2016-02-25 10:10 ET - News Release
Mr. Marc Levy reports
AVARONE CORPORATE UPDATE
Avarone Metals Inc. has provided the following corporate update.
After careful consideration, the company elected to delist from the TSX Venture Exchange and list on the Canadian Securities Exchange effective as at market open on Jan. 20, 2016. Simultaneously, the company performed a detailed review and analysis of its assets and go forward plan.
The company currently intends to focus on the following assets.
Borys Lake project
The Borys Lake lead-zinc project covers an area of approximately 2,752 hectares in the southwestern edge of the LaRonge gold belt, Saskatchewan.
Wildnest and Phantom Lake properties
Wildnest Lake property
This property consists of two contiguous claims totalling 1,101 hectares. The property is located in the Manson Bay area of Wildnest Lake and is 43 kilometres northwest of Flin Flon, Man.
Phantom Lake property
The Phantom Lake property consists of five contiguous claims (totalling 64 hectares) situated at Phantom Lake, approximately three kilometres south of Flin Flon, Sask.
Additionally, the company is actively investigating other assets and partnership opportunities within the resource sector that could bring maximum enhancement to shareholder value in the near term.
We seek Safe Harbor.