Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX:ANX) is pleased to
report that it has engaged Fugro Airborne Services to fly a helicopter-borne
Electromagnetic/Magnetic survey over Anaconda's Pine Cove property on the Baie
Verte Peninsula, Newfoundland. The airborne survey has begun and is expected to
be completed by the end of June with the results being available by
approximately late August.


Anaconda has mineral exploration rights to approximately 4,785 hectares
surrounding its Pine Cove gold mine. The area is underlain by ophiolitic and
cover sequence rocks of the Point Rousse Complex which is a prolific host for
gold mineralization. The Dighem EM/Horizontal Magnetic Gradiometer survey will
target these rocks. The data will be used in conjunction with archived
gold-in-soil geochemical data and prospecting to further delineate exploration
targets. The survey will cover approximately 700 line kilometers at a flight
line spacing of 75 meters. 


President and CEO, Dustin Angelo, stated, "The airborne survey is an important
next step in our exploration plan. The high-resolution data will aid exploration
activities both adjacent to the Pine Cove mine and regionally in the search for
additional gold resources." 


This news release has been reviewed and approved by David Evans, P. Geo., with
Silvertip Exploration Consultants Inc., a "Qualified Person" under National
Instrument 43-101.


ABOUT ANACONDA

Headquartered in Toronto, Canada, Anaconda is a growth oriented, gold mining and
exploration company with a producing asset located on the Baie Verte Peninsula
in Newfoundland, Canada called the Pine Cove mine. 


FORWARD LOOKING STATEMENTS

This document contains or refers to forward-looking information. Such
forward-looking information includes, among other things, statements regarding
targets, estimates and/or assumptions in respect of future production, mine
development costs, unit costs, capital costs, timing of commencement of
operations and future economic, market and other conditions, and is based on
current expectations that involve a number of business risks and uncertainties.
Factors that could cause actual results to differ materially from any
forward-looking statement include, but are not limited to: the final approval of
the private placement by the Toronto Stock Exchange; the grade and recovery of
ore which is mined varying from estimates; capital and operating costs varying
significantly from estimates; inflation; changes in exchange rates; fluctuations
in commodity prices; delays in the development of the any project caused by
unavailability of equipment, labour or supplies, climatic conditions or
otherwise; termination or revision of any debt financing; failure to raise
additional funds required to finance the completion of a project; and other
factors. Additionally, forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on the
business. Forward-looking statements may include words such as "plans," "may,"
"estimates," "expects," "indicates," "targeting," "potential" and similar
expressions. These forward-looking statements, including statements regarding
Anaconda's beliefs in the potential mineralization, are based on current
expectations and entail various risks and uncertainties. Forward-looking
statements are subject to significant risks and uncertainties and other factors
that could cause actual results to differ materially from expected results.
Readers should not place undue reliance on forward-looking statements. These
forward-looking statements are made as of the date hereof and we assume no
responsibility to update them or revise them to reflect new events or
circumstances, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Anaconda Mining Inc.
Dustin Angelo
President and CEO
(647) 260-1248
dangelo@anacondamining.com
www.anacondamining.com


ProConsul Capital Ltd.
Andreas Curkovic
Investor Relations
(416) 577-9927
acurkovic@proconsulcapital.com
Anaconda Mining (TSX:ANX)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Anaconda Mining Charts.
Anaconda Mining (TSX:ANX)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Anaconda Mining Charts.