ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to report a 37% increase in contained gold ounces, and a 34% increase in gold grade at the Contact deposit within the CentroGold project. • The Indicated and Inferred Mineral Resource Estimate (MRE) for Contact 1 has increased to: 8.2 million tonnes at 3.1 g/t gold, containing 811,000 ounces of gold • Infill drilling has resulted in a 34% increase in gold grade and a 2% increase in tonnes, for a 37% increase in contained ounces of gold • The Inferred and Indicated MRE for the global CentroGold project now increases to: 32.8 million tonnes at 2.1 g/t gold, hosting 2.217 million ounces of gold • Within the Contact MRE, Indicated Mineral Resources have increased by 203% to 509,000 ounces at a grade of 3.6 g/t gold • Additional high-grade and visible gold was discovered on sections not previous drilled fully and on new infill sections. This accounts for the substantial upgrade to the MRE at Contact 2 • These results at Contact and the recently completed upgrade to the Blanket MRE, both have the potential to significantly improve the economics of the pending Scoping Study, which is now set for completion • Drilling to define Ore Reserves at the neighbouring Blanket has commenced
