TORONTO, April 25, 2012 /CNW/ - Anaconda Mining Inc. ("Anaconda" or "the
Company") - (TSX: ANX) is pleased to announce, on April 24, 2012, it
made another principal payment against the outstanding Convertible
Loan, Series I Debentures and Series II Debentures (collectively, the
"Loans"). The principal payments totaled $500,360 and were divided pro
rata across the Loans. Since March 28, 2012, the Company has made
approximately $1,000,000 in principal payments against the Loans and
reduced the outstanding balance from $6,900,000 to $5,899,280.
President and CEO, Dustin Angelo, stated, "Pine Cove continues to
perform well, which has enabled the Company to generate the necessary
cash flow to service its interest bearing debt as well as allocate
resources to growth opportunities. With proceeds from our Chile
transaction and more cash flow from Pine Cove, we still expect to cut
our interest bearing debt nearly in half by May 31, 2012."
ABOUT ANACONDA
Headquartered in Toronto, Canada, Anaconda is a growth oriented, gold
mining and exploration company with a producing asset located on the
Baie Verte Peninsula in Newfoundland, Canada called the Pine Cove mine.
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
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.
<p> <i>Anaconda Mining Inc. </i><br/> <i>Dustin Angelo</i><br/> <i>President and CEO </i><br/> <i>(647) 260-1248</i><br/> <i>Email: </i><i><a text-decoration="underline" href="mailto:dangelo@anacondamining.com" font-style="italic">dangelo@anacondamining.com</a></i> </p> <p> <i>ProConsul Capital Ltd.</i><br/> <i>Andreas Curkovic</i><br/> <i>Investor Relations </i><br/> <i>(416) 577-9927</i><br/> <i>Email: </i><i><a href="mailto:acurkovic@proconsulcapital.com">acurkovic@proconsulcapital.com</a></i><br/> </p> <p> Company website: <a href="http://www.anacondamining.com">www.anacondamining.com</a> </p>