Avanti Makes Payment to Nicholas Carter Pursuant to Purchase and Sale Agreement
VANCOUVER, BC -- (Marketwired) -- 04/19/13 -- Avanti Mining Inc. (TSX VENTURE: AVT) (PINKSHEETS: AVNMF) ("Avanti" or the "Company") announced today that it has paid C$25,000 and has issued 75,000 Avanti common shares to Nicholas Carter pursuant to a purchase and sale agreement dated April 21, 2010 among the Company, Avanti Kitsault Mine Ltd., and Nicholas Carter (the "Agreement") as announced by Avanti on April 22, 2010.
The Agreement was for the purchase of a 100% interest in two mineral claims located in Kitsault, British Columbia, Canada. In consideration of this purchase and in accordance with the terms of the Agreement, Avanti agreed to pay Nicholas Carter the total sum of C$100,000 in cash and to issue 250,000 Avanti common shares over four years. The final instalment of C$35,000 and 100,000 Avanti common shares is due on April 21, 2014, payment of which completes Avanti's obligations under the Agreement.
Avanti is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia.
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 development of the Kitsault molybdenum mine, 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 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 Annual Information Form for the year ended December 31, 2010, 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 visit www.avantimining.com, or contact:
Craig J. Nelsen
Chief Executive Officer
303-565-5491, extension 4471
or
A.J. Ali
Chief Financial Officer
303-565-5491, extension 4472
