Timeline

2017

November 29, 2017

ANX announced the commencement of a 5,000-metre, diamond drill program at its Point Rousse project in Newfoundland and Labrador (the “Point Rousse Program”). 

November 22, 2017

ANX provided the remaining assay results related to an expansion diamond drilling program and a percussion drilling campaign at its Argyle discovery in Newfoundland and Labrador.

November 16, 2017

ANX Board of Directors elected.

November 9, 2017

Paul McNeil, ANX’s Vice-President of Exploration is elected President of the Newfoundland and Labrador Branch of the Canadian Institute of Mining, Metallurgy and Petroleum (CIM NL). 

November 8, 2017

An ANX metallurgical test program at its Argyle discovery recovered 91.9% gold from a 25-kilogram sample of blended core samples - yielding an average grade of 2.69 grams per tonne.

November 1, 2017

ANX announced the commencement of a 6,000-metre diamond drill program, and completed the first drill hole at its Goldboro project in Nova Scotia. 

October 31, 2017

ANX completed a $3 million non-brokered private placement. This capital enables the company to significantly advance the Goldboro project in Nova Scotia and the Point Rousse project in Newfoundland and Labrador.

October 30, 2017

ANX increased the size of its $2.385 million non-brokered private placement announced on October 20, 2017, to $3 million.    

October 20, 2017

ANX announced a $2.385 million non-brokered private placement for exploration activities at its Goldsboro project in Nova Scotia and Point Rousse project in Newfoundland and Labrador.  

October 17, 2017

ANX announced the change of its fiscal year-end from December 31 to May 31. 

October 13, 2017

ANX achieved record quarterly gold sales of 4,723 ounces during the first quarter of fiscal year 2018. 

September 27, 2017

ANX recovered over 95% gold from its Goldboro project metallurgical test program in Nova Scotia. 

September 21, 2017

ANX initiated an infill drill program at its Argyle discovery in Newfoundland and Labrador. 

September 14, 2017

ANX sold a record, 4.723 ounces of gold in the first quarter of fiscal year 2018, eclipsing the previous record of 4,658 ounces in the fourth quarter of fiscal year 2017.

September 7, 2017

ANX received approval from the Newfoundland and Labrador Department of Natural Resources to amend the Pine Cove Property Development Plan and Rehabilitation and Closure Plan for utilization of the pit at the Point Rousse project as an in-pit tailings storage facility. 

August 29, 2017

ANX donated $10,000 for Free Swim Program in the Town of Baie Verte, Newfoundland and Labrador, as part of a five-year, $50,000 community commitment.

August 25, 2017

ANX sold 15,562 ounces of gold, generating $25.7 million in revenue from its Point Rousse project in Newfoundland and Labrador. 

July 27, 2017

ANX received the results of its first drilling program at the Goldsboro project in Nova Scotia.  The results indicated mineral resources of 457,400 gold ounces at a grade of 5.57 grams per tonne (“g/t”) gold (2,556,000 tonnes), and an inferred mineral resource of 372,900 gold ounces, at a grade of 4.35 g/t gold (2,669,000 tonnes) (2.0 g/t gold cut-off).  

July 13, 2017

An ANX drill program intersected 3.63 g/t gold over 12.0 metres at Argyle discovery in Newfoundland and Labrador. 

June 27, 2017

ANX initiated a drill program at its Argyle discovery in Newfoundland and Labrador. 

June 23, 2017

Allan Cramm, Vice-President of Innovation and Development with ANX, is recognized with an honorary membership by the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL). 

June 22, 2017

ANX commenced exploration and development activities at its Goldboro project in Nova Scotia. 

June 21, 2017

ANX commenced a research and development project to develop, prototype and optimize a new technology to mine steeply-dipping narrow gold veins. 

June 15, 2017

ANX sold a record, 4,658 ounces of gold during the fourth quarter of fiscal year 2017, generating over $7.72 million in revenue. 

May 24, 2017

ANX announced the appointment of Gordana Slepcev, P.Eng, as its Chief Operating Officer.     

