Avion Gold Corporation

COMPANY DATA | INTRODUCTION | PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

Address:	65 Queen Street West, Suite 800 Toronto, Ontario Canada M5H 2M5
Tel No.:	(416) 861-9500
Fax No.:	(416) 861-8165
Web Site:	www.aviongoldcorp.com
Corporate Email:	info@aviongoldcorp.com
Contact Person:	Michael McAllister
Position:	Manager, Investor Relations

COMPANY DATA

Traded Market:	TSX
Traded Symbol:	AVR
Outstanding Shares:	366,681,491
Fully Diluted:	429,991,944
52 Week High:	$ 0.91
52 Week Low:	$ 0.30
Present Price:	Click Here

INTRODUCTION

Avion Gold Corporation is a Canadian-based gold mining company focused in West Africa. The Company holds 80% of the Tabakoto and Segala gold projects in Mali. Additionally, the newly acquired 1,670 sq.km Hounde exploration property in Burkina Faso is expected to return good results from an ongoing drill program. The longer term goal of the Company is to ramp production to 200,000 ounces in 2012. Avion has a highly skilled management team, with a focus on growth and consolidation within West Africa.

PROJECT IN HAND

Tabakoto and Segala Gold Projects, Mali

Avion holds 80% of the Tabakoto and Segala gold projects in Mali. The remaining 20% interest is owned by the Government of Mali.

Mali is Africa's third largest gold producer. Western Mali Gold Belt has more than 38 million ounces of resources. Gold projects account for approximately 80 percent of mining activity in Mali. Avion is Mali's fourth largest gold company.

The Tabakoto and Segala properties, approximately 200 km south of the city Kayes, are situated in a major gold mining district. Anglogold Ashanti/IAMGOLD (Sadiola Mine) and Randgold (Loulo Mine) operate in the area. Gold production commenced at these projects in 2009 with just over 51,000 ounces produced; 2010 production is estimated at 75,000 to 85,000 ounces.

Waste rock stripping at the Dioulafoundou deposit, located 3.8 kilometres from the Tabakoto process plant, started in late October 2010. The Dioulafoundou deposit has open pit Indicated Mineral Resources of 502,000 tonnes grading 5.16 g/t Au totalling 83,400 ounces of gold, and open pit Inferred Mineral Resources of 105,000 tonnes grading 5.92 g/t Au totalling 19,900 ounces of gold. Management expects that mill feed in 2011 will come primarily from this deposit as the Company transitions from open pit mining at Segala to underground mining at the Tabakoto and Segala deposits.

In October 2010, Avion processed 64,500 tonnes of ore at an average grade of 4.53 g/t Au, with a 97.3% mill recovery, for gold production of 9,123 ounces from its Tabakoto and Segala operations. The Tabakoto and Segala operations continue to produce a consistent level of gold each month. Production since last June has been over 7,200 ounces per month, and the Company expects this to continue for the remainder of 2010.

Hounde Gold Project, Burkina Faso

Avion acquired 100% interest in the 1,670 sq.km Hounde property in Burkina Faso from Avocet Mining PLC. Hounde property lies within an emerging gold camp, and is located 60 km southwest of SEMAFO's Mana mine (which hosts estimated mineral reserves and resources totalling 2.35 million ounces of gold and inferred mineral resources totalling 910,000 ounces of gold). The Hounde property is centred approximately 250 km southwest of Ouagadougou, the capital of Burkina Faso.

The mining industry in Burkina Faso is growing at a rapid rate. Currently six gold mines are in production or development in Burkina Faso. In 2011, it is expected that Burkina Faso will become the fourth largest gold producing country in Africa.

The Hounde property hosts at least eight gold zones of which the most significant discovered to date (the Vindaloo zone) returned up to 8.91 g/t Au over 29 metres (estimated 20 to 21 metres true width). Highlights of the Vindaloo initial resource estimate at a 1.0 g/t Au cut-off grade are as follows:

· 883,000 tonnes Indicated Mineral Resources at 2.23 g/t Au totalling 63,000 ounces;
· 5,725,000 tonnes Inferred Mineral Resources at 2.97 g/t Au totalling 547,000 ounces.

In 2010 Avion initiated an approximately US$12 million exploration program with over 70,000 metres of drilling planned. Underground mine development of the Tabakoto deposit is now well established. Underground development of the Segala deposit is planned to commence in early 2011.

Kenieba Project

In early 2010, Avion acquired the Kenieba Property from Great Quest Metals Limited. The Kenieba Property lies adjacent to Avion's Tabakoto property, approximately 6.5 km southwest of the Tabakoto Mine and hosts the Djambaye II deposit (324,000 ounces of gold grading 3.92 g/t Au).

Kofi Project

In April 2010, Avion announced the planned acquisition of the Kofi Property from Axmin which is located nearby Avion's Tabakoto Project. This acquisition adds Indicated Mineral Resources of 238,000 ounces and Inferred Mineral Resources of 299,000 ounces to Avion's resource base.

