Dunav Resources Ltd.
TSX VENTURE : DNV

Dunav Resources Ltd.
Avala Resources Ltd.
TSX VENTURE : AVZ

Avala Resources Ltd.

October 01, 2014 11:12 ET

Avala and Dunav Announce Shareholder Approval of the Plan of Arrangement

LONGUEUIL, QUÉBEC--(Marketwired - Oct. 1, 2014) - Avala Resources Ltd. (TSX VENTURE:AVZ) ("Avala") and Dunav Resources Ltd. (TSX VENTURE:DNV) ("Dunav") are pleased to announce that each company held a general and special meeting of shareholders on September 30, 2014, and the previously announced plan of arrangement (the "Arrangement") between Avala and Dunav was approved by the shareholders of each company.

The Arrangement was approved by 99.8% of the shares represented at Avala's shareholders' meeting excluding the votes attached to shares owned by shareholders who are deemed to be related or interested parties.

The Arrangement was approved by 100% of the shares represented at Dunav's shareholders' meeting excluding the votes attached to shares owned by shareholders who are deemed to be related or interested parties.

Dunav is applying today for a final order approving the Arrangement from the Supreme Court of British Columbia. Assuming all other terms and conditions to the Arrangement are met including approval of the TSXV, it is expected that the Arrangement will close on October 2, 2014.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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