Anaconda Gold Corp.

Anaconda Gold Corp.

December 18, 2006 11:47 ET

Anaconda Gold Hires General Manager for Pine Cove Gold Mine

TORONTO, ONTARIO--(CCNMatthews - Dec. 18, 2006) - Anaconda Gold Corp. (TSX VENTURE:ANX), (FWB:GJ2) is pleased to announce that Allan Cramm has joined the company as General Manager - Pine Cove Project, effect immediately.

Mr. Cramm will be responsible for all facets of Anaconda's Pine Cove gold mine project and will manage final permitting with the provincial government, site development, engineering, construction and ultimately mine operations. Mr. Cramm brings more than 25 years of mine operating and management experience in both open pit and underground environments to Anaconda Gold.

The Pine Cove gold mine project, located near Baie Verte, Newfoundland, is being readied for production in 2007.

A resident of Baie Verte, Mr. Cramm has had a distinguished mining career and was most recently Mine Superintendent, Nugget Pond gold mine for Richmont Mines Inc. and General Superintendent of the Nugget Pond mill and the Hammerdown gold mine, both located in Newfoundland.

"Were delighted to have Allan join our team, especially at this critical stage in the development of the Pine Cove gold mine," John Cook, Chairman of Anaconda said. " Allan has a strong mine operations background and a record of success. He will play a key role in bringing Pine Cove to production next year and in managing the mining operation," Cook added.

Anaconda Gold has a 30% interest in the Pine Cove project and has the right to earn an additional 30% interest by arranging project financing and bringing the property to commercial production. New Island Resources Inc. is Anaconda's partner at Pine Cove.

The terms of the underlying agreement also provide Anaconda with 100% of all project cash flows until capital payback is achieved, recovery of certain sunk costs and project management fees for acting as project operator.

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.

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