SOURCE: Avanti Mining Inc.

Avanti Mining Inc.

March 20, 2013 08:30 ET

Avanti Receives Environmental Approval From British Columbia for Kitsault Molybdenum Project

VANCOUVER, BC--(Marketwire - Mar 20, 2013) - Avanti Mining Inc. (TSX VENTURE: AVT) (PINKSHEETS: AVNMF) ("Avanti") is pleased to announce that an Environmental Assessment Certificate ("EAC") has been issued for the Kitsault molybdenum mine by the British Columbia Minister of Environment and the Minister of Energy, Mines and Natural Gas. The decision was made after the review led by the BC Environmental Assessment Office ("EAO") that concluded the project is not expected to result in any significant adverse effects based on the mitigation measures and conditions of the EAC. The EAO and Ministers concluded that the Crown's obligation to consult with First Nations and the Nisga'a Nation under Chapter 10 of the Nisga'a Final Agreement had been met.

"We are delighted with the decision by the BC Government and await a similar approval from the Canadian Environmental Assessment Agency under their joint review memorandum," said Craig J. Nelsen, President and CEO of Avanti. "We continue to reach out to First Nations and the Nisga'a Nation to work constructively toward implementing the requirements set forth in the EAC."

"We can now focus our efforts on obtaining the necessary financing and permits to start construction later in 2013 of this very significant project that will provide benefits to all stakeholders including the Nisga'a Nation," said A.J. Ali, Chief Financial Officer of Avanti.

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 non independent 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