May 23, 2017

ANX President and CEO Dustin Angelo recognized among the Top CEOs in Atlantic Canada by Atlantic Business Magazine. 

May 8, 2017

ANX shareholders approved an arrangement with Orex Exploration. 

April 24, 2017

ANX shareholders and security holders of Orex Exploration encouraged to vote for applicable resolutions in connection with a proposed, court-approved plan of arrangement pursuant to  ANX acquiring 100% ownership of Orex (the “Arrangement”).

April 18, 2017

Robert Dufour, CPA appointed ANX’s Chief Financial Officer. 

April 14, 2017

ANX sold 3,597 ounces of gold during the third quarter of fiscal 2017, at its Point Rousse project in Newfoundland and Labrador, resulting in $5, million in revenue.

March 21, 2017

ANX received the 2017 Employer of Distinction Award from the Newfoundland and Labrador Employers’ Council.

March 16, 2017

ANX sold nearly 3,600 ounces of gold during the third quarter of fiscal year 2017 generating over $5.6 million in revenue. 

March 14, 2017

ANX investors to discussed the acquisition of Orex Exploration’s, Goldboro discovery in Nova Scotia.

March 3, 2017

ANX entered into an agreement with Orex Exploration to acquire the Goldboro property in Nova Scotia. 

January 26, 2017

ANX President and CEO Dustin Angelo named Industry Person of the Year by Natural Resource Magazine.    

January 18, 2017

During the second phase of diamond drilling at its Argyle property in Newfoundland and Labrador, ANX intersected 5.52 g/t gold over 15 metres, and 9.31 g/t gold over 6 metres. 

January 13, 2017

During the second quarter of fiscal year 2017, ANX sold 4,388 ounces of gold from its Argyle project in Newfoundland and Labrador, resulting in $7.4 million in revenue.   

January 12, 2017

ANX completed preliminary work at its Jackson’s Arm property in Newfoundland and Labrador, with assay results of up to 24.5 g/t Au. 

January 11, 2017

ANX raised $551,000 through a prepayment arrangement with Auramet International LLC (“Auramet”), in exchange for 468 ounces of gold (USD$1,178 per ounce).

January 5, 2017

ANX worked with Shore Line Aggregates, a subsidiary of Guy J. Bailey Ltd., and Phoenix Bulk Carriers (BVI) Ltd., to supply 3.5 million tonnes of construction aggregate using waste rock from the ANX Point Rousse gold mining operation. The aggregate is being used on construction projects in the United States. 

January 3, 2017

ANX announced the resignation of Chief Financial Officer Errol Farr.

2016

December 13, 2016

ANX commenced second phase drilling at its Argyle property in Newfoundland and Labrador.        

December 7, 2016

ANX sold nearly 4,400 ounces of gold during the second quarter of fiscal year 2017, generating over $7.4 million in revenue.     

November 18, 2016

ANX election of Directors announced.   

November 17, 2016

ANX completed the first phase of exploration at its Viking project in Newfoundland and Labrador.      

November 11, 2016

ANX’s “We Remember” initiative raised $44,800 to support military service members, veterans and families. 

November 8, 2016

ANX acquired property on Newfoundland and Labrador’s Great Northern Peninsula.  

November 7, 2016

ANX named 2016 Miner of The Year by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Newfoundland and Labrador Branch.

October 27, 2016

ANX entered into an aggregates royalty agreement with Shore Line Aggregates, a division of Guy J. Bailey Ltd., to supply waste rock for use on construction projects in construction projects in the United States.     

October 27, 2016

ANX completed a 19-hole, 1,347-metre diamond drilling program near Newfoundland and Labrador’s Stog’er Tight deposit. 

October 18, 2016

ANX sold 2,919 ounces of gold during the first quarter of fiscal year 2017, generating $4.9 million in revenue.       

October 12, 2016

ANX intersected 2.09 g/t gold over 14 metres at the Argyle property in Newfoundland and Labrador.

September 20, 2016

ANX reported 6.09 g/t gold over 8.9 metres and 4.50 g/t gold over 6.3 metres from initial drilling at the Argyle discovery in Newfoundland and Labrador        

September 16, 2016

ANX recognized as one of the fastest growing companies in Canada.   

