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AVT

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Share Name Share Symbol Market Type
TSXV:AVT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Avanti Mining and the Nisga'a Nation Conclude Kitsault Mine Benefits Agreement

03/06/2014 1:30pm

Marketwired Canada


Avanti Mining Inc. (TSX VENTURE:AVT)(PINKSHEETS:AVNMF), its wholly owned
subsidiary Avanti Kitsault Mine Ltd. ("Avanti" or the "Company") and the Nisga'a
Nation are pleased to announce that they have concluded a comprehensive
agreement in connection with Avanti's proposed Kitsault Molybdenum Mine Project
in northwestern British Columbia. The agreement will address a number of
outstanding Nisga'a concerns in respect of environmental protection, provide
economic benefits to the Nisga'a Nation (including a net smelter royalty of up
to 2% based on prevailing molybdenum prices), and resolve all outstanding
litigation.


The project is located within the Nass Area, in which the Nisga'a Nation has
certain treaty rights under the Nisga'a Final Agreement. Avanti and the Nisga'a
Nation previously had a number of outstanding differences regarding the project
and related permitting, but have recently been in direct discussions to resolve
those issues and that has proven successful.


"We are pleased to have finally reached an agreement with Avanti that will
enable the project to proceed while ensuring that our treaty rights are
respected, and our Nation's environment is protected," said Mitchell Stevens,
President of the Nisga'a Nation. "We wish to congratulate Avanti's new executive
team who approached us with a sincere interest in addressing our concerns with
the Project, which we were then able to work through without delay. This
demonstrates that when proponents take the Nisga'a Nation's interests and
concerns seriously, practical agreements can be reached in a timely manner. We
are now counting on the provincial and federal governments to fulfil their
responsibilities under our Treaty in respect of this and other projects in our
area." 


"This agreement marks the start of a new and promising chapter in our relations
with the Nisga'a Nation," said Avanti President and Chief Executive Officer,
Gordon Bogden. "We are confident it will provide meaningful benefits to all
parties, including Nisga'a individuals and businesses, and we look forward to
growing this partnership."


The Kitsault Mine operated previously from 1968 to 1972 and from 1980 to 1982.
Construction to reopen the project under a modern day mine plan is expected to
start in 2014, subject to receipt of final permits. Total investment in the
project will be approximately $1-billion and, when in production, the mine will
provide up to 300 full-time jobs during its anticipated 14-year life. The
project will be subject to extensive environmental and permitting conditions and
monitoring programs. 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.


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 to the construction and
development of the Kitsault molybdenum mine, the receipt of requisite permits,
including 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 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 including debt financing 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; 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Avanti Mining Inc.
Gordon J. Bogden
President and Chief Executive Officer
(416) 847-0376


Avanti Mining Inc.
Graham du Preez
Chief Financial Officer
(416) 847-0376
www.avantimining.com


Nisga'a Nation
Department of Communications and Intergovernmental Relations
(250) 633-3069
www.nisgaanation.ca

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