"We Remember" initiative raises $44,800 to support military service members, veterans & families

ST. JOHN'S, Nov. 11, 2016 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX: ANX) is pleased to announce the completion and success of the "We Remember" initiative, launched in May 2016, in commemoration of the 100th anniversary of the Battle of Beaumont Hamel on July 1, 2016.

Anaconda and The Golden Tulip partnered with the Community Foundation of Newfoundland and Labrador (CFNL) to create commemorative forget-me-not pins to honour the sacrifices of past generations of Newfoundlanders and Labradorians. Proceeds raised through the sale of the pins will support the current generation of men and women who have made the same commitment to serve our country.

Anaconda President & CEO Dustin Angelo, along with Julie & Terry George of the Golden Tulip recently presented a cheque for $44,800 to Paul McDonald, Chair of CFNL's Board of Directors, to support the Maple Leaf Fund, which provides emergency funding to military service members, veterans, and their families in Newfoundland and Labrador through Military Family Resource Centres in St. John's, Gander, and Goose Bay.

Dustin Angelo, President & CEO stated, "Responsibility to community is one of our core values at Anaconda. It was an honour to donate our Newfoundland gold to be used in these very special pins and help raise funds that will support the important services of Military Family Resource Centres in Newfoundland & Labrador. This has also been a meaningful experience for our employees, many of whom have family who have served or are currently serving in the military."

The custom-designed, sterling silver pin, created by The Golden Tulip, featured three forget-me-not blossoms with an inset of certified Anaconda Newfoundland gold to represent the past, present and future of the Royal Newfoundland Regiment. It can be worn as a lapel pin or jewelry item in recognition and remembrance of Newfoundland and Labrador's military service members past and present.

See Anaconda's News Release dated May 10, 2016, for more on the Beaumont Hamel Commemorative Pin featuring Anaconda's Newfoundland Gold.

ABOUT ANACONDA MINING

Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse Project and two exploration/development projects called the Viking and Great Northern Projects 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.  A second property called the Tilt Cove Property, consisting of 350 hectares, is located approximately 60 kilometres by road from the Pine Cove Mill but is also within the Baie Verte Mining District and underlain by similar geology to the Point Rousse Project.

Anaconda also controls the Viking and Great Northern Projects, which have approximately 6,225 and 6,375 hectares respectively of property in White Bay, Newfoundland, approximately 100 kilometres by water (180 kilometres via road) from the Pine Cove Mill. The Viking Project contains the Thor Deposit and other gold prospects and showings and the Great Northern Project includes numerous prospects and showings within a similar geological setting as the Viking Project. The Company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove Mill from its current rate of nearly 16,000 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.

For further information: Anaconda Mining Inc., Dustin Angelo, President and CEO, (647) 260-1248, dangelo@anacondamining.com, www.AnacondaMining.com; High Stakes Strategy & Communications, Lynn Hammond, Executive Consultant, (709) 330-1260, LH@LynnHammond.ca

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