AIVN American International Ventures Inc (CE)

American International Ventures Inc. (OTCBB: AIVN) is pleased to announce that it has entered into a Joint Venture Agreement with Electrum Resources LLC to explore and, if successful, develop the Bruner Gold Property located in Nye County Nevada. Electrum is a private precious metals exploration company associated with Thomas S. Kaplan, former Chairman of Apex Silver Mines Ltd. Under the terms of the Agreement, Electrum is committed to spend at least $250,000 in the first year of the Agreement. If Electrum spends a minimum of $3,000,000 on the property in the first three years of the Agreement, it can elect to receive a 65% interest in the property and at that time an Operating Agreement will become effective. Electrum can earn an additional 10% by successfully completing, at its expense, a positive bankable feasibility study. If Electrum provides financing for AIVN's share of development costs, then Electrum will earn an additional 5% in the property. Electrum will make a payment to AIVN of $15,000 upon execution of the agreement and $25,000 per year for every year thereafter until Electrum completes a positive bankable feasibility study. In addition, Electrum has expanded the Company's property position at the Bruner by staking in AIVN's name, 67 additional unpatented mining claims totaling approximately 1340 acres. Electrum will be responsible for the cost of maintaining AIVN's claims. Electrum will also make a private placement into AIVN for 2,000,000 common shares of AIVN for $200,000 and Electrum will receive warrants for 1,000,000 shares exercisable for 2 years at $.20 and another warrant for an additional 1,000,000 shares exercisable for 4 years at $.20. If Electrum fails to complete all of its obligations, the property will be returned to AIVN. AIVN believes that Electrum Resources is uniquely positioned to carry out an aggressive and professional exploration program of the Bruner Property. Dr. Larry Buchanan, President and Chief Geologist for Electrum Resources, developed the most widely accepted exploration model for epithermal gold deposits, which has many similarities to the Bruner district. The Ken Snyder Gold Deposit, located in Nevada, is an example of this type of deposit. Dr. Buchanan has stated that once the preliminary work is completed and permits are granted from the BLM, drilling will commence. It is anticipated that drilling should start this year. On another matter, AIVN announces that Mr. Jim Duff has resigned as President of AIVN in order to pursue another business opportunity, but he has accepted a position on the Board of AIVN. We wish Mr. Duff success in his new endeavors. The Company is pleased to announce that Steven R. Davis, a senior mining executive and precious metals geologist has accepted the position of President of AIVN. Mr. Davis has over 35 years of professional experience and management in the minerals industry throughout North, Central and South America with a focus on exploration and resource development of precious metals systems. He earned a B.S. Degree in geology from Utah State University, and has completed post-graduate courses at various universities. He has held senior exploration and management roles at New Jersey Zinc, Cordero Mines, ASARCO, Inc., Homestake Mining Co. and for other mining companies and will bring strong leadership to AIVN. FORWARD-LOOKING STATEMENTS: This news release contains certain forward-looking statements. All statements, other than statements of historical fact, included herein, including without limitation statements regarding potential mineralization, resources and reserves, and development results, and the future plans and objectives of American International Ventures while forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate in actual results of future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from American International Ventures expectations are the down turn of the price of gold, inability to raise additional funds and also, the inability to obtain attractive properties.