OCTOBER 19^th, 2006, VANCOUVER, B.C. – ANDOVER VENTURES INC. (the “Company”) (AOX-TSX:V) announces that it has now closed its private placement which the Company first announced by press release dated August 11, 2006. The Company sold 1,700,000 units at a price of $0.50 per unit (a “Unit”) to raise gross proceeds of $850,000.  Each unit consists of one common share of the Company and one common share purchase warrant, each warrant entitling the holder to purchase one common share at 60 cents for a period of 12 months after the closing date, then at 70 cents for an additional 12 months. If, following the date that is four months and one day after the closing date of the financing, the closing price of the Company’s common shares exceeds $1 for 20 consecutive trading days, then the warrant term will be automatically reduced and the share purchase warrants will expire on the date that is 30 days following the issuance of a news release disclosing the reduced warrant term.

The proceeds of the private placement will be used for the Company’s various Alaskan projects and for general working capital purposes. In connection with the private placement, the Company paid cash commissions as follows: $62,500 to West Oak Capital Partners Inc. and $13,000 to Jennings Capital Inc. Broker warrants were also issued as follows: 125,000 to West Oak Capital Partners Inc. and 26,000 to Jennings Capital Inc. Each broker warrant entitles the holder to acquire the same number of common shares of the Company at $0.50 per share for two years. 

All securities issued in the private placement are subject to a hold period expiring February 17, 2006. 

Andover Ventures, with its experienced management team, is committed to increasing shareholder value by acquiring and exploring quality mineral properties in Alaska.

The TSX Venture Exchange has not approved or dissapproved the contents of this news release

ON BEHALF OF THE BOARD

Signed “Michael England”
Michael England, President

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995
Facsimile: 1-604-683-3988
Contact: Michael England

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