and

298

298.5

0.5

2.12


and

300.5

301.5

1.0

1.88


and

309

309.5

0.5

4.99


BR-20-210

52

52.7

0.7

0.51


and

74.4

74.9

0.5

20.3


and

107

110.2

3.2

0.67


and

121.2

126.8

5.6

2.66


including

125

125.8

0.8

9.72


and

126.3

126.8

0.5

6.66


and

216.4

217.2

0.8

3.54


BR-20-211

105.8

106.8

1.0

2.62


and

157

157.5

0.5

5.26


and

175

176

1.0

0.84


BR-20-213

137.5

138

0.5

1.19


and

173.5

174.5

1.0

0.68


and

184

185

1.0

0.54


and

224.7

225.2

0.5

0.64


and

238.8

239.8

1.0

1.13


and

244.7

245.5

0.8

2.66


and

247.5

248.5

1.0

0.83


and

259.5

260

0.5

1.93


and

263

263.7

0.7

0.66


and

272.9

273.5

0.6

1.57


BR-20-216

91

92

1.0

0.68


and

104

105

1.0

4.51


and

123

123.5

0.5

0.89

VG


and

130

139

9.0

2.08

VG


including

133.5

134.5

1.0

12.2

VG


and

144.5

145

0.5

3.91


BR-20-217

84

84.5

0.5

17.5

VG


and

98

99

1.0

1.61


and

110

111

1.0

2.03


and

119

122

3.0

0.9


and

126

127

1.0

0.63


and

132

133

1.0

0.69


BR-20-218

67

67.5

0.5

0.8


and

88.7

89.2

0.5

5.7


and

94

95

1.0

0.88


and

98.7

99.2

0.5

1.47

VG


and

108

111.5

3.5

1.66


and

126

128

2.0

1.19


BR-20-219

15.5

16.5

1.0

1.46


and

21

22

1.0

0.72


and

34

35.5

1.5

0.89


and

59.5

61.5

2.0

2.13


and

68.5

69.5

1.0

0.79


and

72

93.5

21.5

1.37

VG


including

87

87.5

0.5

26.8

VG


BR-20-220**

43

44

1.0

0.94


BR-20-221

19

24.5

5.5

1.31


including

20.5

21

0.5

9.16


and

44

48.5

4.5

2.78


and

51.5

52

0.5

1.62


and

55.5

70

14.5

1.86


including

61

61.5

0.5

6.08


and

91.5

93.5

2.0

0.63


and

97

100.5

3.5

1.78


and

120

121

1.0

1.65


BR-20-223**

13

17

4.0

2.68


and

24

29

5.0

1.01


and

38

41

3.0

1.22


and

45

55

10.0

2.74


including

51

52

1.0

14.7


and

63

66

3.0

1.1


BR-20-224**

21.6

25

3.4

1.01


and

33

34

1.0

1.23


and

39

41

2.0

8.56


including

40

41

1.0

16.7


and

59

59.5

0.5

1.18


and

71

73

2.0

0.59


*Intervals are reported as core length only. Please refer to notes below regarding true width.

** Eleven of the drill holes (BR-20-202, -207, -210, -213, and -219 to 224) were drilled off section resulting in broader drill core intercepts that over emphasize apparent mineralized width. The true widths of these drill intercepts range between 70 and 100% except for holes BR-20-220, -223 and -224 which have true widths estimated at 60%, 30% and 50% of core length, respectively. These holes were drilled off section due to issues with access due to location of wetlands.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL, for Au by fire assay (30 g) with an AA finish.

All assays in this press release are reported as fire assays only. For samples analyzing greater than 0.5 g/t Au via 30 g fire assay, these samples will be re-analyzed at Eastern Analytical Ltd. via total pulp metallics. For the total pulp metallics analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150 mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Total pulp metallics assays for drillholes sited within this press release will be updated in a future news release.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going Feasibility Study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]



Exhibit A: A map showing the location of drill holes and selected composited highlights referred to in this news release.

SOURCE: Anaconda Mining Inc.


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[IQ4U]

Anaconda Mining Intersects a VMS System at the Tilt Cove Gold Project

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TORONTO, ON / ACCESSWIRE / January 28, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce results from the initial stages of an ongoing 10,000 metre exploration drilling program (the "Drill Program") at its Tilt Cove Gold Project ("Tilt Cove"), located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by road from the Company's Pine Cove Mill and long-term tailings facility.

Results have been received for ten (10) holes totaling 1,641 metres from the Scarp Zone targeting surface mineralization and associated geophysical anomalies over approximately one kilometre of strike length (Exhibit A). Drilling consistently encountered strongly altered and mineralized rocks that represent the volcanogenic massive sulphide alteration system ("VMS System") believed to be part of the same geological system that hosts the nearby, past producing Tilt Cove Mine, which mined 8.16 million tonnes of copper ore at grades ranging between 1.25 and 12.0% copper as well as producing 42,425 ounces of gold. The Tilt Cove Mine was active from 1864 to 1917 and again in 1957 to 1967. The extensive VMS System is locally gold-enriched, consistently hosts disseminated, stringer and semi-massive pyrite, chalcopyrite and sphalerite, including an intersection of semi-massive chalcopyrite in hole SZ-20-04.

Highlights of the drilling include intersections of both gold and copper including:
•4.41% copper over 2.2 metres (64.3 to 66.5 metres) in diamond drill hole SZ-20-04;
•1.79% copper over 3.0 metres (37.0 to 40.0 metres) in diamond drill hole SZ-20-01; and
•1.36 grams per tonne ("g/t") gold over 3.0 metres (72.0 to 75.0 metres) and 0.93 g/t gold over 2.7 metres (25.5 to 28.2 metres) in diamond drill hole SZ-20-02.

"Initial drill testing of the Scarp Zone has outlined a kilometre long strike extent of a VMS System including high-grade copper mineralization and elevated levels of gold, proximal to the past-producing Tilt Cove Mine. The results highlight the prospectivity of the area for base metals through the discovery of high-grade copper mineralization in this previously untested area. Our focus remains on the discovery of a high-grade gold deposit similar to the past producing Nugget Pond Mine, but we are pleased with the discovery of base metal mineralization in addition to precious metals, demonstrating the strong potential of the area. Further drilling is anticipated in this area in 2021, targeting other gold prospects both along strike and associated with the VMS alteration system. We continue to execute on the ongoing 10,000 metre Tilt Cove drill program, with drilling completed at West Pond and with two drills currently turning at the Betts Cove and Growler prospects. Results of the drilling will be released upon receipt and evaluation of related assays."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Scarp Zone Drilling

The Scarp Zone is characterized by more than a kilometre of exposed Nugget Pond Horizon coincident with a similar strike length consisting of 107 gold bearing samples over 0.5 g/t gold. The area is also characterized by a strong deformation zone adjacent to the Nugget Pond Horizon which dips shallowly northwest beneath younger Silurian rocks. As part of a larger, ongoing 10,000 metre Drill Program at Tilt Cove, the Scarp Zone was tested with 1,641 metres in 10 holes (SZ-20-01 to 10) over a 1.0 kilometre strike extent, following up on surface gold mineralization indicated by coincident rock grab and float samples as well as IP chargeability anomalies.

Table of Selected Composited Gold Assays


Hole ID

From (m)

To (m)

Interval (m)

Gold (g/t)


SZ-20-01

65.0

67.6

2.6

0.53


SZ-20-02

25.5

28.2

2.7

0.93


and

72.0

75.0

3.0

1.36


and

88.5

92.0

3.5

0.72


Holes SZ-20-03 to SZ-20-10 did not contain significant composited Gold assays

Table of Selected Composited Copper Grades


Hole ID

From (m)

To (m)

Interval (m)

Copper (%)


SZ-20-04

64.3

66.5

2.2

4.41


SZ-20-01

37.0

40.0

3.0

1.79


SZ-20-02

26.0

27.0

1.0

1.29


Hole SZ-20-03 and holes SZ-20-05 to SZ-20-10 did not contain significant composited Copper grades

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

Mineralized intervals referred to in this press release are reported as drill intersections and are apparent widths only. True widths reported in this press release are estimated to be approximately 80-100% of drill intervals.

All samples and the resultant composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core samples were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Copper values were determined by Inductively Coupled Plasma (ICP) analysis along with 33 other elements at Eastern. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

Note: "rock grab and float samples" are selected samples and are not necessarily representative of mineralization that may be hosted on the property.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going Feasibility Study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]



Exhibit A. A map showing the Scarp zone characterized by more than a kilometer of anomalous gold samples greater than 0.5 g/t gold, within a VMS system, as well as the location of drill holes referenced in this press release.

SOURCE: Anaconda Mining Inc.


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Anaconda Mining Named to 2021 OTCQX Best 50

--------------------------------------------------------------------------------

TORONTO, ON / ACCESSWIRE / January 28, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce it has been named to the 2021 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2021 OTCQX Best 50 were ranked based on their performance in 2020.

"Anaconda Mining is very pleased to be named in the OTCQX® Best 50 and would like to thank our shareholders for their ongoing support. We are a unique junior gold mining company with a growing development project at Goldboro in Nova Scotia and an exciting exploration project at Tilt Cove in Newfoundland, in addition to generating ongoing free cash flow from our Point Rousse operations. We are excited to build on our successes from 2020, and we begin the year with a strong treasury to execute our aggressive growth strategy."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

For the complete 2021 OTCQX Best 50 ranking, visit: https://www.otcmarkets.com/files/2021_OTCQX_Best_50.pdf

ABOUT ANACONDA
Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

SOURCE: Anaconda Mining Inc.


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NEWS vom 04.02.2021:

Anaconda Mining Intersects 6.50 g/t Over 16.0 Metres and 2.84 g/t Gold Over 8.0 Metres at Stog'er Tight and Discovers New Zone of Mineralization

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TORONTO, ON / ACCESSWIRE / February 4, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce initial results from its on going 2,500 metre infill drill program at Stog'er Tight (the "Infill Drill Program") as well as the final results from the original exploration drill program, which commenced in August of 2020. Both programs took place near, or along strike from, the Stog'er Tight Mine and Deposit, located approximately three (3) kilometres east of the Company's operating Pine Cove Mill and Tailings Facility in Newfoundland (Exhibit A).

The exploration drill results comprise a remaining 660 metres of drilling (BN-20-362 to 367) near Camp Pond at Stog'er Tight (Exhibit A). Exploration drill results included a 12.8 metre intersection of gold mineralization of 0.93 g/t just ten metres below surface. This is significant as it was discovered 50 metres south of mineralization that was previously thought to terminate towards the south (Exhibit A). Importantly, the drilling indicates that this new mineralized zone is very shallow and continues southward by up to 250 metres at a shallow dip, immediately below surface.

The results to date from the Infill Drill Program comprise 1,794.6 metres (BR-20-368 to 392), which continue to intersect mineralization with similar characteristics and tenor to those previously drilled in the area. The results are being used to support an updated in-house resource model and pit shells and are indicating the strong potential to extend the mine life of the Point Rousse operation.

Highlights of the Drill Program include:
•6.50 grams per tonne ("g/t") gold over 16.0 metres (51.1 to 67.1 metres), including 16.70 g/t gold over 1.0 metres in diamond drill hole BN-20-370;
•2.84 g/t gold over 8.0 metres (44.0 to 52.0 metres); including 14.10 g/t gold over 1.0 metres in diamond drill hole BN-20-379;
•2.00 g/t gold over 10.0 metres (78.0 to 88.0 metres) in diamond drill hole BN-20-380;
•3.36 g/t gold over 4.0 metres (69.0 to 73.0 metres) in diamond drill hole BN-20-378;
•0.93 g/t gold over 12.8 metres (10.2 to 23.0 metres) in diamond drill hole BN-20-367; and
•1.46 g/t gold over 4.9 metres (49.0 to 53.9 metres) in diamond drill hole BN-20-389.

Selected intersections from the Drill Program at Stog'er Tight are shown in Table 1 below.

"We are very pleased with the results from our earlier exploration drilling at Stog'er Tight and the initial results from a related infill drill program, which continue to demonstrate the potential to extend the life of mine of the Point Rousse operation. Infill drilling continues to outline and confirm a continuous gold system near Camp Pond and exploration drilling has identified a new zone of near-surface mineralization at Stog'er Tight. This most recent discovery has resulted in a new geological interpretation that the mineralized host rocks are near horizontal in this area and that the potential for gold mineralization extends southward by at least 250 metres, just below surface. To test this concept and the continuity of near surface mineralization, we have initiated a further 1,000 metres drill program in this new area of interest. The results of the infill and exploration programs, as well as ongoing drilling, will be incorporated into our in-house mineral resource as we begin to plan for a potential development scenario at Stog'er Tight.

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

The results of the Infill Drill Program indicate that a zone of gold mineralization extends at least 720 metres west and south the Stog'er Tight Mine and represents the strike extension of the original Stog'er Tight Deposit. Mineralization now extends over a total strike length of approximately 1,250 metres. Gold mineralization is hosted within a shallowly northwest dipping to locally sub-horizontal gabbro sill and has been tested to a vertical depth of 115 metres. The Company will continue to update in-house, non-National Instrument 43-101 ("NI43-101") compliant, resource estimate combining recent results with the previously announced NI43-101 compliant Mineral Resource Estimate for Stog'er Tight* announced on August 4th, 2020 and available on the Company's SEDAR profile.

The NI 43-101 compliant Mineral Resource Estimate for Stog'er Tight* includes an open pit constrained Indicated Mineral Resource of 102,000 tonnes at a grade of 2.39 g/t gold and an Inferred Mineral Resource of 134,000 tonnes at a grade of 3.06 g/t gold (0.5 g/t gold cut off for Open Pit Constrained) as well as an out-of-pit Mineral Resource Estimate including an Indicated Mineral Resource of 14,000 tonnes at a grade of 4.27 g/t gold and an Inferred Mineral Resource of 210,000 tonnes at a grade of 3.62 g/t gold (2.0 g/t gold cut off for out-of-pit resource). Creation of an in-house resource estimate and associated preliminary open pit design will provide internal guidance on how much of the mineralization could be potentially mined within an open pit and will help guide on-going infill drilling.

To facilitate the potential development of the deposit west of the Stog'er Tight Mine, preliminary environmental studies have been initiated at Camp Pond, which would likely be impacted by development activity. Fox Pond, located east of Camp Pond, was similarly underlain by the Stog'er Tight Deposit which was successfully mined in 2018 and 2019 by partial dewatering of the pond under appropriate Provincial and Federal Government authorizations.

Table 1: Highlighted composited assays from diamond drill holes BN-20-362 to BN-20-392


Hole ID1

From (m)

To (m)

Length (m)2

Gold (g/t)


BN-20-363

41.9

43.5

1.6

1.09


and

49.9

50.6

0.7

2.94


BN-20-365

6.0

7.0

1.0

1.84


BN-20-367

10.2

23.0

12.8

0.93


BN-20-370

44.1

45.1

1.0

1.58


and

51.1

67.1

16.0

6.50


including

65.1

66.1

1.0

16.70


BN-20-373

13.5

14.1

0.6

1.14


BN-20-374

42.0

43.0

1.0

7.12


BN-20-378

55.0

56.0

1.0

0.60


and

69.0

73.0

4.0

3.36


BN-20-379

44.0

52.0

8.0

2.84


including

45.0

46.0

1.0

14.40


BN-20-380

67.0

68.0

1.0

2.18


and

78.0

88.0

10.0

2.00


including

87.0

88.0

1.0

11.50


BN-20-382

63.0

66.0

3.0

0.86


BN-20-383

54.0

55.0

1.0

0.51


and

62.0

66.0

4.0

1.40


BN-20-385

45.0

45.8

0.8

0.96


and

52.8

53.4

0.6

3.54


BN-20-387

42.7

43.7

1.0

1.71


and

55.5

56.5

1.0

0.73


BN-20-389

49.0

53.9

4.9

1.46


including

52.0

53.0

1.0

4.84


BN-20-390

61.0

62.0

1.0

0.69


Footnotes:

1 - Diamond drill holes BN-20-362 to -392 were drilled consecutively. Any drill hole numbers not shown in the table above have no significant assays.
2 - Interval expressed as core length only; true thickness is estimated to be 50-100% of interval length due to local drilling conditions that does not always allow for drilling orthogonally to the apparent dip of mineralization.

