ANX Anaconda Mining Inc

Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX:ANX) is pleased to
report, that effective November 13, 2013, it entered into two three-year option
agreements with 1512513 Alberta Ltd. ("Alberta Ltd."), a subsidiary of
Coordinates Capital, to acquire a 100% undivided interest in the Deer Cove and
Stog'er Tight gold projects. The three mining licenses, totaling 48 claims
(approximately 1,235 hectares), and the two mining leases (approximately 47
hectares) are adjacent to Anaconda's property around the Pine Cove mine, Baie
Verte Peninsula, Newfoundland (See Exhibit A).


President and CEO, Dustin Angelo, stated, "These option agreements effectively
consolidate all of the prime prospective exploration land around our Pine Cove
Mine on the Baie Verte Peninsula. Anaconda has dramatically expanded its
operations from a single mine with modest exploration opportunities to a
profitable gold producer with a district scale exploration program with
approximately 6,000 hectares of property on some of the most prospective but
under explored land in Canada. These acquisitions are further examples of our
commitment to expand production at Pine Cove by creating a pipeline of projects.
Deer Cove and Stog'er Tight are advanced gold projects and form an important
part of Anaconda's expansion strategy. With the benefit of having a district
scale perspective, the Company is optimistic that it can take the historical
work done on these projects and transform them into the next mineable gold
deposits on the Baie Verte Peninsula."


Anaconda considers Deer Cove and Stog'er Tight to be key components in its
regional exploration program. The Company is planning an aggressive exploration
program beginning with detailed compilation, structural interpretation and
ground geophysical surveys at Stog'er Tight followed up with a winter
diamond-drill campaign. Detailed compilation of all Deer Cove data will also be
undertaken with follow-up diamond-drilling to commence in the spring of 2014.


To keep the options for Deer Cove and Stog'er Tight in good standing, Anaconda
will have to make aggregate payments to Alberta Ltd. of $400,000 ($50,000 was
paid at closing) over a three-year period. Anaconda has also committed to
$1,000,000 in exploration expenditures, which is split equally between Deer Cove
and Stog'er Tight and half of the commitment must be expended in the first year.
Both projects are subject to a 3% net smelter royalty, 1.8% of which can be
purchased by Anaconda for $1,000,000 each.


Project Background

Deer Cove:

Discovered by Noranda prospectors in 1986, the Deer Cove deposit contains
visible gold associated with brecciated quartz veining. The mineralization is
hosted by mafic volcanic rocks in thrust contact with strongly deformed
talc-carbonate altered schists of the Point Rousse Complex. A Noranda/ Galveston
Resources Ltd. joint venture (1987-1989) carried out detailed exploration
including diamond drilling (119 holes on the Deer Cove grid), construction of a
7.2-kilometer access road and underground exploration via a 507-meter long adit.
No significant exploration work was subsequently undertaken and in 1998 the
property reverted to the Crown. 


In 2000 and 2001, much of the Deer Cove area was staked by South Coast Ventures
Inc. All historic data was compiled and digitized and additional drilling (14
holes) and sampling were completed. In 2010, Tenacity Gold Mining Company Inc.
contracted P&E Mining Consultants Inc. ("P&E") to undertake a mining and
economic analysis of the Deer Cove project. P&E reported that the Deer Cove
deposit, the portion lying above 45 meters above sea level, contained an
estimated resource of 12,900 tonnes grading 10.45 grams/tonne ("g/t") gold at a
cutoff grade of 6.0 g/t. (This is a non-NI 43-101 compliant resource and has not
been verified by Anaconda.) A combination open pit and underground mining method
was proposed and Tenacity entered into a toll-processing arrangement with the
Nugget Pond mill. Mining did not proceed and the property transferred to 1512513
Alberta Ltd.


Stog'er Tight:

The Stog'er Tight deposit was discovered in 1988 through an International
Impala/Noranda joint venture. Trenching and diamond-drilling follow-up of
extensive gold-in-soil geochemistry outlined three auriferous zones, referred to
as the Stog'er Tight, Gabbro West and Gabbro East zones. Noranda carried out
more than 8,000 meters of diamond drilling in 80 holes on the Stog'er Tight
property with much of the effort focused on Stog'er Tight. The deposit was
outlined over a 450-meter strike length with channel sample assays up to 23 g/t
gold over 7 meters and diamond-drill assays averaging 5.5 g/t gold over 4.5
meters. The Stog'er Tight deposit was estimated to contain a probable geological
reserve of 650,000 tonnes grading 6.7 g/t gold (This is a historic non-NI 43-101
compliant estimate and Anaconda has not verified the accuracy of the data.). 


Ming Minerals Incorporated purchased the property and in 1996-1997 carried out
diamond drilling and trenching. A revised resource estimate calculated that the
deposit contained a resource of 229,200 tonnes grading 6.1 g/t gold (This is a
historic non-NI 43-101 compliant estimate and Anaconda has not verified the
accuracy of the data.). Ming Minerals extracted a 30,735-tonne bulk sample from
the Stog'er Tight deposit, however, recoveries were less than anticipated and
mining was stopped. 


In 2006, the mining lease was cancelled, the property reverted to the Crown and
a call for proposals to develop the property was issued with South Coast
Ventures Inc. being the successful applicant. Detailed compilation and
digitizing of all historic exploration data was undertaken and additional
diamond drilling and sampling were completed and in 2007, a toll processing
arrangement was completed with the Nugget Pond mill. In 2010, P&E reported that
the Stog'er Tight deposit contained an estimated mineral reserve of 65,200
tonnes grading 4.96 g/t gold, an indicated resource of 96,000 tonnes grading
7.04 g/t gold and an inferred resource of 53,000 tonnes grading 5.75 g/t gold.
(This is a historic non-NI 43-101 compliant estimate and Anaconda has not
verified the accuracy of the data.) Mining was initiated but results were less
than favourable and development ceased. The property transferred to 1512513
Alberta Ltd.


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.


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
growth, and is based on current expectations and assumptions of management that
involve a number of business risks and uncertainties. Factors that could cause
actual results to differ materially from any forward-looking statements include,
but are not limited to: current and future market trends and growth
opportunities and whether the Company will be able to capitalize upon them.
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 are based on current expectations and 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 the Company assumes 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


ProConsul Capital Ltd.
Andreas Curkovic
Investor Relations
(416) 577-9927
acurkovic@proconsulcapital.com
www.anacondamining.com

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