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Gold/Mining/Energy : AVL.V - AVALON VENTURES -- Ignore unavailable to you. Want to Upgrade?

To: Marcia Mazurski who wrote (1287)	8/13/1999 5:25:00 PM
From: Gary K	Respond to of 1474

Slowly but surely. Thanks for the clarification Marcia. NEWS RELEASE Avalon Ventures Ltd. Shares Outstanding 20,141,731 Working Capital $0.6 Million SEC 12g3-2(b): 82-4427 Symbol AVL:VSE AVALON AND WABASEEMOONG INDEPENDENT NATIONS SIGN MEMORANDUM OF UNDERSTANDING REGARDING CO-OPERATIVE DEVELOPMENT OF THE BIG WHOPPER PETALITE DEPOSIT Avalon Ventures Ltd. (the "Company") is pleased to announce that a Memorandum of Understanding ("MOU") has been signed with the Wabaseemoong Independent Nations ("Wabaseemoong") First Nations of Whitedog, Ontario, regarding the development of the Big Whopper Petalite deposit on the Company's Separation Rapids rare metals project, Kenora, Ontario. This agreement is a key component in the rapid advancement of the project through the feasibility study stage, which is now underway. The MOU sets out basic principles for co-operation in the development of the Big Whopper petalite deposit, which is located approximately 30 km northeast of Whitedog, within the traditional land use area ("TLUA") of Wabaseemoong. Wabaseemoong have agreed to support development of a mine at Separation Rapids provided that the environment of the TLUA is protected from potential adverse environmental effects of mining and that Wabaseemoong benefits directly from the mine. These benefits shall consist of job opportunities and training for band members and funding for the social and economic development of the band. The parties have agreed to initiate discussions forthwith toward negotiation of a comprehensive Impacts and Benefits Agreement with the objective of executing such an agreement by March 1, 2000. In the interim, the Company has agreed to provide Wabaseemoong with notice of all mine development plans, permit applications and manpower requirements, and shall use its best efforts to provide band members with employment opportunities during current and future exploration and development work programs. The Company plans to work with federal and provincial government authorities to initiate job training programs as soon as possible. Management is pleased to have the support of the Wabaseemoong people for the development of the Separation Rapids project. The Company recognized at an early stage, the legitimate concerns of First Nations people regarding new resource development in their traditional land use areas, particularly with respect to environmental issues. The Company has been pro-active in providing information and addressing First Nations' concerns over the past two years, and as a result, has developed a positive working relationship with the Wabaseemoong people, which has provided the basis for forming a co-operative partnership to develop the project. Exploration work on the property continues. The Company is awaiting approvals for its advanced exploration permit and aggregate permit in order to complete the new access road and initiate the bulk sampling program later this summer. For further information contact Donald S. Bubar, at (416) 364-4938. Corporate Information may also be accessed on the Internet at www.avalonventures.com. ON BEHALF OF THE BOARD "Donald S. Bubar" Donald S. Bubar, President No stock exchange has either approved or disapproved the information contained herein