CentroGold Project Approaches 2 Million Ounces

Avanco is pleased to announce an approximate 20% increase in contained gold ounces at the Blanket deposit, in the Company’s CentroGold Project.

• Inferred and Indicated Mineral Resource Estimate (MRE) for Blanket 1 has increased to: 13.3 million tonnes at 1.9 g/t gold, containing 829,000 ounces of gold

• This work has resulted in a 10% increase in gold grade and a 9% increase in tonnes, for an approximate 20% increase in contained ounces of gold

• The Blanket tonnes have increased by 9% following the inclusion of only four additional drill holes highlighting the ease of expanding the ore body

• The Inferred and Indicated MRE for the CentroGold project increases to: 6 million tonnes at 1.9 g/t gold, hosting 1.999 million ounces of gold

• Drilling for resources has concluded at Contact. Final assays are expected within weeks and thereafter will facilitate an update to the MRE at Contact

• Completion of the Scoping Study will follow on from completion of the MRE

• Infill drilling for the purposes of defining Ore Reserves at Blanket has commenced. Drilling is targeting the upper half of the orebody to provide greater confidence to the early years of mining

• Continued and substantial resource growth at CentroGold is expected

Fonte: Avanco Resources