Anvil Mining Limited - Update



    TSX, ASX: AVM
    Common shares outstanding: 70.5 million

    MONTREAL, Nov. 5 /CNW/ - Anvil Mining Limited (TSX, ASX: AVM) ("Anvil" or
the "Company") responded today to news reports that the Commission appointed
to review mining contracts in the Democratic Republic of the Congo ("DRC") and
which reports to the Minister of Mines in the DRC, has recommended that 61 of
those contracts be renegotiated or terminated. The recommendations appear to
relate to almost all of the companies which hold mining rights in the country
without regard to the timing or basis upon which they were negotiated. News
reports have stated that the Commission will recommend the termination of
Anvil's contractual rights to the Dikulushi copper-silver mine as well as the
rights to 23 other contracts held by other companies. In addition, news
reports have stated that Anvil's joint venture in respect of the Mutoshi
property (which includes the Kulu Mine) and lease agreement with respect to
the Kinsevere-Nambulwa property (which includes the Kinsevere Mine) have been
recommended for renegotiation along with another 35 contracts held by other
companies.
    Anvil confirmed that it has received no written communication from the
Minister of Mines or the Commission (or any other government body in the DRC)
in respect of renegotiation or termination of any agreement to which Anvil or
any of its subsidiaries is a party. Anvil understands that the Commission is
to report to the Minister of Mines and that the Commission is mandated to
issue recommendations only and does not appear to have the power itself to
renegotiate or terminate any contract. Accordingly, Anvil can offer no comment
on whether any of its contractual arrangements in the DRC will actually be
terminated or renegotiated. Nor can it comment on the terms of any such
renegotiation or termination.

    Anvil is an unhedged copper and silver producer whose shares are listed
for trading on the Toronto Stock Exchange (as common shares) and the
Australian Stock Exchange (as CDIs) under the symbol AVM. It has a majority
interest in and operates the Dikulushi copper-silver mine, the Kinsevere
copper mine and the Kulu copper tailings operation in the Katanga Province of
the DRC.

    %SEDAR: 00020549E




For further information:

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

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Anvil Mining Limited

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