Anaconda Mining Inc. reported sales and production results for the three months and six months ended June 30, 2019. For the three months, the company reported gold and silver revenue of $5.5 million through sales of 3,153 ounces of gold and year-to-date has sold 8,404 ounces to generate revenue of $14.3 million. Gold Produced 2,907 Ounces compared to 4,330 ounces a year ago.

For the six months, the company produced 7,083 ounces of gold compared to 8,925 ounces a year ago. Gold sold in this period was 8,404 ounces compared to 8,856 ounces a year ago.

The company is revising its guidance for 2019 to 16,000 to 17,000 ounces of gold from its initial guidance of 19,000 to 20,000 ounces. The Pine Cove Mine is immediately adjacent to the processing facility and is very well understood geologically and from a mining perspective, limiting technical risk, and requires low capital expenditure to continue production. Ongoing mining at Pine Cove also has the benefit of increasing the Company's permitted in-pit tailings storage capacity. This will allow the Company to continue to optimize the Argyle Deposit, incorporating recent drilling results, and complete all required permitting activities, while deferring the related capital to develop the site. The company has now received a Mining Lease for the Argyle Deposit and has submitted the development and rehabilitation plan for regulatory review.