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TORONTO, ONTARIO, Feb 27, 2008 -- Avalon Ventures
Ltd. (TSX VENTURE: AVL) (the
"Company" or "Avalon") is pleased to announce that its
common shares will begin trading on the Toronto Stock Exchange
("TSX") effective at the market opening on Thursday, February 28,
2008. Avalon's common shares will be delisted from the TSX Venture Exchange
concurrent with the commencement of trading on the TSX. They will continue
to trade under the current stock symbol: "AVL".
Graduation to the TSX represents an important milestone in Avalon's
development and one of the Company's priority objectives for its growth
strategy in 2008. Commented Avalon's President, Don Bubar, "We expect that
the TSX listing will provide increased liquidity for Avalon's shares,
attract a larger institutional following and more generally, raise the
profile of rare metals exploration and development amongst investors.
Avalon represents one of the very few public companies listed in Canada
offering investors exposure to the rare metals as a distinct group of
mineral commodities, which are now becoming vital to many emerging green
technologies."
The Company's top priority project is its Thor Lake rare metals project
located in the Akaitcho territory, near Yellowknife, NWT, where a $5.0
million work program is underway for 2008, involving some 10,000 metres of
definition drilling and metallurgical studies on the Lake Zone rare earth
element deposit. The main objectives of this program are to define
indicated resources in the Lake Zone and complete a pre-feasibility study
by January, 2009. Drilling began in late January and progress to date has
been very good, despite intense cold weather. As at today's date, 10 holes
totaling 1568 metres had already been completed.
About Avalon Ventures Ltd.
Avalon Ventures Ltd. is a Canadian junior mineral exploration and
development company, with a primary focus on rare metals and minerals with
high technology applications or offering environmental benefits. Avalon
currently holds a portfolio of five such projects, including three that are
at, or close to, the feasibility stage. Shares Outstanding: 64,202,248.
Cash resources: approximately $16.0 million.
To find out more about Avalon Ventures Ltd., please visit our website at http://www.avalonventures.com
. This news release is available on the Company's official on-line investor
relations site for investor commentary, feedback and questions. Investors
are invited to visit the "Avalon Ventures" IR Hub at http://www.agoracom.com/ir/Avalon
. In addition, investors are invited to e-mail their questions and
correspondence to AVL@agoracom.com
or phone Don Bubar, P.Geo. President, at 416-364-4938. Mr. Bubar is the
Qualified Person responsible for the technical content of this news
release.
The language used in this News Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual
events or results could differ materially from the Company's
forward-looking statements and expectations.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Contacts:
Avalon Ventures Ltd.
Don Bubar, P.Geo.
President
(416) 364-4938
(416) 364-5162 (FAX)
Email: AVL@agoracom.com
Website: http://www.avalonventures.com
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