Anaconda Mining Inc. announced the filing of a technical report prepared in accordance with National Instrument 43-101 ("NI 43-101") with respect to a preliminary economic assessment ("PEA") for its 100%-owned Goldboro Gold Project in Nova Scotia, Canada ("Goldboro", or the "Project"). The technical report, entitled "NI 43-101 Technical Report and Preliminary Economic Assessment for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia", with an effective date of June 23, 2021 (the "Technical Report"), follows the previous announcement on June 23, 2021. Highlights of the Goldboro Gold Project PEA: After-tax Net Present Value at a 5% discount rate ("NPV 5%") of $547 million and an after-tax Internal Rate of Return ("IRR") of 24.4%, with an after-tax payback of 3.2 years based on a gold price of $2,000 per ounce ($1,550 at an exchange rate of 1.29 C$:US$); Pre-tax NPV 5% of $805 million and a pre-tax IRR of 29.0%, with a pre-tax payback period of 2.9 years; Total gold recovered of over 1,950,000 ounces over a 17.6-year life of mine, based on 15.0 Mt at 2.09 grams per tonne ("g/t") gold from surface mining, 6.0 Mt at 4.89 g/t gold from underground mining, and 3.2 Mt at 0.63 g/t gold from a low-grade stockpile; Goldboro could generate an estimated $3.9 billion of gross revenue, approximately $1.6 billion in undiscounted pre-tax net cash flow, and over $481 million in federal and provincial tax payments; Initial capital cost ("Capex") of $286 million resulting in an after-tax NPV 5% to Capex ratio of 1.9; Average gold production of over 89,500 ounces per year over the first 7 years of production from surface mining, increasing to average annual production of over 120,000 ounces in years 8 through 18; Life-of-Mine Operating Cash Costs1 of $862 ($668) per ounce sold and All-In Sustaining Costs1 ("AISC") of $1,031 (US$799) per ounce sold; Mill capacity of 4,000 tonnes per day ("tpd") based on combined gravity and leaching circuit, demonstrating an average gold recovery of 96.4%; and At a gold price of $2,200 ($1,705), Goldboro could generate cumulative after-tax net cash flows of approximately $1.4 billion, an after-tax NPV 5% of over $700 million and an after-tax IRR of 29.2%. The Goldboro Gold Project Preliminary Economic Assessment: The PEA was completed by Nordmin Engineering Ltd. ("Nordmin") as Lead, Mining, and Geological Consultant. Knight Piésold Ltd. ("Knight Piésold") acted as Tailings Consultant, GHD Ltd. ("GHD") as Site Water Management and Environmental Consultant, Ausenco Engineering Canada Inc. ("Ausenco") as Metallurgical and Processing Consultant, Lorax Environmental Services Limited ("Lorax") as Geochemistry Consultant, and McCallum Environmental Ltd. ("McCallum") as Consultation and Permitting Consultant. The Mineral Resource is based on validated results of 635 surface and underground drill holes, for a total of 113,132.9 metres of diamond drilling, including 45,408.7 metres conducted by Anaconda, that was completed between 1984 and the effective date of February 7, 2021. Please refer to the Technical eport for further details.