Mr. Craig Nelsen reports

AVANTI MINING ANNOUNCES LOAN AGREEMENT WITH RESOURCE CAPITAL FUND IV L.P.

Avanti Mining Inc. has entered into a loan agreement with Resource Capital Fund IV LP (RCF) for $5-million.

The loan is a bridge loan facility to provide general working capital while the company focuses on finding a partner for the development of its Kitsault molybdenum project. The loan will accrue interest at a rate of 12 per cent per year, which is payable at the end of each quarter in cash or common shares of the company, at RCF's option. If payable in shares, they will be valued at the current market price, subject to the rules of the TSX Venture Exchange. The loan is secured by the company's assets and will rank pari passu with the company's existing convertible loan from RCF. The company has agreed to pay RCF an establishment fee of $150,000 in cash or, at RCF's option, in common shares of the company valued at the current market price.

"We are delighted to have RCF continue to demonstrate its long-standing support of Avanti by providing this bridge loan while the company finalizes its strategic partnership and project financing activities," said Craig J. Nelsen, president and chief executive officer of Avanti. "When we considered our short-term financing alternatives, this bridge facility made the most sense from a shareholder dilution perspective."

The loan is due in full on April 15, 2012, or upon earlier events specified in the loan agreement. If the company sources alternative financing to refinance the loan, RCF will have the right to match such financing and the company will have an obligation to accept such financing from RCF. Moreover, so long as RCF remains a shareholder or creditor of the company, RCF will have the right to participate in any convertible debt or equity financing pro rata to its fully diluted shareholding in the company.

We seek Safe Harbor.