VANCOUVER, B.C. – ANDOVER VENTURES INC. (the “Company”) (AOX-TSX: V) is pleased to announce the closing of the private placement announced October 26, 2006 of 7,600,000 units at a price of $0.50 per unit, for total gross proceeds of $3,800,000.  Each unit consists of one common share and one share purchase warrant exercisable at a price of $0.60 per share in the first year and $0.70 per share in the second year.  There is a four-month hold period on the shares expiring on March 21, 2007.  A commission of $347,500 was payable in connection with the private placement to West Oak Capital Partners Inc.

In addition, the Company is pleased to announce the closing of the acquisition of a 50% interest in the Sun mining claims located in the Ambler District of Alaska, which was announced on October 31, 2006.  The purchase price payable was $3,000,000 and the seller, Hastings Base Metals Corp. ("Hastings") retains a 1.5% NSR.  The Company has also obtained an option to acquire the remaining 50% interest for a purchase price of $10,000,000 payable in cash or shares at the option of the Company, subject to regulatory approval.  The option is exercisable over a period of two years.

The Sun Property consists of a total of 25 claims on the south flank of the Brooks Range in north central Alaska.  The property is comprised of 13 SUN claims and 12 HOT claims and is an important zinc-copper (silver) deposit first identified by Sunshine Mining Company in the early 1970's and later worked on by Anaconda and Teck Cominco. As defined by historical drilling, the Sun Property extends approximately 3 kilometers along strike.  It consists of up to three volcanogenic massive sulfide (VMS) horizons up to 38 foot (11.5 m) thick. The favorable host rocks consisting of schistose meta-felsic volcanic, tuffs and sediments occur in an isoclinally folded linear belt that extends over 65 miles (100 Km). The Ambler District hosts several VMS deposits which include the Smucker deposit on the west side, the Arctic in the middle and Andover’s Sun on the east side of the district. These resources are historic in nature, have not been verified by a qualified person and are pre 43-101 and should not be relied on.

Andover also wishes to announce it has recently staked an additional sixty eight 160 acre State claims along 10 miles (16 Km) of the highly prospective metavolcanic belt around and to the west of the Sun prospect. Historical work there has identified favorable rocks, gossans, geophysical, and geochemical anomalies that have never been drill tested and will be the focus of 2007 exploration along with the Sun Deposit.

Content of this release has been reviewed and approved by Mr. Ellis, who is the qualified person, as defined by National Instrument 43-101, for this project. William Ellis is a Certified Professional Geologist in Alaska and an advisor to Andover Ventures.  Working with the Sunshine Mining Corp. in the early 1970’s Mr. Ellis originally staked the Sun Prospect and then, with Sunshine and Anaconda, staked other prospects throughout the Ambler District.

The Company further wishes to announce the appointment of Mr. Robert Gardner (Q.C.).  Mr. Gardner has served on the Boards of several public mining companies. He specializes in acquisitions and was instrumental in locating and negotiating the purchase of the La Guitarra Mine from Wheaton River and Luismin. He was educated at Cambridge University and is called to the Bars of British Columbia, England and Wales. He is Chairman of the Executive Committee for Genco Resources Ltd., a tier one TSX Venture listed company.

Andover Venture’s mission is to aggressively identify, acquire and advance high potential base and precious metal prospects.

ON BEHALF OF THE BOARD 

Signed “Michael England”
Michael England, President

FOR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations: Richard Martens
Telephone: 1-604-683-3995
Int’l Toll Free: 1-800-266-4484
Facsimile: 1-604-683-3988

The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.