🕐10.05.10 - 16:48 Uhr

Fundamental Research Provides update on Andover-EPA and Legal



Fundamental Research Corp.

has provided an update to the April 2010 research report initiated for Andover Ventures Inc.

www.andoverventures.com The following notes were taken from the updated research report, which will be available at Fundamental Research Corps website http://www.researchfrc.com/ in approximately one week. Consent Decree The Modifying Consent Decree discussed in our initiating report has been approved by the Senior District Judge in the United States Court for the District of Utah.

The Decree calls for Chief to make annual payments of $0.225 million per year for five (5) years (total of $1.125 million).

The original Consent Decree dated January 24, 2005 (prior to Andovers involvement with Chief), included a judgment in favor of the Environment Protection Agency in the amount of $60 million in relation to contaminated lands on the companys property.

Completion of these payments will fully and finally satisfy the Decree.

The decision results in a greatly reduced financial burden for Chief going forward regarding the East Tintic properties. Genco Resources Ltd.

vs Chief Consolidated Mining Co and Gordon Blankstein In our initiating report we presented information regarding a lawsuit filed by Genco Resources Ltd.

("Genco") against Chief and Gordon Blankstein (CEO of AOX and Chief).

Public documents filed in the United States District Court, District of Arizona on May 3, 2010, indicate that the plaintiff, Genco, has dismissed defendants Chief and Gordon Blankstein without prejudice.

The decision reduces risks relating to Andovers ownership of Chief. About Andover Ventures Inc.

Vancouver, British Columbia based Andover Ventures is a precious and base metal exploration company that through a controlling interest in Chief Consolidated Mining Company , holds an impressive land package in the East Tintic Mining District in Utah.

The companys 100% owned SUN deposit in the Amber District of Alaska is considered the second largest deposit in the district.



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