ANXGF - ANXGF STOCK NEWS

Anaconda Mining Inc. (TSX:ANX)(OTCQX:ANXGF) has launched a 5,000 metre diamond drill program at its Point Rousse operation in Newfoundland. This initiative follows a 2021 Induced Polarization geophysical survey aimed at identifying anomalies up to 250 metres deep. The program targets five new areas near the Pine Cove mill, with past drilling yielding results like 1.89 g/t gold over 7.8 metres. The company anticipates significant impact on production and cash flow from potential high-grade discoveries, while 2022 is projected to be a record year.

Anaconda Mining has filed a technical report for its Goldboro Gold Project in Nova Scotia, highlighting a Feasibility Study with significant metrics. Key results include over 1.10 million ounces of gold recovery over an 11-year mine life, a pre-tax NPV of C$484 million, and an IRR of 31.2%. Initial capital costs are projected at C$271 million with operating cash costs of C$966 per ounce. The project aims to create 345 jobs during construction and will contribute over C$226 million in taxes. Opportunities for resource expansion and further value creation exist.

Anaconda Mining reported its production results for 2021, achieving gold production of 12,054 ounces, aligning with revised guidance of approximately 12,000 ounces. The Pine Cove Mill processed 446,562 tonnes with a recovery rate of 86.5%. For 2022, Anaconda forecasts a record gold production between 21,500 and 23,000 ounces, with operating cash costs estimated at $1,150-$1,250 per ounce. The company ended 2021 with a cash balance of $10.1 million and secured a $5.0 million gold prepayment facility for liquidity.

Anaconda Mining Inc. announced positive results from its infill diamond drill program at the Goldboro Gold Project, aimed at upgrading mineral resources between two proposed open pits. The program included 19 drill holes totaling 2,585 meters, revealing multiple new zones of near-surface gold mineralization. Key highlights include significant gold grades, with up to 34.80 g/t over intervals. The project feasibility study revealed a combined resource of 2.58 million ounces, demonstrating strong economic viability with a pre-tax NPV of $484 million and an IRR of 31.2%. Future drilling is planned to enhance value.

Anaconda Mining Inc. (TSX:ANX, OTCQX:ANXGF) has signed a Community Benefits Agreement with the Municipality of the District of Guysborough to support social and economic initiatives surrounding the Goldboro Gold Project in Nova Scotia. This Agreement emphasizes local employment opportunities, community grants, and educational support, while fostering ongoing dialogue between the company and local stakeholders. Anaconda aims to ensure sustainable benefits throughout the project’s lifecycle and maintain a commitment to corporate social responsibility, recognizing the importance of collaboration with the Mi'kmaq community.

Anaconda Mining Inc. announced the results of its Phase I Open Pit Feasibility Study for the Goldboro Gold Project in Nova Scotia, revealing a robust economic outlook. Highlights include:

• Pre-tax NPV (5%) of C$484 million and an IRR of 31.2% with a payback period of 2.7 years.
• Average annual gold production of 100,000 ounces over an estimated 11-year mine life.
• Total capital costs estimated at C$271 million with projected cash costs of C$966 per ounce.
• Positive employment impact expected, creating approximately 345 jobs during construction and 215 during operations.

Anaconda Mining Inc. has appointed Rick Howes to its Board of Directors, bringing nearly 40 years of mining industry experience. Howes, who previously led Dundee Precious Metals, is expected to enhance Anaconda's operations, particularly at the Goldboro Gold Project in Nova Scotia. Concurrently, Dr. Michael Byron resigned from the Board but will remain with the company as part of the Technical Advisory Committee. The Goldboro project contains significant resources, with 1.9 million ounces of Measured and Indicated resources and 0.8 million ounces Inferred. This leadership change aims to drive operational success and shareholder value.

Anaconda Mining announced the filing of a technical report regarding its Point Rousse Gold Project in Newfoundland, effective September 1, 2021. The report highlights a total of 676,955 tonnes of probable mineral reserves containing 36,465 ounces of gold. The NPV is estimated at $17.4M with an IRR of 1,631% based on a gold price of $2,000/oz. Additionally, indicated resources total 1,226,655 tonnes at 2.55 g/t gold, comprising 100,445 ounces, while inferred resources amount to 53,000 tonnes.