significant resources growth at antas north..., page-2

Highlights:-

The Company is pleased to report a 48% growth1 in JORC Reported Mineral Resources at the Antas North Copper Deposit, in Carajas, Brazil.

Antas North Deposit - JORC Reported Mineral Resource contained Copper increased by 48%1 for:

11.04Mt at 1.65% Copper and 0.38g/t Gold for 183,000 tonnes of contained Copper and 135,000 ounces of Gold

Included in the above is an exceptional 52% increase in contained sulphide copper which underscores Antas North as the Company’s most advanced development target.

This substantial expansion illustrates: well above industry average copper grades, attractive gold credits and improved resource confidence all serving to enhance economics in the Preliminary Economic Assessment.
? The new resource represents excellent progress towards Avanco’s target of 600,000t of contained copper (currently 460,000 tonnes) to support a +30,000tpa copper production objective.

Antas North now exceeds a “10,000,000 tonnes” threshold, considered a key factor in project feasibility. Moreover, Antas North is still open at depth, down plunge and remains very prospective for further resource growth.

Focus has now shifted to the completion of the Preliminary Economic Assessment for Antas North and the ramping-up of drilling at Pedra Branca (recent Xstrata acquisition).

The Company’s copper inventory stands at 460,000 tonnes with the next significant increase expected to come from Pedra Branca.

Avanco owns 100% of one of the largest mineral license portfolios in the world class Carajas Mineral Province, which it believes to host substantial exploration potential.