AVZ

Avala Resources Ltd. (TSX VENTURE:AVZ) is pleased to report the filing on SEDAR
of a NI 43-101 technical report supporting the initial inferred mineral resource
for the Korkan deposit of its Timok Gold Project, as announced in a press
release on November 5, 2012. The technical report was prepared by Chris Arnold,
MAusIMM (CP), of AMC Consultants (UK) Limited ("AMC") and Deepak Malhotra, P.
Eng, PhD (SME), of Resource Development Inc. 


As previously announced, the Korkan mineral resource together with the Bigar
Hill mineral resource, is estimated at 46,500,000 tonnes for 2,400,000 ounces of
gold, using a 0.6 g/t gold cut-off. 




----------------------------------------------------------------------------
                TIMOK GOLD PROJECT MINERAL RESOURCE ESTIMATES               
----------------------------------------------------------------------------
                        Cut-off Grade             Tonnage                   
Deposit                      (g/t Au)   Category     (Mt)                 Au
                                                         -------------------
                                                              (g/t)      Moz
----------------------------------------------------------------------------
Bigar Hill                                                                  
(as at June 30, 2012)             0.6   Inferred     26.4       1.6      1.4
----------------------------------------------------------------------------
Korkan                                                                      
(as at October 30, 2012)          0.6   Inferred     20.1       1.5      1.0
----------------------------------------------------------------------------
TOTAL                             0.6   Inferred     46.5       1.6      2.3
----------------------------------------------------------------------------

1.  The gold price used in this estimate was the mean gold price for 2010
    and 2011 of US$1350/oz. First phase, extensive metallurgical test work
    is nearing completion and, based on information to date, along with
    possible projected throughput rates for the entire Timok Gold Project,
    typical mining costs and a range of processing costs and indicative
    ranges of processing recoveries it is, at this stage, believed that
    possible cut off grades lie in the range of 0.4g/t to 0.8g/t. 
2.  Mineral resources which are not mineral reserves do not have
    demonstrated economic viability. The estimate of mineral resources may
    be materially affected by environmental, permitting, legal, title,
    taxation, sociopolitical, marketing, or other relevant issues. 
3.  The quantity and grade of reported inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to
    define these inferred resources as indicated or measured mineral
    resources. 
4.  Totals and average grades are subject to rounding to the appropriate
    precision.



The technical report is available on SEDAR (www.sedar.com) and on the website of
Avala (www.avalaresources.com).


Dr Julian F. H. Barnes, a qualified person under NI 43-101, a director and the
Company's special consultant, has reviewed the technical data in this press
release.


About Avala Resources Ltd.: Avala Resources is a mineral exploration company
focused on the exploration and development of the Timok Gold Project in Eastern
Serbia. The Timok Gold Project comprises several targets, including Bigar Hill,
Korkan, and Kraku Pestar. Avala controls 100% of this newly identified
sediment-hosted gold belt which totals approximately 250 square kilometers. 


Cautionary Statement 

This press release contains 'forward-looking information' within the meaning of
applicable Canadian securities legislation. Forward-looking information is based
on reasonable assumptions that have been made by Avala as at the date of the
information and is subject to known and unknown risks, uncertainties, and other
factors that may cause actual results or events to differ materially from those
anticipated in the forward-looking information. Forward looking information in
this news release includes information with respect to the Bigar Hill and Korkan
mineral resource estimates. Mineral resources which are not mineral reserves do
not have demonstrated economic viability. The estimate of mineral resources may
be materially affected by environmental, permitting, legal, title, taxation,
sociopolitical, marketing, or other relevant issues. The quantity and grade of
reported inferred resources in this estimation are uncertain in nature and there
has been insufficient exploration to define these inferred resources as
indicated or measured mineral resources.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Avala Resources Ltd.
James Crombie, President and Chief Executive Officer
+1.450.640.0810
info@avalaresources.com
www.avalaresources.com

Avala Resources Ltd. (TSXV:AVZ)
Historical Stock Chart
From Jun 2024 to Jul 2024

Avala Resources Ltd. (TSXV:AVZ)
Historical Stock Chart
From Jul 2023 to Jul 2024