SUNSTONE METALS LTD — Capital/Financing Update 2009

Sep 10, 2009

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ASX Release 11 September 2009

SHARE PLACEMENT

Avalon Minerals Ltd (ASX:AVI) is pleased to announce that the Company has successfully undertaken a placement of 13,000,000 shares at 10 cents per share to raise $1,300,000. The directors are pleased with the level of support for the Company.

The shares have been placed with sophisticated investors and clients of Indian Ocean Capital Ltd under the Company’s 15% new issue allowance.

The funds will enable the Company to complete the following activities over the next 6 months –

• RC drilling and diamond drilling programs at Viscaria

• Completion of application for a mining concession application for the Viscaria tenements

• Progressing Viscaria feasibility and de-watering studies.

– ENDS –

Released by: On behalf of: Nicholas Read/Jason Cunningham Mr David McSweeney Read Corporate Managing Director and CEO Telephone: +61 (0)8 9388 1474 Avalon Minerals Limited Mobile: +61 0439 399 318

Avalon Minerals Ltd ACN 123 184 412 PO Box 165 West Perth WA 6872 Telephone: +61 8 9322 2752 Mobile: 0439 399 318 Email: david@avalonminerals.com.au Web: www.avalonminerals.com.au ASX Code: AVI Directors David McSweeney (Managing Director & CEO) Tan Sri Abu Sahid Mohamed (Non-Executive Director) Stephen Stone (Non-Executive Director) Gary Steinepreis (Non- Executive Director)