Avanti Mining Inc. Updates Progress on the Environment Assessment of the Kitsault Mine Project
VANCOUVER, BC -- (Marketwire) -- 11/21/12 -- Avanti Mining Inc. (TSX VENTURE: AVT) (PINKSHEETS: AVNMF) ("Avanti") is pleased to provide the following update on the Environmental Assessment (EA) process for the Kitsault Mine Project, located 140 km northeast of Prince Rupert, BC. Avanti has been working closely with the BC Environmental Assessment Office (EAO) during the legislated 180-day review period; from April 30 through November 19, 2012, which includes a three-week pause requested by Avanti to permit the regulators more time to review extensive additional material submitted by Avanti.
The BC EAO is in the final stages of the EA review and has nearly completed its Assessment Report. Draft versions of the final report will be issued to members of the Technical Working Group (TWG) shortly. The TWG is comprised of Federal and Provincial agencies, First Nations and other interested parties. The TWG will have three weeks to review the draft report and provide final comments to the BC EAO. The BC EAO will consider these comments prior to finalizing its report that refers the Kitsault Project to the BC Minister of Energy, Mines and Natural Gas and the Minister of Environment for issuance of the Environmental Certificate. Avanti expects the referral to take place before December 21, 2012. Ministers will then have up to 45 days to make their decision on the Kitsault Project EA certification.
Concurrently with the BCEAO, the Canada Environmental Assessment Agency and the key federal agencies (Fisheries and Oceans, Natural Resources Canada and Environment Canada) have also participated in the Kitsault Project review. This federal review, although separate from the BC review has been largely coordinated under the policy between the agencies. Avanti expects the federal review to be completed within two months of the provincial review, followed by a federal decision by the Minister of Environment within three months of receiving the Comprehensive Study Report.
Concurrent with the EA, Avanti has been pursuing permitting under the BC "One Project - One Process" policy of synchronous permitting. We are currently working with the Mine Development Review Committee to finalize the application documents required for their review. Subsequent to the EA Certificate, permits are required to begin the construction of the project.
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 future financing, development and operation of a mine at 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 Corporation's expectations all the risks and uncertainties associated with developing a mine and commencing operations disclosed in the Corporation's Annual Information Form for the year ended December 31, 2010 and Management's Discussion and Analysis for the six months ended June 30, 2012, each of 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, 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:
A.J. Ali
Chief Financial Officer
303-565-5491, extension 4472
Craig J. Nelsen
Chief Executive Officer
303-565-5491, extension 4471