Anaconda Congratulates VP Allan Cramm on Prestigious Recognition by PEGNL

ST. JOHN'S, June 23, 2017 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") - (TSX:ANX) is pleased to congratulate Allan Cramm, Vice President of Innovation & Development, on the prestigious recognition of Honourary Membership in the organization of Professional Engineers and Geoscientists Newfoundland & Labrador (PEGNL).

The PEGNL Board of Directors may confer Honourary Membership in PEGNL upon any person who, through his/her own initiative and leadership, has rendered eminent service allied with the profession resulting in the betterment of society through the development of new material, equipment, techniques, philosophy or management related to engineering or geoscience.

"Allan Cramm embodies the ideals represented in an Honourary Membership in PEGNL. He is an innovative leader and an 'out-of-the-box' thinker who has been at the forefront of the growth and development of our Point Rousse Project. His leadership has taken pioneering ideas, such as selling the waste rock from our gold mining operation as a construction aggregate product, and made them a reality. I'm pleased to be able to witness how one person's ingenuity can effect such positive change, not just for our company but for the mining industry. On behalf of the board of directors and the management team of Anaconda, I want to congratulate Allan on this well-deserved recognition."

~ Dustin Angelo, President & CEO, Anaconda Mining Inc.

"Allan Cramm is recognized as a purveyor of innovation within the mining industry, from his early days at the Baie Verte asbestos mine to his current role with Anaconda Mining. Through his leadership he has seen many young workers move back to the Baie Verte region and has found ways of challenging them to grow the local economy. Mentors like Allan Cramm are critical to advancing the mining industry in Newfoundland and Labrador."

~ Geoff Emberley, CEO & Registrar, PEGNL

PEGNLis mandated to regulate the practice of engineering and geoscience in the public interest, as outlined in the Engineers and Geoscientists Act (2008) of Newfoundland and Labrador. PEGNL exists so that there will be competent and ethical practice of engineering and geoscience in Newfoundland and Labrador, and to ensure public confidence in, sustainability of, and stewardship of the professions.

ABOUT ANACONDA

Anaconda Mining is a TSX-listed gold mining, exploration and development company, focused in the prospective Atlantic Canadian provinces of Newfoundland and Nova Scotia. The Company operates the Point Rousse Operation located in the Baie Verte Mining District in Newfoundland, comprised of the Pine Cove open pit mine, the fully-permitted Pine Cove Mill and tailings facility, the newly discovered Argyle Deposit, and approximately 6,300 hectares of prospective property. Anaconda is also developing the recently acquired Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company's Point Rousse Operation.

The Company also has a pipeline of organic growth opportunities to leverage existing infrastructure, including the Viking and Great Northern Projects and the Tilt Cove Property in Newfoundland.

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.

SOURCEAnaconda Mining Inc.

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