Anaconda Mining Donates $65,000 to Baie Verte Pool & Swim Program

An Investment in Life Saving Skills for the Baie Verte Region

BAIE VERTE, NL, July 14, 2016 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX:ANX) is pleased to announce a new five-year $50,000 commitment to the Baie Verte regional swim program plus $15,000 for repairs to the pool facility. The commitment was prompted by the overwhelming success of an initiative started last year to provide youth in the region with free swimming lessons.

Prior to the 2015 summer season, average enrolment at the Baie Verte pool was about 40 youth. Last year, due to free lessons offered by Anaconda Mining, registration for swimming lessons grew to 150 participants.

"In recognition of swimming as a life safety skill, Anaconda Mining has decided to make a 5 year $50,000 commitment to provide free swimming lessons to youth at the Baie Verte pool. Participants in the Baie Verte region are eligible to receive one block of swimming lessons per year at a value of $55. This will provide approximately 180 swimmers to access this opportunity every summer."
     ~ Alan Cramm, VP & General Manager, Anaconda Mining

"Most of our employees and their families live in the Baie Verte region. We are proud to work closely with the community and provide support where it is needed. Swimming lessons can only occur with an operating pool facility and when the Mayor brought the infrastructure needs to our attention we were happy to help. Anaconda Mining has committed a further $15,000 for upgrades to the water pump at the swimming pool this year."
     ~ Dustin Angelo, President & CEO, Anaconda Mining

"We know that swimming skills and knowledge of water safety saves lives. This, along with the recreation enjoyment and physical activity, makes swimming an activity that people can benefit from for a lifetime. We are very appreciative to Anaconda Mining for their continued support in the swimming program at our regional facility."
     ~ Clar Brown, Mayor, Town of Baie Verte

"On behalf of the Baie Verte Rec Commission we are thrilled with this donation. Swimming is an essential life skill and everyone should be provided with the opportunity to learn. This donation provides exactly that and we couldn't be happier." 
     ~ Laura Bailey Chair of the Baie Verte Rec Commission.

One block of free lessons will be available per youth per year. An additional block of free swimming lessons for youth may be available, depending upon level interest and availability.

ABOUT ANACONDA MINING

Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse Project and an exploration/development project called the Viking Project in Newfoundland.

The Point Rousse Project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold on the peninsula and gold production to nearly 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 km of cumulative strike length and include five deposits and numerous prospects and showings, all within 8 km of the Pine Cove mill.

Anaconda also controls the Viking Project, which has approximately 6,225 hectares of property in White Bay, Newfoundland, approximately 100 km by water (180 km via road) from the Pine Cove mill. The project contains the Thor Deposit and other gold prospects and showings. The company's plan is to discover and develop more resources within these project areas and double annual production at the Pine Cove mill from its current rate of over 16,000 ounces to 30,000 ounces. 

As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in the people of Newfoundland & Labrador and giving back to the communities in which we operate – building a better future for all our stakeholders, from the ground up.

FORWARD-LOOKING STATEMENTS

This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding targets, estimates and/or assumptions in respect of future production, mine development costs, unit costs, capital costs, timing of commencement of operations and future economic, market and other conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to: the final approval of the private placement by the Toronto Stock Exchange; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any project caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; and other factors. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding Anaconda's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.

SOURCE Anaconda Mining Inc.