Anaconda Mining Commences 20,000 metre Drill Program and Geophysical Survey at the Goldboro Gold Project

Jun 03, 2021

TORONTO, ON / ACCESSWIRE / June 3, 2021 / Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX, Financial)(OTCQX:ANXGF, Financial) is pleased to announce it has commenced a 20,000 metre diamond drill program (the "Drill Program") at its wholly-owned Goldboro Gold Project ("Goldboro" or the "Project") in Nova Scotia, Canada. The Drill Program, which is in addition to the 3,500-metre drill program announced in March 2021, will be primarily focused on infill drilling designed to convert priority Inferred Mineral Resources within and adjacent to the constrained open pits, into Indicated Mineral Resources to support the ongoing Feasibility Study. The constrained open pits were designed usingonly Measured and Indicated Resources(Exhibit A), which, in the process, captured a portion of Inferred Resources within the open pits. Additionally, there are under-drilled areas adjacent to the constraining open pits that, if converted to Indicated Mineral Resources, could further increase the open-pit mineral resource.

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