VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2009) - Avanti Mining Inc. (TSX VENTURE:AVT) ("Avanti") reports that it has signed a six-month Consulting Agreement with San Diego Torrey Hills Capital, Inc. ("Torrey Hills Capital") to act as Investor Relations consultants to the company.
Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and microcap companies, most of which are in the natural resources sector. It will be Avanti's goal to build and maintain an informed investor audience by increasing awareness about the company through Torrey Hills Capitals' established relationships with investment professionals, investment advisors, money managers, and market makers focused on the microcap market space. Torrey Hills Capital will also develop a profile on Avanti for coverage on its website, www.babybulls.com, a website developed to showcase and provide exposure for emerging micro-cap companies to an audience of proven micro-cap investors.
Torrey Hills Capital will be paid a monthly fee of $5,000 per month and a one-time issuance of three-year options to purchase 150,000 shares of Avanti's common shares at an exercise price equal to the closing price of the Company's stock on January 28, 2009. The options granted will vest over a period of 18 months.
Avanti Mining Inc. owns an undivided 100% direct interest in the past producing Kitsault Molybdenum mine in Northern British Columbia. In addition, its strategy will be to acquire advanced Molybdenum prospects and move them towards development; to purchase by-product Molybdenum production streams from copper producers; and, to become a consolidator in the junior Molybdenum market.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avanti Mining Inc.
Craig J. Nelsen
Chief Executive Officer
(303) 565-5491, extension 13
Avanti Mining Inc.
Cheryl A. Martin
Senior Vice President, Investor Relations
(303) 565-5491, extension 12