consolidation of chalice higginsville goldfiel

Announcement made to the ASX today regarding Avoca's consolidation of the Chalice and Higginsville gold fields. Avoca has purchased 100% of Chalice Gold Ltd’s Higginsville and Chalice project for $5.8M worth of shares to be paid in two tranches, and subject to shareholder approval. Avoca has also agreed with Resolute Limited to acquire a key, centrally located tenement M15/348, in return for Avoca assuming Resolute's environmental liabilities at Higginsville.

This is an excellent outcome for Avoca and provides the Company with what is without question an excellent project portfolio from which to build a quality Australian gold mining company.