BELLINGHAM, Wash., Feb. 18, 2004 (PRIMEZONE) -- Avalon Gold Corporation (OTCBB:AVGC) announces the acquisition of a 90% interest in the LSA claims located in the Battle Mountain region in Lander County, Nevada. The claims are surrounded by and shares several borders with Battle Mountain Gold Company's Phoenix Project, a large gold, silver and copper mining and processing operation. Newmont Mining Corporation, one of the world's largest mining companies wholly owns Battle Mountain Gold and is the operator of the Phoenix Project.
The LSA claims consist of seven lode mining claims covering an area of approximately 140 acres. The property is subject to a 10% carried interest but Avalon Gold has the first right of refusal in purchasing up to 8% of the carried interest from the vendor.
Surface grab samples from two of the LSA claims have been taken and sent to ALS Chemex Labs in Elko County, Nevada for assaying and the results will be released within the next few days.
"The proximity of our claims to the Phoenix Project is extremely exciting," states Robert Waters, President.
Although Avalon Gold is still interested in the Mayske Project, located in Odessa, Ukraine, the Company has decided to put its interest in the Mayske property on hold, in order to focus on the newly acquired LSA properties.
Avalon Gold Corporation is an aggressive gold mining company focused on finding, exploring and developing exceptional gold properties internationally.
/s/ Robert Waters
Robert Waters, President
For further information contact Joseph Beyrouti at: 1-888-488-6882 Visit our web site at www.avalongold.ws.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Avalon's filings with the Securities & Exchange Commission.