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Anaconda Announces First Gold Pour at Pine Cove


TORONTO, ONTARIO--(Marketwire - July 23, 2008) - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX:ANX), is pleased to report that on July 16, 2008, the first gold was poured at its Pine Cove Gold Mine ("Pine Cove") in Baie Verte, Newfoundland. The pour yielded three gold dore bars with a collective weight of 140.43 oz. As previously announced (see Anaconda Press Release dated July 3rd, 2008), mine / mill commissioning and optimization studies are ongoing. Mill throughput is approaching engineered design specifications as gold recovery at each stage of the mill circuit reaches acceptable levels as per plant design. Currently, the inventory of broken ore, including the fine ore stockpile, coarse ore stockpile and broken ore in the pit, measures 26,141 tonnes at a calculated grade of 3.68 g/t.


On achieving this milestone Lewis Lawrick, President and CEO commented: "we are thrilled to be announcing our first gold pour at Pine Cove and I congratulate the team under the leadership of General Manager Allan Cramm for their commitment to this project. We look forward to ramping up to full production at this time of record high gold prices."


Construction at Pine Cove began in June 2007 and was completed within established capital budget allocations, despite severe winter construction conditions. Pine Cove is designed to process 500 tonnes of ore per day and produce approximately 16,000 ounces of gold annually from probable reserves of 2.3 million tonnes of ore grading 2.8 grams of gold per tonne (207,000 ounces of contained gold). Inferred resources at Pine Cove total 0.067 million tonnes of ore grading 2.4 grams of gold per tonne (5,200 ounces of contained gold).


Please see the Anaconda Mining website for photos of the first gold pour: www.anacondamining.com.

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  • 5 months later...

because Crew Golds african activities:


Military Coup in Guinea Clouds Plans for Mining Companies


Rio Tinto, Alcoa Inc., Russia's United Co. Rusal, South Africa's AngloGold Ashanti Ltd. and some smaller miners have been told by the Guinean government that their existing contracts with the government will be re-evaluated, after the death last week of the country's mining-friendly President Lansana Conté was followed by a military coup.


perhaps this could be a indicator for a better support for: http://www.newislandresources.com/property_glover.php

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New Island Exercises Its Right of First Offer on the Nugget Pond Mill Facilities




New Island Resources Inc. (New Island)(TSX VENTURE: NIS) of St. John's, NL announces that it has exercised its right of first offer from Crew Gold Corporation (Crew) to acquire the Nugget Pond mill facilities situated on the Baie Verte Peninsula in Newfoundland.


The offering price is $3,500,000 and the assumption of reclamation bonding of $1,500,000. Closing is to take place within 90 days. At closing, subject to negotiation between New Island and Crew of satisfactory terms and conditions, Crew will enter into an agreement (the Milling Agreement) with New Island that will provide that during the period from closing to June 30, 2010, Crew will have use of the facility, including custom milling ore for third parties.


New Island is pleased to reacquire the Nugget Pond facilities which it originally acquired from Richmont Mines Inc. and subsequently sold to Crew in 2006. The mill and related tailings facilities are in excellent condition and well positioned to undertake custom milling for various gold deposits in the area. Additionally, New Island holds several highly prospective properties adjacent to the mill.

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Anaconda Mining Commences Formal Takeover Bid to Acquire New Island Resources

6/11/2010 8:22 AM - Canada NewsWire



Mountain Lake Announces Proposed Acquisition of New Island Resources

6/3/2010 8:30:03 AM - Business Wire




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Mountain Lake and New Island Sign Binding Definitive Agreement



New Island Resources Inc. Board of Directors Unanimously Recommends Shareholders Reject Hostile Take-Over Bid of Anaconda Mining Inc.



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