Anaconda Mining Inc.

10:35 AM EST - Anaconda Mining Inc. : Announced an open-pit Mineral Reserve for the Argyle Deposit at the Company's Point Rousse Project and has commenced certain mine development activities in anticipation of ore production in the fourth quarter of 2020. Probable Mineral Reserve of 535,592 tonnes at an average diluted grade of 2.06 grams per tonne gold containing 35,477 ounces, using a base case gold price of $1,900 ($1,425 U.S.). Gold production of 30,865 ounces over a 22-month Life of Mine based on an 87% overall mill recovery. Low upfront capital requirements of $2.98M and LOM sustaining capital $2.69 million. Anaconda Mining Inc. shares T.ANX are trading unchanged at $0.54.