ANX Anaconda Mining Inc

Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX:ANX) reported today
the initiation of diamond drilling at the Romeo and Juliet prospect near its
Pine Cove gold mine on the Baie Verte Peninsula, Newfoundland. The 2000-meter
definition drill program is expected to take approximately 4 to 6 weeks to
complete. Detailed metallurgical and mine evaluation work is also ongoing.
Depending upon the outcome of the current drill program, the Company may carry
out a preliminary economic assessment.


President and CEO, Dustin Angelo, stated, "We are very encouraged by the
valuable work completed to date on the Romeo and Juliet prospect and feel that
the results demand immediate action. Our guiding thesis is that the quartz vein
may have the potential to substantially increase gold production at the Pine
Cove mill at minimal incremental cost. We will continue to update the market as
we reach new milestones in the development of the prospect."


The Romeo and Juliet prospect is a gold-bearing quartz vein system, discovered
in 1987, that is exposed approximately 1.5 kilometers northwest of the Pine Cove
mine (Figure 1). The prospect is comprised of three zones, referred to as
Juliet, Connecting, and Romeo, with a combined strike length in excess of 300
meters. The veins trend about 30 degrees, dip approximately 60 degrees to the
southeast and are up to 2 meters thick. Gold is present as fine disseminations
within the quartz and as very fine clots and flakes along discrete vein margins.
The prospect was previously explored with 18 shallow diamond drill holes which
tested the prospect to a maximum vertical depth of 100 meters. In 2012, Anaconda
extracted a 1,000-tonne bulk sample from the Juliet zone. Five representative
samples of crushed quartz, averaging 12.6 kg, were processed at Accurassay
Laboratories in Thunder Bay by cyanide extraction (bottle roll testing). The
weighted average assay of the five samples was 5.71 g/t gold (Anaconda Press
Release, April 4, 2013). Anaconda believes that this is representative of the
near surface gold grades within the Juliet zone.


The Company is pleased to have the support of The Atlantic Canada Opportunity
Agency (ACOA) through its Productivity and Business Skills Development Program
in funding a portion of the research cost associated with this project. 


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.


While the Company has no reason to doubt the accuracy of the historic results,
the existing data should not be relied upon until the Company's own exploration
work confirms that the data meet National Instrument 43-101 standards for
disclosure. Historic results and the work that generated them predate the
enactment of National Instrument 43-101, and may not meet the requirements of
that policy. Historical data for the Romeo and Juliet prospect were obtained
from assessment files archived by the Newfoundland and Labrador Department of
Natural Resources.


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.


To view Figure 1 please click on the following link:
http://media3.marketwire.com/docs/ANX0705.pdf


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

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