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Avion Gold Corp
Symbol AVR
Shares Issued 441,079,443
Close 2012-03-22 C$ 1.20
Market Cap C$ 529,295,332
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Avion still monitoring coup, hopes for early resolution

2012-03-23 13:52 ET - News Release

Mr. John Begeman reports

AVION CONTINUES TO MONITOR EVENTS OF MILITARY COUP IN MALI WHILE OPERATIONS CONTINUE AT SITE WITHOUT INTERFERENCE OR INTERRUPTION

Avion Gold Corp. continues to monitor the situation and is keeping watch on events in Mali where members of the national army have mounted a coup.

Avion's management team, board of directors and the Forbes & Manhattan advisory team have spoken to and continue to have communications with Avion's management team at site in Mali. The company is also happy to report that Avion board members, Pierre Pettigrew, former foreign affairs minister of Canada, and Major-General (retired) Lewis MacKenzie, as well as Forbes & Manhattan advisory board member General John Abizaid, U.S. Army (retired), are all working closely with management team, and their respective contacts in the government and the military. Avion is taking every step to ensure that it has the best possible advice and information available in such a challenging time.

Currently, the operations at site are continuing without interference, and all of the company's personnel are safe and accounted for both at the mine site and in Bamako. Avion looks forward to the borders and airports reopening on Tuesday.

Retired general Lewis MacKenzie, Avion board member, has also noted, "The modest amount of violence to date on both sides is encouraging and suggests an opportunity for an early resolution of the conflict centred in and around the capital, Bamako."

John Begeman, president and chief executive officer of the company, said, "We have an excellent advisory team helping us monitor the situation, and we will continue to monitor the situation in Mali at our sites and in Bamako and will provide further updates as information becomes available to us."

We seek Safe Harbor.

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