TORONTO, ONTARIO -- Nov. 27, 2007 - Avalon Ventures Ltd. (TSX VENTURE:AVL) (the "Company") is pleased to announce the appointment of Mr. Peter McCarter to the Company's Board of Directors.
Mr. McCarter was Executive Vice-President, Corporate Affairs, Secretary and a director of Aur Resources Inc. prior to its acquisition this year by Teck Cominco Limited. Prior to joining Aur Resources in 1989, Mr. McCarter practiced law at the Toronto law firm of Aird & Berlis from 1978-1989, specializing in corporate, securities and resource law. He is a graduate of the University of Toronto (B.A., 1974) and York University (Osgoode Hall) where he obtained his LL.B and M.B.A degrees in 1978. Mr. McCarter is also a director of Thundermin Resources Inc. and has periodically served on several advisory committees to the Ontario Securities Commission.
Mr. McCarter has been granted 175,000 incentive stock options exerciseable at a price of $1.82 per share for a period of five years from the date of grant of the options. The options will vest at the rate of 25% per year. Any shares issuable on exercise of the options will be subject to a four month hold period beginning on the date of grant of the options. A second director is being granted 50,000 options on the same terms, to replace a similar amount exercised earlier this year prior to their expiry.
About Avalon Ventures Ltd.
Avalon Ventures Ltd. (TSX VENTURE:AVL) is a Canadian junior mineral exploration and development company, with a primary focus on rare metals and minerals with high technology applications or offering environmental benefits. Avalon currently holds a portfolio of five such projects, including three that are at, or close to, the feasibility stage. Shares Outstanding: 63,244,248. Cash resources: approximately $16.4 million.
To find out more about Avalon Ventures Ltd. (TSX VENTURE:AVL), please visit our website at www.avalonventures.com. This news release is available on the Company's official on-line investor relations site for investor commentary, feedback and questions. Investors are invited to visit the "Avalon Ventures" IR Hub at http://www.agoracom.com/ir/avalon. In addition, investors are invited to e-mail their questions and correspondence to AVL@agoracom.com or phone Don Bubar, P.Geo. President, at 416-364-4938. Mr. Bubar is the Qualified Person responsible for the technical content of this news release.
The language used in this News Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
