Avanti Mining Announces Memorandum of Understanding with the Wilp Luxxhon
January 20 2014 - 11:24AM
Marketwired
Avanti Mining Announces Memorandum of Understanding with the Wilp
Luxxhon
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 20, 2014) -
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.Mark PremoChief Executive Officer604-620-7670,
extension 223Avanti Mining Inc.A.J. AliChief Financial
Officer604-620-7670, extension 222www.avantimining.com