TORONTO - Anaconda Mining Inc. ('Anaconda' or the 'Company') (TSX: ANX) (OTCQX: ANXGF) is pleased to announce it has expanded and further consolidated the Tilt Cove Gold Project ('Tilt Cove') located within the Baie Verte Mining District in Newfoundland, approximately 45 kilometres by quality roads from the Company's Pine Cove Mill and long-term tailings facility (Exhibit A).
The expansion includes an additional 4,175 hectares of prospective mineral property, acquired via staking and an option agreement, that covers an additional 14 kilometres of favourable geology and structure in the region. The Company now maintains a 100% interest over 35 kilometres of highly prospective strike length including the Nugget Pond Horizon that hosted the Nugget Pond Mine.
Highlights of the expanded area of the Tilt Cove Project include: A highly prospective, road accessible mineral property with 17 significant gold and copper occurrences; 190 of 1,416 Historic rock grab and float samples grading between 0.5 and 152.6 grams per tonne ('g/t') gold, including 79 rock grab and float samples grading between 5.0 and 152.6 g/t gold; Underlain by the Betts Cove Complex geology, which hosts the nearby, past producing, high-grade Nugget Pond Mine, as well as the Tilt Cove and Betts Cove Copper Mines; Adjacent to the Green Bay Fault, part of the Long-Range Fault System, a first order structure proximal and genetically linked to numerous gold deposits including the high-grade Nugget Pond and Hammerdown Mines (Exhibit B).
'We are excited to have completed such a significant expansion of the Tilt Cove Gold Project, which provides the Company with an additional 14 kilometres of continued strike length, in a highly-prospective mineral property, encompassing the same geological trend as the past producing, high-grade, Nugget Pond Mine which had an average recovered grade of 9.85 grams per tonne gold. The Tilt Cove Gold Project now includes a 35-kilometre strike extent of this highly prospective geological terrane, in addition to being adjacent to the Green Bay Fault, a crustal scale structure proximal and genetically linked to both the Nugget Pond and Hammerdown Mines. We continue to aggressively execute our exploration programs at Tilt Cove, including an initial ongoing 10,000 metre program, and we are well-funded to advance exploration work on our expanded land package and follow-up on any potential discovery.'
ABOUT ANACONDA
Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in Atlantic Canada. The company operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully-permitted Pine Cove Mill, tailings facility and deep-water port, as well as 11,000 hectares of highly prospective mineral lands including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade resource and the subject of an on-going feasibility study.
FORWARD-LOOKING STATEMENTS
This news release contains 'forward-looking information' within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects', or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'does not anticipate', or 'believes' or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', or 'will be taken', 'occur', or 'be achieved'. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2019, available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Contact:
Kevin Bullock
Tel: (647) 388-1842
Email: kbullock@anacondamining.com
SIGNAL GOLD INC. 
