Anacortes Mining to Release Preliminary Economic Assessment on Tres Cruces High-Oxide Gold Cap, Pre-Commercial on Tuesday, March 8, 2022


VancouverAnacortes Mining Corp. (TSXV: XYZ) (OTCQB: XYZFF) (“Anacortes” or the “Company”) is pleased to announce that it will release its first pre-market Preliminary Economic Assessment (PEA) Tuesday, March 8, 2022 and will host a conference call to discuss the results the same day at 4:30 p.m. EST.

As indicated in the March 2021 Report NI 43-101, Indicated Mineral Resources at Tres Cruces are estimated to contain 46.5 million tonnes grading 1.65 g/t gold for a total of 2,474,000 ounces of contained gold. Inferred mineral resources are estimated at 2.6 million tonnes grading 1.26 g/t gold for 104,000 contained ounces. The near surface Indicated Mineral Resource consists of 9.64 M tonnes of oxide mineralization grading 1.37 g/t gold for 425,000 contained ounces of gold, and immediately underlying leachable sulphides of 5 .71 million tonnes grading 1.12 g/t gold for 205,000 contained ounces forms the basis for a reasonably sized heap leach operation.

Grant of options

At February 2, 2022, the Company granted 150,000 stock options to three officers of the Company and 75,000 stock options to an employee of the Company. All of these options vest immediately and entitle their holder to purchase one common share of the Company at an exercise price of CA$2.40 per share for a period of five years from the date of grant.


Tel: 604-684-6730

Email: [email protected]

About Anacortes

Anacortes is a new gold company focused on growth in the Americaswhich holds a 100% interest in the Tres Cruces gold project located in Peru. Tres Cruces is one of the highest grade oxide deposits in the world and contains indicated oxide and sulphide resources of 2,474,000 oz at 1.65 g/t gold and inferred resources of 104,000 oz at 1.26 g/t gold, including 630,000 oz of high-grade leachable gold at 1.28 g/t gold. Anacortes is well capitalized and intends to move forward aggressively Tres Cruces through feasibility and through to production under an open pit heap leach scenario. In addition, Anacortes will continue to seek new growth opportunities in the Americaswith the goal of creating the next mid-sized multi-asset gold producer.

Caution regarding forward-looking information

This press release contains forward-looking statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws (“Forward-Looking Statements”). All statements included herein, other than statements of historical fact, are forward-looking statements and are subject to a variety of known and unknown risks and uncertainties that could cause actual events or results to differ materially from those reflected in forward-looking statements.

Forward-looking statements in this press release may include, but are not limited to, statements about the company’s plans to aggressively advance Tres Cruces through feasibility and through to production. Often, but not always, these forward-looking statements can be identified by the use of words such as “anticipated”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”. ‘, ‘detailed’, ‘has been’, ‘gain’, ‘expected’, ‘reflecting’, ‘will’, ‘anticipated’, ‘estimated’ ‘containing’, ‘remaining’, ‘to be’, or statements that events “could” or “should” occur or be realized and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to control or predict and which may cause actual results, performance or achievements to differ materially from results, performance or achievements. expressed or implied by the forward-looking statements. These risks include changes in general economic and financial market conditions; political risks; risks related to the current and potential negative impacts of the COVID-19 pandemic on the economy, financial markets and the Company’s operations and the risks inherent in mineral exploration. Although the forward-looking statements contained in this press release are based on what each party believes to be reasonable assumptions at the time they were made, such statements are made as of the date hereof and the company disclaims any obligation to update forward-looking statements. Statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place undue reliance on forward-looking statements.


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