About Stog'er Tight

The Stog'er Tight Deposit, located three (3) kilometres east of the Pine Cove Mill adjacent to existing road networks, has been defined over a strike length of 1,250 metres to date. Anaconda produced a total of 17,102 ounces of gold from 349,942 tonnes of ore from the Stog'er Tight Mine between June 2018 and January 2020. Gold from Stog'er Tight was recovered through the Pine Cove Mill with an average head grade of 1.75 g/t gold at an overall recovery of approximately 87%. Anaconda is currently assessing the potential for expanding the Stog'er Tight Deposit and developing additional resources, and ultimately reserves, along strike.

*The technical report, entitled " NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Update on the Point Rousse Project, Baie Verte, Newfoundland and Labrador, Canada" with a report date of September 18, 2020, was authored by Independent Qualified Persons Cath Pitman (P. Geo.) of Adiuvare Geology and Engineering Ltd., Michael Cullen (P. Geo) and Matthew Harrington (P. Geo) both of Mercator Geological Services Limited., and Qualified Persons Kevin Bullock (P. Eng), Jordan Cramm (P.Eng.), Chris Budgell (P.Eng.), Paul McNeill (P.Geo.) and David Copeland (P. Geo) of Anaconda Mining.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All samples and the resultant composites referred to in this release were collected using QA/QC protocols including the regular insertion of certified standards and blanks within each sample batch sent for analysis and completion of check assays of select samples. Diamond drill core and percussion samples were analyzed for Au at Eastern Analytical Ltd. in Springdale, NL ("Eastern"), using standard fire assay (30 g) pre-concentration and Atomic Absorption finish methods. Eastern is a fully accredited firm within the meaning of NI 43-101 for provision of this service.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

Exhibit A. A map showing the location of the initial results from the Infill Drill Program (BN-20-368 to -392) as well as the final results of the Exploration Drill Program (BN-20-362 to -367). Hole BN-20-367 intersected mineralization in an area previously untested and resulted in a new geological interpretation that mineralized host rocks may extend up to 250 metres to the south. This new area of interest will be drill tested with an additional 1,000 metres of diamond drilling.

SOURCE: Anaconda Mining Inc.

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NEWS vom 09.02.2021:

Anaconda Mining Reports Metallurgical Testing Results for the Goldboro Gold Project, Demonstrating Excellent Gold Recoveries

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TORONTO, ON / ACCESSWIRE / February 9, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce the results from the recently completed metallurgical testing program ("Met Program") for its 100% owned Goldboro Gold Project in Nova Scotia, Canada ("Goldboro" or the "Project"). The latest Met Program was initiated based on recent drill results which have demonstrated the presence of significant near-surface gold mineralization, located adjacent to modelled high-grade zones. This lower grade background material, which exists across the deposit and had not been previously subject to metallurgical testing, could conceptually be mined with surface mining methods, along with the high-grade zones of mineralization previously subject to metallurgical testing. In total, the metallurgical program tested distinct grade bins ranging from 0.16 grams per tonne gold ("g/t gold") to 4.46 g/t gold, with an average head grade of 1.04 g/t gold. The metallurgical testing demonstrated excellent recoveries within composites representative of potential mill feed for the Project with a range of recoveries between 89% to 98%, complementing the feasibility-level metallurgical testing announced on July 9, 2019, which demonstrated a range of recoveries from 87% to 99% on higher grade areas of the deposit (head grades ranged between 0.90 g/t gold and 23.0 g/t gold).

"We are extremely pleased with the results of the recently completed metallurgical testing program which reinforce the excellent recoveries achievable at Goldboro, and further support the potential for an expanded surface mining scenario for the Project. The metallurgical characteristics of the lower-grade mineralization adjacent to the higher-grade zones has demonstrated excellent recoveries which, combined with the previous metallurgical testing results, demonstrate a strong recovery curve for the Project. These positive results will be incorporated into the upcoming updated Mineral Resource Estimate anticipated in Q1 and will support the advancement of the feasibility study for the Goldboro Gold Project, where the impact of the strong recovery results and presence of significant background mineralization will be considered with respect to the mining rate, strip ratio, mill throughput, annual gold production and other key economic parameters."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

The results were produced from the recent metallurgical optimization and variability testing program completed by Base Metallurgical Laboratories in Kamloops, British Columbia under the overall supervision of Ausenco Engineering Canada Inc. Testing occurred in late 2020 on composite samples from near surface mineralization and included comminution testing, grind optimization, gravity concentration, leach testing, cyanide destruction and arsenic precipitation. Cyanide destruction and arsenic precipitation development were also completed to generate samples for environmental and geotechnical characterization studies supporting continued environmental permitting.

The Met Program evaluated 33 discrete composite samples ("composite" or "composites") representing 300 kilograms of material from across the deposit. Each composite consisted of multiple samples collected from diamond drill core, from within a specific grade range and from the three different gold systems within the deposit (West Goldbrook, Boston Richardson, and East Goldbrook). In total, the metallurgical program tested distinct grade bins, ranging from 0.16 g/t to 4.46 g/t gold (see Table 1 below) with an average grade of all composites at 1.04 g/t gold. Samples within each grade bin included material from across the deposit and from various portions of the deposit including modelled geological solids which include some high grade samples as well as lower grade material adjacent to modelled geological solids, representing all rock types observed in the deposit. The lower grade material represents a significant amount of mineralized material that was never previously tested, within or outside of the belts, particularly at or below 1.0 g/t, and the results of the Met Program on this material demonstrate excellent recoveries within these grade ranges.

Table 1. Results of the Met Program showing average grade, leach characteristics, gravity recovery, leach recovery and overall recovery of composites.



The results from this program (Exhibit A), combined with previous results announced in July 2019 (Exhibit A), demonstrate the exceptional linear recovery curves to be used for the upcoming Mineral Resource Estimate and ongoing Feasibility Study planned for Q4, 2021.



Exhibit A. A graph showing the recovery curves as a function of head grade from both the recent Met Program using background material (2020 Composites: Yellow Squares and Red line) as well as the 2019 metallurgical program which used only high-grade material (2019 Composites: Blue circles and line). Both higher grade mineralized material and lower grade background material show strong metallurgical recoveries.

Crushing and Grinding Testing

Detailed comminution testing characterized ore hardness by SMC (SAG Mill Comminution) Test, and Bond Rod Mill Work Index ("RWI"), Bond Ball Mill Work Index ("BWI") and Bond Abrasion Index ("AI"). The Composites fell in the range of 28.1 to 32.9 A x b values from the SMC tests, considered to be hard to very hard (resistance to impact breakage), and with a Bond Ball Mill Work Index median of 15.1 kilowatt hours per tonne ("kWh/t") which spanned the medium to medium-hard range of hardness. The average AI value was 0.228 g, which is low to medium abrasion.

Gravity Testing

An overall composite sample was tested with the Extended Gravity Recoverable Gold ("E-GRG") protocol to determine their amenability to gravity concentration. The results showed very high Gravity Recoverable Gold ("GRG") of 76% gold on a single overall composite. The GRG value is indicative of gravity gold amenability and indicates that all three Composite Ranges are amenable to recovery within a gravity circuit.

The GRG value does not directly predict or correlate gold recovery results from a closed-circuit milling operation.

Leach Testing

The flowsheet utilized in the Met Program consisted of grinding to a target of 80% passing 110 micron followed by combined gravity and leach for combined gold recovery as shown in the table above. Leach retention time of 36 hours was selected in optimization testing along with a slurry density of 45% solids and a sodium cyanide concentration of 0.5 grams per Litre ("g/L").

A total of 40 leach tests were conducted including initial screening tests and a bulk leach test. The results showed:
•Batch gravity recovery of gold ranging from 3% to 84%, averaging 26%;
•Gold leach extractions ranging from 80% to 96%, averaging 89%, with a final residue values of 0.01 g/t to 0.45 g/t gold, averaging 0.06 g/t gold;
•Combined overall gold extraction ranging from 86% to 99%, averaging 92%;
•Calculated gold head grades ranging from 0.16 g/t to 4.46 g/t gold, averaging 1.04 g/t gold; and
•Gold recovery was predictable over the entire range of composites including head grades and spatial distribution and by lithology.

Plant recoveries do not include typical plant losses.

Cyanide Destruction and Arsenic Precipitation

Cyanide destruction using the SO2/air method testing with batch and continuous testing demonstrated that a weak acid dissociable cyanide ("CNWAD") concentration below 3 milligrams per Litre ("mg/L") could be achieved with 45 minutes of retention time using a conventional addition ratio of 5.0g SO2/g CNWAD.

Arsenic precipitation of the Cyanide Destruction product with ferric sulphate reduced arsenic in solution to below 0.5 mg/L. Addition rates of ferric sulphate were in line with industrial practice at 8:1 iron to arsenic. This testing confirms that cyanide destruction and arsenic removal systems achieve water quality that meets the Federal Environmental Code of Practice for Metal Mines and the Metal Mining Effluent Regulations (MMER) discharge criteria.

Qualified Person

This news release has been reviewed and approved by Robert Raponi, P. Eng. of Ausenco Engineering Canada Inc.., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

SOURCE: Anaconda Mining Inc.


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NEWS vom 22.02.2021:

Anaconda Mining Announces Significant Increase to the Mineral Resources at the Goldboro Gold Project

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Measured and Indicated Mineral Resources of 1,946,100 ounces of gold, a 179% increase Inferred Mineral Resources of 798,100 ounces of gold, a 16% increase

TORONTO, ON / ACCESSWIRE / February 22, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce an updated and significantly expanded Mineral Resource Estimate ("Mineral Resource") prepared in accordance with National Instrument 43-101 ("NI 43-101") for its 100% owned Goldboro Gold Project in Nova Scotia, Canada ("Goldboro", or the "Project") (Exhibit A). With an effective date of February 7, 2021, this updated Mineral Resource demonstrates the potential to meaningfully expand the scale of the Project, especially the surface mining potential from open pits (Exhibits A - E). The Mineral Resource will form the basis of the mine plan to be outlined in a Feasibility Study anticipated to be announced in Q4 2021.

Highlights of the Goldboro Gold Project Updated Mineral Resource
•1,089,800 ounces of gold (11,880,000 tonnes at 2.86 grams per tonne ("g/t") gold) within two constrained open pits within the Measured and Indicated Mineral Resource categories, representing an increase in ounces of 1,361%;
•Overall, 1,946,100 ounces of gold (16,036,000 tonnes at an average grade of 3.78 g/t gold) within the Measured and Indicated Mineral Resource categories, representing a 179% increase in combined open pit and underground ounces;
•798,100 ounces of gold (5,306,000 tonnes at 4.68 g/t gold) within the Inferred Mineral Resource category; a 16% increase in combined open pit and underground;
•Feasibility level metallurgical studies demonstrate an excellent average recovery of 96% for the open pit constrained Mineral Resource (see press release dated February 9, 2021).
•Continued growth potential as the open pit shells only used Measured and Indicated Resources to create the open pit physical limits, strong opportunity exists for further conversion of Inferred Resources.

The significant increase in the size of the Mineral Resource at Goldboro represents a step-change for the economic potential of the Project, especially with over one million ounces of Measured and Indicated Resources within constrained open pits. Consequently, in addition to the ongoing Feasibility Study to be announced in Q4 2021, the Company has initiated a Preliminary Economic Assessment ("PEA") for Goldboro. The PEA will incorporate the updated Mineral Resource and feasibility work conducted to date, allowing the Company to demonstrate and discuss the economic potential of this significantly larger Project to all stakeholders.

"We are pleased to announce the significantly expanded Mineral Resource for the Goldboro Gold Project, which we believe is quickly transforming into a top-tier gold deposit. The expanded Mineral Resource is the culmination of nearly a year of effort that started with recognizing the massive potential of near-surface mineralization which is amenable to surface mining, which led to many months of updated geological modelling and incorporation of recent infill drilling campaigns, giving special attention to the broad zones of mineralization across a range of gold grades and their geological domains. With 1,089,800 ounces of Measured and Indicated Resources within constrained open pits, and metallurgical recoveries of 96% based on feasibility level studies, it is clear this Project is quickly developing into a sizeable gold deposit. We are excited to initiate a PEA for Goldboro, in parallel with the Feasibility Study, to demonstrate the economic potential of Goldboro and its ability to support the Company's growth strategy to become a 150,000 ounce per year gold producer."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

Table 1 summarizes the updated Mineral Resource and the comparative changes from the Previous Mineral Resource (as defined below).

Table 1: Mineral Resource Statement for the Goldboro Gold Project with Comparison with Previous Mineral Resource


Category

Tonnes*

Gold Grade*

Troy Ounces*

% Change in Tonnes

% Change in Ounces


('000)

(g/t)

from August 2019**

from August 2019**


Measured

7,521

3.58

866,200

+ 315%

+ 240%


Indicated

8,515

3.95

1,079,900

+ 273%

+ 143%


Measured + Indicated

16,036

3.78

1,946,100

+ 292%

+ 179%


Inferred

5,306

4.68

798,100

+ 76%

+ 16%


* Combined Open Pit and Underground Mineral Resources. Open Pit Mineral Resource based on a 0.44 g/t Au cut-off grade; Underground Mineral Resource based on 2.60 g/t Au cut-off grade.

** Refer to the Company's technical report entitled "Anaconda Mining Inc., Goldboro Gold Project Resource Update Phase 2, Guysborough County, NS" with an effective date of October 31, 2019 and report filing date of December 18, 2019 ("Previous Mineral Resource").

Goldboro Gold Project - Mineral Resource Estimate
The Mineral Resource, presented in Table 2, was prepared by Independent Qualified Person, Glen Kuntz, P. Geo. of Nordmin Engineering Ltd. ("Nordmin") of Thunder Bay, Ontario. The Mineral Resource is based on validated results of 635 surface and underground drill holes, for a total of 113,132.9 metres of diamond drilling that was completed between 1984 and the effective date of February 7, 2021. The Mineral Resource includes 45,408.7 metres of drilling conducted by Anaconda including 17,941.7 metres of diamond drilling in 121 holes since the Previous Mineral Resource estimate of August 21, 2019. Nine diamond drill holes totaling 1,001.9 metres were removed from the database due to inconsistent sample lengths.

