AVG Avidian Gold Corp

Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE:AVG) announces
that it has completed its previously announced private placement financing of
287,500 units ("Units") of the Corporation, each Unit consisting of one common
share (a "Common Share") and one common share purchase warrant (a "Warrant")
entitling the holder thereof to acquire a Common Share of the Corporation at a
price of $0.40 per Common Share for 18 months following the closing of the
Financing, at a price of $0.20 per Unit and 531,820 common shares issued on a
"flow through" basis pursuant to the Income Tax Act (Canada) (the "Flow Through
Shares") at a price of $0.22 per Flow Through Share, for aggregate gross
proceeds of approximately $174,500 (the "Financing"). The Corporation has paid a
6% cash commission of $1,320 to Macquarie Private Wealth Inc. in connection with
certain subscriptions under the Financing.


The Shares issued pursuant to the Financing will be subject to a four-month hold
period expiring on April 23, 2012.


With the completion of the Financing, there are now 22,337,257 Common Shares
issued and outstanding.


The Corporation will use the proceeds of the Financing to fund ongoing
operations and for general administrative purposes.


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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