Anaconda Mining Inc. has expanded the Tilt Cove Project, acquiring an additional 14 kilometres of strike extent of the Betts Cove Complex, host to the past producing, high-grade, Nugget Pond Gold Mine as well as the Tilt Cove and Betts Cove Copper Mines. The expanded area is road accessible, underlain by the Betts Cove Ophiolite, as found throughout Tilt Cove, and 17 significant gold and copper occurrences with 190 of 1,416 rock grab and float samples grading between 0.5 and 152.6 g/t gold, including 79 of 1,416 rock grab and float samples grading between 5.0 and 152.6 g/t gold. These occurrences have only been historically tested, primarily for base metals, by cursory diamond drilling comprising 1,701.1 metres in 16 drill holes between 1965 and 1997. None of the drilling completed in 1965 (7 holes; 1,023 metres) was tested for gold mineralization and many of the other subsequent holes stopped short of the targeted mineralization. Compilation and review of historic data will be completed during early 2021 in advance of a summer exploration program. The expansion of the Tilt Cove Project was primarily achieved by staking of 2,375 hectares of mineral lands in a single licence. The Company also entered into an option agreement with local prospectors for the right to acquire a 100% undivided interest in a further 1,800 hectares in 13 licences. The option agreement provides for total cash payments of $145,000 and further share or cash payments (at the Company's election) of $85,000, both over a four-year term, as well as a 2% NSR, capped at $5 million. All amounts are in Canadian dollars.