September 8, 2016

ANX completed a $1 million mill automation project (the “Automation Project”) at the Pine Cove mill in Newfoundland and Labrador.      

August 29, 2016

ANX issued a mineral resource estimate and filed a technical report for its Thor deposit on the Viking project in Newfoundland and Labrador. 

August 26, 2016

During fiscal year 2016, ANX sold 16,023 ounces of gold and generated $7 million of EBITDA from the Point Rousse project in Newfoundland and Labrador. 

August 3, 2016

ANX announced a 17,000-metre diamond drill program for its Point Rousse and Viking properties in Newfoundland and Labrador.  

July 27, 2016

ANX announced the completion of a $2.03 million, brokered flow through private placement.

July 14, 2016

ANX donated $65,000 to a pool and swim program in Baie Verte, Newfoundland and Labrador.

July 13, 2016

ANX secured $1.5 million in financing from the Royal Bank of Canada. 

July 4, 2016

Championship rings made from ANX gold were unveiled by Princess Anne for the 200th Royal St. John’s Regatta in Newfoundland and Labrador. 

June 15, 2016

ANX announced a $2 million brokered flow-through private placement. 

June 10, 2016

ANX named among the Best Places to Work in Atlantic Canada by Progress Magazine. 

June 7, 2016

During the fourth quarter of fiscal year 2016 ANX set production records and sold over 16,000 ounces of gold, generating over $24 million in revenue.   

June 7, 2016

ANX outlined and processed 7,880 tonnes of high-grade ore (the “High-Grade Sample”) from the East Zone at the Stog’er Tight project in Newfoundland and Labrador.     

June 2, 2016

ANX announced the results of a 751, 16-hole diamond drill program from the Stog’er Tight project in Newfoundland and Labrador.    

May 16, 2016

ANX President and CEO Dustin Angelo recognized among the Top 50 CEOS in Atlantic Canada by Atlantic Business Magazine.

May 12, 2016

ANX results from preliminary metallurgical test work indicated that ore from the Viking project’s Thor deposit in Newfoundland and Labrador could be processed at the Pine Cove mill using floatation and leach circuit configuration.    

May 10, 2016

Pins created by the Golden Tulip in St. John’s, Newfoundland and Labrador to commemorate the 100th anniversary of the Battle of Beaumont Hamel, were designed featuring ANX gold.

April 13, 2016

During the third quarter of fiscal year 2016, ANX sold 3,266 ounces of gold from the Point Rousse project in Newfoundland and Labrador, generating $1.1 million of EBITDA.   

March 21, 2016

ANX reported sales of 3,266 ounces of gold from its Point Rousse project in Newfoundland and Labrador, generating $5 million in revenue.        

February 10, 2016

ANX entered into an option agreement (the “Viking Agreement”) with Spruce Ridge Resources Ltd. (“Spruce Ridge”), to acquire 100% interest in the Newfoundland and Labrador Viking property.        

January 25, 2016

ANX announced the results of a drill program on Newfoundland and Labrador’s Pine Cove deposit.    

January 21, 2016

ANX reported the results of a trenching and channel sampling program at the Argyle discovery in Newfoundland and Labrador.   

January 14, 2016

ANX commenced a 2,500-metre diamond drill-testing program at Newfoundland and Labrador’s Stog’er Tight deposit. 

January 12, 2016

ANX became the presenting sponsor for the Rotary Club of St. John’s Northwest’s annual gala dinner and auction.  

2015

Oct. 22, 2015 - Major Milestone to Extend Life of the Point Rousse Project

The Company announced that it had hit a major milestone in its strategy to extend the life of the Point Rousse Project by providing an updated Mineral Resource Estimate at the Stog'er Tight and Pine Cove Deposits.

August 11, 2015 - 75 Hectares within the Point Rousse Project Staked

The Company staked mineral license 023295M consisting of 75 hectares within the Point Rouse Project and contiguous with existing claims and mining leases.

