Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX:ANX) reports today
that diamond drilling at its Romeo and Juliet prospect has intersected a new
gold-bearing zone dubbed the Balcony Zone, located between the Romeo and
Connecting Zones. It appears to dip steeply to the north, trends roughly
east-west and is spatially associated with a northeast-trending topographic
linear. Mineralization has been traced for approximately 100 meters and is open
to the east, west and down dip. Gold is associated with pyritic altered mafic
volcanic rocks, which is different from the Romeo and Juliet massive quartz vein
hosted-style of gold mineralization. A structural interpretation is therefore
underway to help guide future drilling and to understand better these positive
anomalies.


President and CEO, Dustin Angelo, stated, "The discovery of the Balcony Zone is
a very positive event for the Romeo and Juliet exploration program. We are very
encouraged by the new style of mineralization intersected by the recent
drilling. Given the wide variation in historical and current assay results
throughout Romeo and Juliet and the newly discovered Balcony Zone, the Company
has initiated a structural study of the entire prospect. We look forward to the
structural interpretation, which should take approximately 4 weeks, to help
provide direction on future exploration work."


Anaconda drilled seven holes into the Balcony Zone. Hole RJ-13-26 intersected
strongly altered mafic volcanic rock containing abundant disseminated pyrite and
fine quartz-carbonate veinlets, which assayed 8.4 g/t Au over a core length of
12 meters (Table 1). The hole is interpreted to have cut the mineralization at a
low angle. Hole RJ-13-33 was subsequently drilled to intersect the
mineralization perpendicular to hole RJ-13-26. It also contained altered mafic
volcanics with heavy disseminated pyrite and quartz-carbonate veining. Hole
RJ-13-33 assayed 4.35 g/t Au over 8.44 meters including 6.22 g/t Au over 1.64
meters and 5.45 g/t Au over 4.85 meters. This intersection confirms the scale
and significance of the mineralization, but further work is required to
establish true widths. Holes RJ-13-34 to RJ-13-37 targeted the Balcony Zone with
all, but RJ-13-34, returning anomalous gold intercepts, highlighted by RJ-13-35
returning 2.91 g/t Au over 11.1 meters. (Table 1; Figure 1 - link below). Fine
visible gold was observed in quartz veins in holes RJ-13-26, 35, 36 and 37.


To date, Anaconda has drilled 19 holes totaling 2,004 meters at the Romeo and
Juliet prospect (Figure 2 - link below). The original goal of the program was to
target down-dip extensions of the Romeo and Juliet gold-bearing quartz veins.
While Anaconda intersected the Romeo and Juliet quartz veins in 13 out of 19
holes, assays results from the down-dip extensions of the Juliet and Connecting
Zones were generally lower than anticipated (Table 2). However, in the Romeo
Zone, hole RJ-13-32 returned 10.4 g/t Au over 0.54 meters and hole RJ-13-29
returned 3.45 g/t Au over 1.23 meters, both at depths over 100 meters. PC-13-27
intersected both the Balcony and the Romeo Zones. 




Table 1: 2013 Drill results from Balcony Zone                              
                                                                           
---------------------------------------------------------------------------
Hole        Azimuth      Dip     Depth     From       To  Interval   Au g/t
---------------------------------------------------------------------------
RJ-13-26        300       55     126.5       57       69        12      8.4
---------------------------------------------------------------------------
Including                                    57       58         1     3.18
---------------------------------------------------------------------------
Including                                    58       59         1     2.18
---------------------------------------------------------------------------
Including                                    59       60         1     1.21
---------------------------------------------------------------------------
Including                                    60       61         1     3.86
---------------------------------------------------------------------------
Including                                    61       62         1     2.75
---------------------------------------------------------------------------
Including                                    62       63         1       12
---------------------------------------------------------------------------
Including                                    63       64         1     13.7
---------------------------------------------------------------------------
Including                                    64       65         1     7.27
---------------------------------------------------------------------------
Including                                    65       66         1     9.31
---------------------------------------------------------------------------
Including                                    66       67         1     29.7
---------------------------------------------------------------------------
Including                                    67       68         1     12.1
---------------------------------------------------------------------------
Including                                    68       69         1     3.89
---------------------------------------------------------------------------
RJ-13-27        300       75     148.4     7.94    11.85      3.91     0.84
---------------------------------------------------------------------------
RJ-13-27                                   20.7     22.7         2     5.29
---------------------------------------------------------------------------
RJ-13-27                                  129.3   130.32      2.02      2.2
---------------------------------------------------------------------------
RJ-13-27                                 131.82   132.85      1.03     1.18
---------------------------------------------------------------------------
RJ-13-27                                 138.52   138.75      0.23      7.2
---------------------------------------------------------------------------
RJ-13-33        180       75     75.28    44.06     52.5      8.44     4.35
---------------------------------------------------------------------------
including                                 44.06     45.7      1.64     6.22
---------------------------------------------------------------------------
including                                  45.7    47.65      1.95     0.05
---------------------------------------------------------------------------
including                                 47.65     52.5      4.85     5.45
---------------------------------------------------------------------------
including                                 48.65     50.3      1.65     12.4
---------------------------------------------------------------------------
RJ-13-34        180       47     100.3                No Significant Assays
---------------------------------------------------------------------------
RJ-13-35        180       75    123.75    32.09    32.37      0.28     3.19
---------------------------------------------------------------------------
RJ-13-35                                   93.9      105      11.1     2.91
---------------------------------------------------------------------------
including                                 100.2   100.69      0.49     36.9
---------------------------------------------------------------------------
RJ-13-36        170       55     96.62    27.06    27.65      0.59     1.27
---------------------------------------------------------------------------
RJ-13-37        180       55     120.4     8.55     9.46      0.91     5.13
---------------------------------------------------------------------------
RJ-13-37                                  74.01     74.1      0.09     1.35
---------------------------------------------------------------------------
Note: All measurements are in meters                                       
---------------------------------------------------------------------------
                                                                           
