2012-02-10 21:08:06 -

Vancouver, British Columbia, February 10, 2012 - Fundamental Research has
initiated coverage on Anaconda Mining (TSX:ANX). Analyst Siddarth Rajeev gives
the company a buy rating and a fair value price of $0.20, substantially higher
than the $0.085 price on the day the report was issued.

InvestmentPitch.com has produced a "video news alert" based on this report. If
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"Anaconda" in the search box.

Anaconda Mining is a Toronto-based mining and exploration company focused on the
currently producing Pine Cove gold mine located near Baie Verte in Newfoundland.
The company acquired an initial interest in the 660 hectare property in 2003,
obtaining 100% interest in January 2011.

The company produced and sold approximately 5,300 ounces of gold in 2011, and
expects to produce and   sell 12,500 ounces during 2012.

Resource expansion drilling down dip of the current open pit in the summer of
2011 identified gold mineralization over significant widths, reporting 59 metres
of 1.96 grams per tonne gold, including 41 metres of 2.5 grams per tonne gold.

The company recently closed the sale of its Chilean iron ore assets for up to
$11 million.

Revenues for 2011 were $7.48 million. Fundamental expects revenues to increase
to $18.91 million in 2012, and $27.57 million in 2013. Fundamental forecasts
adjusted net income of $2.38 million or $0.01 earnings per share for 2012, and
$8.42 million or $0.05 earnings per share for 2013.

The company currently trades at $0.095, and with 177 million shares outstanding,
it is capitalized at $17 million.

For more information, please visit the company's website www.anacondamining.com.
The company's investor relations are handled by Joanna Longo at 416-238-1414 or
by email at info@anacondamining.com.

You can also obtain a copy of the Fundamental research report at
www.researchfrc.com.

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