July 2010 Resource Base
	Tonnes	Grade (g/t Au)	Ounces (Au)
Measured & Indicated (1 to 2 g/t Au Cut-off)	14,998,000	3.67	1,773,000
Inferred (1 to 2 g/t Au Cut-off)	14,903,000	3.25	1,550,000

MANAGEMENT

Management Team

John Begeman, P.Eng., President, CEO & Director
Mr. Begeman is a mining engineer with over 30 years of mining experience. He is currently the President and CEO of Valencia Ventures Inc.

Don Dudek, P.Geo., Senior Vice President, Exploration & Director
Mr. Dudek has held various roles with junior to senior exploration and mining companies over the past 25 years.

Andrew Bradfield, P.Eng., COO
Mr. Bradfield has over 27 years of operations, technical, and management experience in the mineral resource industry.

Greg Duras, CFO
Mr. Duras has more than a decade of corporate and project finance experience in the resource sector.

Board of Directors

Stan Bharti, Chairman
Bruce Humphrey, Director
John Begeman, President, CEO & Director
Don Dudek, Senior Vice President, Exploration & Director
Honorable Pierre Pettigrew, Director
Major General (Ret.) Lewis MacKenzie, Director
George Faught, Director

NEWS UPDATE

On January 11, 2011, Avion Gold Corp. announced the results from 22 drill holes totalling 4,458 m completed over the Koli project in Q4 2010. Significant results include: 4.5 m of 50.99 g/t Au, 14.7 m of 9.14 g/t Au, and 11.2 m of 13.44 g/t Au.

On January 10, 2011, Avion Gold Corp. announced that Great Quest Metals Ltd. renewed the exploration permit on the Comifa concession on January 7, 2011, and has executed an agreement which authorizes the transfer of the concession to Tambaoura Mining, a Malian subsidiary of Avion Gold Corp.

On January 5, 2011, Avion Gold Corp. announced it had record monthly production of approximately 9,171 ounces of gold in December 2010, from the Tabakoto/Segala operations in Mali, and record quarterly production of approximately 26,121 ounces of gold in the fourth quarter of 2010.

On December 30, 2010, Avion Gold Corp. issued an updated resource estimation for eight deposit groups which comprises the Tabakoto project. Average grade of the Tabakoto deposit measured and indicated mineral resources increased 72% from 3.47 g/t Au to 5.98 g/t Au; Average grade of the Tabakoto deposit inferred mineral resources increased 46% from 3.66 g/t Au to 5.33 g/t Au.

On December 29, 2010, Avion Gold Corp. announced that it has closed the acquisition of the Kofi Nord, Kofi Dabora, Walia (ACGRI) and Dianissi concessions, which form part of the Kofi property, from AXMIN Inc.

On December 24, 2010, Avion Gold Corp. announced that its common shares will commence trading on the Toronto Stock Exchange on December 24, 2010 at market open. The Company's stock symbol will remain AVR.

On December 16, 2010, Avion Gold Corp. announced that it intersected additional high grade gold mineralization at its Tabakoto project. Highlights include 56.08 g/t Au over 11.4 meres, including 1,508.07 g/t Au over 0.4 metre.

On November 24, 2010, Avion Gold Corp. released its financial results for the third quarter of 2010. Avion Gold produces 23,609 ounces at cash cost of US$498, and earns US$13.58 million in Q3 2010.

On November 11, 2010, Avion Gold Corp. released new drill results for the northern end of the Tabakoto pit. Highlights of the NW1 and NW2 zones include the following:

· 12.07 g/t Au over 12.5 m;
· 3.58 g/t Au over 8.6 m;
· 2.89 g/t Au over 6.9 m;
· 5.33 g/t Au over 2.25 m.

On November 4, 2010, Avion Gold Corporation announced that October 2010 monthly production of approximately 9,123 ounces of gold from its Tabakoto and Segala operations in Mali, West Africa. Year to date gold production for 2010 is approximately 70,663 ounces.

In October 2010, Avion processed 64,500 tonnes of ore at an average grade of 4.53 g/t Au, with a 97.3% mill recovery, for gold production of 9,123 ounces. Management expects to exceed the fourth quarter production target of 20,000 ounces of gold.

On November 1, 2010, Avion Gold Corp. announced that it plans to file its interim financials and management's discussion and analysis (MD&A), for the period ending September 30, 2010, on SEDAR by Wednesday, November 24, 2010, at 7 a.m. (EST).

Following the release, Avion plans to host a conference call at 11 a.m. (EST) on November 24, 2010. To participate in the call please dial:

International: 1-416-340-2216
Toll Free: 877-240-9772
Toronto area: 416-340-2216

In addition, the Company announced the appointment of Michelle Roth to the position of Investor Relations Consultant, effective November 1, 2010. Ms. Roth has over 25 years of investor relations experience.