SOURCE: ABV Gold

January 18, 2008 11:57 ET

ABV Gold Releases Independent Appraisal of Russian Mine Merger Target and Signs Letter of Intent

MONTREAL--(Marketwire - January 18, 2008) - ABV Gold (PINKSHEETS: ABVG) (FRANKFURT: AB8), a gold and other precious metals mining company, released today the independent appraisal report from BK Arkadia and the appraised value of TsNIGRI demonstrating a value of $3.3 Billion USD for the Russian Mine Operation.

The company immediately signed a letter of intent for the acquisition of up to 12% working interest in the Russian mine.

According to the company, the letter of intent states that the identity of the Russian Mine shall continue to remain confidential until such time as the company concludes the working interest agreement. The company has now begun discussions with several investment banking firms in the United States and Canada familiar with Russian transaction to enable adequate financing of its interest.

"We look forward to continuing our efforts to acquire the 12% working interest into the Russian Mine and hopefully be able to acquire a larger interest as we move towards a farm-in agreement," said Daniel Ryan, President and CEO of ABV Gold. "The working interest of 12% represents a value of $396 million and previously discussed, given a total outstanding shares of 250 million, the asset would be a tremendous value creation for our shareholders," further added Mr. Ryan.

NOTE:

Independent appraisal No 77-76418723/07/07/11-01/01 was performed by the supervision of Borisova V.V. under license No. 011997 - Insurance# 19/07-074648 and report registered under No 07-11-01/01 of the Russian Federation license #519

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