Table 2: Mineral Resource Statement for the Goldboro Gold Project


Resource Type

Gold Cut-off

(g/t)

Category

Tonnes

('000)

Gold Grade

(g/t)

Troy Ounces


Open Pit

0.44

Measured

6,137

2.73

538,500


Indicated

5,743

2.99

551,300


Measured + Indicated

11,880

2.86

1,089,900


Inferred

1,580

1.75

89,000


Underground

2.60

Measured

1,384

7.36

327,700


Indicated

2,772

5.93

528,600


Measured + Indicated

4,156

6.41

856,200


Inferred

3,726

5.92

709,100


Combined*

0.44/2.60

Measured

7,521

3.58

866,200


Indicated

8,515

3.95

1,079,900


Measured + Indicated

16,036

3.78

1,946,100


Inferred

5,306

4.68

798,100


* Combined Open Pit and Underground Mineral Resources; The Open Pit Mineral Resource is based on a 0.44 g/t gold cut-off grade, and the Underground Mineral Resource is based on 2.60 g/t gold cut-off grade.

Mineral Resource Estimate Notes
1.Mineral Resources were prepared in accordance with NI 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). 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, sociopolitical, marketing, or other relevant issues.
2.Open Pit Mineral Resources are reported at a cut-off grade of 0.44 g/t gold that is based on a gold price of CAD$2,000/oz (~US$1,550/oz) and a gold processing recovery factor of 96%.
3.Underground Mineral Resource is reported at a cut-off grade of 2.60 g/t gold that is based on a gold price of CAD$2,000/oz (~US$1,550/oz) and a gold processing recovery factor of 97%.
4.Assays were variably capped on a wireframe-by-wireframe basis (Table 5).
5.Specific gravity was applied using weighted averages to each individual wireframe.
6.Mineral Resource effective date February 7, 2021.
7.All figures are rounded to reflect the relative accuracy of the estimates and totals may not add correctly.
8.Excludes unclassified mineralization located within mined out areas.
9.Reported from within a mineralization envelope accounting for mineral continuity.

Input Parameters for Mineral Resource Calculation

Open Pit
For the open pit Mineral Resource (Table 2 and Exhibit A), a pit limit analysis was undertaken using the Lerchs-Grossmann ("LG") algorithm in Geovia's Whittle™ 4.7 software to determine physical limits for a pit shell constrained Mineral Resource. The parameters used to generate a pit shell are shown in Table 3.

Table 3: Physical Pit Limit Analysis Parameters


PARAMETER

VALUE


Currency Used for Evaluation

C$


Block Size

In-situ model reblocked to 2 m x 2 m x 5 m


Overall Slope Angle

Rock: Varied by Sector - Range 42o - 50o Overburden: 25o


Mining Cost

3.50$/tmined Overburden

5.00$/tmined Rock

+ 0.02$/t per 10 m for depths between 100 - 200 m

+ 0.03$/t per 10 m for depths +200 m


Process Cost

includes assumptions for Milling, G&A, tailings, rehabilitation

24.50$/tprocessed


Selling Cost

includes dore transportation, refining, and royalty

24.84$/troy ounce ("t.oz")


% Payable

99.95%


Metal Price

1,550 US$/t.oz.

Exchange Rate 1US$: 1.3C$

2,000 C$/t.oz.(rounded)


Process Recovery

Based on Grade - Recovery Curve

(Block Grade -(0.0262*LN (Block Grade)+0.0712))/Block Grade*100-0.083

Average Recovery 96%


Resources Used to Generate Pit Shell

Measured + Indicated (no Inferred Resources were used to create the open pit physical limits)


Pit Shell Selection

Revenue Factor RF 0.76


Production Rate Assumption

4,000 tonne per day


The milling cut-off grade is used to classify the material contained within the pit shell limits as open pit resource material. This break-even cut-off grade is calculated to cover the Process and Selling Costs using the parameters listed in Table 3. The open pit Mineral Resource cut-off grade is estimated to be 0.44 g/t gold. For resource cut-off calculation purposes, a mining recovery of 100% and 0% mining dilution were applied.

Underground
For the underground Mineral Resource ( Table 2), the parameters used to calculate the cut-off grade are shown in Table 4. The underground Mineral Resource cut-off grade is estimated to be 2.60 g/t gold. For resource cut-off calculation purposes, a mining recovery of 100% and 0% mining dilution were applied.

Table 4: Underground Mineral Resource Cut-off Grade Parameters


PARAMETER

VALUE


Currency Used for Evaluation

C$


Underground Mining Cost

includes assumptions for operating waste development, surface rehandle

96.25$/tprocessed


Process Cost

includes assumptions for Milling, G&A, tailings, indirect costs

44.30$/tprocessed


Underground Support Cost

Includes assumptions for sustaining underground capital, infill diamond drilling

22.50$/tprocessed


Selling Cost

includes dore transportation, refining, and royalty

24.84$/t.oz.


% Payable

99.95%


Metal Price

1,550 US$/t.oz.

Exchange Rate 1US$: 1.3CA$

2,000 C$/t.oz.(rounded)


Process Recovery

97%


Production Rate Assumption

1,200 tonne per day



Geological Domaining
Nordmin, through an interactive process with Anaconda, undertook a full re-examination of the mineralogical, lithological, structural, and geochemical correlations influencing the higher-grade and lower-grade gold areas within the Project. Gold mineralization at the Project occurs in both quartz veins and within the argillite that hosts the veins and within the rocks adjacent to the modelled argillites and quartz veins, including both lesser argillite with greywacke. Disseminated, euhedral arsenopyrite is pervasively associated with gold mineralization. It is commonly observed within the host rock and is usually present in mineralized quartz veins. Wall rock generally contains more pyrrhotite and arsenopyrite than directly associated quartz veins.

The Deposit consists of three domains referred to as the Boston Richardson ("BR"), East Goldbrook ("EG"), and West Goldbrook ("WG") Gold Systems (Exhibit A). The WG Gold System is separated from the BR Gold System by a north trending, near vertical fault with tens of metres of apparent offset. The EG Gold System is separated from the BR Gold System by a thick greywacke sequence or marker unit. Stratigraphic younging is from west to east with the anticlinal fold plunging shallowly to the east.

From a modelling perspective, each of the Deposit Gold Systems was separated into its own domain. Each domain was further subdomained into High-Grade Mineralized "Belts" and Low-Grade Mineralized Zones.

In 2020, Anaconda completed 121 infill drill holes (17,941.7 m) across these three domains and within approximately the top 225 m of surface. Nordmin utilized these infill drill holes and reviewed the lithological, structural, spatial mineralization controls and grade variances within the Project. The review concluded that each domain required extensive remodeling of the tightly folded higher-grade mineralized belts and the creation of a new lower-grade mineralized zone that encapsulates the mineralized belts. Previously, the significance of the lower-grade zones was not correctly understood and not included within previous resource estimates. The combination of higher-grade mineralized belts and lower-grade mineralized zones supports the estimation of grade between the higher-grade belts and therefore can be applied to support various surface and underground mining methods.

Detailed wireframing was completed based on plan-oriented sections to mirror likely mining patterns based on the geometry of the Deposit. Special attention was given to consistent smoothing of the wireframe linework to mimic the underlying geological controls on mineralization, including geological bedding, regularly dipping north and south limbs of the large-scale anticlinal fold geometry and down the plunge of the anticline. Historical workings of three underground mines, which traced the outline of the fold geometry down the fold plunge and along anticlinal limbs coincident with gold mineralization, were also used to orient wireframes. Previously, wireframes were created between 10 m to 25 m cross-sections and joined section to section resulting in irregular geometries and plunge lines not representative of the underlying geology. All wireframes are independent of each other without overlap across wireframes or across domains.

Explicit modelling was used to create the Mineral Resource, which allows for mineralization to better reflect the Deposit geology and associated geochemistry. Nordmin's opinion is that the explicit modelling approach minimizes risks compared to using implicit modelling for the Project.

Compositing
Compositing of assays is a technique used to give each sample a relatively equal length to reduce the potential for bias due to uneven sample lengths; it prevents the potential loss of sample data and reduces the potential for grade bias due to the possible creation of short and potentially high-grade composites that are generally formed along the zone contacts when using a fixed length.

The raw assay data was manually "flagged" to intersecting belts and low-grade zones. Each belt and low-grade zone's flagged assays were statistically analyzed to define appropriate capping, modelling procedures, and parameters. Nordmin reviewed the previous historical estimate capping method and determined the global 80 g/t gold cap was not representative of the gold distribution for the entire Deposit. Therefore, the assays were variably capped to prevent excessive high-grade from skewing the estimation in each wireframe (Table 5). The overall difference between an 80 g/t gold cap and a variable cap is less than 2% over the entire Deposit.

Table 5: Assay Capping on a Wireframe-By-Wireframe Basis


West Goldbrook

Boston Richardson

East Goldbrook


Belt

Type

Au Cap
(g/t)

Belt

Type

Au Cap
(g/t)

Belt

Type

Au Cap
(g/t)


1

DDH

No cap

1

Chip

100

1

DDH

No cap


2

DDH

80

DDH

75

2

DDH

No cap


3a

DDH

No cap

2

Chip

95

3

DDH

120


3b

DDH

No cap

DDH

70

4

DDH

50


4

DDH

No cap

3

Chip

95

4a

DDH

No cap


5

DDH

No cap

DDH

No cap

4b

DDH

120


5a

DDH

100

3a

DDH

210

5

DDH

120


5b

DDH

No cap

4

DDH

40

5a

DDH

80


6

DDH

No cap

4a

DDH

No cap

6

DDH

120


6a

DDH

50

5

DDH

120

7

DDH

30


6b

DDH

No cap

5a

DDH

120

8

DDH

56


7

DDH

No cap

6

DDH

120

9

DDH

120


8

DDH

70

7

DDH

75

10

DDH

No cap


9

DDH

No cap

8

DDH

55

10a

DDH

No cap


10

DDH

No cap

9

DDH

No cap

11

DDH

120


11

DDH

No cap

10

DDH

60

11a

DDH

No cap


Low Grade

DDH

No Cap

11

DDH

100

12

DDH

120


12

DDH

No cap

12a

DDH

No cap


13

DDH

No cap

13

DDH

50


Low Grade

DDH

No cap

13a

DDH

No cap


14

DDH

50


14a

DDH

120


15

DDH

80


15a

DDH

No cap


15b

DDH

No cap


16

DDH

120


17

DDH

40


18

DDH

80


19

DDH

80


20

DDH

80


21

DDH

No cap


22

DDH

80


23

DDH

80


24

DDH

No cap


25

DDH

80


Marker

DDH

No Cap


Low Grade

DDH

5



The raw sample data was found to have a moderately consistent range of sample lengths. Samples captured within all zones were composited to 1.0 m regular intervals based on the observed modal distribution of sample lengths, supporting a 2.0 m x 2.0 m x 2.0 m (Northing x Easting x Elevation) block model with three sub-blocking levels (Northing = 0.25 m x Easting = 0.25 m x variable elevation). An option to use a slightly variable composite length was chosen to allow for backstitching shorter composites located along the edges of the composited interval. All composite samples were generated within each high-grade mineralized belt and lower-grade mineralized zones. There are no overlaps along boundaries. The composite samples were statistically validated to ensure no material loss of data or change to each sample population's mean grade.

Block Model Resource Estimation
A series of upfront test modelling was completed to define an estimation methodology to meet the following criteria:
•Representative of the deposit geology, structural models and geological controls on mineralization.
•Accounts for the variability of grade, orientation, and continuity of mineralization.
•Controls the smoothing (grade spreading) of grades and the influence of outliers.
•Accounts for most of the mineralization.
•Is robust and repeatable within the domains.
•Supports multiple high-grade belts and low-grade zones.

Multiple test scenarios were evaluated to determine the optimum processes and parameters to achieve the stated criteria. Each scenario incorporated nearest neighbour, inverse distance squared, inverse distance cubed, and ordinary kriging interpolation methods.

All test scenarios were evaluated based on global statistical comparisons, visual comparisons of composite samples versus block grades, and overall smoothing assessment. Based on the testing results, it was determined that the draft and final resource estimation methodology would constrain the mineralization by using hard wireframe boundaries to control the spread of high-grade and low-grade mineralization. Ordinary kriging was selected as the most representative interpolation method.

Search Strategy and Estimation
Zonal controls were used to constrain the grade estimates to each wireframe. These controls prevented the samples from individual wireframes from influencing others' block grades, acting as a "hard boundary" between the wireframes.

The search orientation strategy determined to be most representative of the mineralization at the Deposit was to use a combination of an overall search ellipsoid for each domain and to allow dynamic anisotropy in the estimation process. Dynamic anisotropy is a search adjustment applied to estimation, which considers local variation of the wireframe orientation. The dynamic anisotropy approach was applied to the three Gold Systems and adjusts the search ellipsoid on a block-to-block basis controlled by the orientation for all mineralized wireframes. Nordmin's opinion is that dynamic anisotropy allows for a much more accurate estimation of grade and mineralization due to the tightly folded nature of mineralized belts and lower-grade mineralized zones.

Estimation passes were defined with carefully-selected search distances. The first pass is correlated to a Measured categorization, the second pass correlated to an Indicated categorization, and the third pass correlated to an Inferred categorization. These three passes of increasing distances were as follows (major axis x semi-major axis x minor axis).

High-Grade Mineralized Belts:
•First Pass: 25 m x 15 m x 10 m
•Second Pass: 31.3 m x 18.8 m x 12.5 m
•Third Pass: 150 m x 90 m x 60 m

Lower-Grade Mineralized Zones:
•First Pass: 15 m x 10 m x 5 m
•Second Pass: 18.8 m x 12.5 m x 6.3 m
•Third Pass: 60 m x 40 m x 20 m

Assessment of Spatial Grade Continuity
Datamine and Sage 2001 was used to determine the geostatistical relationships of the Deposit. Independent variography was performed on composite data for each wireframe in each domain. Experimental grade variograms were calculated from the capped/composited sample gold data to determine the approximate search ellipse dimensions and orientations.

The analyses considered the following:
•Downhole variograms were created and modelled to define the nugget effect;
•Experimental pairwise-relative correlogram variograms were calculated to determine directional variograms for the strike and down dip orientations;
•Variograms were modelled using an exponential with practical range;
•Directional variograms were modelled using the nugget defined in the downhole variography and the ranges for the along strike, perpendicular to strike, and down dip directions;
•Variograms outputs were re-oriented to reflect the orientation of the mineralization; and
•The analysis demonstrated that gold continuity could be appropriately defined by one main variogram across all domains.

Classification
The Mineral Resource was classified in accordance with the 2014 CIM Definition Standards and 2019 CIM Best Practice Guidelines. Mineral Resource classifications (Exhibit D) or "categories" were assigned to regions of the block model based on the Qualified Person's ("QP") confidence and judgement related to geological understanding, continuity of mineralization in conjunction with data quality, spatial continuity based on variography, estimation pass, data density, and block model representativeness, specifically assay spacing and abundance, kriging variance, and search volume block estimation assignment.

The classification was initially applied from the estimation pass. Blocks populated in pass 1 were classified as Measured, blocks populated in pass 2 were classified as Indicated, and blocks populated in pass 3 were classified as Inferred. Subsequently, each domain block model was analyzed, and it was determined that several classification adjustments were required. These adjustments were as follows:
•Independent wireframes were built within specific areas that have relatively low drill density and/or high kriging variance. All material within these wireframes were classified as Inferred; and
•Specific areas that contain lower-grade mineralized zones with a Measured or Indicated classification were downgraded to a lower classification in areas with poor drill density toward the bottom of the modelled Deposit.

