Avion Gold Corporation
OTCQX : AVGCF
TSX : AVR

Avion Gold Corporation

February 24, 2011 08:00 ET

Avion to Release 2010 Financial Results on March 22, 2011

Avion to Attend PDAC at Booth #2542

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2011) - Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or the "Company") announces its plan to file its annual financial statements and MD&A, for the period ending December 31, 2010, on SEDAR by Tuesday March 22, 2011 at 7:00 AM (EST).

Following the release, Avion plans to host a conference call at 10:30 AM (EST) on March 22, 2011. To participate in the call please dial:

International: +1 416-340-9432
Toll Free: 877-440-9795
Toronto Area: 416-340-9432

A play-back recording will be available shortly after the completion of the call on Avion's website at www.aviongoldcorp.com.

PDAC Attendance

Avion is pleased to announce that it will be attending the PDAC at the Investors Exchange, Booth 2542. In the PDAC Booth Assignments this location is allocated to Cash Minerals; however this year it will be occupied by Avion Gold Corporation.

Avion encourages its shareholders and all interested parties to come by the booth and discuss Avion's operations and exploration opportunities with management.  

Exhibition Hours:  Sunday March 6th: 10am - 5:30pm 
  Monday March 7th: 10am - 5:30pm 
  Tuesday March 8th: 10am - 5:30pm 
  Wednesday March 9th: 9am - Noon 
   
Location: Avion Gold Corp. - Booth 2542
Metro Toronto Convention Centre-South Building 
800 Level

About Avion Gold Corporation

Avion is a Canadian-based gold mining company focused in West Africa that holds 80% of the Tabakoto and Ségala gold projects in Mali. Gold production commenced at these projects in 2009 with just over 138,660 ounces of gold produced to date. 2011 production is estimated to be 100,000 ounces. Production sustainability has been supported and enhanced by an aggressive drill program over an approximately 500 km2 exploration package that both surrounds and is near to the Company's existing mine infrastructure. The current mineral resources estimate for the Tabakoto project demonstrates several sources of excellent grade open pit and good grade underground mineral resources thus providing significant flexibility for Avion's future mining plans. Additionally, the 1,670 km2 Houndé exploration property in Burkina Faso has returned promising results. These properties are the subject of an approximate US$ 10 million dollar, approximate 60,000 metre, drill-focused, exploration program in 2011. Avion continues to progress towards its medium term goal of 200,000 ounces of gold per year and a longer term goal of organic growth through development of its exploration properties. The Company is open pit mining at the Dioulafoundou and Tabakoto South Deposits and developing an underground mine at the Tabakoto deposit, and is preparing to mine underground at the Ségala deposit. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.

Don Dudek, P.Geo., the Senior Vice President, Exploration of the Company and a qualified person under National Instrument 43-101, has reviewed the scientific and technical information in this press release. 

Cautionary Notes

The ability of Avion to increase production to 200,000 ounces of gold per year has not been the subject of a feasibility study and there is no certainty that the proposed expansion will be economically viable.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact and the timing of the financial results on the Company, statements with respect to the development potential and timetable of the Mali projects; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. 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: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; ability to successfully integrate the purchased properties; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company which is available under the profile of the Company on SEDAR at www.sedar.com. 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.

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