Canadian Mining Journal

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GOLD: Anaconda Expands the Argyle Discovery and Provides Project Update



TORONTO – Anaconda Mining Inc. is pleased to provide the remaining assay results related to an expansion diamond drilling program and a percussion drilling campaign at its Argyle discovery, located approximately 4.5 kilometres from the Company’s fully-operational Pine Cove Mill and tailings facility at the Point Rousse Project, Newfoundland. The Expansion Drill Program, which consisted of 8 diamond drill holes totaling 1,002 metres, was successful in extending Argyle’s known mineralization down dip and demonstrating continuity of a higher-grade zone further to the north than previously known. In addition, Anaconda conducted a Percussion Drill Program to confirm continuity of shallow mineralization along the southern portion of the known mineralized area. The Company also plans to announce an NI 43-101 compliant resource on Argyle by the end of 2017.

A map showing the location of diamond drill holes reported in this press release (red) and percussion drill holes (yellow) and previous drilling (black). The high-grade areas are outlined in red with all mineralization outlined in black. (Anaconda Mining Inc.)

“We have made great progress on the Argyle discovery and are getting ready to announce an initial resource estimate by the end of the year. The NI 43-101 report will add mineral resources to the Point Rousse Project and provide more confidence in Anaconda’s ability to sustain gold mining activities within close proximity to the Pine Cove Mill. In addition, we will continue with expansion drilling around Argyle with the goal of further resource growth at the Point Rousse Project.”

Dustin Angelo – President and CEO of Anaconda Mining

To view the full press release and see all the drill highlights, visit www.anacondamining.com.