August 4, 2015 - Option Agreement with Seaside Realty Ltd

The Company announced that effective July 25, 2015, the Company entered into an option agreement with Seaside Realty Ltd. (“Seaside”) to acquire a 100% undivided interest in the Corkscrew gold property (“Corkscrew”), consisting of a 346.4 hectare mining lease contiguous to the Point Rousse Project. Corkscrew, which includes five gold occurrences, is located within the Goldenville Trend on the Ming’s Bight Peninsula. Corkscrew is a 3.5 km section of this trend immediately west of the portion of the Goldenville Trend already controlled by Anaconda. The Goldenville Trend contains a prospective ironstone formation, a type of rock known to host gold deposits in other parts of the Baie Verte mining district.

July 29, 2015 - 2016 Exploration Program Results Announced

The Company announced the results of its 2016 exploration program at its Stog’er Tight Project in preparation for a 2,800 tonne bulk sample this fall. To date, the exploration program has included: stripping of the overburden to expose the historical mining surface, detailed geological mapping, channel sampling and near-surface drilling in the main pit area where Anaconda ultimately expects to begin mining of the Stog’er Tight deposit. Highlights include 12.83 g/t gold over 4.38 m and 8.55 g/t gold over 4.97 m.

July 7, 2015 - Mr. Kevin Bullock joins Board

The Company announced that Kevin Bullock had joined its board of directors. Mr. Bullock is a registered Professional Mining Engineer in the province of Ontario and currently serves on the board of directors of B2Gold Corp. (“B2Gold”) and Metallum Resources Inc. He is also President of Lindsay Mine Services Ltd., a mining industry consultancy. Mr. Bullock was Volta Resources Inc.'s (“Volta”) President and CEO and was the founding President and CEO of Goldcrest Resources Ltd. (a Volta predecessor company) since its launch in 2002. He was instrumental in the growth of Volta from a shell company through to the ultimate sale of the company to B2Gold at the end of 2013. Mr. Bullock has over 25 years of experience, at senior levels, in mining exploration, mine development and mine operations. Throughout his career, he has been involved in various projects from inception through exploration to development and production.

June 10, 2015 - Fiscal 2016 Exploration Program Announced

The Company announced the initiation of its fiscal 2016 exploration program, including the extraction and milling of a bulk sample, at its Stog’er Tight Project located approximately 3.5 km east of the Pine Cove mill along the Pine Cove mine road. The fiscal 2016 Stog’er Tight field exploration program will include stripping of historical mine workings to expose the deposit, detailed mapping and sampling of the deposit at surface, near-surface drilling and the extraction of a 2,800 tonne bulk sample. The goal of the exploration program, including the bulk sample, is to gain information at or very-near surface to determine the historical mining surface, to confirm mineralization at key locations and to develop grade control and mining techniques.

Feb. 26, 2015 - Pine Cove Drilling Advances Goals

The Company announced that it had recently conducted 1,938 m of diamond drilling in 10 holes adjacent to the Pine Cove gold mine. The purpose of this drill program was to achieve the following three goals: 1) increase total mineral resources to extend the mine life of the Pine Cove pit, 2) reduce the stripping ratio of the remaining life of mine by outlining near-surface mineral resources, and 3) reduce the haul distance of waste-rock material by placing a waste dump near the northern margin of the pit design. All 10 holes were successful in advancing these goals.

Jan. 8, 2015 - Discovery of the Argyle Zone

The Company announced the discovery of a new zone of gold mineralization, referred to as the Argyle Zone, located approximately 5 km from its Pine Cove mill in the Baie Verte mining district in Newfoundland, Canada. In November 2014, the Company trenched and performed channel sampling in the Argyle Zone, which is located northeast of the Stog’er Tight Deposit and west of the town of Ming’s Bight. Anaconda was following up on numerous gold-in-soil anomalies obtained during a 2012 soil sampling program in this area, which had never before been prospected. Alteration was noted over a broad area with significant gold mineralization observed in four trenches in two areas approximately 200 m apart. The discovery of the Argyle Zone extended the length of known mineralization within an approximately 7 km long trend of highly prospective rocks, which hosts the Pine Cove and Stog’er Tight deposits as well as numerous other prospects and showings.

