Avanti Mining Inc.

Avanti Mining Inc.

June 10, 2009 07:00 ET

Avanti Mining Amends Advisory Services Agreement With Featherstone Capital Advisors, Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2009) - Avanti Mining Inc. (TSX VENTURE:AVT) ("Avanti") announces it has amended the corporate development and financial advisory services agreement (the "Services Agreement") between Avanti Mining Inc. ("Avanti") and Featherstone Capital Advisors ("Featherstone") originally executed on May 30, 2007.

Effective July 1, 2009, no additional monthly fees will be payable to Featherstone. The Services Agreement will continue based on successful completion of a transaction. Upon the successful closing of any Transaction introduced to the company by Featherstone, Avanti will pay Featherstone a 2.0% finder's fee in cash or common shares, at Featherstone's election. Transactions are defined as asset or company acquisitions or divestitures and equity or debt financings. The payment of any finder's fee is subject to the approval of the TSX Venture Exchange.

Craig J. Nelsen, President and CEO of Avanti, commented that, "We greatly appreciate Featherstone's past and continuing efforts on Avanti's behalf. They were instrumental in the acquisition of the Kitsault molybdenum project in British Columbia, and we will continue to maintain a mutually beneficial relationship with them to grow Avanti."

In addition to development of its Kitsault mine, Avanti intends to acquire advanced molybdenum prospects and move them towards development; to purchase by-product molybdenum production streams from copper producers; and to become a consolidator in the junior molybdenum market.

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; anticipated dates for receipt of permits and approvals, construction and production, and other milestones; anticipated results of drilling programs, feasibility studies and other analyses; estimated timing and amounts of future expenditures, and the Corporation's future production, operating and capital costs, operating or financial performance, 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 dated July 31, 2007, which is 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.

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.

Contact Information

  • Avanti Mining Inc.
    Craig J. Nelsen
    Chief Executive Officer
    303-565-5491, extension 13
    Avanti Mining Inc.
    Cheryl A. Martin
    Senior Vice President, Investor Relations
    303-565-5491, extension 12