Technical Report and Qualified Persons
A Technical Report prepared in accordance with NI 43-101 for the Goldboro Gold Project will be filed on SEDAR (www.sedar.com) before March 31, 2021. Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Resource. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The Mineral Resource estimate was independently prepared under the supervision of Mr. Glen Kuntz, P.Geo. (Ontario) of Nordmin Engineering Ltd., a "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included a site visit to inspect drilling, logging, density measurement procedures and sampling procedures, and a review of the control sample results used to assess laboratory assay quality. In addition, a random selection of the drill hole database results was compared with original records.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", and Glen Kuntz, P. Geo. (Ontario) of Nordmin Engineering Ltd., an "Independent Qualified Person" under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

ABOUT ANACONDA
Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation, including but not limited to, statements with respect to timing of the PEA and Feasibility Study, exploration results, project development, mineral resource estimates, and other plans and activities of Anaconda. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:
Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]



Exhibit A. The location of the Goldboro Gold Project showing the Goldboro deposit and open pits that constrain the open pit portion of the Mineral Resource.



Exhibit B. A map and two cross sections showing the Mineral Resource within and outside the constraining open pits.



Exhibit C. A map and long section through the Goldboro Deposit showing gold distribution and the location of the constrained open pits.
|


Exhibit D. A map and two cross sections showing the Mineral Resource as resource categories within and outside of the constrained open pits.



Exhibit E. An oblique view of the Goldboro Deposit looking down the plunge of the anticlinal structure as outlined by the Mineral Resource in relation to the constrained open pits. Viewed above the horizon and looking towards East-Southeast.

SOURCE: Anaconda Mining Inc.
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https://www.accesswire.com/631149/Anaconda-Mining-Announces-…

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[IQ4U]

NEWS vom 25.02.2021:

Anaconda Mining Announces Q4 and Full Year 2020 Financial Results; Generates Record Cash Flow From Operating Activities of $14.1 Million in 2020

--------------------------------------------------------------------------------

TORONTO, ON / ACCESSWIRE / February 25, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to report its financial and operating results for the three months and year ended December 31, 2020 ("Q4 2020"). The consolidated financial statements and management discussion & analysis documents can be found at www.sedar.com and the Company's website, www.anacondamining.com. All dollar amounts are in Canadian dollars unless otherwise noted.

Highlights for the Year Ended December 31, 2020
•Anaconda produced 18,268 ounces of gold in 2020 from its Point Rousse operation, achieving its annual guidance of 18,000 to 19,000 ounces, with the processing of ore from the Argyle Gold Mine commencing in late Q4 2020.
•Anaconda sold 17,918 ounces of gold in 2020, generating record metal revenue of $41.5 million at an average sales price* of C$2,316 (US$1,728) per ounce of gold. As of December 31, the Company also had over 525 ounces in gold doré inventory, which was subsequently sold in January.
•The Point Rousse Complex generated EBITDA* of $4.7 million in Q4 2020 and $20.5 million for the year ended December 31, 2020, compared with $1.6 million and $9.9 million for the respective 2019 periods, driven by higher ounces sold and a significantly higher gold price.
•Operating cash costs per ounce sold* at the Point Rousse Project in Q4 2020 were $1,321 (US$1,014), and $1,167 (US$871) for the year ended December 31, 2020, at the lower end of the revised annual guidance of C$1,150 and C$1,250 per ounce of gold sold, due to better than planned throughput and grade in the second half of 2020.
•All-in sustaining cash costs per ounce sold*, including corporate administration and sustaining capital expenditures, was $2,053 (US$1,576) for Q4 2020, and $1,636 (US$1,220) for the full year.
•In 2020, the Company invested $7.2 million in its exploration and development projects, including $4.4 million on the Goldboro Gold Project in Nova Scotia relating to the feasibility study, permitting, and ongoing diamond drilling to support the updated and significantly expanded Mineral Resource Estimate announced on February 22, 2021.
•Net income for 2020 was $8,228,243, or $0.06 per share, compared to $373,047, or $0.00 per share, for 2019, mainly due to the significantly higher gold price and increased gold sales.
•Anaconda completed a non-brokered flow-through private placement for $5.5 million in July 2020, which enabled the acceleration of the Company's growth programs, particularly at the Goldboro Gold Project and the Tilt Cove Gold Project.
•As of December 31, 2020, the Company had a cash balance of $14.6 million and working capital* of $13.9 million. Subsequent to year-end, the Company received a further $2.8 million in proceeds from the full exercise of share purchase warrants expiring on January 10, 2021.

*Refer to Non-IFRS Measures section below. A full reconciliation of Non-IFRS Measures can be found in the Management Discussion and Analysis for the year ended December 31, 2020.

"We are pleased to announce a successful year of production and financial results, with Anaconda generating record cash flow from operations of $14.1 million from the sale of 17,918 ounces of gold. We ended 2020 with a treasury balance of $14.6 million and continue to generate free cash flow at the Point Rousse operation, which allows us to aggressively pursue our growth strategy. We are particularly excited with the advancement of the Goldboro Gold Project, where we recently announced an expanded Mineral Resource including 1,946,100 ounces of gold in Measured and Indicated Resources and 798,100 ounces in Inferred Resources. Anaconda Mining continues to offer investors unique exposure to production and free cash flow, growth from development, and discovery upside, all in top tier mining jurisdictions."

~Kevin Bullock, President and Chief Executive Officer, Anaconda Mining Inc.

Consolidated Results Summary


Financial Results

Three months ended

December 31, 2020

Three months ended

December 31, 2019

Year ended

December 31, 2020

Year ended

December 31, 2019


Revenue ($)
9,988,251 6,506,722 41,582,990 31,594,739 29,547,682

Cost of operations, including depletion and depreciation ($)
6,392,715 4,919,066 24,761,035 22,690,028

Mine operating income ($)
3,595,536 1,587,656 16,821,955 6,857.654

Net income (loss) ($)
792,203 (229,778 ) 8,228,243 373,047

Net income (loss) per share ($/share) - basic and diluted ($)
0.01 (0.00 ) 0.06 0.00

Cash generated from operating activities ($)
2,080,151 (209,207 ) 14,087,867 4,372,224

Capital investment in property, mill and equipment ($)
1,383,079 133,609 2,960,787 2,181,896

Capital investment in exploration and evaluation assets ($)
2,514,733 1,451,810 7,152,794 10,943,829

Average realized gold price per ounce*
US$1,921 US$1,489 US$1,728 US$1,360

Operating cash costs per ounce sold*
US$1,014 US$1,039 US$871 US$878

All-in sustaining cash costs per ounce sold*
US$1,576 US$1,282 US$1,220 US$1,247



December 31, 2020 December 31, 2019

Working capital* ($)
13,938,471 2,728,061

Total assets ($)
81,396,971 63,757,965

Non-current liabilities ($)
7,529,640 6,903,274

*Refer to Non-IFRS Measures section for reconciliation

During the fourth quarter of 2019, the Company processed a bulk sample for Goldboro (the "Bulk Sample") at its Pine Cove Mill (see press release dated January 16, 2020). Fourth quarter and annual 2019 mill statistics are presented both including the Bulk Sample, and on a Point Rousse stand-alone basis.


Operational Results

Three months ended

December 31, 2020

Three months ended

December 31, 2019

Year ended

December 31, 2020

Year ended

December 31, 2019


Ore mined (t)
110,455 123,302 512,028 413,139

Waste mined (t)
453,859 518,698 1,964,689 1,771,408

Strip ratio
4.1 4.2 3.8 4.3

Ore milled (t)
107,257 110,474 459,085 401,499

Grade (g/t Au)
1.39 1.49 1.42 1.52

Recovery (%)
86.8 83.1 87.4 82.3

Gold ounces produced
4,171 4,411 18,268 16,181

Gold ounces sold
3,970 4,209 17,918 17,265

Excluding the operating results from the Bulk Sample, the Pine Cove Mill Statistics specifically for production from the Point Rousse operation are as follows:


Dry tonnes processed
107,257 100,689 459,085 391,714

Tonnes per day ("tpd")
1,274 1,318 1,302 1,248

Grade (grams per tonne)
1.39 1.27 1.42 1.46

Recovery (%)
86.8 84.0 87.4 82.8

Gold ounces produced
4,171 3,441 18,268 15,211

Gold ounces sold
3,970 3,306 17,918 16,362

Review of the Year Ended December 31, 2020

Operational Overview

The Point Rousse operation produced 18,268 ounces of gold during 2020, achieving annual guidance of 18,000 to 19,000 ounces, and representing a 13% increase over 2019 as a result of higher throughput and stronger recoveries. Production was predominantly from the Pine Cove Pit, where mining ceased in early Q4 2020 and mill production was maintained from the established Pine Cove stockpile.

The mine operation produced 512,028 tonnes of ore in 2020, a significant increase over 2019 when the first half of the year was focused on the lower tonnage profile Stog'er Tight Mine. The strip ratio for 2020 was 3.8 waste tonnes to ore tonnes, a decrease from 4.3 in 2019, as the waste moved decreased as mining in the Pine Cove Pit neared completion. Going forward into 2021, the mine operations will be exclusively focused on production from Argyle, which together with existing stockpiles will contribute approximately 70% of mill throughput in the upcoming year, with mill throughput supplemented by Pine Cove and marginal stockpiles.

During 2020, the mill processed 459,085 tonnes of ore, an increase of 14% compared to 2019 due to strong mill availability of 96.3% in the most recent year compared to only 89.6% in 2019. The Pine Cove Mill has returned to consistent and sustainable operations since the challenges encountered in the early half of 2019, when unplanned maintenance of the regrind mill impacted mill availability. Average grade from Point Rousse production was 1.42 g/t in 2020, down slightly from 1.46 g/t in 2019 (excluding the impact of the Bulk Sample), as ore feed in the first half of the prior year was mainly from the higher grade Stog'er Tight Mine. The mill achieved an average recovery rate of 86.8% in Q4 2020 and 87.4% for the 2020 year, both representing strong increases over the comparative periods of 2019.

Financial Results

Anaconda sold 17,918 ounces of gold in 2020 to generate record metal revenue of $41.5 million at an average realized gold price of C$2,316 (US$1,728) per ounce, representing a 41% increase in metal revenue compared to 2019 due to a combination of significantly higher gold prices and higher gold production. As of December 31, 2020, the Company had over 525 ounces of gold doré inventory, which was sold in January.

Operating expenses for the year ended December 31, 2020 were $20,953,142, compared to $18,648,582 in the year ended December 31, 2019. Operating expenses for 2020 included mining costs of $10,458,651, an increase from $9,366,509 in the previous year, as the Company moved 13% more material in 2020 while mining in the Pine Cove Pit. Processing costs in 2020 were $9,928,022, an increase over $8,923,013 in 2019 driven mainly by a 14% increase in mill throughput. Operating expenses were also impacted by an inventory adjustment of $1,130,683 due to the build-up of stockpile inventory as of December 31, 2020. Operating cash costs per ounce sold during 2020 were C$1,167 (US$871), at the lower end of the Company's revised 2020 annual operating cash cost guidance of C$1,150-C$1,250, as a result of better than planned throughput and grade in the second half of 2020.

The royalty expense for 2020 was $49,196, a decrease from 2019 when a greater proportion of production was from Stog'er Tight, which carries a 3% net smelter royalty. Depletion and depreciation for the year ended December 31, 2020 was $3,802,837 compared to $3,608,121 recognized for the year ended December 31, 2019.

Mine operating income for the year ended December 31, 2020 was $16,821,955, an increase from mine operating of $6,857,654 in 2019, primarily due to the increase in metal revenue as a result of higher gold ounces sold and a significantly high gold price.

Corporate administration expenditures were $3,581,921 during 2020, a decrease from 2019 as a result of the Company's effort to streamline costs and renew its focus on production growth. In addition, as part of this renewed focus, the Company recorded a gain of $1,355,247 on the partial or full sale of two subsidiaries, specifically the spin-out of Novamera and its narrow vein mining technology (pre-tax gain of $1,902,894) and the sale of ExploreCo (pre-tax loss of $547,647; after-tax gain of $296,353).

Share-based compensation was $380,733 during the year ended December 31, 2020, compared to $861,429 in the comparative 2019 period, reflecting the greater number of share units granted in the previous year.

Finance expense for the year ended December 31, 2020 was $211,669, significantly less than $417,072 recognized for the year ended December 31, 2019 as a result of a gold loan that was delivered into in Q2 and Q3 2019.

Net comprehensive income for the year ended December 31, 2020, was $8,228,243, or $0.06 per share, compared to net comprehensive income of $373,047, or $0.00 per share, in the comparative period of 2019. The improvement from the prior year was driven by higher mine operating income in 2020 offset by a net income tax expense of $6,141,528 (year ended December 31, 2019 - $443,859) as a result of the strong operating results and use of tax pools during 2020.

Financial Position and Cash Flow Analysis

As of December 31, 2020, the Company had working capital of $13,950,730, which included cash and cash equivalents of $14,634,595. The current portion of loans includes $1,475,831 outstanding from a $5.0 million term loan with the Royal Bank of Canada, entered into in March 2019. The term loan carries a fixed interest rate of 4.6% and performance guarantee fee by Export Development Canada ("EDC") of 1.85%, payable quarterly based on the proportional amount outstanding.

Anaconda generated $14,087,687 in operating cash flows during the year ended December 31, 2020, after accounting for corporate administration costs of $3,581,921. The Point Rousse Project generated EBITDA of $20,499,235, based on gold sales of 17,918 ounces at an average gold price of C$2,316 per ounce sold and operating cash costs of C$1,167 per ounce sold. Operating cash flows were also reduced by changes in working capital, namely the reduction in accounts payable and the increase in stockpiled inventory.

The Company continued to invest in its key growth projects in Newfoundland and Nova Scotia in 2020, spending $7,152,794 on exploration and evaluation assets (adjusted for amounts included in trade payables and accruals at December 31, 2020), primarily on the continued advancement of the Goldboro Project ($4,401,859). The Company also invested $2,960,787 into the property, mill and equipment at the Point Rousse operation, with capital investment focused on a pushback of the Pine Cove Pit earlier in the year and development activity at Argyle during Q4 2020.

Financing activities during 2020 included the net proceeds of $5,463,763 from a non-brokered flow-through private placement completed in July 2020, the ongoing repayment of the RBC term loan, and the repayment of other loans and lease obligations. The Company also received $2,340,346 from the exercise of warrants and $427,701 from the exercise of stock options.

Non-IFRS Measures

Anaconda has included in this press release certain non-IFRS performance measures as detailed below. In the gold mining industry, these are common performance measures but may not be comparable to similar measures presented by other issuers. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Operating Cash Costs per Ounce of Gold - Anaconda calculates operating cash costs per ounce by dividing operating expenses per the consolidated statement of operations, net of silver sales by-product revenue, by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and administration as well as royalties, however, excludes depletion and depreciation and rehabilitation costs.

All-In Sustaining Costs per Ounce of Gold - Anaconda has adopted an all-in sustaining cost performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company's definition conforms to the all-in sustaining cost definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to external users in assessing operating performance and the ability to generate free cash flow from current operations.

The Company defines all-in sustaining costs as the sum of operating cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), corporate administration costs, sustaining exploration, and rehabilitation accretion and amortization related to current operations. All-in sustaining costs excludes capital expenditures for significant improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, financing costs, debt repayments, and taxes. Canadian and US dollars are noted for realized gold price, operating cash costs per ounce of gold and all-in sustaining costs per ounce of gold. Both currencies are considered relevant and the Company uses the average foreign exchange rate for the period.

Average Realized Gold Price per Ounce Sold - In the gold mining industry, average realized gold price per ounce sold is a common performance measure that does not have any standardized meaning. The most directly comparable measure prepared in accordance with IFRS is gold revenue. The measure is intended to assist readers in evaluating the revenue received in a period from each ounce of gold sold.

Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") - EBITDA is earnings before finance expense, deferred income tax expense and depletion and depreciation.

Point Rousse Project EBITDA is EBITDA before corporate administration and other expenses (income).

Working Capital - Working capital is a common measure of near-term liquidity and is calculated by deducting current liabilities from current assets.

ABOUT ANACONDA

Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, risks related to the COVID-19 pandemic, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:

Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]

SOURCE: Anaconda Mining Inc.

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[IQ4U]

Super Artikel über Gold:

The Simple Case For Gold: Betting Against a World First in History

To win I just need this to NOT be the first time ever in thousands of years that gold does not do what gold has always done

Everyone is aware that gold and the miners have been in a correction since early August of last year. Sentiment is unsurprisingly extremely bad. In fact, according to SentimentTrader’s index, the pessimism in GDX (large miners) recently hit the third lowest level in ten years:

I don’t know what the sentiment index looks like for gold but given the amount of pessimism I am seeing on twitter I assume it is really really bad. What makes it even worse for gold investors is of course that most other asset classes have been ripping with some hitting fresh ATHs. Most commodities, except for gold and silver, are actually making new multi year highs. Then add on the Bitcoin (crypto) mania with bullions banks, the FED, MSM and some prominent traders/investors basically proclaiming the death of gold. In other words it has been a perfect storm of negativity and a feeling of “missing out” coupled with ridicule primarily from Bitcoin maximalists. Some call gold investors “stubborn” and “dinosaurs” because we refuse to let go of a “relic” that is supposedly outdated in the New Crypto World Order which leads to some interesting questions…

Have we ever seen a global environment where gold and silver makes more sense to own than now?...

Quelle: https://www.thehedgelesshorseman.com/gold/simple-case-for-go…

[IQ4U]

Anaconda Mining Initiates Further Infill Drilling at Goldboro Following Resource Update, Targeting Growth in M&I Resources

TORONTO, ON / ACCESSWIRE / March 3, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce that it has initiated a new 3,500 metre diamond drill program ("Drill Program") at the Company's 100%-owned Goldboro Gold Project ("Goldboro", or the "Project") in Nova Scotia. The Drill Program follows the significantly expanded Mineral Resource Estimate ("Mineral Resource") announced on February 22, 2021, with the aim of converting high priority Inferred Resources that reside within one of the constrained open pits outlined in the updated Mineral Resource (Exhibit A and B).

Importantly, the constrained open pits were designed using only Measured and Indicated Resources (Exhibit A), which in the process captured a portion of Inferred Resources. This infill program aims to upgrade those Inferred Resources into the Measured and Indicated categories to support the ongoing Feasibility Study (Exhibit B). The company is also evaluating further opportunities beyond this program to expand the open pit portion of the Mineral Resource, particularly by targeting Inferred Resources adjacent to the constrained open pits.

Highlights of the Goldboro Mineral Resource include:
•Overall, 1,946,100 ounces of gold (16,036,000 million tonnes at an average grade of 3.78 grams per tonne ("g/t") within the combined open pit and underground, Measured and Indicated Mineral Resource categories;
•Overall, 798,100 ounces of gold (5,306,000 tonnes at 4.68 g/t gold) within the combined open pit and underground, Inferred Mineral Resource category;
•1,089,900 ounces of gold (11,880,000 tonnes at 2.86 g/t gold) within two constrained open pits within the Measured and Indicated Mineral Resource categories (Exhibits A and B); and
•89,000 ounces of gold (1,580,000 tonnes at 1.75 g/t gold) in two constrained open pits within the Inferred Mineral Resource category.

"On the heels of the recently announced significant increase to the Goldboro Mineral Resource and the related positive metallurgical recoveries, we are excited to initiate a further round of infill drilling with the aim of upgrading Inferred resources to Measured and Indicated that fall within the open pits at Goldboro, so that they might be incorporated into the ongoing Feasibility Study, which is anticipated in Q4 2021. The current inferred open pit resources, lying within the constrained pit shells provide an immediate opportunity to increase the amount of Measured and Indicated resources included in the open pits. As we advance a Preliminary Economic Assessment, anticipated in Q2 and in parallel with the Feasibility Study, we expect there will be other opportunities to optimize and expand the open pit resource and economics of the Project, and demonstrate the Goldboro's ability to support the Company's growth strategy to become a 150,000 ounce per year gold producer."

~Kevin Bullock, President and CEO, Anaconda Mining Inc.

Mineral Resource Statement for the Goldboro Gold Project


Resource Type

Gold Cut-off

(g/t)

Category

Tonnes

('000)

Gold Grade

(g/t)

Troy Ounces


Open Pit

0.44

Measured

6,137

2.73

538,500


Indicated

5,743

2.99

551,300


Measured + Indicated

11,880

2.86

1,089,900


Inferred

1,580

1.75

89,000


Underground

2.60

Measured

1,384

7.36

327,700


Indicated

2,772

5.93

528,600


Measured + Indicated

4,156

6.41

856,200


Inferred

3,726

5.92

709,100


Combined*

0.44/2.60

Measured

7,521

3.58

866,200


Indicated

8,515

3.95

1,079,900


Measured + Indicated

16,036

3.78

1,946,100


Inferred

5,306

4.68

798,100


* Combined Open Pit and Underground Mineral Resources; The Open Pit Mineral Resource is based on a 0.44 g/t gold cut-off grade, and the Underground Mineral Resource is based on 2.60 g/t gold cut-off grade.

Mineral Resource Estimate Notes
1.Mineral Resources were prepared in accordance with NI 43-101 and the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). 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, sociopolitical, marketing, or other relevant issues.
2.Open Pit Mineral Resources are reported at a cut-off grade of 0.44 g/t gold that is based on a gold price of CAD$2,000/oz (~US$1,550/oz) and a gold processing recovery factor of 96%.
3.Underground Mineral Resource is reported at a cut-off grade of 2.60 g/t gold that is based on a gold price of CAD$2,000/oz (~US$1,550/oz) and a gold processing recovery factor of 97%.
4.Assays were variably capped on a wireframe-by-wireframe basis.
5.Specific gravity was applied using weighted averages to each individual wireframe.
6.Mineral Resource effective date February 7, 2021.
7.All figures are rounded to reflect the relative accuracy of the estimates and totals may not add correctly.
8.Excludes unclassified mineralization located within mined out areas.
9.Reported from within a mineralization envelope accounting for mineral continuity.

The Company has critically considered logistical matters given the ongoing COVID-19 pandemic, to ensure that this Drill Program and any other programs are executed in a way that ensures the absolute health and safety of our personnel, contractors, and the communities where we operate.

A Technical Report prepared in accordance with NI 43-101 for the Goldboro Gold Project will be filed on SEDAR (www.sedar.com) before March 31, 2021. Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Resource. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

The Mineral Resource estimate was independently prepared under the supervision of Mr. Glen Kuntz, P.Geo. (Ontario) of Nordmin Engineering Ltd., a "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Verification included a site visit to inspect drilling, logging, density measurement procedures and sampling procedures, and a review of the control sample results used to assess laboratory assay quality. In addition, a random selection of the drill hole database results was compared with original records.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

A version of this press release will be available in French on Anaconda's website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA
Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going Feasibility Study.

FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

FOR ADDITIONAL INFORMATION CONTACT:


Anaconda Mining Inc.
Kevin Bullock
President and CEO
[phone]
[e-mail]

Reseau ProMarket Inc.
Dany Cenac Robert
Investor Relations
[phone] x456
[e-mail]




Exhibit A. The location of the Goldboro Gold Project showing the Goldboro deposit and open pits that constrain the open pit portion of the Mineral Resource.



Exhibit B. A map and two cross sections showing the Mineral Resource as resource categories within and outside of the constrained open pits. The western cross section illustrates an example of the high priority Inferred Resources that will be drilled during the Drill Program with the aim of upgrading to Measured and Indicated Resources.

SOURCE: Anaconda Mining Inc.


View source version on accesswire.com:
https://www.accesswire.com/633108/Anaconda-Mining-Initiates-…

Quelle: https://www.anacondamining.com/prviewer/release_only/id/4645…

[IQ4U]

New Crux investor interview

[/youtube]

[IQ4U]

Chart nach dem gestrigen Handel in Toronto / Kanada:

[IQ4U]

Webinar mit Kevin BullockC EO

Webinar-Registrierung

Thema :PBA à Noon with Anaconda Mining

Beschreibung: Kevin Bullock President and CEO is back to update us on Anaconda Mining.

Anaconda Mining (TSX:ANX, SP ~$0.73) is a unique junior mining company with production and free cash flow, growth from development, and highly prospective exploration, and all in the top-tier jurisdiction of Atlantic Canada. It is well funded with ~C$15M on hand to execute its aggressive growth strategy and continues to generate free cash flow, minimizing dilution to shareholders.

The Company is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project with Measured and Indicated Mineral Resources of 1.9 million ounces (16.0 million tonnes at 3.78 g/t) and Inferred Mineral Resources of 0.8 million ounces (5.3 million tonnes at 4.68 g/t), and which is the subject to an ongoing feasibility study.

Anaconda also operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral property, including those adjacent to the past-producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project.

Zeit: 9.März.2021 12:00 PM in Montreal

Anmeldung zum Webinar:
https://us02web.zoom.us/webinar/register/WN_zkREKiitSzCGosln…

[IQ4U]

Bitte helft mit und schaut auch unter

https://www.canadianinsider.com/node/7?menu_tickersearch=anx

nach, um die Liste möglichst aktuell zu halten.

Wer hält wie viele Aktien und vor allem wie viele halten die Insider?

1,335,833 Kevin Bullock CEO
63,333 Mary-Lynn Ida Oke
1,006,504 Dustin Angelo former CEO
54,500 Michael Byron
510,000 Jonathan W. Fitzgerald
2,581,425 Lewis Lawrick
5,087,170 Jacques Lvesque
994,789 Robert Dufour
234,971 Gordana Slepcev
1,326,758 Backer Wealth Management, Inc.
1,073,000 US Global Investors, Inc. (Asset Management)
100,000 AIPM Azur International Portfolio Management

14,368,283 Shares at all (nur Insider)


160,000 DoumDiDoum 09.03.21 (stockhouse)
60,000 jim96 09.03.21 (stockhouse)
140,000 Ikar 08.03.21
720,000 IQ4U 08.03.21
170,000 Oldiebutgoldie 24.07.20
762 acts_1 23.07.20
65,000 GoldNHill 13.07.20 (stockhouse)
161,560 Hannes123 04.07.20 (stockhouse)
20,000 winedoc 30.06.20 (stockhouse)
10,000 weissnichtbescheid 18.05.20
40,000 Bonanaza 07.05.20 (stockhouse)
20,000 OM628 01.05.20
110,500 Aussie0203 01.05.20
331,000 thegoldenchild 28.04.20 (stockhouse)
330,000 gpsairgoldteam 27.04.20 (stockhouse)
154,000 JKTL 24.04.20 (stockhouse)
214,000 Villa Manya (stockhouse)
50,000 sledig 22.04.20 (stockhouse)
21,000 farky 22.04.20 (stockhouse)
38,853 JuMu30 22.04.20 (stockhouse)
500,000 Thunderbird_2 19.04.20
600,000 supideti 16.04.20
70,500 Aussie0203 24.09.19
68,400 mynameDDD 03.07.19 (stockhouse)
18,000 AngloSaxonMan 04.07.19 (stockhouse)
1,215.000 rpm111 09.07.19 (stockhouse)
2,962.000 Benji 2000 10.07.19 (stockhouse)

8,240,515 Gesamtzahl unserer Liste (ohne Insider)

Ich kann es nicht nachvollziehen, weshalb der Kurs noch nicht längst jenseits 1,00 CAD steht.

Viel Glück uns allen!
IQ

[IQ4U]

Handelsverlauf gestern in Kanada / Toronto:

[IQ4U]

Bitte helft mit und schaut auch unter

https://www.canadianinsider.com/node/7?menu_tickersearch=anx

nach, um die Liste möglichst aktuell zu halten.

Wer hält wie viele Aktien und vor allem wie viele halten die Insider?

1,335,833 Kevin Bullock CEO
63,333 Mary-Lynn Ida Oke
1,006,504 Dustin Angelo former CEO
54,500 Michael Byron
510,000 Jonathan W. Fitzgerald
2,581,425 Lewis Lawrick
5,087,170 Jacques Lvesque
994,789 Robert Dufour
234,971 Gordana Slepcev
1,326,758 Backer Wealth Management, Inc.
1,073,000 US Global Investors, Inc. (Asset Management)
100,000 AIPM Azur International Portfolio Management

14,368,283 Shares at all (nur Insider)


900,000 SgtFriday (stockhouse)
180,000 JKTL 09.03.21 (stockhouse)
240,000 sooner1 09.03.21 (stockhouse)
2,180.000 Benji 2000 09.03.21 (stockhouse)
17,000 Mestengo 09.03.21 (stockhouse)
260,000 breakspear 09.03.21 (stockhouse)
238,000 Villa Manya 09.03.21 (stockhouse)
160,000 DoumDiDoum 09.03.21 (stockhouse)
60,000 jim96 09.03.21 (stockhouse)
80,000 Oldiebutgoldie 24.07.20
140,000 Ikar 08.03.21
720,000 IQ4U 08.03.21
762 acts_1 23.07.20
65,000 GoldNHill 13.07.20 (stockhouse)
161,560 Hannes123 04.07.20 (stockhouse)
20,000 winedoc 30.06.20 (stockhouse)
10,000 weissnichtbescheid 18.05.20
40,000 Bonanaza 07.05.20 (stockhouse)
20,000 OM628 01.05.20
110,500 Aussie0203 01.05.20
331,000 thegoldenchild 28.04.20 (stockhouse)
330,000 gpsairgoldteam 27.04.20 (stockhouse)
50,000 sledig 22.04.20 (stockhouse)
21,000 farky 22.04.20 (stockhouse)
38,853 JuMu30 22.04.20 (stockhouse)
500,000 Thunderbird_2 19.04.20
600,000 supideti 16.04.20
70,500 Aussie0203 24.09.19
68,400 mynameDDD 03.07.19 (stockhouse)
18,000 AngloSaxonMan 04.07.19 (stockhouse)
1,215.000 rpm111 09.07.19 (stockhouse)

8,835,515 Gesamtzahl unserer Liste (ohne Insider)

Ich kann es nicht nachvollziehen, weshalb der Kurs noch nicht längst jenseits 1,00 CAD steht.

Viel Glück uns allen!
IQ

[IQ4U]

Aus dem Kanadischen Board:

DoumDiDoum

March 11, 2021 - 01:37 PM

Post# 32774104

Level 2 Update

Not looking good for a weekly close in the eighties. Unless someone grabs 100K at market price for an 80 cents average price before the close. We see that sometimes on Friday afternoons.

Using the 10 levels depth of Bids/Asks:
• 136 000 shares on the bid at an average price of 0.722
• 282 000 shares on the ask at an average price of 0.824
A difference on the average price of $0.102

Orders/Shares Buyers Sellers Shares/Orders
5 / 10 500 0,77 0,79 23 500 / 3
4 / 11 500 0,76 0,80 66 500 / 8
6 / 9 000 0,75 0,81 43 500 / 8
9 / 35 500 0,74 0,82 27 500 / 8
4 / 4 500 0,73 0,83 32 500 / 6
6 / 6 000 0,72 0,84 21 500 / 3
3 / 3 500 0,71 0,85 29 000 / 5
1 / 1 500 0,70 0,86 2 000 / 1
7 / 52 500 0,69 0,87 29 000 / 3
1 / 1 500 0,68 0,89 7 000 / 3


Quelle: https://stockhouse.com/companies/bullboard?symbol=t.anx&post…

[IQ4U]

Kevin Bullock kündigt das PEA für nächsten Monat an!

