TORONTO - Anaconda Mining Inc. ('Anaconda' or the 'Company') (TSX: ANX) (OTCQX: ANXGF) is pleased to announce final results from 733 metres of a 5,158-metre infill drill program at Stog'er Tight (the 'Infill Drill Program') (Exhibit A).
The final drill holes tested the margins of the potential open pit shells and encountered mineralization that may broaden the preliminary pit at its margins. With the final drill results received, the Company will finalize geological and resource modelling, pit design and financial analysis of the deposit, which will leverage the Pine Cove Mill and Tailings Facility approximately three kilometres to the west along established road networks.
Based on the success of the Infill Drill Program, the Company has initiated an 850-metre geotechnical drilling and ground water monitoring program to support detailed pit design and to obtain relevant environmental data to support ongoing environmental assessment work.
Highlights from the Infill Drill Program conducted since March 2021, including previously unreported holes BN-21-478 to BN-21-495 disclosed here, include: 8.46 grams per tonne ('g/t') gold over 5.0 metres (41.0 to 46.0 metres), including 34.00 g/t gold over 1.0 metre in diamond drill hole BN-21-429; 7.91 g/t gold over 6.0 metres (89.0 to 95.0 metres), including 20.30 g/t gold over 1.0 metre in diamond drill hole BN-21-447; 1.54 g/t gold over 29.4 metres (6.6 to 36.0 metres), including 15.90 g/t gold over 1.0 metre in diamond drill hole BN-21-470; 4.72 g/t gold over 7.0 metres (64.0 to 71.0 metres) including 19.50 g/t gold over 1.0 metres and 0.84 g/t gold over 10.0 metres (27.0 to 37.0 metres) in diamond drill hole BN-21-468; 1.60 g/t gold over 15.4 metres (35.6 to 51.0 metres), including 8.10 g/t gold over 0.5 metres in diamond drill hole BN-21-474; 3.62 g/t gold over 20.0 metres (31.8 to 51.8 metres), including 19.40 g/t gold over 1.0 metres and 10.20 g/t gold over 1.0 metre in diamond drill hole BN-21-422; 3.86 g/t gold over 7.0 metres (48.0 to 55.0 metres), including 14.20 g/t gold over 1.0 metres in diamond drill hole BN-21-420; 2.44 g/t gold over 7.8 metres (7.6 to 15.4 metres), including 6.24 g/t gold over 1.0 metres in diamond drill hole BN-21-402; 1.82 g/t gold over 2.7 metres (30.8 to 33.5 metres) in diamond drill hole BN-21-479; 0.97 g/t gold over 9.0 metres (43.0 to 52.0 metres) in diamond drill hole BN-21-491 and 0.94 g/t gold over 7.0 metres (13.0 to 20.0 metres) in diamond drill hole BN-21-492.
ABOUT ANACONDA
Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the top-tier Canadian mining jurisdictions of Newfoundland and Nova Scotia. The Company is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project with Measured and Indicated Mineral Resources of 1.9 million ounces (16.0 million tonnes at 3.78 g/t) and Inferred Mineral Resources of 0.8 million ounces (5.3 million tonnes at 4.68 g/t), which is subject to an ongoing Feasibility Study. Anaconda also 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 15,000 hectares of highly prospective mineral property, including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project.
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 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, 2019, 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.
Contact:
Kevin Bullock
Tel: (647) 388-1842
Email: kbullock@anacondamining.com
SIGNAL GOLD INC. 
