Resource Capital Fund IV Acquires Shares of Avanti Mining Inc.

DENVER , Dec. 23 /CNW/ - Resource Capital Fund IV L.P. ("RCF IV") announces that it has acquired 12,221,019 common shares ("Shares") of Avanti Mining Inc. ("Avanti") pursuant to the exercise of warrants. The Shares were acquired at a purchase price of CDN$0.216 per Share representing an aggregate purchase price of CDN$2,639,740.

Following the exercise of the warrants, and as a result of a previous transaction where RCF IV acquired 101,969,918 common shares of Avanti, RCF IV now controls 147,927,134 common shares represent 55.14% of the issued and outstanding common shares of Avanti. Assuming the exercise of the warrants held by RCF IV, RCF IV would own 186,687,074 common shares, or 60.80% of the issued and outstanding common shares of Avanti.

The Shares of Avanti were acquired by RCF IV for investment purposes. Depending upon market conditions and other factors that RCF IV may deem material to its investment decisions, additional shares may be purchased in the open market or in private transactions. Depending on these same factors, shares currently owned (or hereafter acquired) by RCF IV may be sold in the open market or in private transactions.

For further information: For additional information concerning the foregoing or a copy of the Early Warning Report referred to in this release, please contact: Brian Dolan, RCF Management L.L.C., Tel: [phone]