(Ab Minute 14...)

[/youtube]

[IQ4U]

Aktueller Goldchart:

[IQ4U]

Wirtschaftsweise Wieland warnt

„Inflationsraten von drei bis vier Prozent sind nicht undenkbar“

Interview von Christof Schürmann
12. März 2021

Quelle: https://www.wiwo.de/politik/konjunktur/wirtschaftsweise-wiel…

[IQ4U]

Sehr gutes Interview!

Hört mal rein ca. ab 7. bis 11. Minute:

1+1+1=5

Er hat selbst Merger Erfahrung und damals waren 3 Firmen beteiligt mit Aktienkursen von ca. 1 Dollar. Nach dem Merger stand der Kurs bei 14 Dollar.

By the way: Kennt jemand von Euch eine Goldmine welche ca. einen derzeitigen Kurs von 1 Dollar hat?

Pierre Lassonde: what gold bullion's decoupling with miners signals for price

Mar 08, 2021


https://www.kitco.com/news/video/show/BMO-Conference-2021/32…

[IQ4U]

Er spricht davon, dass wir uns in einer außergewöhnlichen Situation befinden. Die Goldproduzenten haben phantastische Margen seit letztem Jahr und auch jetzt immer noch!

in den nächsten 3 Monaten rechnet er mit zahlreichen Fusionen und Übernahmen.
Wenn sich benachbarte kleinere Goldproduzenten zusammenschließen, dann können eben solche Kursergebnisse entstehen wie:

1+1+1 = 5

Er hat in seinem Berufsleben bei 2 Fusionen mit jeweils 3 Firmen teilgenommen oder diese arrangiert.
Bei seinem besten Merger ergaben sich Aktienkurse von vorher zu nachher:

1+1+1 = 14 Dollar

In 2008 die Firma Metallica: (Open Pit Mine in Mexiko ohne Cash + Company mit Phantastischem Projekt aber ohne Cash + Company mit viel Cash aber ohne Projekt). Aus 3 Firmen um 1 Dollar Aktienkurs wurde eine neue Company um die 14 Dollar Aktienkurs.

Auf Anaconda übertragen sage ich wäre dies etwa 0,8 + 0,8 + 0,8 = 11,20 Dollar !!! (Nur meine bescheidene Meinung)...

[IQ4U]

Pierre Lassonde spricht auch davon, dass seiner Erfahrung nach der entscheidende Faktor für den Erfolg einer Goldmine der sei, zu welchem Preis die Unze Gold gefunden wird.
20-40 Dollar seinen In Ordnung für die Drillings pro Unze.

Im letzten Video spricht der CFO Robert Duffour davon, dass Anaconda sehr effizient drillt.
Die Kosten Bei Anaconda lägen bei den Drillings etwa bei 4,50 CAD pro Unze Gold !!!

Er sagt dies etwa bei 20. bis 22. Minute im Video:

Quelle:

[IQ4U]

Anaconda Mining Upsizes Previously Announced Flow-Through Private Placement Offering To Up to $8.5 Million

TORONTO, ON / ACCESSWIRE / April 30, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce that its previously announced flow-through private placement of flow-through common shares of the Company ("FT Shares") has been upsized by an additional $2,500,000, up to a total of $8,500,030 (the "Offering"). The Company has entered into an amended agreement with Raymond James Ltd. ("Raymond James") for the upsized Offering which will now offer up to 10,241,000 FT Shares at a price of $0.83 per FT Share. There will no longer be an option to place up to an additional 15% of the number of FT Shares purchased pursuant to the Offering. The FT Shares will be issued as "flow-through shares" with respect to "Canadian exploration expenses" within the meaning of the Income Tax Act (Canada). There can be no assurance as to whether or when the Offering may be completed, or as to the actual final size of the Offering. The Offering is expected to close on or about May 20, 2021, or such other date as agreed to between the Company and Raymond James.

The gross proceeds from the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Company's Projects. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective no later than December 31, 2021.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and any applicable securities regulatory authorities. All securities issued in connection with the Offering will be subject to a four-month and one day hold period in Canada.

It is anticipated that insiders of the Company may participate in the Offering. By virtue of their participation, the Offering would constitute a "related party transaction" under applicable securities laws. The Company expects to release a material change report including details with respect to the related party transaction less than 21 days prior to the closing of the Offering, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner. As the related party transaction will not exceed specified limits and will constitute a distribution of securities for cash, it is expected that neither a formal valuation nor minority shareholder approval will be required in connection with the Offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, U.S. Securities Act or under any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

ABOUT ANACONDA
Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the top-tier Canadian mining jurisdictions of Newfoundland and Nova Scotia. The Company is advancing the Goldboro Gold Project in Nova Scotia, a significant multi-million ounce growth project, which is subject to an ongoing feasibility study. Anaconda also operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral property, including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project...


Quelle: http://irdirect.net/prviewer/release_only/id/4710432

[IQ4U]

Anaconda Mining Intersects 4.99 g/t Gold over 4.0 Metres and 1.74 g/t Gold over 12.0 Metres at the Tilt Cove Project

TORONTO, ON / ACCESSWIRE / May 27, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX) (OTCQX:ANXGF) is pleased to announce the results of an additional 6,327.3 metres from an ongoing 10,000 metre diamond drill program ("Drill Program") at its Tilt Cove Gold Project ("Tilt Cove"), located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by road from the Company's Pine Cove Mill and long-term tailings facility. The Drill Program was designed to test several gold targets at East Pond, Betts Cove, West Pond and Growler, which were developed from previous exploration work completed in 2019 and 2020. The East Pond, West Pond and Growler targets are associated with two prospective iron formations, the Nugget Pond Horizon (which is host to the past-producing, high-grade, Nugget Pond Mine) and the adjacent, parallel Red Cliff Horizon (Exhibit A and B).

Gold mineralization was intersected at the East Pond and Betts Cove targets. At East Pond, drilling intersected significant mineralization associated with quartz veins within the Red Cliff Horizon. At Betts Cove, drilling intersected gold mineralization over a 100-metre strike associated with a past producing Betts Cove copper mine.

Highlights of the Drill Program to date include:

East Pond

4.99 grams per tonne ("g/t") gold over 4.0 metres (135.0 to 139.0 metres), including 17.40 g/t gold over 1.0 metre in diamond drill hole EP-21-09 along the Red Cliff Horizon.

Betts Cove

1.74 g/t g/t gold over 12.0 metres (89.0 to 100.0 metres), including 11.43 g/t gold over 1.0 metre in diamond drill hole BC-21-05;
1.01 g/t gold over 13.4 metres (62.2 to 75.6 metres), including 5.76 g/t gold over 1.0 metre in diamond drill hole BC-21-07;
1.33 g/t gold over 4.5 metres (112.0 to 116.5 metres) in diamond drill hole BC-21-03; and
2.60 g/t gold over 3.9 metres (86.0 to 89.9 metres) and 11.90 over 1.0 metre (122.0 to 123.0 metres) in diamond drill hole BC-21-06.

Selected intersections from the Drill Program at the Tilt Cove Project are shown in Tables 1 and 2 below.

"The most recent drill results at East Pond and Betts Cove demonstrate that Tilt Cove has the potential to host high-grade gold mineralization that is related to both orogenic and gold rich-massive sulphide mineralizing styles. We are pleased to see high-grade quartz-sulphide veins at East Pond and broader zones of disseminated gold mineralization at Betts Cove. The mineralization at East Pond is of particular significance as it is hosted within the Red Cliff Horizon, an iron formation that sits adjacent and parallel to the Nugget Pond Horizon and is similar in style to the past producing Nugget Pond Mine. Follow up work on the East Pond drilling is being planned and we continue to identify other drill targets at Tilt Cove, including within our expanded land package to the southwest. Our goal at the Tilt Cove Project continues to be the discovery of a high-grade deposit which can leverage Anaconda's operating mill and tailings facilities at Point Rousse."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Drill Program and Target Areas Overview
The Drill Program to date comprised 6,327.3 metres in 31 diamond drill holes as further detailed below. The Drill Program was designed to test several gold targets at East Pond, Betts Cove, West Pond and Growler, along the strike extent of the Betts Cove Complex and Nugget Pond Horizon, based on exploration work completed in 2019 and 2020.

East Pond Target (Exhibit B) - East Pond is characterized by an 800-metre-long strike coincident with a reduction in magnetic intensity associated with the Nugget Pond Horizon and cross cutting lineaments. The target also includes historic drilling, which intersected footwall mineralization analogous to the Nugget Pond Mine including 5.74 g/t gold over 0.5 metres (RCP-97-01), 10.30 g/t gold over 0.5 metres (RCP-97-02), 1.16 g/t gold over 3.4 metres (RCP-97-02), and 4.90 g/t gold over 0.5 metres (RCP-98-01). The company has reviewed available drill core from historic drilling but was not able to verify the historic drill results. The results should not be relied upon.

A total of 1,899.8 metres in 9 drill holes diamond drill holes (EP-20-05, EP-21-06 to -13) tested two target areas at East Pond; the Nugget Pond Horizon and the Red Cliff Horizon. A zone of quartz-sulfide veining hosted in the Red Cliff Horizon to the north of the Nugget Pond Horizon intersected in holes RCP-97-01, 02 and RCP-98-01.

Follow-up drill testing of the Red Cliff Horizon in drill holes EP-21-06, -07, -09, and -12 intersected quartz sulphide veins hosted within a thick sequence of iron formation and variably magnetic pillow basalt and interflow sediments similar to that from adjacent historic drill holes.

Highlighted assays include:

4.99 g/t gold over 4.0 metres (135.0 to 139.0 metres), including 17.40 g/t gold over 1.0 metre in diamond drill hole EP-21-09;
3.11 g/t gold over 0.5 metres (102.4 to 102.9 metres) in diamond drill hole EP-21-09; and
3.97 g/t gold over 0.5 metres (70.0 to 70.5 metres) in diamond drill hole EP-21-12.

Testing along the Nugget Pond Horizon at East Pond in drill holes EP-20-05 and EP-21-08, -10, -11, and -13, intersected the Nugget Pond Horizon but did not return any significant gold mineralization.

Anaconda plans to follow up on this particular target with further mapping and developing a follow up drill program.

Betts Cove Target (Exhibit C) - At the Betts Cove Mine disseminated to massive pyrite and chalcopyrite +/- gold mineralization is hosted at the contact between gabbroic sills and pillow basalts, particularly within a chlorite schist unit that may represent a sheared alteration zone, which is a similar setting to the Tilt Cove Mine 20 kilometres to the northeast along strike. Historic drilling at the Betts Cove Mine has returned significant gold intercepts that include: 4.48 g/t gold over 4.0 metres (from 52.0 to 56.0 metres, including 11.20 g/t gold over 1.1 metres in hole BC-89-01); 6.77 g/t gold over 5.0 metres (from 63.1 to 68.1 metres) in hole BC-89-02; 1.87 g/t gold over 13.0 metres (from 63.5 to 76.5 metres, including 7.50 g/t gold over 0.5 metres) and 8.82 g/t gold over 1.0 metre in hole NBC-96-01; and 4.59 g/t gold over 1.5 metres (from 63.5 to 65.0 metres) in hole NBC-96-02. The Company has reviewed available drill core from historic drilling but was not able to verify the historic drill results. The results should not be relied upon.

A total of 1,672.5 metres in 10 diamond drill holes (BC-21-01 to -10) were drilled to follow-up on gold and copper mineralization intersected in historic drilling around the former producing Betts Cove Mine. All drill holes intersected variably chlorite altered volcanic rocks that form a cohesive alteration halo associated with the Betts Cove VMS Deposit and returned significant gold and copper intersects that confirm the results of previous drilling. Gold and copper mineralization are generally hosted in separate zones that occasionally overlap.

Highlighted gold intervals from Betts Cove include:

1.74 g/t g/t gold over 12.0 metres (89.0 to 100.0 metres), including 11.43 g/t gold over 1.0 metre in diamond drill hole BC-21-05;
1.01 g/t gold over 13.4 metres (62.2 to 75.6 metres), including 5.76 g/t gold over 1.0 metre in diamond drill hole BC-21-07;
1.33 g/t gold over 4.5 metres (112.0 to 116.5 metres) in diamond drill hole BC-21-03; and
2.60 g/t gold over 3.9 metres (86.0 to 89.9 metres) and 11.90 over 1.0 metre (122.0 to 123.0 metres) in diamond drill hole BC-21-06.

Highlighted copper intervals from Betts Cove include:

0.46% copper over 35.0 metres (137.0 to 172.0 metres), including 1.06% copper over 4.0 metres and 3.38% copper over 0.5 metres in diamond drill hole BC-21-09;
0.33% copper over 42.6 metres (90.4 to 133.0 metres), including 0.49% copper over 7.6 metres in diamond drill hole BC-21-08;
0.46% copper over 26.5 metres (131.0 to 157.5 metres), including 2.45% copper over 1.0 metre in diamond drill hole BC-21-04; and
0.77% copper over 5.8 metres (96.7 to 102.5 metres), including 3.38% copper over 0.5 metres in diamond drill hole BC-21-09.

Anaconda plans to follow up the Betts Cove drilling with a prospecting and mapping program to better understand the geometry of mineralization and determine if further drilling is warranted.

West Pond Target (Exhibit B) - This target is characterized by a 1.3-kilometre-long zone beneath West Pond that is up-ice from a very strong gold-in-soil anomaly very similar in character and dimension to the gold-in-soil anomaly associated with the discovery of the high-grade Nugget Pond Deposit as well as a coincident break in magnetic intensity where a north-easterly trending lineament intersects the Nugget Pond Horizon.

A total of 1,621 metres in 5 diamond drillholes (WP-21-07 to -11) tested a section of the Nugget Pond Horizon beneath the west and east sides of West Pond where quartz veins and associated disseminated pyrite outcrop. Drilling successfully intersected the Nugget Pond Horizon sediments but contained no significant assays. Anaconda plans to follow up on this particular target in the winter months if the ice thickness permits safe drilling from the ice.

Growler Target (Exhibit D) - The Growler Target is a target with a strike of 2 kilometres underlain by the Nugget Pond Horizon and associated with two large adjacent shear zones. The Growler Target also includes recently discovered surface mineralization including channel samples that include 2.75 g/t gold over 5.2 metres and 1.78 g/t gold over 5.0 metres, in addition to chip samples at the Betts Big Pond showing that include 8.19 g/t gold over 2.3 metres.

A total of 1,134 metres in 7 diamond drillholes (GR-21-06 to -12) tested the Growler and Betts Big Pond showing and IP anomalies on the Growler grid. Minor quartz veining with trace to 1% pyrite within a zone of thin alteration was intersected down-dip of the Betts Big Pond showing. No significant assays were obtained. Anaconda does not plan on any further follow up work on Growler....

