another announcement, page-2

Anvil Mining Limited (TSX, ASX: AVM), ("Anvil"
or "the Company") is pleased to announce that following completion of due
diligence in December 2006, it has elected to proceed with a detailed
evaluation of the Itogon Suyoc Resources Inc. ("Itogon") mineral properties in
the Philippines. The Company made a cash payment of $2.0 million to Itogon on
February 16, 2007 and will provide funding to a minimum of $2.0 million in
exploration expenditures and use its best efforts to complete the detailed
evaluation within a two-year period.
In August 2006, the Company signed an Evaluation and Development
Agreement with Itogon, a private Philippines minerals company, for their gold
properties in the Baguio District on Luzon Island in the Philippines. The
Itogon properties cover an area of 2,896 hectares and are located 12 km to the
southeast of Baguio City and approximately 200 km north of Manila, the capital
of the Philippines. A map of the properties can be accessed at
http://www.anvil.com.au/itogon.shtml. The properties also include the Itogon
underground gold mine which, up until it was put on care and maintenance in
1996, produced approximately one million ounces of gold and 400,000 ounces of
silver from ore with an average gold grade of 6.9 g/t.
The Baguio District has been the most significant gold producing district
in the Philippines with historical production of 28 million ounces of gold and
2.3 million tonnes of copper. It is located within a dilation zone at a change
of direction of the Philippine Fault Zone, a major geological feature which
transgresses the Philippine archipelago for a distance of more than 1,200 km.
A great number of the epithermal gold and porphyry copper deposits in the
Philippines appear to be spatially related to this major fault zone. The
Philex Mine located 10 km to the southwest of the Itogon properties has
historical production of 5 million ounces of gold, 5 million ounces of silver
and almost 2 million tonnes of copper.
The agreement provides for the Company to acquire 100% of the Itogon
mineral properties by completing a staged evaluation process, which, in
addition to the cash payment of $2.0 million to Itogon, and funding to a
minimum of $2.0 million in exploration expenditures includes the following
terms and conditions:
<<
- Subsequent to the detailed evaluation, completion of a feasibility
study on a 'best efforts' basis within a period of two years;

- A cash payment of $500,000 upon transfer of Itogon's rights to the
mineral properties to the Company;

- Payment of a Net Smelter Return (NSR) Royalty to Itogon on all
mineral production derived from the Itogon mineral properties by the
Company. For silver and copper production, the NSR Royalty will be
calculated at a rate of 2.5% and 3% respectively, while for gold, it
will be calculated according to a sliding scale, at a rate from 1.5%
to 5%, directly dependent upon the selling price of gold; and

- A one-off production bonus payment to Itogon of $1.25 million, once
200,000 ounces of gold has been recovered from the Itogon mineral
properties by Anvil.
>>

Following the cash payment of $2 million in February 2007, the Company
will now progress with the detailed evaluation of the properties which will
include geological mapping and sampling and other evaluation work leading to a
drilling program expected to commence in early 2008.