Avanti Mining Inc.
CNQ : AVMI

Avanti Mining Inc.

August 20, 2007 10:21 ET

Avanti Mining Inc. Begins Trading on the CNQ Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE U.S.

Craig J. Nelsen, President and CEO of Avanti Mining Inc. (the "Corporation" or "Avanti") (CNQ:AVMI) is pleased to announce that Avanti Mining Inc. will begin trading on the CNQ Stock exchange under the symbol "AVMI", effective today, Monday, August 20, 2007.

Avanti announced on August 15 that it had completed its initial public offering for gross proceeds to the Corporation of $2,400,000. Haywood Securities Inc. acted as lead agent on the IPO. This offering was fully subscribed and a total of 48,000,000 Units in the capital of the Corporation were issued at a price of $0.05 per Unit pursuant to a prospectus of the Corporation dated July 31, 2007, bringing the total issued and outstanding common shares in the Corporation to 51,025,001. Each Unit is comprised of one common share in the capital of the Corporation and one transferable share purchase warrant. Each Warrant will entitle the holder to acquire one additional Common Share of the Corporation upon payment of the exercise price of $0.10 within twenty-four months from the closing of the Offering. In connection with this offering, the Corporation paid an agent's commission of $168,000.

The Corporation intends to engage in the acquisition, exploration and development of mineral resource projects including properties hosting molybdenum, base metals, precious metals and uranium. It presently owns two mineral claims on Crown land in the Similkameen Mining Division of British Columbia which are in the exploration stage.

Craig J. Nelsen comments that, "in addition to carrying out planned exploration on these two properties, Avanti looks forward to pursuing additional mineral project opportunities, including molybdenum properties at various stages of development including, but not limited to, exploration and development projects, defined resource opportunities, the purchase of by-product production streams from existing base-metal producers and/or the purchase of direct interests in primary molybdenum producers".

The Corporation's management team is currently comprised of Craig J. Nelsen, President, Chief Executive Officer, and Director who has over 30 years of experience in the mining industry, most recently as Executive Vice President - Exploration for Gold Fields Limited. Prior to this, he was a founder of Metallica Resources where he currently serves as the Chairman and a Director. Amjad J. ("A.J.") Ali will fill the position of Chief Financial Officer of the Corporation. He most recently served as the Chief Financial Officer and a Director of Centenario Copper Corporation, a private company, and was formerly the Executive Vice-President and Chief Financial Officer of EuroZinc Mining Corporation. In addition to Messrs. Nelsen and Ali, the Corporation's Board of Directors includes Robert Cross, Chairman and Director of Northern Orion Resources Inc., and Peter D. Barnes, President and Chief Executive Officer of Silver Wheaton Corp. A Strategic Advisory Committee has been formed which includes R. Edward Flood, currently Managing Director, Investment Banking, for Haywood Securities (UK); Pierre Lassonde, Vice Chairman of Newmont Mining Corp.; and Christopher M.T. Thompson, past CEO and Chairman of the Board of Gold Fields Ltd. The firm of Featherstone Capital Advisors Inc. has been appointed as financial and corporate advisor to the Corporation.

Further information on the Company is available at www.sedar.com

On behalf of the board of directors,

Craig J. Nelsen, Chief Executive Officer

Avanti Mining Inc.

Forward Looking Statements: This news release contains certain forward looking information concerning the business of the Corporation. 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. These risks are further described 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.

The CNQ Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Avanti Mining Inc.
    Craig J. Nelsen
    Chief Executive Officer
    (720) 280-9450