AGREEMENT WITH MAJORCOPPER MINER BRINGSTHREE FOLD INCREASE TOTHE...

AGREEMENT WITH MAJOR
COPPER MINER BRINGS
THREE FOLD INCREASE TO
THE RIO VERDE PROJECT
The Company is very pleased to announce the closure on a transaction
which provides Avanco 100% of an extensive tenement package adjacent
to the Rio Verde Project. The new tenure hosts an extremely prospective
14km long copper trend which clearly justifies a significant increase and
widening of the Rio Verde drill programme. Additional rigs have been
sourced and are mobilising.
HIGHLIGHTS
 Transaction completed for 100% interest in an extensive land
package which secures additional ground along strike from
the Rio Verde Project.
 The new tenements include an extremely prospective 14km
long anomalous copper trend hosting immediate and high
priority drill targets.
 The potential for a large discovery is underscored by Xstrata
Copper (Xstrata) who have elected to carry an ?option? to
?back-in? and form a joint-venture with Avanco.
 New tenure is adjacent to Rio Verde and comprises:
 Three exploration licenses for a total of 16,000ha
 Two exploration applications for a total of 10,000ha
 The three fold increase in the Rio Verde land holding
increases Avanco?s total copper footprint to a massive
38,800ha (approximately 388sq km?s).
 Three rigs are currently drilling at Rio Verde and Serra Verde
with another mobilising in the coming days. The ramp-up is
ongoing with a total of six rigs expected before the end of May
2011.