Anvil Mining Reports Record Net Incomeof $35.4 Million ($0.58...

Anvil Mining Reports Record Net Income
of $35.4 Million ($0.58 per share) for the Second Quarter 2007 and an Operating Profit of $43.1 Million
on Concentrates Sales of $65.7 Million

Montréal, Canada: Anvil Mining Limited (TSX, ASX: AVM), (“Anvil” or “the Company”) and
including its subsidiaries (“the Group”) is pleased to announce record consolidated net income of
$35.4 million ($0.58 per share on a weighted average number of shares basis) for the second quarter
of 2007, compared to $22.5 million ($0.42 per share) for the second quarter of 2006. Concentrate
sales also reached a quarterly record of $65.7 million, compared to $43.0 million for the
corresponding quarter of 2006. Operating cash flow before working capital movements was a
record $43.3 million ($0.71 per share), compared to $27.9 million ($0.50 per share) for the second
quarter of 2006. Consolidated production for the second quarter totalled 8,395 tonnes of copper and
583,269 ounces of silver contained in concentrates.
Second Quarter Highlights

• Quarterly production of 8,395 tonnes of copper and 583,269 ounces of silver contained in
concentrates.

• Record revenues from copper-silver and copper concentrate sales of $65.7 million, up 53%
compared to the corresponding quarter of 2006.
• Record net income of $35.4 million ($0.58 per share), up by 57% compared to the corresponding quarter of 2006.

• Record operating profit (after depreciation and amortization) of $43.1 million up by 56%
compared to the corresponding quarter of 2006.

• Record cash flow from operating activities (before working capital movements) of $43.3
million ($0.71 per share) up by 55% compared to the corresponding quarter of 2006.

• Successful commissioning of the Stage I Heavy Media Separation (“HMS”) plant at Kinsevere with commercial production for the plant achieved in late June.

• Completion of a bought deal equity financing for gross proceeds of C$201.2 million.

Discovery of two new zones of oxide copper mineralization at Kinsevere and entering into
an option to purchase two exploration licences in the Nambulwa region, located
approximately 30 km north of the Kinsevere mine.
• Appointment of Ausenco Limited (“Ausenco”) as the provider of engineering, procurement
and construction management (“EPCM”) services for the Kinsevere Stage II development.
• Cash and cash equivalents, including restricted cash, and investments in liquid assets of
$284.2 million at the end of the quarter, equal to $4.03 per share.

Bill Turner, President and Chief Executive Officer of Anvil, commented, “We delivered a strong
financial performance for the second quarter of 2007 with quarterly records achieved for revenue,
operating profit, net income and cash flow. Our strong financial performance was due to continued
above-target operational performance at the Dikulushi mine and increases in realized copper and
silver prices. We are proud to have produced the first copper concentrate from the recently
completed HMS plant at Kinsevere in June and to have Ausenco Limited, a well-regarded
international engineering firm from Australia, as the provider of the EPCM services for the
Kinsevere Stage II development”.
Outlook
Above target production is being consistently achieved at the Dikulushi mine and with the
commencement of commercial production at Kinsevere in June, the Company is still targeting
approximately 50,000 tonnes (110 million pounds) of copper production for 2007.
While improved production at the Kulu mine is expected in the second half of the year, the first
semester production shortfall at Kulu will not be recouped by year-end and therefore it is estimated
that the revised 2007 copper production target for Kulu will be 9,000 tonnes of copper compared to
the original target of 15,000 tonnes. In order to improve metallurgical recoveries at Kulu, the
Company will table a pre-feasibility study in the coming months with the aim of identifying the best
option for reprocessing the coarse rejects/tailings and optimizing the value of the deposit, which is
likely to involve Solvent Extraction Electro-winning (“SX-EW”) processing.
The floats and tailings from the HMS operation, which are being stored in a retention dam for
subsequent reprocessing, still average approximately 3% copper. Furthermore, the Kulu resource is
a loose gravel which can be mined without the need for any waste stripping or drill and blast
activities. It also has low gangue-acid consumption characteristics which support a simple wholeore-
leach approach and SX-EW processing which is expected to achieve metallurgical recoveries of
over 90%.