Chief Consolidated Mining Company signs Agreement with Anglo American and Purchases...

Chief Consolidated Mining Company signs Agreement with Anglo American and
Purchases Korea Zinc Interest in Tintic Utah Metals Joint Venture

EUREKA, UT, Sept. 10 /PRNewswire-FirstCall/ - (NASD: CFCM.PK) - Anglo American
US (Utah) Inc. ("Anglo") (NASD:AAUK), an indirect wholly-owned subsidiary of
Anglo American plc, a major internationally diversified mining company and
Chief Consolidated Mining Company ("Chief"), (CFCM-OTC.BB) have executed and
delivered a Limited Liability Company Agreement ("The LLC Agreement") in order
to form the Big Hill LLC ("The Company") is a limited liability company to be
incorporated under the laws of the State of Delaware, one of the States of the
United States of America (USA) in order to explore for and, if justified,
develop a porphyry copper-gold-molybdenum target located on claims in Utah,
USA, presently owned by Chief or its wholly or partially owned subsidiaries
(collectively the Company Property).
The porphyry target is located in the Tintic Mining District near Provo, Utah.
A stockwork of quartz veinlets occupies the core zone of the target area with
a lithocap superimposed on the stockwork, a process termed telescoping.
Lithocaps usually define the shallow parts of porphyry copper systems
typically above the main Cu-Au+/- Mo zone. Anglo, will become, upon
incorporation of the Company, the owner of a 55% membership interest in the
Company, in return for its covenant to fund all costs and expenditures of a
program to complete a Pre-Feasibility Study on or before the third anniversary
of the execution of the LLC Agreement and a Full Feasibility Study acceptable
for senior financing, on or before the fifth anniversary of the execution of
the LLC Agreement.
Chief, upon incorporation of the Company, will have a 45% membership interest
in the Company in return for its assignment of the Company Property to the
Company. Mr. Brian Mountford, a director of Chief and Dr. Richard Sillitoe are
responsible for identifying the porphyry target. Mr. Mountford was responsible
for negotiating the terms of the LLC Agreement with Anglo. Mr. Mountford will
have a 5% beneficial interest in the Company held in Trust by Chief. Anglo, in
its capacity after incorporation of the Company, as the Manager of the
Company, proposes to commence drilling on the Company Property as soon as
possible and anticipates a September 2008 start.
Whilst Chief directly owns some of the Chief property, the bulk of the Company
Property is owned by Tintic Utah Metals Joint Venture ("TUMJV") (approximately
75% Chief and 25% Korea Zinc). Korea Zinc, Chief and Andover Ventures
(TSX-V-AOX) have reached an Agreement whereby Chief will purchase outright all
of Korea Zinc's interest in the TUMJV for $3,000,000.
Separate and excluded from the Anglo Agreement, Chief owns additional property
in the District that it proposes to develop. The immediate plans for this land
package will be described in a press release following the dissemination of
this release.

This release shall not constitute an offer to sell or the solicitation of an
offer to buy securities to/from any person, nor there any sale of such
securities in any jurisdiction in which it is unlawful to make such an offer
or solicitation. A number of statements in this press release are
forward-looking statements, which are made pursuant to the Safe Harbor
provisions of the Private Securities Litigation Reform Act 1995. These
forward-looking statements involve a number of projects, compliance with
environmental legislation and local environmental rule, laws and procedures,
the ability to raise capital to ensure optimization of budgetary planning and
other factors described in the Company's filings with the SEC. The actual
results that the Company may achieve may differ materially from any
forward-looking statements due to risks and uncertainties.
SOURCE Andover Ventures Inc.

Brian Mountford, P. Eng., Director of the Board, Chief Consolidated Mining
Company, (604) 682-2168, www.chiefmines.com