CORPORATE NEWS

The State Geology and Subsurface Survey of Ukraine Extended the Special Permits for Subsoil Use for Avellana Gold Ltd. The State Geology and Subsurface Survey of Ukraine Extended the Special Permits for Subsoil Use for Avellana Gold Ltd.
The State Geology and Subsurface Survey of Ukraine issued an order to extend the operation of special permits for subsoil use for the companies «KRK» and «ZGRK» owned by Avellana Gold Ltd. The special permits provide for geological exploration and experimental development of gold-polymetallic ores of the Kvasovo ore field and Beregovo deposit in Transcarpathia. The operation of the special permits, in accordance with the order of the State Geology and Subsurface Survey of Ukraine, has been extended for five years. In addition, in the fall, Avellana Gold Ltd plans to start land reclamation and utilization of dumps remained as a result of the previous company operation on the territory of Muzhievo deposit in Transcarpathia.