Andover Announces Final Payment to Silvermex
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/29/11 -- Andover Ventures Inc. ('Andover') (TSX VENTURE: AOX)(OTCBB: AOVTF)(FRANKFURT: R2X) announces that it has paid the final payment of $2,000,000 to Genco Resources/SilverMex Resources Inc. ('Silvermex'), representing the final payment on a $5,000,000 note payable for the purchase of 13,034,769 shares of Chief Consolidated Mining Company ('Chief').
Andover and Silvermex have signed a mutual release between the parties as this payment represents full and final settlement of the affairs between the companies with respect to the purchase of the control position in Chief by Andover.
About Andover:
Andover Ventures is a precious and base metal exploration and development company, headquartered in Vancouver, British Columbia, Canada. Andover Ventures' holdings are located in the historic East Tintic Mining District, Utah, USA, and the polymetallic-rich Ambler Mining District, Alaska, USA.
For further information we invite you to visit us at www.andoverventures.com.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
Neither 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.
Contacts:
Andover Ventures Inc.
Richard Martens
Investor Relations
1-604-682-2168 or Int'l Toll Free: 1-800-266-4484
www.andoverventures.com