🕐12.04.10 - 20:22 Uhr
Avanti Mining Receives Environmental Assessment Act Order Under Section 7(3)
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Re: News Releases - Monday, April 12, 2010
Avanti Mining Receives Environmental Assessment Act Order Under
Section 7(3)
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Vancouver, British Columbia: Avanti Mining Inc.
(TSX-V: AVT) ("Avanti"
or the "Company") announced today that the Companys voluntary "opt-in"
application to have its Kitsault mine project ("Project") reviewed
under the British Columbia Environmental Assessment Act ("BCEAA") has
been accepted by the Environmental Assessment Office, in Victoria.
Although the Project was not reviewable under the BCEAA, the Company
chose to apply for the BCEAA review in order to provide the fullest
opportunity for input from the public and First Nations on the
potential environmental, social and health impact of this significant
Project.
"We are pleased with the order because the provincial EA
process is well positioned to manage a proposed Project of this scope
and the BCEAA has distinct timeframes for approval and facilitates
harmonization with the federal environmental requirements" said Craig
Nelsen, President & CEO.
The next step is to receive a section 11 order that specifies the
"Application Information Requirements" (AIR) to be included in the EA
application.
The Company has been collecting baseline environmental
data on the Project for 18 months as well as evaluating the existing
database of environmental information that exists because of the
previous operations dating back to the 1960s and an approved
Reclamation Plan from 1996.
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
Tom Corcoran, Manager, Investor Relations,
or 1-877-249-0640
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 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 Prospectus filed on February 16 2010 and Annual
Information Form for the year ended January 31, 2009, which are
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.
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Copyright (c) 2010 AVANTI MINING CORP.
(AVMI) All rights reserved.
For more information visit our website at http://www.avantimining.com/
or send mailto:
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