Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased to announce that on July 2, 2019, Anaconda and the Assembly of Nova Scotia Mi'kmaw Chiefs (the "Assembly") signed a Memorandum of Understanding (the "MOU") that will govern the process by which the parties shall negotiate a Mutual Benefits Agreement (the "MBA") regarding the Goldboro Gold Project in Nova Scotia.

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased to announce results from nine short diamond drill holes (BR-19-77 to BR-19-85) drilled to test shallow portions of the East Goldbrook Gold System ("EG Gold System") at the Goldboro Gold Project in Nova Scotia ("Goldboro"). The 607 metres of diamond drilling were part of a larger, recently completed 5,000 metre diamond drill program announced on February 28, 2019 and were designed to test the up-plunge projection of five mineralized zones within the EG Gold System at vertical depths of less than 70 metres, and over a strike-length of approximately 100 metres (the "Drill Program") (Exhibit A and B).

Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased to announce that it has entered into two option agreements to acquire 100% of the Country Harbour and Lower Seal Harbour properties, which comprise approximately 1,150 hectares of prospective mineral land. The Country Harbour and Lower Seal Harbour properties are within close proximity (15 and 5 km, respectively) from the Company's 100%-owned, high-grade Goldboro Gold Project in Guysborough County, Nova Scotia ("Goldboro") (Exhibit A). Anaconda is currently working on a feasibility study at Goldboro, which it expects to complete in 2019.