| ||November 29, 2010|
Avanti Receives Section 11 Order from the British Columbia Environmental Assessment Office
| ||Vancouver, British Columbia: Avanti Mining Inc. (TSX-V: AVT) through its wholly owned subsidiary, Avanti Kitsault Mine Ltd. ("Avanti" or the "Company") is pleased to announce that the British Columbia (BC) Environmental Assessment Office has issued a Section 11 Order, under the BC Environmental Assessment Act, to Avanti for the Kitsault Mine Project ('the Project"). The Section 11 Order defines the scope of the Project that is required to be assessed in the environmental assessment (EA) Application and includes potential effects to be considered in the EA Application. |
In addition, the Section 11 Order sets out the consultation requirements and the First Nations to be consulted for the Project. With the Section 11 Order, Avanti can move to finalize the Application Information Requirements following a 30 day public comment period tentatively set to begin early in 2011; see Avanti news release dated November 10, 2010, for more information on the Application Information Requirements.
Craig J Nelsen, President and CEO, commented, "We are very pleased at the projects progress through both the Provincial and Federal Environmental Assessment process and the relationship that has developed between the agencies and members of the Working Group. The draft Application Information Requirement ("AIR") is under review with a goal of it being issued for public comment in January 2011. We are also very proud of the evolving project design that has taken place during the Feasibility Study expected by December 15. Environmental considerations have informed this design and made for a much more sustainable operation."
Avanti is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia. Kitsault has Proven and Probable reserves of 215 million tonnes grading 0.085% Mo and containing 368 million pounds of recoverable molybdenum as outlined in the Technical Report dated December 15, 2009 which is available on the Company's website as well as at www.sedar.com. Mr. Kenneth Collison, Senior Vice President of Project Development 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.
For further information, please visit www.avantimining.com, or contact:
Craig J. Nelsen, Chief Executive Officer, 303-565-5491, extension 4471, or
A.J. Ali, Chief Financial Officer, 303-565-5491, extension 4472
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 at the Kitsault property, the completion of the feasibility study, molybdenum products meeting the specifications of the London Metals Exchange 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, 2009, 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.
You can view the Next News Releases item: Thu Dec 16, 2010, Avanti Mining Receives Positive Feasibility Study Confirming Robust Economics For Restart Of Kitsault Molybdenum Mine
You can view the Previous News Releases item: Tue Nov 23, 2010, Avanti Receives Preliminary Results of 81 Meters Grading 0.383% Mo From Initial Confirmation Drilling at Roundy Creek
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