Anaconda's Dustin Angelo Recognized Among Top 50 CEOs in Atlantic Canada

ST. JOHN'S, NL, May 23, 2017 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX:ANX) is pleased to announce that on Wednesday May 17, 2017, Atlantic Business Magazine named Dustin Angelo, President and CEO of Anaconda, one of Atlantic Canada's Top 50 CEO's for the second consecutive year. Angelo accepted the award at the St. John's Convention Centre at an event hosted by Publisher Hubert Hutton and emceed by "This Hour Has 22 Minutes" host Mark Critch.

"Anaconda has experienced tremendous growth in recent years and has had many notable achievements, but it takes more than one person to make it happen. Since I have been at the Company, we've assembled a solid, unified management team, built a strong corporate culture with high morale and created a company with a bright future. I share this award with every member of our workforce, each of whom play an important role in our success.

"I am excited about the long term potential for Anaconda, particularly because of the great people that are here to execute on our plans. We've done a tremendous job of growing the Point Rousse Project and generating profits on a small scale in Newfoundland. Now that we have acquired the Goldboro Project, we look forward to developing our first project in Nova Scotia, increasing annual production and continuing to expand throughout Atlantic Canada."

~ Dustin Angelo, President & CEO

Since 1999, Atlantic Business Magazine has dedicated one issue each year to profiling Atlantic Canada's most accomplished business leaders. Nominations are submitted by readers of the magazine and nominees are judged on their corporate, community and industry involvement, their company's growth in recent years, and their responses to various managerial challenges.

ABOUT ANACONDA

Anaconda is a growth-oriented, Atlantic Canada regional gold producer, developer and explorer with a producing project called the Point Rousse Project on the Baie Verte Peninsula, Newfoundland and a major development project called the Goldboro Project in Nova Scotia. Anaconda also has three other exploration projects called the Viking and Great Northern Projects and the Tilt Cove Property in Newfoundland. Including all projects, Anaconda controls over 600,000 ounces of measured and indicated gold resources and over 400,000 ounces of inferred gold resources. Approximately 70% of the measured and indicated resources are greater than 5.0 grams per tonne and approximately 85% of the inferred resources are more than 4.0 grams per tonne.

Anaconda has plans to grow its resource portfolio and production profile through exploration and mergers and acquisitions. To maximize potential profit and minimize capital investment, it will leverage its existing operating infrastructure at the Point Rousse Project including Anaconda's mill facility, tailings capacity and port facility.

As the only pure play gold producer in Atlantic Canada, Anaconda 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 its people and giving back to the communities in which we operate – building a better future for all our stakeholders, from the ground up.

See Technical Reports on the Company's SEDAR profile for complete information regarding resource estimates.

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.