Avion Gold Corporation

Avion Gold Corporation

December 19, 2007 09:44 ET

Avion Resources Closes $300,000 Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Dec. 19, 2007) -


Avion Resources Corp. ("Avion Resources" or "the Company") (TSX VENTURE:AVR) is pleased to announce that it has completed the additional private placement financing announced on October 19, 2007 for total gross proceeds of $300,000.00. In total, the Company has closed a total of $2.5 million in equity financing, which positions the Company well to implement its business plan.

In connection with the financing, the Company has issued a total of 1,111,111 Units. Each Unit, which is comprised of one common share and one common share purchase warrant ("Warrant"), was sold at a price of $0.27. Each whole warrant will be exercised for one common share of the Company at a price of $0.36 per warrant exercised for a period of 24 months from the date of issue. Avion Resources plans to use the net proceeds to fund corporate development, including the development of its key projects, and working capital purposes.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects and statements regarding the use of proceeds. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; and other risks inherent in the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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