Avion Gold Corporation (TSX VENTURE:AVR)(OTCQX:AVGCF) ("Avion" or the "Company")
announced today that, as a result of a regulatory review, it has re-filed its
unaudited interim financial statements for the period ended September 30, 2010
to indicate that an auditor has not performed a review of the Company's interim
financial statements. The unaudited interim financial statements for the period
ended September 30, 2010 remain otherwise unchanged. Avion's 2010 year-end
financial statements were audited by McGovern, Hurley and Cunningham LLP and are
not subject to re-filing.


About Avion Gold Corporation

Avion is a Canadian-based gold mining company focused in West Africa that holds
80% of the Tabakoto and Segala gold projects in Mali. Gold production commenced
at these projects in 2009 with just over 51,290 ounces produced. 2010 production
was 87,630 ounces of gold. Production sustainability will continue to be
supported and enhanced by an aggressive 2011 drill program over an approximately
600 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 Hounde exploration
property in Burkina Faso continues to return promising results. These properties
will be subject to a preliminary 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 developing an underground mine at the Tabakoto deposit, and is
preparing to mine underground at the Segala deposit. Avion has a highly skilled
management team, with a focus on growth and consolidation within West Africa.


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.


Certain information set forth in this press release contains "forward-looking
statements", and "forward-looking information under applicable securities laws.
Except for statements of historical fact, certain information contained herein
constitutes forward-looking statements which include management's assessment of
Avion's targeted production, future plans, operations and mineral resource
estimates and are based on Avion's current internal expectations, estimates,
projections, assumptions and beliefs, which may prove to be incorrect. Some of
the forward-looking statements may be identified by words such as "expects"
"anticipates", "believes", "projects", "plans", and similar expressions. These
statements are not guarantees of future performance and undue reliance should
not be placed on them. Such forward-looking statements necessarily involve known
and unknown risks and uncertainties, which may cause Avion's actual performance
and financial results in future periods to differ materially from any
projections of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include, but are not
limited to, those risks described in the annual information form of the Company.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Avion undertakes no obligation to update
forward-looking statements if circumstances or management's estimates or
opinions should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance on forward-looking statements.
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