SOURCE: Avanti Mining Inc.

Avanti Mining Inc.

March 04, 2013 08:30 ET

Avanti Mining Announces Kitsault Mine EA Referred to Ministers and Favourable Fisheries Act Determination Made

VANCOUVER, BC--(Marketwire - Mar 4, 2013) - Avanti Mining Inc. (TSX VENTURE: AVT) (PINKSHEETS: AVNMF) ("Avanti") is pleased to announce that it has received notice from the British Columbia Environment Assessment Office (EAO) that the Kitsault Mine Project located in Northern BC has been referred to the Ministers of Environment (MOE) and Mines, Energy and Natural Gas (MENG) for consideration to approve an Environmental Assessment Certificate (EAC) on the project. The company has also received notice from the Department of Fisheries and Oceans (DFO) that the project would not require listing under Schedule 2 of the Metal Mining Effluent Regulations (MMER).

Avanti received notification on March 1, 2013 that the Associate Deputy Minister and Executive Director of the EAO referred the proposed Project to Ministers Lake (MOE) and Coleman (MENG) for their decision. Consistent with section 17 of the Environmental Assessment Act, a decision must be made within 45 days (April 15, 2013) unless the time is extended under section 24(4). Ministers can issue an EAC, refuse to issue an EAC or order that further assessment be carried out, in accordance with the scope, procedures and methods specified by ministers.

Avanti also received notification from the Regional Manager of the DFO on March 1, 2013, that the project would not require a listing under Schedule 2 of the MMER. This modifies a prior January 21, 2013 determination, based on additional information provided to DFO since that time. DFO has determined the projects Tailings Impoundment Facility (TIF) will not utilize waters frequented by fish.

"This is a milestone day for Avanti in the advancement of the Kitsault Mine EA and permitting requirements," said Craig J. Nelsen, President and CEO of Avanti Mining Inc. "We have been working for over 16 months since we submitted our EA Application with the agencies to get to the point where it can be decided by the ministers. We are confident that we have provided sufficient mitigation and accommodation during the EA process that the project should receive approval at this time."

Avanti Mining Inc. is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia. Mr. Mark Premo (P.Eng. MO), Chief Operating Officer 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.

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 and silver at the Kitsault property, the results of the feasibility study, the timing of the receipt of environmental approvals and other regulatory permits, operating cost, capital cost, cash flow, the anticipated dates of commencement of construction and production, production schedule, molybdenum products meeting the specifications of the London Metals Exchange, silver concentrate quality 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 Annual Information Form for the year ended December 31, 2010, 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.

Contact Information

  • For further information, please visit www.avantimining.com, or contact:

    Craig J. Nelsen
    Chief Executive Officer
    303-565-5491, extension 4471

    Mark Premo
    Chief Operating Officer
    604-620-6659

    A.J. Ali
    Chief Financial Officer
    303-565-5491, extension 4472