Anaconda Gold Corp.

Anaconda Gold Corp.

September 20, 2005 09:00 ET

Anaconda Gold Corp. Announces Completion of $300,000 Private Placement Offering

TORONTO, ONTARIO--(CCNMatthews - Sept. 20, 2005) - Anaconda Gold Corp. ("Anaconda" or the "Corporation") (TSX VENTURE:ANX) is pleased to announce that it has completed a non-brokered private placement of 2,000,000 units of the Corporation at a price of $0.15 per unit. Each unit consists of one common share (a "Common Share") of the Corporation and three-quarters of a common share purchase warrant (a "Warrant"). One whole Warrant entitles the holder to purchase one Common Share at a price of $0.23 per Common Share for a two year period from the date of closing. Northfield Capital Corporation subscribed for one-third of the units under the private placement.

The securities in the private placement are subject to a four-month hold period. In connection with the private placement, a finder's fee of 160,000 common shares will be issued to a person at arm's length to Anaconda.

The offering and finder's fee are subject to receipt of TSX Venture Exchange approval.

The proceeds from the offering will be used primarily to finance further exploration of Anaconda's mineral properties, to advance permitting of the Pine Cove project and for general working capital.

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release and has in no way passed upon the merits of the Private Placement.

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