Vancouver, B.C., April 8, 2014 – Avarone Metals Inc. (TSX-V:AVM) (“Avarone” or the “Company”) is pleased to announce that on April 4, 2014, the TSX Venture Exchange accepted for filing the previously announced property purchase agreement (“Agreement”) with an arms’ length vendor to earn a 100% interest in the McWilliams Lake Gold Property (the “Property”). Under the terms of the Agreement, Avarone will issue 4,000,000 common shares of the Company to the vendor within 5 days of TSX approval and incur $1,000,000 in exploration expenditures over the next four years. This acquisition is not subject to an NSR.
The Property covers an area of ~2,406 hectares and is situated ~6.7km SW of Avarone’s Wildnest Gold Project in central Saskatchewan.
In accordance with applicable securities laws, the common shares of the Company to be issued under the Agreement will be subject to a four month plus a day hold period.
ON BEHALF OF THE BOARD OF DIRECTORS OF AVARONE METALS INC.,
“Marc E. Levy”
Marc E. Levy
President & CEO
For more information, contact the Company at:
Telephone: (604) 669-9788
Facsimile: (604) 669-9768
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. We seek Safe Harbor.