Avion Run-Rate for October Greater Than 7,500 Ounces of GoldAverage Daily Production of 251 Ounces
TORONTO, ONTARIO--- Nov. 6, 2009- Avion Gold Corporation (TSX VENTURE:AVR) ("Avion" or the "Company") is pleased to announce that it produced approximately 6,278 ounces of gold during 25 days of production in the month of October (an average of 251 ounces per day). This number indicates a predicted run-rate for the month of October of approximately 7,500 ounces, based on a full month of production. Avion did not produce during the first six days of October as a result of weather related supply interruptions (See News Release dated October 7, 2009).
For the month of October, the Company realized an average grade of 3.90 g/t, with a 96.8% mill recovery. Production for the months of November and December is estimated to be approximately 7,100 ounces per month, and the Company maintains its belief that it will achieve the predicted target of 50,000 ounces for 2009.
Commenting on the October production numbers, Avion's President and CEO, Mr. John Begeman stated: "We are pleased with October's production results. The team in Mali has worked hard to get our productivity to this level and we are encouraged and believe this production rate will be maintained."
Andrew Bradfield, P.Eng., the Chief Operating Officer of the Company and a qualified person under National Instrument 43-101, has reviewed the scientific and technical information in this press release.
About Avion Gold Corporation
Avion is a Canadian-based gold company focused in West Africa. The Company holds 80% of the Tabakoto and Segala gold projects in Mali . Gold production at these projects has commenced, with approximately 50,000 ounces of production forecast for 2009 rising to 101,400 ounces in 2012. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa. Avion expects to publish its 3rd quarter financial statements on November 19th with a conference call to discuss results, the date and time of which is to be determined prior to the release.
Cautionary Notes
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the effect of the results on the future financial or operating performance of the Company, the prospective mineralization of the properties, planned exploration programs, anticipated production schedule and terms. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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