LONGUEUIL, QUEBEC--(Marketwired - Dec. 2, 2013) - Avala Resources Ltd. ("Avala") (TSX VENTURE:AVZ) reports the filing of a technical report in accordance with National Instrument 43-101 in support of the updated mineral resource estimate announced in Avala's October 16, 2013 news release. The technical report also includes detailed information about the metallurgical testwork carried out during 2013 on the Bigar Hill, Korkan and Kraku Pester deposits, which form part of the Timok Gold Project (news release of November 25, 2013).
The independent technical report which has an effective date of October 14, 2013 was prepared by Chris Arnold, MAusIMM CP(Geo) of AMC Consultants (UK) Limited, Deepak Malhotra, PhD, SME of Resource Development Inc., and Michael Hallewell, BSc, F.I.M.M.M, F.M.E.S, F.S.A.I.M.M, C.Eng of SGS Minerals Services UK Ltd. The report is available on SEDAR (www.sedar.com) and on the website of Avala (www.avalaresources.com).
About Avala Resources Ltd.: Avala Resources is a mineral exploration company focused on the exploration and development of the Timok Gold Project in Eastern Serbia. The Timok Gold Project comprises the Bigar Hill, Korkan, and Kraku Pestar deposits. Avala controls 100% of this recently identified sediment-hosted gold belt which totals approximately 250 square kilometers.
Avala had approximately $4.5 million in its treasury at September 30, 2013. Avala's issued and outstanding share capital totals 254,492,223 common shares, of which approximately 53.1% is held by Dundee Precious Metals Inc. (TSX:DPM). The common shares of Avala trade on the TSX Venture Exchange under the symbol 'AVZ'.
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 press release.