Table 2: 2013 Drill results from Romeo, Connecting and Juliet Zones        
                                                                           
---------------------------------------------------------------------------
Hole        Azimuth      Dip     Depth     From       To  Interval   Au g/t
---------------------------------------------------------------------------
RJ-13-19        300       75     100.3     57.5       59       1.5     0.63
---------------------------------------------------------------------------
RJ-13-20        300       75      95.4    46.65       47      0.35     0.45
---------------------------------------------------------------------------
RJ-13-21        300       67      76.8    32.34       35      1.16     0.63
---------------------------------------------------------------------------
RJ-13-22        300       55     103.2     49.1       50       0.9     1.07
---------------------------------------------------------------------------
RJ-13-23        300       75     99.67    50.55    52.85       2.3     1.24
---------------------------------------------------------------------------
RJ-13-24        300       55      75.4     32.9    33.46      0.56     1.42
---------------------------------------------------------------------------
RJ-13-24                                  60.65    63.04      2.39     3.53
---------------------------------------------------------------------------
RJ-13-25        300       75      78.2    75.28    75.78       0.5     1.04
---------------------------------------------------------------------------
RJ-13-28        300       55     121.6   105.89    107.5      1.61      2.3
---------------------------------------------------------------------------
RJ-13-28                                  116.3   116.46      0.16     10.6
---------------------------------------------------------------------------
RJ-13-29        300       75    122.23   115.22   116.45      1.23     3.45
---------------------------------------------------------------------------
RJ-13-30        300       55     107.7    94.16    94.27      0.11     4.51
---------------------------------------------------------------------------
RJ-13-31        300       75     122.5    103.5   104.47      0.97      3.1
---------------------------------------------------------------------------
RJ-13-31                                 115.55   117.17      1.62     1.54
---------------------------------------------------------------------------
RJ-13-32        300       55    110.33    71.68    72.22      0.54     10.4
---------------------------------------------------------------------------
Note: All measurements are in meters                                       
---------------------------------------------------------------------------



Romeo and Juliet Background

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. The prospect is comprised of three zones, referred to as Juliet,
Connecting, and Romeo, and have 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 hole which
tested the prospect to a maximum vertical depth of 100 meters. In the late fall
of 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 feels that this is
representative of the near surface gold grades within the Juliet Zone.


Note: All assay intervals refer to core length and at present true thicknesses
of mineralized zones are not known. The diamond drilling was carried out by New
Valley Drilling of Springdale, Newfoundland and was supervised by Silvertip
Exploration Consultants Inc. The NQ core was logged and sampled at the Pine Cove
mine site. Samples selected for analyses were sawn and half the sample was
tagged and placed in a sealed plastic bag. Samples generally comprised one metre
core intervals in altered rock and half meter intervals in quartz veins. Samples
were transported by Silvertip personnel to the Eastern Analytical Laboratory in
Springdale, Newfoundland for fire assay. As part of the QA-QC protocol,
standards and blanks were randomly inserted during the sampling process. The
remaining core is stored at the Pine Cove mine.


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 Figures 1 and 2 please click on the following link:
http://media3.marketwire.com/docs/ANX0916.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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