SUNSTONE METALS LTD — Capital/Financing Update 2015

Jun 11, 2015

12 June 2015

AVALON MINERALS COMPLETES PLACEMENT

Highlights

• Placement to a new, professional investor for 12 million shares at $0.035 per share, a 25% premium to Avalon’s Volume Weighted Average Price (‘VWAP’) for the last 5 trading days of $0.028;

• Proceeds from the equity raising will be used to progress Avalon’s flagship Viscaria Copper Project in northern Sweden and for working capital.

Avalon Minerals Ltd (ASX: AVI) (‘Avalon’ or ‘Company’ ) announces that it has arranged a placement with a new, professional investor in Europe. The placement is for 12 million shares at $0.035 per share, which is a 25% premium to Avalon’s VWAP for the last 5 trading days. The placement will equate to 4.99% of the issued capital of Avalon.The funds will be used to progress the Company’s Viscaria Copper Project in northern Sweden and for working capital

Avalon’s Managing Director, Mr Malcolm Norris said, “It is extremely pleasing to complete this placement at a premium to the current market price. Despite the resources sector facing challenging times, this placement, on the back of a successful placement in March and April, confirms the solid financial support Avalon continues to receive”.

The placement of 12 million shares is within the Company’s available capacity under the ASX Listing Rules. An Appendix 3B and other requisite information will be lodged with ASX upon issue and allotment of the placement shares.

For further information please visit www.avalonminerals.com.au or contact:

Mr Malcolm Norris Managing Director Avalon Minerals Ltd Tel: 07 3368 9888 Email: malcolm.norris@avalonminerals.com.au