05:10:58 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Anaconda Mining Inc
Symbol ANX
Shares Issued 176,825,944
Close 2012-05-03 C$ 0.11
Market Cap C$ 19,450,854
Recent Sedar Documents

Anaconda options 1,575 ha by Pine Cove mine

2012-05-07 08:13 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING OPTIONS 1,575 HECTARES ADJACENT TO ITS PINE COVE GOLD MINE

Effective May 1, 2012, Anaconda Mining Inc. entered into a five-year option agreement with Tenacity Gold Mining Company Ltd. to acquire a 100-per-cent undivided interest in four mining licences in the Pine Cove to Stog'er tight area near Baie Verte, Nfld., totalling 63 claims and approximately 1,575 hectares. The licences are adjacent to the existing mining licence where the Pine Cove gold mine currently operates.

President and chief executive officer, Dustin Angelo, stated: "This option agreement is an important step in our growth plans for Pine Cove as it more than triples the size of the company's land package in the area. The company is committed to expanding the life and production of Pine Cove through exploration. The Tenacity properties, which are adjacent to our current operations, offer an ideal and logical extension of the area we currently control."

In the near term, the company does not have any material, mandatory obligations related to the licences; however, it is obliged to keep the licences in good standing during the term of the option. During the remainder of calendar 2012, the company is required to make exploration expenditures of approximately $67,000.

We seek Safe Harbor.

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