SOURCE: Century Capital Markets

November 02, 2011 07:30 ET

Andover Ventures Given C$1.29 Price Target

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the CENTURY CAPITAL MARKETS

NEW YORK, NY--(Marketwire - Nov 2, 2011) - Andover Ventures, Inc. (TSX-V: AOX) (PINKSHEETS: AOVTF) a precious and base metals exploration and development company, has been given a Speculative Buy Rating and a C$1.29 price target by RedChip Research. The research report can be accessed at http://www.redchip.com/files/redchipReports/AOX_20111101_Initial Report.pdf.

Andover's main assets are located in areas that some of the world's largest mining outfits already have a stake in. The East Tintic Mining District is located in Utah just south of Rio Tinto's (NYSE: RIO) Bingham Canyon property and junior mining company Inspiration Mining Corp.'s (TSX: ISM) property. Andover's property in the Ambler Mining District of Alaska is adjacent to NovaGold's (NYSE Amex: NG) resource-rich 29,000-acre site.

Andover, with over $7 billion in gross resources (includes historic resource estimates), has near-term gold and silver production which it expects to have online by the end of this year. This will help the company take advantage of the price increase precious metals have gained over the last year.

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