AVG Avidian Gold Corp

Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE:AVG), today
announces that it has completed a private placement financing of 545,454 common
shares ("Shares") of the Corporation at a price of $0.55 per Share for aggregate
gross proceeds of approximately $299,999 (the "Financing"), subject to final
acceptance by the TSX Venture Exchange. The Corporation has paid a 7% cash
commission of $21,000 to Ironwood Energy Capital (HK) Ltd. in connection with
the Financing.


The Shares issued pursuant to the Financing will be subject to a four-month hold
period expiring on August 29, 2011.


With the completion of the Financing, there are now 21,517,937 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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