2014

Dec. 16, 2014 - Remaining Stog'er Tight Drilling Results Announced

The Company announced the remaining results of the 2014 diamond-drilling program at the Stog’er Tight Project. The program consisted of 2,265 m of diamond drilling in 31 holes, designed to infill known shallow mineralization, intersect down-dip mineralization in areas where gold is anticipated, but not previously intersected (holes BN14-198, 200 to 203, and 205), and to verify historical drilling programs by twinning existing drill holes in anticipation of publishing a National Instrument 43-101 - Standard of Disclosure for Mineral Projects (“NI 43-101”) compliant mineral resource (holes BN14-208 to 216). As part of this design, holes were distributed over approximately 500 m of strike length. All drill holes tested mineralization at depths less than 125 m. Highlights include 10.52 g/t gold over 3.5 m, 8.13 g/t gold over 4.5 m and 7.2 g/t gold over 4.0 m.

Nov. 11, 2014 - Stog'er Tight Drilling Results Announced

The Company announced initial results of the 2014 diamond-drilling program at the Stog’er Tight Project. The program consisted of 2,265 m of diamond drilling, which included 902 m of infill drilling concentrated in the centre of known mineralization to depths less than 85 m. Highlights include 18.6 g/t gold over 3.5 m and 4.94 g/t gold over 10.5 m.

Sept. 15, 2014 - Initiation of Diamond Drilling at Stog'er Tight Project

The Company announced the initiation of diamond drilling on its Stog’er Tight Project. The 2014 Stog’er Tight program consisted of 2,000 m of diamond drilling designed to infill portions of the deposit and expand the deposit size.

June 23, 2014 - Initiation of Diamond Drilling at Pine Cove Mine

The Company reported the initiation of diamond drilling at its Pine Cove gold mine. The ten-hole, 2,000 m program tested the potential down-dip extension of the Pine Cove gold mine. Drilling focused on extending the gold mineralization intersected by previous drilling immediately north of the Pine Cove open pit.

June 18, 2014 - Drilling Results in Discovery of Multiple Zones of Gold Mineralization

The Company reported additional diamond-drilling results from the down-dip area within the Point Rousse Project. Prior to the commencement of drilling at the Deer Cove Property, Anaconda drilled a single, strategically placed hole on the northern edge of the Pine Cove gold mine’s ultimate pit limit. Hole PC-14-234 returned multiple zones of gold mineralization including 2.46 g/t gold over 8.5 m and 3.17 g/t gold over 8.5 m. The assay results highlight the key zones of mineralization that were intersected in hole PC-14-234.

May 7, 2014 - Historic Assay Results from Deer Cove Property

The Company reported historic assay results from 20 previously-drilled holes by predecessor property holders from 1986 to 1988 and 2010 on its Deer Cove Property, which is located approximately 8 kilometres (“km”) from the Pine Cove mill on the Ming's Bight Peninsula. Following a positive review of historic geological data, it began a 2,000 m diamond-drilling program on its Deer Cove Property in June 2014.

2013

Dec. 6, 2013 - Mr. Tim Casgrain appointed Chairman

The Company announced that Tim Casgrain, who joined the Company's board of directors on October 10, 2013, was appointed Chairman. Mr. Casgrain replaces Lewis Lawrick, who will continue to serve as a director of the Company.

Nov. 20, 2013 - Option Agreements for Deer Cove and Stog'er Tight Gold Projects

The Company reported that effective November 13, 2013, it had entered into two three-year option agreements with 1512513 Alberta Ltd. (“Alberta”), a subsidiary of Coordinates Capital, to acquire a 100% undivided interest in the Deer Cove and Stog'er Tight gold projects. The three mining licenses, totalling 48 claims (approximately 1,235 hectares), and the two mining leases (approximately 47 hectares) are adjacent to Anaconda's property around the Pine Cove Project.

Oct. 10, 2013 - Mr. Tim Casgrain joins Board

The Company announced that Tim Casgrain had joined its board of directors.

