Thorsen-Fordyce Merchant Capital Inc.

April 24, 2007 14:48 ET

Thorsen-Fordyce Merchant Capital Inc.-Early Warning Press Release

TORONTO, ONTARIO--(CCNMatthews - April 24, 2007) - Thorsen-Fordyce Merchant Capital Inc. (the "Offeror") announces that on April 18, 2007, it acquired ownership and control of 7,464,179 common shares of Anaconda Mining Inc. (the "Company"). Prior to April 18, 2007, the Offeror held 6,750,000 common shares of Colorado Minerals Inc. ("Colorado"). On April 18, 2007, the Company acquired all of the issued and outstanding common shares of Colorado in exchange for the issuance to Colorado's shareholders of 19,701,560 common shares of Anaconda (the "Share Exchange"), pursuant to the terms of a share exchange agreement made as of December 5, 2006 between the Company, Colorado and Colorado's shareholders. Immediately following the Share Exchange, the Company completed a public offering of 16,531,250 units of the Company (the "Offering"), each unit consisting of one common share and a one half common share purchase warrant of the Company. After giving effect to the Share Exchange and the Offering, the Offeror alone has ownership and control over 7,464,179 common shares of the Company representing approximately 13.5% of the issued and outstanding common shares of the Company. Lewis Lawrick, a senior officer and director of the Company, is a controlling shareholder of the Offeror.

The common shares of the Company were acquired for investment purposes. The Offeror does not currently have any future intention to acquire ownership of, or control over, additional securities of the Company. A report with additional information in respect of the foregoing will be filed on SEDAR and will be available at www.sedar.com.

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