Quelle: http://irdirect.net/prviewer/release_only/id/4742480

[IQ4U]

Anaconda Mining Commences 20,000 metre Drill Program and Geophysical Survey at the Goldboro Gold Project

TORONTO, ON / ACCESSWIRE / June 3, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce it has commenced a 20,000 metre diamond drill program (the "Drill Program") at its wholly-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The Drill Program, which is in addition to the 3,500-metre drill program announced in March 2021, will be primarily focused on infill drilling designed to convert priority Inferred Mineral Resources within and adjacent to the constrained open pits, into Indicated Mineral Resources to support the ongoing Feasibility Study. The constrained open pits were designed using only Measured and Indicated Resources (Exhibit A), which, in the process, captured a portion of Inferred Resources within the open pits. Additionally, there are under-drilled areas adjacent to the constraining open pits that, if converted to Indicated Mineral Resources, could further increase the open-pit mineral resource.

The Company will also conduct a 50-line kilometer Induced Polarization ("IP") geophysical survey over the area west of the Goldboro Deposit for approximately one kilometre up to the past producing Dolliver Mountain gold mine (Exhibit B). There is significant opportunity to further expand the mineral resource and the IP geophysical survey will assist in identifying such continuation to the west as well as any potential parallel zones north and south of the currently known extents of the deposit.

Highlights of the Goldboro Mineral Resource include:

Overall, 1,946,100 ounces of gold (16,036,000 million tonnes at an average grade of 3.78 grams per tonne ("g/t") within the combined open pit and underground, Measured and Indicated Mineral Resource categories;
Overall, 798,100 ounces of gold (5,306,000 tonnes at 4.68 g/t gold) within the combined open pit and underground, Inferred Mineral Resource category;
1,089,900 ounces of gold (11,880,000 tonnes at 2.86 g/t gold) within two constrained open pits within the Measured and Indicated Mineral Resource categories (Exhibit A); and
89,000 ounces of gold (1,580,000 tonnes at 1.75 g/t gold) in two constrained open pits within the Inferred Mineral Resource category.

"We have identified significant opportunities to optimize the Goldboro Gold Project to increase the overall economics of the Project based on the existing expanded mineral resource, as well as the potential for further discovery and expansion to the west along strike towards the past producing Dolliver Mountain gold mine. Following the recently announced $8.5 million flow-through financing, the Company is well positioned to advance its growth strategy at Goldboro and take advantage of these opportunities. The Drill Program and the IP Geophysical survey have the potential to directly impact the Project's economics and key economic metrics, as well as demonstrating the possibility of the mine life extending beyond the framework of the ongoing Feasibility Study. With the results of the Preliminary Economic Assessment for the Project anticipated by the end of Q2 2021, we believe the planned exploration program is well timed."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc.

Infill Drill Program and Conversion of Inferred Mineral Resources

The Drill Program, which is fully-funded, will mainly be focused on infill drilling with the constrained open pits with the aim of upgrading 89,000 ounces of gold (1,580,000 tonnes at a grade of 1.75 g/t) of Inferred Mineral Resources to Indicated Mineral Resources. The Infill Drill Program adjacent to, but outside of the eastern most constraining pit is designed to upgrade 59,000 ounces of gold (589,000 tonnes at a grade of 3.14 g/t). Based on conversion rates observed to date, the Company believes this infill drilling has the potential to add significant value by increasing and upgrading current Mineral Resources, which will form the basis of the Feasibility Study to be released in Q4 2021...

Quelle: http://irdirect.net/prviewer/release_only/id/4749687

[IQ4U]

Anaconda Mining Intersects 9.47 G/T Gold Over 10.0 Metres and 2.75 G/T Gold Over 11.5 Metres From Infill Drilling at Goldboro

Wed, June 9, 2021, 1:00 PM·9 min read

TORONTO, ON / ACCESSWIRE / June 9, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX)(OTCQX:ANXGF) is pleased to announce the results of a diamond drill program ("Infill Drill Program") conducted at the Company's 100%-owned Goldboro Gold Project ("Goldboro", or the "Project") in Nova Scotia, as well as the results of a drill program completed at the nearby Lower Seal Harbour Property in the winter of 2021. The Goldboro Infill Drill Program was initiated following the significantly expanded Mineral Resource Estimate ("Mineral Resource") announced on February 22, 2021, consisting of 32 holes and 3,321.5 metres (BR-21-225 to -256). The aim of the program was the conversion of Inferred Resources within the western constrained open pit outlined in the updated Mineral Resource (Exhibit A).

Selected composited highlights (core length) from the Infill Drill Program include:

9.47 grams per tonne ("g/t") gold over 10.0 metres (59.0 to 69.0 metres) including 6.66 g/t gold over 1.5 metres, 124.50 g/t gold over 0.5 metres and including 24.0 g/t gold over 0.5 metres in hole BR-21-252;

2.76 g/t gold over 11.5 metres (48.5 to 60.0 metres) including 10.50 g/t gold over 0.5 metres in hole BR-21-246;

5.21 g/t gold over 5.5 metres (47.5 to 53.0 metres) including 43.80 g/t gold over 0.5 metres in hole BR-21-239;

2.49 g/t gold over 7.0 metres (97.0 to 104.0 metres) including 21.40 g/t gold over 0.5 metres in hole BR-21-254;

2.06 g/t gold over 8.0 metres (26.0 to 34.0 metres) including 8.57 g/t gold over 1.0 metre in hole BR-21-245; and

1.12 g/t gold over 7.0 metres (20.0 to 27.0 metres) including 3.49 g/t gold over 1.0 metre in hole BR-21-233.

The Infill Drill Program aimed to upgrade certain Inferred Resources within the western constrained open pit into the Measured and Indicated categories to support the ongoing Feasibility Study, targeting approximately 27,400 ounces (418,000 tonnes at a grade of 2.04 g/t gold). The results of the Infill Drill Program within the deposit have confirmed the geological model, and drilling near the margins of the constrained pit in previously under-drilled areas outside of the main deposit demonstrate potential for additional resources near the margins of the western open pit.

"Following the recently announced significant increase to the Goldboro Mineral Resource and the related positive metallurgical recoveries, we initiated a round of shallow infill drilling focused on upgrading Inferred Resources to Measured and Indicated with the aim of incorporating them into the ongoing Feasibility Study. The drill results within shallow areas of the deposit validate the existing model and drilling near the margins of the constrained open pits demonstrate the potential to add ounces to the in-pit resources, potentially reducing the strip ratio within open pits contemplated in the Feasibility Study. Further opportunities to upgrade and increase Mineral Resources have been recognized and with the recent $8.5 million financing we are in an excellent position to act on these opportunities as we finalize the Preliminary Economic Assessment and continue with our ongoing Feasibility Study."

~ Kevin Bullock, President and CEO, Anaconda Mining Inc

Lower Seal Harbour Program
In January 2021, the Company announced that it had initiated a seven (7) hole (LSH-20-001 to 007) diamond drill program of 1,046.7 metres at the past producing Lower Seal Harbour property, located 1.6 kilometres southeast of Goldboro (Exhibit B). Lower Seal Harbour is subject to an option agreement entered into by the Company to acquire 100% of the property from a third-party. This drill program focused on testing known gold mineralization hosted on the north limb of an anticlinal structure that is parallel to a similar anticlinal structure that hosts the Goldboro Deposit, separated by approximately three (3) kilometres. The program included the twinning of two historic drill holes to confirm high-grade intersections and to sample adjacent wall rock for low-grade mineralization, and testing whether the anticlinal structure immediately south of historical mining activity contains gold mineralization at shallow levels, particularly within the hinge zone. The Company also tested two geophysical (IP chargeability anomalies) that have not been previously tested.

Highlights from the Lower Seal Harbour Program include:

2.36 g/t gold over 2.5 metres (254.0 to 256.5 metres), 1.80 g/t gold over 0.7 metres (202.3 to 203.0 metres) and 1.54 g/t gold over 0.5 metres (261.0 to 261.5 metres) in hole LSH-20-002;

0.66 g/t gold over 1.0 metre (79.0 to 80.0 metres) and 1.16 g/t gold over 0.5 metres (134.0 to 134.5 metres) in hole LSH-20-005;

Intersection of mineralized quartz veins with minimal wall rock alteration and mineralization.

Intersection of an IP chargeability anomalies that were caused by the presence of formational pyrite without significant alteration or gold mineralization.

No further work on the Lower Seal Harbour Property is planned at this time as the focus remains on the potential expansion of Goldboro, however the Company may plan further exploration activities in the future...

Quelle: https://finance.yahoo.com/news/anaconda-mining-intersects-9-…

[CloudMOD [Mod]]

Guten Tag,

für eine aktuelle Diskussion ist der Thread wieder geöffnet.

Freundliche Grüße CloudMOD

[IQ4U]

Antwort auf Beitrag Nr.: 75.557.875 von CloudMOD am 03.04.24 14:35:48

Vielen herzlichen Dank!!!

[IQ4U]

Antwort auf Beitrag Nr.: 75.557.875 von CloudMOD am 03.04.24 14:35:48

Handelsverlauf gestern in Kanada:

[IQ4U]

Aus dem Kanadischen Board:

Comment by GoldNHillon Mar 25, 2024 2:05pm
Post# 35951216

RE:The possible problem that I see

Yes it will cost more Shiftyone...with a new resource estimate they can easily compensate for the higher cost to develope the mine which you almost doubled to 500 million when the fesibility study a couple years old said 271 million...so ya 400 max not 500 million and they will have that difference made up with new ounces in an updated resouce estimate (not even adjusting for the price of gold here)...so still very robust!

This is an underground mine Siftyone...the pits are just scraping the surface...anyone taking a look at this will see that. The recent numbers to the west may or may not be pitable, but they are minable and add 1.1kms of strike length to the resouce...FANTASTIC says someone who has actually participated in mining narrow, gold-rich quartz veins in Nova Scotia - they just added to the strike length of the deposit...ya not the wide numbers from the pit...BUT MINEABLE ECONOMIC NUMBERS...so far from disappointing as you call them as you don't have the experience to say so.

They can probably add a shallow pit west of the West pit to pick up the decent grades/widths that are under the West pit and plunge up to surface westward....then go after the underground highgrade ounces for MANY MANY YEARS!

Expansion has basically been defined now (on this historically mined property)...Dolliver Mountain to the East of the East pit and down down down....who knows how deep. The longitudinal section they presented with the last drill results presents the full picture of the deposit to the trained eye.

They have recently expanded their gold claims to a pretty big area...I know a lot about the areas they have picked up to the north...they have pending VLF data coming to help them narrow down some possible targets and have probably compiled a lot of data to define where they may drill on these new claims - I will leave it there for now...

I feel they will come out of this on the positive side as the upside that Goldboro presents is basically generational...Big Boys want long term ounces...Goldboro can provide that with 11 years of pitting high-grade and decades of underground to unknown depths.
Signal and Anaconda never had the cash that the likes of New Found Gold had to drill countless holes to really see how big this deposit is...and theirs is still expanding along strike and at depth. Bring on a Big Boy and start mining as permitted and drilling deep to REALLY SEE what they have and how deep...poke a few deep holes to a 1,000 meters and see what you have...more of the same at depth is what their longitudinal section is showing...people in the know will see that!

Bring on a deal for the shareholders Kevin n Rob

Link: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Aus dem Kanadischen Board:

Comment by Lotharon Mar 25, 2024 3:22pm
Post# 35951381

RE:The possible problem that I see

I think a $100M buyout net of the debt is a reasonable scenario. Once (if) all the permits are granted, Goldboro will be attractive as a turnkey operation that can be developed 'quickly' and 'cheaply.' There is a good probability of these approvals being granted coincident with an accelerating bull market in gold, juniors and M&A that is just beginning now.

Of course costs are higher now than those outlined in the FS but gold has outpaced inflation since then (right now spot gold trades at base case +97%). This is still one of the lowest capital cost gold projects to develop in the world. Drilling did appear to limit upside around Dolliver. Results were however consistent with the in-pit resource (1k oz/linear meter of trend) up to 600m west of the current pit outline (potentially adding ~500k oz of in-pit resource). The gas pipeline would need to be addressed to access this resource (if it is still active, pardon my ignorance about this and I would very much appreciate clarification) but could probably be rerouted for ~$20M. Underground resources don't add much current value but a suitor wouldn't be able to entirely ignore their future potential with infrastructure in place from the surface operation. The same goes for potential satellite resources that could be discovered and incorporated into a hub and spoke operation.

Jurisdiction also appears favourable with respect to climate, infrastructure and importantly, politics. The usual Canadian NIMBYism isn't strong here with local rural Nova Scotian support as well as a Conservative majority in Provincial parliament. Odds are there will also be a Conservative federal majority (and no CBC!)in 18 months (or sooner). Most significantly the ubiquitous Canadian FN diplomatic quagmire is absent in this area. Opposition to this project would be limited to some vocal urban environmentalists in Halifax with short attention spans.

On a macro level I see support for gold prices going forward. Western governments are accelerating into a debt spiral and gold production is decreasing with a deficit of new projects coming online. The gold junior market remains out of favour in spite of an increasing gold price but there are signs of life with some of the more attractive companies (not Signal!) having been bid up this month. As attention returns to the market investor money will flow to the more marginal projects. As M&A heats up scrappy mid-tier producers with an eye for leverage and opportunity (that can accessed quick and cheap) will turn their attention to Signal. Potential suitors like Artemis or Calibre come to mind. This won't happen overnight so for now we hopefully minimize costs and do our best to manage debt while we wait for permits to roll in. I see value here.
-L

Link: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Signal Gold considers sale

Link: https://www.pentictonherald.ca/spare_news/article_32611d11-2…

[IQ4U]

Post by DoumDiDoumon Apr 01, 2024 10:31am
Post# 35962724

Is it a surprise?

Signal Gold: Top 25 Undervalued Toronto Stock Exchange Stocks

https://www.barchart.com/story/news/25164752/signal-gold-top…

[IQ4U]

Handelsverlauf gestern an der Heimatbörse in Toronto:

[IQ4U]

Gold wieder mit neuem ATH 2,302 USD

[IQ4U]

Fugmann kommt jetzt auch auf Gold zu sprechen:

[IQ4U]

Bid/Ask in Toronto:

https://www.stockwatch.com/Quote/Detail.aspx?C:SGNL

[IQ4U]

Signal Mitteilung:

https://twitter.com/SignalGold_SGNL/status/17758595499556622…

[IQ4U]

Aus dem Kanadischen Board:

Post by longagau2on Apr 04, 2024 10:08am
Post# 35970186

Twitter post from sgnl

https://twitter.com/SignalGold_SGNL/status/17758595499556622…

Quelle: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Aus dem Kanadischen Board:

Comment by Rogg47on Apr 04, 2024 11:22am

Post# 35970457
RE:Twitter post from sgnl

longagau2 wrote:
https://twitter.com/SignalGold_SGNL/status/17758595499556622…

Could be the explanation of the higher volume since last week!!....

[IQ4U]

Toronto über 5 Tage:

[IQ4U]

Gold wird weltweit gesucht und gekauft.

https://kingworldnews.com/gold-remains-above-2300-silver-27-…

[IQ4U]

So eine Meldung war in der Vergangenheit nicht gut für Gold aber es spiegelt das Dilemma wieder in dem sich die FED befindet.
Allerdings ist die zu tragende Zinslast bereits immens für die hochverschuldeten USA.
Wahnsinn diese Goldpreisentwicklung...

Fed-Mitglied schockt Anleger: Möglicherweise keine Zinssenkung 2024
05.04.24 08:13 Uhr
Keine Zinssenkungen in 2024? Fed-Mitglied schockt die Märkte | finanzen.net

Quelle: https://www.finanzen.net/nachricht/zinsen/zinspolitik-fed-mi…

[IQ4U]

Goldpreis-Anstieg sorgt für Rätsel
Stand: 04.04.2024 13:50 Uhr

...Der Goldpreis setzt seine Rekordjagd ungebremst fort. Das gelbe Edelmetall ist so teuer wie nie. In der vergangenen Nacht zog der Goldpreis zeitweise bis auf 2.304,95 Dollar je Feinunze an und stellte damit eine neue Bestmarke auf - es war das fünfte Rekordhoch in Folge. Heute Vormittag hielt sich Gold bei etwa 2.294 Dollar, ehe es am Mittag leicht ins Minus rutschte...