Sept. 13, 2013 - Tal Tal Commercial Production Milestone Payment

The Company announced that, on September 9, 2013, it received the US$1 million payment from Tal Tal relating to the commercial production milestone set forth in the stock purchase agreement dated December 7, 2011 ("SPA"), between La Veta and Tal Tal.

Sept. 13, 2013 - Discovery of the Balcony Zone

The Company reported that diamond drilling at its Romeo and Juliet prospect had intersected a new gold-bearing zone dubbed the Balcony Zone, located between the Romeo and Connecting Zones. It appears to dip steeply to the north, trends roughly east-west and is spatially associated with a northeast-trending topographic linear. Mineralization was traced for approximately 100 meters ("m") and is open to the east, west and down-dip. Gold is associated with pyritic altered mafic volcanic rocks, which is different from the Romeo and Juliet massive quartz vein hosted style of gold mineralization. A structural interpretation is therefore underway to help guide future drilling and to understand better these positive anomalies.

June 19, 2013 - No Interest Bearing Debt on Balance Sheet

The Company announced that on June 13, 2013, the Company made its final payment on a 5.5% interest bearing loan, originally advanced in the amount of $500,000, from the Newfoundland and Labrador Government's Department of Innovation Business and Rural Development (formerly INTRD). The Company no longer has any interest bearing debt on its balance sheet. There is just one outstanding, interest-free, federal government loan with a maturity date of December 1, 2014.

May 31, 2013 - Final Payment against Outstanding Loans/Debentures Totalling $1,649,280

The Company made its final payment against the outstanding Convertible Loan, Series I Debentures and Series II Debentures. The payment totalled $1,754,580 and comprised $1,649,280 in outstanding principal and $105,300 in interest. With this payment, the Company has repaid in full the Convertible Loan, Series I Debentures and Series II Debentures, which collectively were originally issued for $6,900,000.

March 1, 2013 - Additional Principal Payments Totalling $750,000

The Company made a principal payment against the outstanding Convertible Loan, Series I Debentures and Series II Debentures. The principal payments totalled $750,000 and were divided pro rata.

2012

Nov. 29, 2012 - Additional Principal Payments Totalling $600,000

The Company made a principal payment against the outstanding Convertible Loan, Series I Debentures and Series II Debentures. The principal payments totalled $600,000 and were divided pro rata.

Nov. 2012 - Two Five-Year Options with Local Prospectors

Anaconda entered into two five-year option agreements with local prospectors to acquire a 100%-undivided interest in 18 claims in three licenses totalling approximately 450 hectares.

August 29, 2012 - Additional Principal Payments Totalling $600,000

The Company made a principal payment against the outstanding Convertible Loan, Series I Debentures and Series II Debentures. The principal payments totalled $600,000 and were divided pro rata.

July 25, 2012 - Five-year Option Agreement with Fair Haven Resources, Inc.

The Company announced it entered into a five-year option agreement with Fair Haven Resources Inc. to acquire a 100%-undivided interest in 11 exploration licenses totalling 71 claims or approximately 1,804 hectares near its Pine Cove mine.

May 30, 2012 - Second Payment for Chilean Iron Ore Assets

The Company received the second $2 million payment from Tal Tal for the sale of the Company's Chilean iron ore assets.

May 7, 2012 - Option Agreement with Tenacity Gold Mining Corp Ltd

The Company announced it had entered into a five-year option agreement with Tenacity Gold Mining Corporation Ltd. to acquire a 100%-undivided interest in four mining licenses in the Pine Cove to Stog'er tight area near Baie Verte, Newfoundland, totalling 63 claims and approximately 1,575 hectares (the "Licenses"). The Licenses are adjacent to the existing mining license where the Pine Cove gold mine currently operates, offer an ideal and logical extension of the currently controlled area and more than triple the size of the Company's land package in the area. The Company is committed to expanding the life and production of Pine Cove through exploration. The Company is obliged to keep the Licenses in good standing during the term of the option, and required to make exploration expenditures of approximately $67,000 during the remainder of calendar 2012.

