Avanti Mining Inc.
TSX VENTURE : AVT
PINKSHEETS : AVNMF

Avanti Mining Inc.

October 22, 2013 12:38 ET

Avanti Mining Draws Down US$5 Million on Loan Facility

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) - Avanti Mining Inc. (TSX VENTURE:AVT)(PINKSHEETS:AVNMF) ("Avanti" or the "Company") is pleased to announced that it has drawn down the remaining US$5 million of the loan facility between Avanti, its wholly-owned subsidiary, Avanti Kitsault Mine Ltd., CEF (Capital Markets) Limited, Resource Capital Fund IV, L.P. and Resource Capital Fund VI, LP dated July 12, 2013 (the "RCF-CEF Loan"). Details of the RCF-CEF Loan were announced in the Company's press releases dated July 4, 2013 and July 15, 2013.

The proceeds from the drawdown will be used for general working capital.

Avanti is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia.

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 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, 2012, 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.

Contact Information

  • Avanti Mining Inc.
    Mark Premo
    Chief Executive Officer
    604-620-7670, extension 223

    Avanti Mining Inc.
    A.J. Ali
    Chief Financial Officer
    604-620-7670, extension 222
    www.avantimining.com