Avanti Mining Receives Environmental Assessment Act Order Under Section 7(3)
Vancouver, British Columbia: Avanti Mining Inc. (TSX-V: AVT) ("Avanti" or the "Company") announced today that the Company's voluntary "opt-in" application to have its Kitsault mine project ("Project") reviewed under the British Columbia Environmental Assessment Act ("BCEAA") has been accepted by the Environmental Assessment Office, in Victoria.
Although the Project was not reviewable under the BCEAA, the Company chose to apply for the BCEAA review in order to provide the fullest opportunity for input from the public and First Nations on the potential environmental, social and health impact of this significant Project. "We are pleased with the order because the provincial EA process is well positioned to manage a proposed Project of this scope and the BCEAA has distinct timeframes for approval and facilitates harmonization with the federal environmental requirements" said Craig Nelsen, President & CEO.
The next step is to receive a section 11 order that specifies the "Application Information Requirements" (AIR) to be included in the EA application. The Company has been collecting baseline environmental data on the Project for 18 months as well as evaluating the existing database of environmental information that exists because of the previous operations dating back to the 1960's and an approved Reclamation Plan from 1996.
Avanti is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia. Kitsault has Proven and Probable reserves of 215 million tonnes grading 0.085% Mo and containing 368 million pounds of recoverable molybdenum as outlined in the Technical Report dated December 15, 2009 which is available on the Company's website as well as at www.sedar.com. Mr. Kenneth Collison, Senior Vice President of Project Development for the Company and a Qualified Person as defined in NI 43-101, has reviewed and approved the scientific or technical information in this press release.
For further information, please visit www.avantimining.com, or contact:
Craig J. Nelsen, Chief Executive Officer, 303-565-5491, extension 4471, or
A.J. Ali, Chief Financial Officer, 303-565-5491, extension 4472
Tom Corcoran, Manager, Investor Relations, firstname.lastname@example.org or 1-877-249-0640
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains certain forward-looking information concerning the business of Avanti Mining Inc. (the "Corporation"). All statements, other than statements of historical fact, included herein including, without limitation; statements about the recoverability of molybdenum at the Kitsault property and other matters related to the development of the Kitsault molybdenum mine, are forward-looking statements. These forward-looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs or in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in the Corporation's Prospectus filed on February 16 2010 and Annual Information Form for the year ended January 31, 2009, which are available at www. Sedar.com. The Corporation is under no obligation to update forward-looking statements if circumstances or management's opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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