Anaconda Mining Inc. ("Anaconda" or "the Company") - (TSX: ANX) is pleased to announce that, pursuant to an agreement dated today, it has closed the sale of its Chilean iron ore exploration assets to a private Chilean company, Hierro Tal Tal S.A. ("Tal Tal"), for up to US$11 million in cash payments, a gross sales royalty and a 1.25% carried interest in Compania Portuaria Tal Tal S.A. ("CPTT").