Quelle: https://www.tagesschau.de/wirtschaft/finanzen/gold-preis-rek…

[IQ4U]

Mit solchen Aussagen und vor allem Handlungen wird der Goldpreis dann auch nicht unbedingt fallen:

Stoltenberg: "Ukraine wird NATO-Mitglied werden"

Quelle: https://www.puls24.at/news/politik/stoltenberg-ukraine-wird-…

[IQ4U]

Aus dem Kanadischen Board:

Comment by GoldNHillon Apr 04, 2024 4:35pm
Post# 35971318

RE:It will be very interesting what they sell..

Everything is on the table...selling Goldboro is one possibility...they may do a JV or royalty deal...and ya they may sell the whole thing or parts of it...all depends who is at the table...lots of options here to consider...lots of buying going on...that is for sure...not a lot left at 11 cents....hopefully they find a good favorable option for the shareholders. Gold price is for sure supportive.

Fingers Crossed for a positive outcome for all...would love to know who they are talking to at present.

Quelle: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Handelsverlauf gestern in Kanada an der Heimatbörse:

[IQ4U]

Handelsverlauf in Toronto über die letzten 5 Tage:

[IQ4U]

Handelsverlauf in Kanada am letzten Freitag:

[IQ4U]

Goldpreis über 6 Monate:

[IQ4U]

Versuche die Hintergründe der aktuellen Goldrally besser zu verstehen...

Is gold becoming a global battlefield? BRICS looks to bullion to challenge dollar dominance

Quelle: https://www.kitco.com/news/article/2024-04-04/gold-becoming-…

[IQ4U]

Die nächsten Breakout-Charts in Gold & Silber
02.04.2024 | Jordan Roy-Byrne

Quelle: https://www.goldseiten.de/artikel/613610--Die-naechsten-Brea…

[IQ4U]

:
rolleyes:

[IQ4U]

Aus dem kanadischen Board:

Comment by GoldNHillon Apr 07, 2024 5:31pm
Post# 35975827

RE:There are many ways to look at this...

Shifty shifting stories around again...for what benefit?

To start with this comment..."drilling program last year did not show any areas that in my opinion are worth exploring further"

Well if you ever took the time to determine if something is worth exploring further...do a quick calulation on this drill result from the Dolliver Mountain area (see last drill result PR) where you say are not worth exploring. I beg to differ...highly uneducated opion IMHO. Keep to the facts Shifty

just one economic drill result from the Dolliver Mountain area - 76.31g/t over 0.5 meters can generate a lot of gold...I will break it down for ya

25,44 g/t over 1.5 meters X 1100 strike length of the vein X 20 meters high X 2.8 specific gravity of a meter cubed of rock = 2,350,348 grams of gold / 31.1 grams in an ounce = 75,573.89 ounces of gold 3166.47 CDN$ = $239,302,457.60 total value of the 1 quartz vein - NOT worth exploring Shifty - lets leave a quarter-billion dollars of gold in the ground in that one vein??? Pardon??

Then this great comment "They did acquire some new property rights to the north of Goldboro, that may potentially show some expansion potential" (Yes True Shifty - GHill).

"The last drill program drilled north of goldboro and the results came up with nil gold in the hole."
This is NOT true Shifty...they have NOT drilled north of goldboro as yet. They have only drilled east and west along strike of the historic Boston Richardson mine...they have not yet drilled on their new claims to the north or south...BUT STAY TUNED! I have drilled north of Goldboro and all the holes I have drilled have come up with nil gold in the hole to date...I have not given up yet!

Another interesting comment by Shifty
"drill program shows there is not much room for expanding the 2 open pits."
Have you seen where they drilled the last holes near the west side of the west pit...do you remember what the grades and widths were? You should go back and take a look and perhaps revise the statement above. The company simply has not updated the resource for the pits....anyone can see if you review the last bunch of press releases...they have some good numbers west of Pit 2 that can expand the west pit or result in a shallow Pit 3 west of Pit 2...not sure what your motive with this statement would be.

I think this is the best one...
"By the time they pay the initial investment off , it will take about 8 years. "
Shifter...Ha Ha Ha...Seriously???
The origional definded fesibility study indicated 2.9 year payback...ok add a year with added costs to build (which is offset grosely by the added resources not yet included in any updated resource estimate, so back down to 3.5 years - VERY Conserevatively) and the price of gold just a bit higher than the number used to calculate the 2.9 years which was $1600 USD).
So you just pulled 8 year payback out of your hat...NICE ONE!

You say you are not a shareholder...so why all the posting, if you have no interest any more...you said you sold and now it is too expensive...so move along???

Very puzzling what your motive is here to post invalid - untruthful statements and it is not just in one post...DDD was calling you out time after time and getting tired of it. Trying to mislead folks so they sell and you and a few friends can penny flip and make a couple hundred bucks a day? Good luck with whatever is driving you Shifty. Remember it is the market that will determine the value of the Signal Gold stock...not some posts on a stock blog.

I really hope we see strong continued buying from those that understand just how undervaluded this stock is...Let's bring the right folks to the table Kevin, Rob n Paul...best of luck!

Quelle: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Signal Gold: Top 25 Undervalued Toronto Stock Exchange Stocks (SGNL)

Globe Investor - Sun Mar 31, 8:26AM CDT

Quelle: https://www.barchart.com/story/news/25164752/signal-gold-top…

[IQ4U]

Handelsverlauf gestern in Kanada:

[IQ4U]

Aus dem kanadischen Board:

Post by 160kon Apr 09, 2024 2:58am
Post# 35978224

Over 3 million traded Monday?

The official closing volume was: 2m,162,397 on the TSX (No ATS).

Thank you GoldNHill for your reasoned, sensible and expert input. I am sick of all of the bullsht and negativity on this board and NO there isn't going to be a bankruptcy! Friends, you might want to read my post of March 12,24 @ 5:43P.M., a post which Shityone dismissed as ill-informed. Notice that a few days later, SGNL announced having enlisted BMO CAPITAL MARKETS. You will note that I sat down with a Rep. from BMO also....a coincidence? And by the way, Rob McEwen is a true maven. He saw this price rise in gold coming ages ago.

If you have nothing intelligent to say, then stick it..you know where. Thank you again GoldNHill.

Quelle: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Aus dem kanadischen Board:

Comment by GoldNHillon Apr 07, 2024 6:54pm
Post# 35975899
RE:RE:RE:There are many ways to look at this...
Once again you DO NOT KNOW WHAT YOU ARE TALKING ABOUT SHIFTY.

You just said "They did drill north of the known pits as I stated. Several holes. Br 23-433, 439, 430, 431,427,402.... they are all north of the known pits, and none of them showed anything close to economic reserves.

These holes are ALL drilled west of the west pit right on the anticline at Dolliver Mountain...West side of the historic Boston Richardson claim block.
hole 23-433 had one intersection of 3 meters grading 1.3 g/t with VG noted. (economic intersection)
Hole 23-439 had one intersection of .6meters grading 12.66g/t (economic intersection)

I will leave that there...more incorrect statements...what are you up to Shifty...non stop posting of misleading statements...not impressed.

regarding your question... "So I am questioning your dimensions of 1100 m and 20 m. Where did you come up with those numbers?"
From several years of experience working underground in two gold mines in Nova Scotia including Goldboro for two years were I have planned, drilled and logged kilometers of core and have done countless grade calulations to determine economics of development headings.

In Nova Scotia the gold in the quartz veins does not present itself everywhere one sees the same quartz vein...the gold tends to presipitate out of the silica solution within sections of the quartz vein where the right temp and pressure conditons present themselves. After seeing many cases, gold generally presipitates out of solution in a localized part of the quartz vein and that part of the vein where the gold is present tends to be about 20 meters high...higher in many cases. 1100 meters as that is the strike length of the newly added portion of the west section of the claim block by Dolliver Mountain. The longitudinal section that Signal presented in a recent drill results PR, shows how consistent and continuous along strike the quartz belts are at Goldboro...I used 1100meters, I could have potentially used 3700m the full stike length of this deposit.

Stick to the facts Shifter...stop misleading...

Thanks and good luck with any investments you might have

Quelle: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Aus dem kanadischen Board:

Comment by GoldNHillon Apr 07, 2024 5:31pm
Post# 35975827
RE:There are many ways to look at this...
Shifty shifting stories around again...for what benefit?

To start with this comment..."drilling program last year did not show any areas that in my opinion are worth exploring further"

Well if you ever took the time to determine if something is worth exploring further...do a quick calulation on this drill result from the Dolliver Mountain area (see last drill result PR) where you say are not worth exploring. I beg to differ...highly uneducated opion IMHO. Keep to the facts Shifty

just one economic drill result from the Dolliver Mountain area - 76.31g/t over 0.5 meters can generate a lot of gold...I will break it down for ya

25,44 g/t over 1.5 meters X 1100 strike length of the vein X 20 meters high X 2.8 specific gravity of a meter cubed of rock = 2,350,348 grams of gold / 31.1 grams in an ounce = 75,573.89 ounces of gold 3166.47 CDN$ = $239,302,457.60 total value of the 1 quartz vein - NOT worth exploring Shifty - lets leave a quarter-billion dollars of gold in the ground in that one vein??? Pardon??

Then this great comment "They did acquire some new property rights to the north of Goldboro, that may potentially show some expansion potential" (Yes True Shifty - GHill).

"The last drill program drilled north of goldboro and the results came up with nil gold in the hole."
This is NOT true Shifty...they have NOT drilled north of goldboro as yet. They have only drilled east and west along strike of the historic Boston Richardson mine...they have not yet drilled on their new claims to the north or south...BUT STAY TUNED! I have drilled north of Goldboro and all the holes I have drilled have come up with nil gold in the hole to date...I have not given up yet!

Another interesting comment by Shifty
"drill program shows there is not much room for expanding the 2 open pits."
Have you seen where they drilled the last holes near the west side of the west pit...do you remember what the grades and widths were? You should go back and take a look and perhaps revise the statement above. The company simply has not updated the resource for the pits....anyone can see if you review the last bunch of press releases...they have some good numbers west of Pit 2 that can expand the west pit or result in a shallow Pit 3 west of Pit 2...not sure what your motive with this statement would be.

I think this is the best one...
"By the time they pay the initial investment off , it will take about 8 years. "
Shifter...Ha Ha Ha...Seriously???
The origional definded fesibility study indicated 2.9 year payback...ok add a year with added costs to build (which is offset grosely by the added resources not yet included in any updated resource estimate, so back down to 3.5 years - VERY Conserevatively) and the price of gold just a bit higher than the number used to calculate the 2.9 years which was $1600 USD).
So you just pulled 8 year payback out of your hat...NICE ONE!

You say you are not a shareholder...so why all the posting, if you have no interest any more...you said you sold and now it is too expensive...so move along???

Very puzzling what your motive is here to post invalid - untruthful statements and it is not just in one post...DDD was calling you out time after time and getting tired of it. Trying to mislead folks so they sell and you and a few friends can penny flip and make a couple hundred bucks a day? Good luck with whatever is driving you Shifty. Remember it is the market that will determine the value of the Signal Gold stock...not some posts on a stock blog.

I really hope we see strong continued buying from those that understand just how undervaluded this stock is...Let's bring the right folks to the table Kevin, Rob n Paul...best of luck!

Quelle: https://stockhouse.com/companies/bullboard/t.sgnl/signal-gol…

[IQ4U]

Aus dem WO Forum:



Quelle: https://www.wallstreet-online.de/diskussion/1355009-1-10/rei…

[IQ4U]

Goldpreis: Ungewöhnliche Gold-Positionen der Banken
Von
Goldreporter
8. April 2024

Auch eine Besonderheit in der aktuellen Goldpreis-Rally: Die Netto-Short-Position der mit Gold-Futures handelnden US-Banken sind ungewöhnlich gering.

Goldpreis-Entwicklung
Auch auf Basis des Londoner Referenzkurses (P.M.) erreichte der Goldpreis am gestrigen Montag ein neues Allzeithoch. Das aktuelle Rekordmaß steht bei 2.298,55 US-Dollar beziehungsweise 2.128 Euro pro Unze. Im Monatsdurchschnitt waren es im vergangenen Monat 2.158,01 US-Dollar oder 1.984,95 Euro pro Unze...

Quelle: https://www.goldreporter.de/goldpreis-ungewoehnliche-gold-po…

[IQ4U]

[IQ4U]

Signal Gold: Top 25 Undervalued Toronto Stock Exchange Stocks (SGNL)
Globe Investor - Sun Mar 31, 8:26AM CDT

Quelle: https://www.barchart.com/story/news/25164752/signal-gold-top…

[IQ4U]

Ein Beitrag aus WO:

[IQ4U]

Handelsverlauf gestern in Kanada:

[IQ4U]

Signal Gold Inc. (TSX:SGNL)
@SignalGold_SGNL

With BMO Capital Markets as our financial advisor, we're exploring potential strategic alternatives to unlock the project's full potential. We've received a lot of interest, and there are several parties currently in our data room.

Quelle: https://twitter.com/SignalGold_SGNL/status/17758595499556622…

[IQ4U]

Alleine in den letzten 12 Monaten ist Gold um 350 USD gestiegen!

[IQ4U]

Der stetig steigende Goldpreis spielt Signal Gold in die Karten was den Produktionsaufbau von Goldboro anbelangt...

[IQ4U]

Signal Gold: Top 25 Undervalued Toronto Stock Exchange Stocks (SGNL)

Globe Investor - Sun Mar 31, 8:26AM CDT

Quelle: https://www.barchart.com/story/news/25164752/signal-gold-top…

[IQ4U]

Als der Signal Kurs über 1,00 CAD notierte stand der Goldpreis pro Unze um 580 USD tiefer bei 1.763 USD.

Alleine bei 1,1 Millionen Unzen, ohne den Rest zu berücksichtigen, ergeben sich daraus 645 Mio. USD Mehrerlöse!

Oder 878 Mio. CAD.

Da müssen wir wieder hin...

[IQ4U]

Dienstag, 9. April 2024

Was Sie über den langfristigen Bullenmarkt von Gold wissen müssen - Jesse Colombo

In den letzten Jahren ist Gold ohne klare Richtung auf der Stelle getreten und hat selbst die eingefleischtesten Goldfans dazu gebracht, sich verwirrt am Kopf zu kratzen, was die nächste große Bewegung des gelben Metalls angeht. Obwohl Gold während der akutesten Phase der COVID-19-Pandemie im Jahr 2020 aufgrund des beispiellosen Liquiditäts-Tsunamis der globalen Zentralbanken in die Höhe schoss, pendelt es seitdem zwischen 1.600 und 2.100 US-Dollar hin und her. In diesem Beitrag werde ich zeigen, dass sich Gold trotz der unruhigen Entwicklung der letzten Jahre immer noch in einem bestätigten langfristigen Aufwärtstrend befindet. Außerdem werde ich mehrere Faktoren aufzeigen, die dem Goldpreis im nächsten Jahrzehnt und darüber hinaus Rückenwind verleihen dürften...

Quelle: https://makrotranslations.blogspot.com/2024/04/gold-bullen-m…