Avanti Mining Receives an Amended Mines Act Permit for the Kitsault Project
June 16 2014 - 7:30AM
Marketwired
Avanti Mining Receives an Amended Mines Act Permit for the Kitsault
Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 16, 2014) -
Avanti Mining Inc. (TSX-VENTURE:AVT)(PINKSHEETS:AVNMF) ("Avanti")
is pleased to announce that on June 13, 2014, the British Columbia
Ministry of Energy and Mines issued an amendment to Avanti's
existing Mines Act Permit (M-10). The decision to issue the amended
M-10 permit was made after a comprehensive review by the Kitsault
Mine Review Committee ("KMRC"), consisting of representatives from
relevant regulatory agencies, the Nisga'a Nation and the Metlakatla
First Nation. Avanti expects to receive the remaining secondary
construction related approvals in the very near future.
"We are delighted with the decision by the Chief Inspector of
Mines and the issuance of the amendment to our Mines Act Permit"
said Gordon J. Bogden, President and CEO of Avanti. "This is a very
significant milestone for the Kitsault molybdenum project. Further,
it is a forerunner for other corollary leases and licenses that are
anticipated within a few days and which will allow us to commence
road and camp construction at site. Avanti's pre-construction
funding was secured in December 2013 in the form of a $50 million
loan from Resource Capital Funds. In the meantime Avanti continues
its project debt negotiations with its banking syndicate while it
explores in parallel a number of other financing sources such as a
sale of a silver stream, and investment by a strategic
partner."
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. (the "Corporation"). All statements, other than
statements of historical fact, included herein including, without
limitation; statements related the receipt of secondary
construction approvals and the environmental assessment decision
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 the
need for cooperation of government agencies and native groups in
the exploration and development of properties and the issuance of
required permits; and other risks and uncertainties disclosed in
the Corporation's MD&A and the Annual Information Form for the
year ended December 31, 2013, which are 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.
Avanti Mining Inc.Gordon J. BogdenPresident and Chief Executive
Officer(416) 847-0376Avanti Mining Inc.Graham du PreezChief
Financial Officer(416) 847-0376www.avantimining.com
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