Anvil Mining Reports Record Net Earnings of $82.2 Million ($1.65 per share) for Fiscal Year 2006 and an Operating Profit of $107.0 Million

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Anvil Mining Limited (TSX, ASX, AVM), ("Anvil" or "the Company"), including its subsidiaries ("Group"), is pleased to announce record full year consolidated net earnings of $82.2 million ($1.65 per share) and operating profit after depreciation and amortization of $107.0 million. Revenues for 2006 totalled $175.4 million, up 184% from 2005. Operating cash flow, before working capital movements, was $99.4 million ($2.00 per share on a weighted average number of shares basis).

For the fourth quarter ended December 31, 2006, the Company reported consolidated net earnings of $21.3 million ($0.38 per share) and operating profit of $25.8 million. Revenues for the fourth quarter of 2006 totalled $42.7 million, up 65% from the corresponding quarter of 2005. Operating cash flow was $17.7 million ($0.31 per share). December Quarter and annual net earnings were affected by a build up in concentrate stocks at Kulu as a result of a lack of available transport.

Bill Turner, President and Chief Executive Officer of Anvil, commented, "We delivered a strong financial performance in 2006 with a record year in revenues, operating profit and net earnings. Our financial performance is due to a substantial growth in copper production, improvements in operational performance at the Dikulushi and Kulu mines and increases in realized copper and silver prices. We achieved our copper and silver production target in 2006, producing over 42,000 tonnes of copper and 2.2 million ounces of silver contained in concentrates. The 122% increase in copper production was due mainly to the start up of the Kulu tailings operation during the fourth quarter of 2005."

The complete financial statement together with the related Management's Discussion and Analysis (MD&A) will be available on Anvil's website at www.anvilmining.com under the heading "Financial Reports".

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