AnacondaMining_web

Goldboro Project in Guysborough County, Nova Scotia, which contains 457,400 Mea- sured and Indicated ounces of gold and 372,900 Inferred ounces. “It’s a significant acquisition for us,” says Angelo. “It’s going to change the way we do business. If the potential is there to develop the mine, we’re looking at mining it and bringing that ore back to our processing facility at the Point Rousse project, because we think that we can reduce the amount of capital that we have to put into infrastructure at that site and instead leverage what we’ve already got in existence at Point Rousse, and get that project into production sooner at a lower cost. So,we’re pretty excited at what the future has in store for us with this acquisition. It will potentially extend the longevity of the company and increase production significantly.” Operating a profitable mine, while also acquiring and developing other potentially profitable assets, has helped make Anaconda Mining a major player in the eastern part of the country. “We’re the only gold producer, right now, in the Atlantic Canada region,” says Angelo. “We’re a small company in the gold mining industry, but we’ve bucked the trend. Typically, when you see production companies in the gold mining in- ANACONDA MINING INC. dustry, they’re much larger and they’ve got a much larger resource base and they’re producing a lot more gold. But for the last seven years,we’ve been able to operate on a small scale and be profitable. The Point Rousse project,when it initially came on, back in 2010,was essentially a turn-around project.And we were able to do that - to turn it around and make it into a profitable venture. That’s something that we’re pretty proud of.” Regarding the acquisition of other mine as- sets, Angelo explains that it’s an essential part of the company’s business model. “We’ve always had a two-pronged approach to growth–or- ganic and acquisition. For a number of years, we pursued the organic side, optioned properties and did our own exploration to build mineral resources. As with most organic growth, it has been slow, particularly for us, because of the limited amount of capital we have had. Alter- natively, the acquisition approach can help you grow quickly but we were unable to find the right first deal until Orex came along.With this transaction, we are able to acquire a significant amount of mineral resources at an attractive value using our shares.” Over the next several years, Angelo says that Anaconda will continue to focus on its assets in Atlantic Canada. “We have a beachhead there where we have a lot of operating infrastructure. We have a high performing mill that’s doing