Mawson West Makes Strategic Investment in Australia-based Avalon Minerals

Mawson West Ltd., an Australia-based copper company listed on the Toronto Stock Exchange, has entered into an agreement with Australian-based mineral exploration and development company, Avalon Minerals Limited, to invest US$3.9 million. The Agreement consists of a placement of Avalon shares to be conducted in two tranches. The first tranche comprises approximately 35.8 million shares at 6.5 cents per share. Tranche two comprises approximately 23.8 million shares at 6.5 cents per share, and is subject to approval by Avalon shareholders. In addition to Mawson’s financial investment, the parties will form a strategic alliance encompassing technical, business development, mining, metallurgy and marketing assistance to assist Avalon in advancing projects. Avalon has two project areas in Sweden - the Viscaria Project, located approximately 1,200km north of Stockholm, and the Adak Project located 400km south of Viscaria.