Andover Mining Corp.
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Andover Mining Corp.

September 13, 2012 09:00 ET

Andover Reports Assay Results From the Re-Assay of Core From Historic 1974-1986 Drill Programs on the Sun District, Ambler Mineral Belt, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - Andover Mining Corp. ("Andover" or the "Company") (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) is pleased to report the results of its systematic re-sampling of historic drill cores from Andover's SUN District projects, located in the Ambler Mineral Belt, northwestern Alaska.

The majority of the core from the 49 diamond drill holes drilled from 1974 to 1986 on the SUN District is stored at the Alaska Geological Materials Center in Eagle River, Alaska. The historic drill programs were conducted by Bear Creek Mining Corp (Kennecott Copper / Rio Tinto), Sunshine Mining Company, Noranda Exploration - GCO Minerals - (Houston Oil and Minerals), Anaconda Minerals Company, Cominco American and Teck Resources. Approximately 40% of this core is available for review.

Based on a review of the historic drill logs and assay tables that Andover owns, 30 massive sulfide intercepts from 20 drill holes were selected for detailed review to determine the adequacy and reliability of existing drill logs and to determine whether the remaining core was suitable for re-sampling and re-assay. Reassays were based on sufficient material remaining for a second splitting, that the original assay intervals were clearly marked and re-usable and the core appeared to be complete and in order. From this list and based on the above criteria, 19 mineralized intercepts from 12 drill holes were selected for re-assay.

The core was photographed prior to re-sampling. Selected intervals were marked in the core boxes and the interval to be sampled was carefully split in half, either by cutting with a thin-blade diamond saw blade or, when necessary, with a small splitting wedge tool. Samples were then collected and the remaining quarter core left in the core boxes was re-photographed. Samples were secured until all samples had been collected and then they were delivered to the ALS-Chemex prep facility in Anchorage, Alaska. The pulps created in the Anchorage facility were analyzed for 35 elements by ICP assay methods and gold and silver were assayed by fire assay at the ALS-Chemex facilities in Vancouver, British Columbia. Base metal over-limits were wet assayed. Blanks and standards were inserted with the sample shipment.

Results are summarized in the following table.

DDH ID Core
Size
Assay
Year
From
(ft)
To
(ft)
Interval
(ft)
Cu
(%)
Pb
(%)
Zn
(%)
Ag
(g/T)
Au
(g/T)
Hot-01 B 1975 158.5 162.5 4.0 3.05 0.03 1.60 28.8 0.240
B 2012 158.5 162.5 4.0 2.92 0.21 1.33 32.1 0.226
Hot-02 B 1975 146.0 168.0 22.0 1.46 2.19 8.39 101.8 0.286
B 2012 146.0 168.0 22.0 1.27 2.14 8.20 104.7 0.264
Hot-07 B 1975 173.0 194.0 21.0 2.64 2.32 6.40 184.0 0.351
B 2012 173.0 194.0 21.0 2.50 1.46 6.13 174.9 0.408
Sun-02 E 1974 52.0 76.0 24.0 1.20 0.35 4.49 158.4 NA
E 2012 52.0 76.0 24.0 0.97 3.04 4.36 163.3 0.749
Sun-03 E 1974 123.0 152.0 29.0 0.55 0.93 9.70 119.2 NA
E 2012 123.0 152.0 29.0 0.52 3.70 10.17 114.4 0.540
Sun-04 E 1974 276.0 288.0 12.0 1.93 1.43 1.33 118.7 NA
E 2012 276.0 288.0 12.0 1.45 1.88 4.29 131.5 0.313
Sun-09 N 1975 326.5 351.1 24.6 1.60 0.47 2.01 32.6 NA
N 2012 326.5 351.1 24.6 1.33 0.42 2.23 31.5 1.079
Sun-11 N 1975 120.2 126.8 6.6 3.87 0.99 2.89 53.6 NA
N 2012 120.2 126.8 6.6 4.05 0.83 2.96 51.7 0.282
Sun-11 N 1975 261.5 263.0 1.5 2.00 0.78 3.82 44.0 NA
N 2012 261.5 263.0 1.5 1.89 0.60 3.61 59.8 0.979
Sun-12 N 1975 109.0 118.5 9.5 0.80 2.84 7.74 46.8 0.020
N 2012 109.0 118.5 9.5 0.72 1.79 6.68 68.1 0.161
Sun-14 N 1975 357.0 359.5 2.5 2.76 3.18 6.67 295.6 NA
N 2012 357.0 359.5 2.5 2.38 3.07 7.72 303.1 0.865
Sun-14 N 1975 366.2 368.5 2.3 0.90 0.07 0.24 37.3 NA
N 2012 366.2 368.5 2.3 0.81 0.13 0.58 42.5 0.081
Sun-22 B 1977 628.0 673.0 45.0 0.56 2.45 5.54 101.7 0.508
B 2012 628.0 673.0 45.0 0.56 2.70 5.79 110.9 0.545
Drill Core Size nominal diameters; "E" = 21mm, "B" = 36.5mm, "N" = 63.5mm

