Mr. Marc Levy reports

AVARONE OPTIONS THE BORYS LAKE PROPERTY

On Nov. 24, 2015, Avarone Metals Inc. received TSX Venture Exchange approval for an agreement with an arm's-length vendor by which the company can earn a 100-per-cent interest in the Borys Lake lead-zinc project, which covers an area of about 2,882 hectares in the southwestern edge of the LaRonge gold belt, Saskatchewan. The company will earn a 100-per-cent interest in the property by completing the following: the issuance of six million common shares upon TSX Venture Exchange approval, the payment of further cash considerations totalling $200,000 over the next three years and the completion of $1-million in qualified exploration expenditures within four years from the date of approval.

The Borys Lake property has been explored and developed sporadically since the mid-1950s by several juniors, most recently Claude Resources Inc. in the early 1990s. This comprehensive package includes all four mineralized zones of this deposit: the Main, Mac, Cam and Will. The Borys Lake deposit occurs within northeast-trending, steep northwesterly dipping supracrustal rocks at the eastern margin of the Crew Lake belt of the LaRonge domain. These rocks comprise mainly hornblendic and psammopelitic biotitic gneisses that are variably migmatized. The gneisses have suffered at least one major phase of folding and have attained upper amphibolite facies metamorphism.

The deposit lies on the northwestern limb of a major antiform. The core of the antiform, southeast of the deposit, is occupied by predominant hornblendic gneisses. Biotitic gneisses predominate to the northwest of the deposit. The immediate vicinity of the deposit is underlain by intercalated biolitic gneisses, hornblendic gneisses and granulites, calc-silicates, and quartzities. These rocks are invaded by a sill-like body of granodiorite southwest of Borys Lake.

Footwall rocks are mainly hornblendic but include intercalations of biotitic gneiss and quartzite. The latter, nine to 24 metres thick, lies 45 metres to 120 metres structurally below the Main zone mineralization and includes laterally persistent, conformable pyrrhotite-pyrite-graphite mineralization. The hangingwall rocks are formed mainly by biotitic and biotite-hornblende gneisses with subordinate hornblende gneiss and calc-silicate units.

The Main zone is hosted predominantly within an approximately conformable, northeast-trending shear zone, represented mainly by biotite-chlorite schist. Conspicuous wall rock alteration is variably developed along the mineralized zone. The latter comprises mostly silicification, biotitization, chloritzation and sericitization, accompanied by minor talk and kaolin. Locally, masses of actinolite-tremolite-diopside form the predominant alteration, especially where galena becomes conspicuous.

Mineralization is formed by pyrrhotite and sphalerite with lesser galena, pyrite and chalcopyrite. The sulphides occur as fine dissemination, isolated biebs and rare veinlets. Locally, massive sphalerite-galena mineralization occurs within quartz-rich veins and lens (silification). The No. 1 lens apparently plunges 30 to 40 degrees to the southwest, within the plane of the shear zone.

In 2011, the project was examined with a VTEM, mag/EM system, and subsequent interpretation was successful in identifying known mineralization, as well as defining new targets that may represent additional zones of mineralization.

Peter Born, PGeo, the company's qualified person, has supervised the preparation and approved the scientific and technical content of this release.

We seek Safe Harbor.