March 3, 2012 - Principal Payments Reduce Balance by $1M

On March 29th and April 25th, 2012, the Company announced it had made principal payments against its outstanding convertible loan (the "Convertible Loan"), series I debentures ("Series I Debentures") and series II debentures (the "Series II Debentures") totalling approximately $1,000,000, which had an opening, aggregate balance of $6,900,000 (collectively, the "Loans"). The principal payments totalled $500,360 (approximately 7% of the outstanding balance of the Loans) on March 28, 2012 and another $500,360 on April 24, 2012, each divided pro rata across the Loans. The payments reduced the outstanding balance from $6,900,000 to $5,899,280 as of April 25, 2012, and provided tangible evidence of the Company's ability to service its debt load through operational cash flow and allocate resources to growth opportunities.

January 2012 - Management Additions & Board Changes

During January and February 2012 the Company announced additions to its management team and certain changes to its board of directors. J. Errol Farr, CPA, CMA, was appointed as Chief Financial Officer of the Company, bringing extensive financial, management and operational experience to the Company. Directors John McBride, Glenn Kosick, Thomas Pladsen and David Wiley resigned from the board. Concurrently with these resignations, Michael Byron, Chief Geologist of Nighthawk Gold Corp. (formerly Merc International Minerals Inc.), and Maruf Raza, partner at Collins Barrow Toronto LLP, were appointed to the board to fill the vacancies, resulting in a streamlined five-person board with a wide range of skill sets including geology, mill processing, operations, capital markets and accounting.

2011

Dec. 7, 2011 - Sale of Chilean Iron Ore Exploration Assets

The Company announced it had closed the sale of its Chilean iron ore exploration assets to a private Chilean company, Hierro Tal Tal S.A. ("Tal Tal"), for up to US$11 million in cash payments, a gross sales royalty and a 1.25% carried interest in Compania Portuaria Tal Tal S.A. ("CPTT"). With the cash proceeds received at closing of US$2 million, the Company repaid the full principal amount plus accrued interest of approximately $711,000 to the holders of the Series III Debentures.. Pursuant to a share purchase agreement (the "La Veta SPA"), La Veta sold its shares representing a 50% ownership stake in Minera Hierro San Gabriel S.A. ("MHSG") and a 20% ownership stake in Inversiones Hierro Antofagasta S.A. ("IHA") to Tal Tal. La Veta will have the right to receive an additional US$3 million upon achievement of commercial production, as defined by the La Veta SPA, by any of the properties, directly or indirectly, controlled by MHSG or IHA (the "Properties"). La Veta can earn up to another US$4 million based on the sales price realized for certain volumes of production from the Properties, as defined in the La Veta SPA. Furthermore, La Veta shall earn a gross sales royalty for all production sold from the Properties. For the Properties controlled by MHSG, the gross sales royalty is 0.80% and for the Properties indirectly controlled by IHA, the gross sales royalty is 0.50%. Lastly, La Veta received a 1.25% carried interest in CPTT, a private Chilean company whose principal asset is a concession giving it the right to build a port in the city of Tal Tal.

June 27, 2011 - Gold Processing to Pine Cove Mill

The Company announced following the termination of the concentrate processing agreement at Nugget Pond with Rambler Metals and Mining Canada Limited (“Rambler”) on April 13, 2011, that the Company was operating its entire gold processing circuit at the Pine Cove mill.

June 11, 2011 - Shares Issued

The Company announced that it had closed a non-brokered private placement of 16,999,728 common shares at $0.07 per share. The common shares were issued, in part, to retire $1,049,981 of promissory notes, including accrued interest, that were coming due at the end of June 2011. The remainder of the common shares issued generated gross cash proceeds of $140,000. In addition, the Company issued 1,394,000 flow through common shares on a non-brokered private placement basis at $0.07 per share for gross proceeds of $97,580.

Jan. 14, 2011 - Pine Cove Acquisition

Anaconda acquired a 100%-interest in the Pine Cove gold mine and mill. In fiscal 2012 and 2013, Anaconda acquired the Tenacity property, the Fairhaven property, the Froude property, the Duffitt and Strong property as well as other staked claims, all contiguous with the Pine Cove gold mine. Together, all of these properties are known as the Pine Cove Project.


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