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TORONTO, Aug. 1, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (TSX: ANX) (OTCQX: ANXGF) is pleased to announce that it has received the permits required to proceed with the extraction of the proposed 10,000-tonne underground bulk sample (the “Bulk Sample”) at its 100%-owned Goldboro Gold Project (“Goldboro”, or the “Project”) in Nova Scotia, Canada. In connection with the Bulk Sample, Anaconda has engaged Cementation Canada Inc. (“Cementation”) as the mining contractor to assist in the underground development and Bulk Sample extraction. Cementation is mobilizing to site today and will begin development work immediately. The Bulk Sample process is expected to take approximately four months with results to follow thereafter.

“The Bulk Sample is a key milestone in the development of the Goldboro Gold Project, the results of which will enable us to optimize the economics outlined in the Preliminary Economic Assessment, confirm mining and recovery methods and assess the mineral resource around the Bulk Sample. This work will move us closer to demonstrating the feasibility of building a mine at Goldboro. We are also extremely pleased to have Cementation, with its wealth of underground mining knowledge and focus on safety, as a key partner in extracting the Bulk Sample. We believe this has the potential to be a tremendous project for all stakeholders.”