Avanti Mining Inc. Final Environmental Assessment Application Accepted by Canadian Environmental Assessment Agency for Formal Review
VANCOUVER, BC -- (Marketwire) -- 05/03/12 -- Avanti Mining Inc. (TSX VENTURE: AVT) (PINKSHEETS: AVNMF) ("Avanti" or the "Company") is pleased to announce that the Final Environmental Assessment (EA) Application / Environmental Impact Statement (EIS) for the Kitsault Mine Project ("Project") in northern British Columbia (BC) has been accepted by the Canadian Environmental Assessment Agency (CEA Agency) for formal review.
In a letter dated May 2, 2012 from the CEA Agency the formal review began on April 26, 2012 with a focused screening that indicated the application contained sufficient information to begin the review effective immediately. To date, the BC EAO and the CEA Agency have worked jointly to advance the Project through their respective environmental review processes. In accordance with this joint review, a 30-day public comment period will begin on May 11, 2012. The Final EA Application / EIS is posted on the BC EAO's Project Information Center website at www.eao.gov.bc.ca.
"The acceptance of Kitsault EA by the CEA Agency for formal review brings the federal and provincial environmental authorities together on the Projects review process," Mr. Craig J. Nelsen, President and CEO, stated. "Avanti looks forward to the final review and receiving its Environmental Certificates for this mine development. Both CEA Agency and BC EAO have committed to a harmonized review process that is commencing with the joint 30-day public comment period on the application."
In anticipation of the successful outcome of the EA process, Avanti is working with the BC Ministry of Forests, Lands and Natural Resource Operations (MFLNO) to advance permit applications necessary for construction and operation of the Project. The MFLNO works as a central government body responsible for coordinating BC and Canada permitting agencies under the provinces "1 Project - 1 Process" policy. This "synchronous" EA and permitting process is a relatively new government initiative aimed at streamlining the regulatory process.
Avanti Mining Inc. is focused on the development of the past producing Kitsault Mine Project located north of Prince Rupert in British Columbia. In late 2010, Avanti completed the Kitsault Feasibility Study on the Kitsault Mine Project, dated December 15, 2010, prepared by AMEC Americas Limited that showed Proven and Probable Reserves of 232.5 million tonnes averaging 0.081% molybdenum. Ken Collison, P. Eng., Senior Vice President Project Development and a Qualified Persons as defined by NI 43-101, is responsible for the technical information in this press release.
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 in particular, statements herein about the submission by the Corporation of its Environmental Assessment application for the Kitsault Project being granted faster than the mandated timelines, 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 preparation of the EA application, the fact that the Corporation's employees and consultants may divide their time between other projects and other risks and uncertainties disclosed in the Corporation's Annual Information Form for the year ended December 31, 2010, which is available at www.sedar.com. The Corporation 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.
For further information, please visit www.avantimining.com, or contact:
Craig J. Nelsen
Chief Executive Officer
303-565-5491, extension 4471
A.J. Ali
Chief Financial Officer
303-565-5491, extension 4472