SEATTLE, Nov. 18, 2003 (PRIMEZONE) -- Avalon Gold Corporation (OTCBB: AVGC) announces that an agreement in principle has been reached with Aurora Pacific Consulting and Development Corporation to develop the Mayske Gold Deposit in the Ukraine.
The agreement is for Avalon to have a 75% interest with an option to acquire another 15% interest pending the approval of the State Agency in Ukraine, which regulates such matters.
Avalon's representatives to the Ukraine are expected to provide more specific historical data on previous work done on the Mayske property.
Information on the necessary work requirements needed to advance further on this acquisition is expected within the next few weeks.
Avalon Gold Corporation is an aggressive gold mining company focused on finding, exploring and developing exceptional gold properties internationally.
/s/ Robert Waters ______________________ Robert Waters, President
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Avalon's filings with the Securities & Exchange Commission.