Ann: CentroGold Exceeds 1.8 Million Ounces, page-2

CentroGold Resources Increase 45% and Exceeds 1.8 Million Ounces

ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to announce a 45% increase in JORC Reported Resources for the CentroGold Project.

• Maiden Resource Estimate for Chega Tudo1 of: 11.3 million tonnes at 1.6 g/t gold, containing 577,000 ounces of gold
• The combined Mineral Resource Estimate (MRE) for CentroGold increases by 45% to: 31.5 million tonnes at 1.8 g/t gold, hosting 1.86 million ounces of gold
• Focus has shifted to completing the Scoping Study with the inclusion of Chega Tudo, which has been rescheduled for the first quarter of 2018
• Four rigs are operational, with an aggressive drill programme at the nearby Blanket and Contact Zones to confirm and further improve resource confidence for the Scoping Study
• Assays from confirmation drilling at the Blanket Zone are expected before year end

Commenting on the on the new JORC Reported Resources, Simon Mottram, Exploration Director said: “The increased resource estimate represents an exceptional increase in contained gold ounces which underscores CentroGold as an advanced project with outstanding potential. This substantial expansion illustrates above typical industry average gold grades, with improved resource confidence, serving to enhance economics in forthcoming Scoping and Preliminary Feasibility Studies.”