Avala Resources Ltd.
TSX VENTURE : AVZ

Avala Resources Ltd.

April 29, 2011 09:30 ET

Avala Resources to Transfer Licences in Serbia

LONGUEUIL, QUEBEC--(Marketwire - April 29, 2011) -Avala Resources Ltd. (TSX VENTURE:AVZ) (the "Company" or "Avala") announces that it has entered into an agreement to transfer to Queensland Minerals Ltd. ("Queensland") a group of mineral licences located in Serbia in consideration for a 2% NSR royalty and reimbursement of the costs spent by the Company on the licences, which amount to $495,000.

The group of licences is comprised of four near contiguous exploration licences known as the Lisa, Kotraza, Kraverica and Dubac licences covering an area of 320 km2 in central-southern Serbia. Exploration activities conducted on the project consisted mainly of high density stream sediment sampling, soil samples, rock chip samples and channel sampling. No drilling has been conducted on the project in recent times.

The closing of the transaction between the Company and Queensland is subject to certain conditions including the approval of the TSXV as the Company and Queensland have common directors and officers.

This press release contains forward-looking information. In particular, this press release contains statements concerning the completion of the transaction between the Company and Queensland. Forward-looking information is subject to known and unknown risks and uncertainties, and depends on assumptions and other factors, all of which may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

About Avala Resources Ltd.: Avala is a recently-formed company focused on the exploration and development of the Potoj Cuka sediment-hosted gold project and the Timok gold-copper project in Serbia. 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.

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