|By Marketwired .||
|January 20, 2014 11:25 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/20/14 -- Avanti Mining Inc. (TSX VENTURE: AVT)(PINKSHEETS: AVNMF) and its wholly owned subsidiary Avanti Kitsault Mine Ltd. ("Avanti" or the "Company") is pleased to announce it has signed a Memorandum of Understanding ("MOU") with the Wilp Luxxhon related to its proposed Kitsault Mine Project.
"This understanding with the Wilp Luxxhon is a reflection of our hard work and determination to support First Nations and local communities in meaningful ways," said Avanti's President and CEO, Mark Premo. "We look forward to implementing the components of the MOU which will provide sustainable economic benefits to the Wilp Luxxhon people and will support further development of the Kitsault Mine Project."
Terms of the MOU include:
-- Provision of certain road maintenance contracts to Wilp Luxxhon contracting services. -- Supporting Wilp Luxxhon efforts to develop a Road Maintenance Contractor business through the provision of funds which will be used to prepare business plans. -- Providing mine training opportunities to Wilp Luxxhon people.
Wilp Luxxhon Chief, Don Russell, said, "Avanti is a fair and conscientious mining company. We are looking forward to implementing this MOU in a way that brings multiple benefits to our people."
Avanti is focused on the development of the past-producing Kitsault molybdenum mine located north of Prince Rupert, British Columbia. The Kitsault Mine Project received an environmental assessment certificate from the province of British Columbia in March 2013. A federal environmental assessment decision is expected in the near future.
For further information, please visit www.avantimining.com.
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. All statements, other than statements of historical fact, included herein including, without limitation, the availability and completion of the Facility, the Company's plans to arrange debt and equity financing to build the Kitsault project, and the development of the Kitsault project, 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 Company'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; results of negotiations with a potential strategic partner and other risks and uncertainties disclosed in the Company's Annual Information Form for the year ended December 31, 2012, which is available at www.sedar.com. The Company is under no obligation to update forward-looking statements if circumstances or management's opinions should change, excepting as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Avanti Mining Inc.
Chief Executive Officer
604-620-7670, extension 223
Avanti Mining Inc.
Chief Financial Officer
604-620-7670, extension 222