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Press release from CNW Group

Anaconda Mining Appoints New Chief Financial Officer

Thursday, January 26, 2012

Anaconda Mining Appoints New Chief Financial Officer07:00 EST Thursday, January 26, 2012TORONTO, Jan. 26, 2012 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX-V: ANX) is pleased to announce the appointment of J. Errol Farr, CMA, as Chief Financial Officer of the Company, effective immediately.Mr. Farr is the former President and CEO, and former CFO of Adex Mining Inc., where he led the development plans of the Mount Pleasant mine site in New Brunswick, Canada. Errol is also the former CFO of MagIndustries Corp. where he participated in the development of its potash project and led the development of its forestry assets including the construction of its wood chipping mill in the port city of Pointe Noire, Republic of Congo. He is a Certified Management Accountant and has been a senior executive or director of several other junior mining companies for the past 15 years. Mr. Farr brings extensive financial, management and operational experience to the Company.President and CEO of Anaconda, Dustin Angelo, stated, "We are very pleased that Errol has joined the Anaconda team. I believe, with his experience and skill set, he will make a significant contribution to the Company and help us execute on our strategy going forward. I would also like to thank Stephen Gledhill for his contributions to Anaconda and wish him all the best in his future endeavors."ABOUT ANACONDAHeadquartered in Toronto, Canada, Anaconda is a growth oriented, gold mining and exploration company with a producing operation located on the Baie Verte Peninsula in Newfoundland, Canada called Pine Cove mine.FORWARD LOOKING STATEMENTSThis 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.For further information: Anaconda Mining Inc. Dustin AngeloPresident and CEO (647) 260-1248  Email: dangelo@anacondamining.com     or      Terre PartnersJoanna LongoInvestor Relations(416) 775-8771Email: jlongo@terrepartners.com Company website: www.anacondamining.com