This sampling was directed by Mr. Kent Turner, COO of Andover and Mr. Michael Gustin of Mine Development Associates (MDA), of Reno, Nevada. The core re-sampling program was conducted by Mr. Kerry Adler of On-Line Exploration Services of Anchorage, Alaska.

"We are most pleased with the results of this re-sampling effort on readily available core from the historic drill programs carried out by past operators," says Kent Turner, COO of Andover. "Except for the results from the smallest (E size) core, the re-assaying allows some reasonable confidence in the reliability of the results of the drilling from the historic programs carried out by Kennecott (Rio Tinto), Noranda, Anaconda, Sunshine Mining and Cominco (Teck) prior to Andover's acquisition of the SUN District. The high grades are consistent with the grades seen in Andover's 2007, 2011 and 2012 drill programs and significant levels of gold are now identified in core that either was not assayed for gold, or employed 1970's analytical methodologies that had much higher reporting limits than those in use today. This program should increase the confidence level in the historic data for a new National Instrument 43-101 resource calculation."

The drilling program at both the Main SUN and S.W. SUN Deposits has concluded for the 2012 field season. However, new assays are pending and will be released as they are received from ALS-Chemex. Mine Development Associates has been contracted by Andover to complete a National Instrument 43-101 compliant Resource and Preliminary Economic Assessment on Andover's wholly owned SUN District Deposits upon receipt of the 2012 drill program assay results.

This news release has been reviewed by Kerry M. Adler, Certified Professional Geologist (AIPG CPG-10634). Mr. Adler is a National Instrument 43-101 qualified person and is responsible for the technical aspects of this news release.

About Andover:

Andover is a precious and base metal exploration and development company focused on copper exploration at its flagship asset, the SUN District, located in the Ambler Mineral Belt, Northwest, Alaska. The Ambler Mineral Belt hosts world-class VMS deposits containing copper, zinc, lead, gold and silver. The Ambler Mineral Belt is one of the richest and most-prospective copper mineral belts located in one of the safest geopolitical jurisdictions in the world. Andover controls approximately 36, 800 acres through sole ownership of 230 Alaska State mining claims in the SUN District and approximately 9,120 acres through sole ownership of 57 Alaska State claims in the Smucker area of the Ambler Mineral Belt.

In Utah, Andover, through its 83.5% ownership of Chief Consolidated Mining Company whose lands located in the historic East Tintic Mining District, has a multi faceted development approach. The Big Hill project, where Kennecott Exploration Company can earn a 55% interest by carrying Chief through to the end of a Feasibility Study, is focused on a large porphyry copper prospect. The Burgin Complex, host to a limestone silver-lead-zinc replacement deposit, has completed a Preliminary Economic Assessment and is preparing this deposit and the Trixie gold mine toward exploitation. Chief owns fee simple approximately 16,000 acres in Utah.

For further information we invite you to visit us at www.andovermining.com.

ON BEHALF OF THE BOARD

Gordon Blankstein, CEO and Chairman

Neither 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.

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