AVG Avidian Gold Corp

Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE:AVG), is pleased
to announce a non-brokered private placement financing for aggregate gross
proceeds of approximately $258,000 subject to acceptance by the TSX Venture
Exchange.


Pursuant to the private placement, it is anticipated that 287,500 units will be
issued at a price of $0.20 per Unit and 914,547 common shares will be issued on
a flow-through basis at a price of $0.22 per share. Each Unit will be comprised
of one common share (a "Common Share") of the Corporation and one common share
purchase warrant (a "Warrant"), each Warrant entitling the holder thereof to
purchase one additional Common Share (the "Warrant Share") at an exercise price
of $0.40 per Common Share for a period of 18 months following the closing date
of the private placement subject to the terms and conditions of the Warrant
(including the right of the Corporation to accelerate the expiry date of the
Warrants in certain circumstances). A finder's fee of 6% of the proceeds from
the sale of securities may be paid in cash in connection with certain
subscriptions under the private placement.


The common shares to be issued pursuant to the private placement will be subject
to a four- month hold period.


The Corporation will use the proceeds of the private placement to fund ongoing
operations, development drilling and for general administrative purposes.


Assuming all common shares are issued pursuant to the private placement as
contemplated above, there will be 22,719,984 common shares of Avatar outstanding
following the completion of the financing.


Avatar is an emerging junior oil and gas company with production in Alberta. The
Corporation's area of focus is on properties in the Pembina Cardium light oil
play that have long life high quality reserves with repeatable drilling upside.

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