Avanti Mining Inc.

Avanti Mining Inc.

May 06, 2009 14:15 ET

Avanti Mining Hires Thomas J. Gunthardt as Project Manager for Its Kitsault Molybdenum Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 6, 2009) - Avanti Mining Inc. (TSX VENTURE:AVT) ("Avanti") is pleased to announce it has hired Thomas J. Gunthardt as Project Manager responsible for managing all technical aspects of the development of its 100% owned Kitsault molybdenum mine, located in British Columbia. The mine is currently in the prefeasibility study (PFS) stage, which was launched last month. Wardrop Engineering, a Tetra Tech Company, is the manager of the PFS with major contributors being Knight Piesold (tailings and site water balance), SRK (resource audit, reclamation and ARD assessment) and Rescan (environmental base line studies and permitting).

Mr. Gunthardt has extensive international experience in managing the execution of natural resource development projects, ranging from prefeasibility studies to construction. His project management skill set includes strategic project execution planning as well as management of environmental and community relations issues.

He worked for Newmont Mining Corporation from 1996 to 2009 and filled various roles, most recently as Project Manager of an iron ore prefeasibility study in Guinea. Before working at Newmont, he held various Engineering posts at Bechtel Corporation, Kilborn International, and Minproc Engineers.

Craig J. Nelsen, President and CEO of Avanti, commented that, "Thomas will add significantly to Avanti's team. He has a wealth of experience around the world in managing feasibility studies that will benefit this project, specifically, and Avanti's growth objectives, generally."

Also, Avanti has granted a total of 300,000 incentive stock options to Mr. Gunthardt, at an exercise price of Cdn$0.12 per share. These options are granted for a five-year period and are subject to vesting provisions.

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