🕐29.11.10 - 19:54 Uhr
Avanti Receives Section 11 Order from the British Columbia Environmental Assessment Office
=======================================================================
Re: News Release - Monday, 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 Companys 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 Corporations 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 Corporations 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 managements
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 also view this News Release on our website at:
http://www.avantimining.com/s/NewsReleases.asp?ReportID=431061
=======================================================================
Copyright (c) 2010 AVANTI MINING CORP.
(AVMI) All rights reserved.
For more information visit our website at http://www.avantimining.com/
or send mailto:
=======================================================================