TSX, ASX: AVM
Common shares outstanding: 70.4 million
All amounts are expressed in US dollars, unless otherwise stated.
MONTREAL, June 14 /CNW/ - Anvil Mining Limited (TSX, ASX: AVM) ("Anvil")
is pleased to announce that Anvil Mining Services SPRL ("AMS") a wholly owned
subsidiary of Anvil has acquired an option (the "Option") to purchase
exploration licences PR 5236 and PR 1884 (the "Exploration Licences") in the
Nambulwa region, located 30 kilometres north of Kinsevere in the Democratic
Republic of the Congo ("DRC").
The exploration licences are located immediately adjacent to PE 539, the
Nambulwa exploitation permit, which is the subject of an amodiation agreement
with Gécamines. A figure that shows the location of the Exploration Licences
and the underlying geology can be viewed at
The Company paid a non-refundable fee of $1,000,000 to acquire the Option
to purchase the Exploration Licences for a final price of $11,000,000. The
option period commenced on June 12, 2007 and extends until September 10, 2007
(the "Option Period"), after which the Option expires.
During the Option Period, AMS will conduct an initial evaluation of the
Exploration Licences which is anticipated to include a drilling program of up
to 30 RC holes, with the nature and extent of the evaluation work to be
determined by AMS at its sole discretion.
AMS may exercise the Option at any time during the Option Period. If AMS
exercises the Option, it will purchase the Exploration Licences free from all
encumbrances and third party interests, and AMS will acquire full ownership
and title, and become the registered holder of the Exploration Licences.
Anvil Mining Limited 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.
For further information:
For further information: Craig Munro, Vice President, Corporate &
Finance and CFO, Tel: +61 (8) 9481 4700, Email: firstname.lastname@example.org
(Perth); Robert La Vallière, Vice President, Investor Relations, Tel: (Office)
(514) 448 6664, (Cell) (514) 944 9036, Email: email@example.com
(Montréal), Website: www.anvilmining.com