CORPORATE NEWS

Avellana Gold Ltd. announced contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project Avellana Gold Ltd. announced contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project
Avellana Gold Ltd. pleased to announce contracting Wardell Armstrong International as a geological consultant on Muzhievo/Beregovo project. The Head of Avellana Gold Ltd representative office Andriy Smolin: “We are happy to sign the first agreement with respect to the provision of Mineral Resources Estimate (WRE) for Muzhievo deposit and preliminary analysis of Beregovo deposit. Wardell Armstrong LLP (WAI), an independent consultancy that has provided the mineral industry with specialized geological, mining, and processing expertise since 1837. We believe that knowledge and experiences of such a world-recognized name would help to confirm our vision on resource base and strategy of development of our Ukrainian assets. We start from the basic MRE report but remained focused on a extended cooperation to update our Pre-Feasibility Study and get and Bankable Feasibility study in the shortest terms” Brian Savage , CEO of Avellana Gold Ltd. “I was honored to cooperate with Wardell Armstrong and Mr. Phill Newall previously. That makes me confident that our ambitious project would get supported by one of the best industry expertise. Our first stage will be confirmation of economic resources that belong to our mining license. Nevertheless, our next focus is set to confirm the substantial increase of polymetallic mineralization, that goes much deeper and spreads towards Beregovo license area. All that goes in line with a long-term strategy to prove the overlooked potential of Ukrainian Carpathians and settle a cornerstone of a large mining and exploration company in Ukraine. Today we are finalizing our financial strategy, so WAI report would help us to provide unbiased valuation and validate received financial commitments”