Avion Conditionally Approved to Graduate to the TSX
20 December 2010 - 1:00PM
Marketwired
Avion Gold Corporation (TSX VENTURE: AVR)(OTCQX: AVGCF) ("Avion")
is pleased to announce that it has received conditional approval to
list its common shares on the Toronto Stock Exchange (the "TSX").
The listing remains subject to certain conditions, including
without limitation, final approval of the TSX. Following graduation
to the TSX, Avion's common shares will continue to trade under the
stock symbol "AVR".
John Begeman, President and CEO of Avion commented: "The Avion
team is proud of our pending graduation to the TSX, which
represents a significant corporate accomplishment. The TSX is the
premier stock exchange in the world for mining companies, and a
main-board listing will increase our visibility with investors
everywhere. I would also like to take this opportunity to thank
everyone who has been involved in the Company's development to
date, for their hard work and efforts, which have led to Avion's
pending graduation to the TSX."
About Avion Gold Corporation
Avion is a Canadian-based gold mining company focused in West
Africa that holds 80% of the Tabakoto and Segala gold projects in
Mali. Gold production commenced at these projects in 2009 with just
over 51,000 ounces produced. 2010 production is estimated at 85,000
ounces of gold. Production sustainability is supported and enhanced
by an aggressive 2010 drill program over an approximately 600 km2
exploration package that both surrounds and is near to the
Company's existing mine infrastructure. Additionally, the 1,670 km2
Hounde exploration property in Burkina Faso is returning promising
results from an ongoing exploration program. These properties are
the subject of an approximate US$ 12 million dollar, approximate
70,000 metre, drill-focused, exploration program in 2010, which
management expects, based on results to date, to add new resources
and future opportunities for Avion. Avion continues to progress
towards its medium term goal of 200,000 ounces of gold per year and
a longer term goal of organic growth through development of its
exploration properties. The Company is developing an underground
mine at the Tabakoto deposit, and is preparing to mine underground
at the Segala deposit. Avion has a highly skilled management team,
with a focus on growth and consolidation within West Africa.
Cautionary Notes
The ability of Avion to increase production to 200,000 ounces of
gold per year has not been the subject of a feasibility study and
there is no certainty that the proposed expansion will be
economically viable.
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation,
statements regarding the likelihood, impact and timing of the
Company's TSX listing; statements with respect to the development
potential and timetable of the Tabakoto, Kofi and Hounde projects;
the future price of gold; the estimation of mineral resources;
conclusions of economic evaluation (including scoping studies); the
realization of mineral resource estimates; the timing and amount of
estimated future production, development and exploration; costs of
future activities; capital and operating expenditures; success of
exploration activities; mining or processing issues; currency
exchange rates; government regulation of mining operations; and
environmental risks. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to those risks described in the annual information form of
the Company which is available under the profile of the Company on
SEDAR at www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE
Contacts: Avion Gold Corporation Michael McAllister Manager,
Investor Relations (416) 309-2134 info@aviongoldcorp.com