Ann: Drilling Success Continues at Pedra Branca, page-2

Drilling Success Continues at Pedra Branca ASX: AVB (‘AVANCO’ OR ‘THE COMPANY’) is pleased to report that drilling at Pedra Branca East (PBE)1 and Pedra Branca West (PBW)1 has verified high grade copper-gold intersections over substantial widths as well as demonstrating extensions of mineralisation at depth and along strike. Assay Results include: APBD17-64 19.60 m @ 2.25% Cu, 0.60 g/t Au from 454.70 m 2 Incl. 4.60 m @ 7.43% Cu, 1.53 g/t Au from 469.00 m 2 APBD17-68 17.50 m @ 1.48% Cu, 0.40 g/t Au from 624.50 m 2 Incl. 6.50 m @ 1.98% Cu, 0.45 g/t Au from 628.00 m 2 APBD17-72 19.00 m @ 2.14% Cu, 0.05 g/t Au from 312.00 m 2 Incl. 2.55 m @ 6.62 % Cu, 0.66 g/ Au from 316.30 m 2 APBD17-73 3.80 m @ 2.56% Cu, 0.78 g/t Au from 248.90 m 2 Highlights • At PBE, high grade copper-gold zones intersected at depth and along strike are interpreted to continue down plunge • At PBW drilling targeted on geological re-interpretation was very successful, intersecting high grade copper-gold mineralisation that remains open at depth and along strike • Management are confident that, subject to further drilling and evaluation, that PBW has potential to provide a significant expansion to the current PBE Feasibility Study of the 24,000 t/pa copper Pedra Branca project 3 . • An upgraded Mineral Resource Estimate (MRE) for PBW has commenced • Infill drilling underway at PBE to support the DFS, and Resource to Reserve conversion