VANCOUVER, Nov. 9 /CNW/ - Avanti Mining Inc. ("Avanti") today announces the appointment of Mark A Smith, as a director.
Mr. Smith is the CEO and director of Molycorp Minerals LLC. Molycorp is based in Denver and operates the Mountain Pass rare earth mine in Mountain Pass, California. Prior to Molycorp, Mr. Smith was the president and CEO of Chevron Mining Inc. a wholly owned subsidiary of Chevron Corporation. Chevron Mining operated five mines including the Questa molybdenum mine in New Mexico. Prior to that Mr. Smith worked for Unocal for 22 years managing various divisions including mining and carbon. He is a graduate of Colorado State University, College of Engineering and also has a law degree from Western State University of California.
Avanti also announces the resignation of David Cohen from the board of directors due to other business commitments and the resignation of Cheryl Martin, VP Investor Relations and Corporate Secretary, to pursue opportunities in the gold mining sector. Craig J. Nelsen, President and CEO of Avanti, welcomed Mark to Avanti board and stated, "Mark's molybdenum mining experience and contacts in the marketing of molybdenum to end users will be invaluable to Avanti as we begin our marketing and finance phase of developing Kitsault. We also want to thank David and Cheryl for their contributions during the early formative years of Avanti and wish them every success in their future endeavors."
Avanti is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia.
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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; anticipated dates for receipt of permits and approvals, construction and production, and other milestones; anticipated results of drilling programs, feasibility studies and other analyses; estimated timing and amounts of future expenditures, and the Corporation's future production, operating and capital costs, operating or financial performance, 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 prospectus dated July 31, 2007, which is 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.
SOURCE AVANTI MINING INC.
For further information: For further information: please visit www.avantimining.com, or phone (303) 565-5491 to contact: Craig J. Nelsen, Chief Executive Officer; A J Ali, Chief Financial Officer