Anvil Announces Terms of Equity Offering



    
    /NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    TSX, ASX: AVM
    Common shares outstanding 71.2 million
    All amounts are expressed in US dollars, unless otherwise stated.
    

    MONTREAL, April 16 /CNW/ - Anvil Mining Limited (TSX, ASX: AVM), ("Anvil"
or the "Company"), announced today that in connection with its previously
announced public offering (the "Offering") of Common Shares of the Company
(the "Shares"), it has entered into an underwriting agreement with a syndicate
of underwriters led by Paradigm Capital Inc. and BMO Capital Markets and
including Raymond James Ltd. (collectively, the "Underwriters"). The Company
and the Underwriters have agreed that the Company will issue 26,100,000 Shares
at a price of C$1.15 per share for aggregate gross proceeds of C$30,015,000.
The Shares are being offered by way of a short form prospectus in each of the
provinces of Canada, other than Québec. Paradigm Capital Inc. and BMO Capital
Markets have been appointed as joint book runners for the transaction.
    The Underwriters have also been granted the option, exercisable in whole
or in part, at any time up to 30 days after the closing of the Offering, to
purchase up to an additional 3,915,000 Shares on the same terms and conditions
as the Offering, exerciseable at any time, in whole or in part, up to 30 days
from the closing of the Offering (the "Over Allotment Option"). If the Over
Allotment Option is exercised in full, the total gross proceeds to Anvil will
be C$34,517,250.
    Anvil intends to use the net proceeds of the Offering to make pas de
porte or entry premium payments aggregating US$15 million due to La Générale
des Carrières et des Mines (Gécamines) in respect of Anvil's Kinsevere
property and for general corporate purposes.
    The Offering is scheduled to close on or about May 4, 2009 and is subject
to certain customary conditions and regulatory approvals, including the
approval of the Toronto Stock Exchange.

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States or any other
jurisdiction outside of Canada, nor shall there be any sale of the securities
in any jurisdiction in which such offer, solicitation or sale would be
unlawful. The Shares offered have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the "1933 Act"), or any
state securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the 1933 Act and applicable state securities laws.

    An amended and restated preliminary short form prospectus (the
"preliminary prospectus") relating to the Offering will be filed today with
securities commissions or similar authorities in each of the provinces of
Canada, other than Québec. A copy of the preliminary prospectus will also be
lodged with the Australian Securities Exchange. The preliminary prospectus is
still subject to completion or amendment. Copies of the preliminary prospectus
may be obtained upon request without charge from Paradigm Capital Inc. and BMO
Capital Markets. A copy of the preliminary prospectus may also be obtained
under the Company's profile on SEDAR (www.sedar.com). There will not be any
sale or any acceptance of an offer to buy the securities until a receipt for
the final prospectus has been issued.

    Anvil Mining Limited is an unhedged copper producer whose shares are
listed for trading on the Toronto Stock Exchange (as Common Shares) and the
Australian Securities Exchange (as CDIs) under the symbol AVM.

    Caution Concerning Forward-Looking Statements:

    This news release contains "forward-looking statements" and
"forward-looking information", which may include, but is not limited to the
intended use of proceeds for the Offering. Often, but not always,
forward-looking information can be identified by the use of words such as
"plans", "expects", "is expected", "is expecting", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes", or
variations (including negative variations) of such words and phrases, or state
that certain actions, events or results "may", "could", "would", "might", or
"will" be taken, occur or be achieved. The purpose of forward-looking
information is to provide the reader with information about management's
expectations and plans. Readers are cautioned that forward-looking information
involves known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Anvil and/or its
subsidiaries to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking information. Such
factors include, among others, those factors discussed in the section entitled
"Risk Factors" in the Company's Annual Information Form. Although Anvil has
attempted to identify statements containing important factors that could cause
actual actions, events or results to differ materially from those described in
forward-looking information, there may be other factors that cause actions,
events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein are made as of the date of this
document based on the opinions and estimates of management on the date
statements containing such forward looking information are made, and Anvil
disclaims any obligation to update any forward-looking information, whether as
a result of new information, estimates or opinions, future events or results
or otherwise, except as required by law. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on forward
looking information.
    Readers are cautioned not to rely solely on the summary of such
information contained in this release, but should read the preliminary
prospectus dated April 16, 2009 and the documents incorporate by reference
therein, all of which is filed under our profile on SEDAR (www.sedar.com), and
any future amendments to such preliminary short form prospectus. Readers are
also directed to the cautionary notices and disclaimers contained herein. All
forward-looking statements and information made in this news release are
qualified by this cautionary statement.






For further information:

For further information: Craig Munro, Senior Vice President Corporate &
CFO, Tel: +61 (8) 9481 4700, Email: craigm@anvilmining.com (Perth), Website:
www.anvilmining.com; Robert La Vallière, Vice President Corporate Affairs,
Tel: (Office) (514) 448-6664, (Cell) (514) 944-9036, Email:
robertl@anvilmining.com (Montréal)

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Anvil Mining Limited

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