TORONTO, Dec. 18, 2019 /CNW/ - 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 regarding an updated Mineral Resource
Estimate for its 100%-owned Goldboro Gold Project ("Goldboro", or
the "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.
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, 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.
SOURCE Anaconda Mining Inc.
