Avion's Hounde Project in Burkina Faso Returns High Grades from Bouere Zone-18.26 g/t Au Over 24.9 Metres and 5.75 g/t Au Over 11.0 Metres

Avion Gold Corporation (TSX:AVR)(OTCQX:AVGCF) ("Avion" or "The Company") is pleased to present results from 19 drill holes totaling 4,484 metres carried out over the Bouere and Kari Pomp areas of Avion's Hounde Property, Burkina Faso (see Figure 1).

Avion's recent drill holes at Bouere, which returned 18.26 g/t Au over 24.9 metres and 5.75 g/t Au over 11.0 metres, were drilled immediately below Avion's 2010 drill holes that returned 3.84 g/t Au over 47.5 metres and 6.24 g/t Au over 10.5 metres, respectively (see Figure 2).

The Bouere area is an active artisanal mining site with pitting and shaft emplacement over a strike length of 1,600 metres. In 2011 Avion completed four core holes totaling 709 meters at Bouere along 350 metres of the interpreted zone. Two of the 2011 holes tested approximately 50 metres below two holes that were drilled in 2010. These two sets of holes are approximately 150 metres apart. Step-outs 100 meters to the east and west of these high grade intercepts returned modest grades with a best value of 1.46 g/t Au over 2.0 metres.

At the Kari Pomp area, drilling tested a more than 2 kilometre long IP chargeability anomaly corridor that correlates very well with historic drill intercepts of up to 38.41 g/t Au over 4.6 metres (see Figure 3). Avion's recent drilling at the Kari Pompe area has returned the following highlights:

-- 1.00 g/t Au over 74.5 metres -- 4.10 g/t over 7.0 metres -- 0.70 g/t over 19.5 metres -- 3.5 g/t over 5.4 metres

Avion's drill holes in the Kari Pomp area intersected a strongly oxidized, shallow-west-dipping sequence of sheared and altered mafic volcanics, sediments and gabbroic intrusions. Holes H-11-18 and H-11-20 appear to have intersected the same north-trending zone and correlate well with historic drill holes (see Figure 3). Additional drilling will be required to test both the continuity and the down-dip extension of this oxide zone and to follow-up on historic and 2011 drill intercepts.

Don Dudek, Avion's Senior Vice President Exploration stated: "We believe Avion's holes in the Bouere and Kari Pomp areas demonstrate again the prospectivity of the Hounde property and strengthen management expectations that Avion will be able to define mineral resources in these areas."

Throughout the remainder of October and during November, Avion will carry out a detailed sampling program over the Bouere area, which has laterite cover and consequently poor Au-in-soil results. This program will test for extensions to the Bouere zone and help prioritize other geophysical anomalies in the immediate area.

Don Dudek, P.Geo., the Senior Vice President, Exploration of the Company, and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

Mining in Burkina Faso

The mining industry in Burkina Faso is growing at a rapid rate due to a combination of a stable elected democratic government, excellent geology and a competitive fiscal regime. Currently six gold mines are in production or development in Burkina Faso (Essakane - IAMGOLD Corporation, Mana - SEMAFO, Inata - Avocet Mining PLC, Youga - Etruscan Resources Inc., Taparko - High River Gold Mines Ltd., Kalsaka - Cluff Gold PLC). In 2011, it is expected that Burkina Faso will become the fourth largest gold producing country in Africa. The country has legislated low taxes with a corporate tax rate of 20% for mining companies. The government is entitled to a 10% free carried interest and a competitive 3-5% sliding Royalty on gold production. Political and economic protests that occurred back in the spring of 2011 did not materially affect Avion's exploration program at the time and no new issues of concern have since arisen.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/Figure1AVR.pdf

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/Figure2AVR.pdf

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/Figure3AVR.pdf

About Avion Gold Corporation

Avion's 2011 minimum 75,000 metre drill focused, US$ 16 million exploration program is well underway with 405 core and reverse circulation ('RC') holes totaling approximately 64,000 metres of drilling completed. Drilling completed to date consists of approximately 34,500 metres on Avion's Mali projects (Tabakoto and Kofi) and 28,400 metres on Avion's Burkina Faso property (Hounde) with a core drill rig active on the Kofi property and two core rigs active on the Hounde property. Two additional core drill rigs and an RC rig are now active at the Tabakoto property. The core rigs will focus on upgrading Inferred mineral resources to Measured & Indicated mineral resources and the testing of new targets east and west of the Segala Main deposit and north of the Tabakoto deposit. The RC rig will focus on the conversion of open pit Inferred mineral resources to open pit Measured & Indicated mineral resources at Avion's Djambaye II zone, which will be subject to open pit mine development later in 2011.

Cautionary Notes

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of the drilling results on the Company; statements with respect to the development potential and timetable of the Hounde project; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

For additional information, please visit our website at www.aviongoldcorp.com. Follow us on Facebook and Twitter: @AvionGoldAVR.

Summary of New Significant Drill Holes Results



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Hole #    From (m)  To (m) length   True (i) Au g/t  Au g/t (ii)        Area
                              (m)  Width (m)              capped
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H-11-17      15.90   23.10    7.2        5.3   0.81         0.81   Kari Pomp
H-11-17      95.50   97.00    1.5        1.1   1.00         1.00   Kari Pomp
H-11-17     107.50  110.50    3.0        2.2   4.30         4.30   Kari Pomp
H-11-17     129.00  133.26    4.3        3.2   1.48         1.48   Kari Pomp
H-11-17     179.30  206.00   26.7       20.0   0.50         0.50   Kari Pomp
H-11-18      15.00   89.50   74.5       65.5   1.00         1.00   Kari Pomp
H-11-18     145.60  146.80    1.2        1.0  38.60        30.00   Kari Pomp
H-11-18     179.30  184.70    5.4        4.4   1.12         1.12   Kari Pomp
H-11-18     225.68  230.17    4.5        3.7   2.24         2.24   Kari Pomp
H-11-19      38.00   40.00    2.0        1.5   1.40         1.40   Kari Pomp
H-11-20      20.50   46.00   25.5       18.6   0.85         0.85   Kari Pomp
H-11-20     270.09  271.17    1.1        0.8   1.40         1.40   Kari Pomp
H-11-20     276.77  277.43    0.7        0.5   1.43         1.43   Kari Pomp
H-11-20     294.13  294.61    0.5        0.3   1.80         1.80   Kari Pomp
H-11-20     309.00  311.00    2.0        1.4   3.92         3.92   Kari Pomp
H-11-20     318.50  318.70    0.2        0.1   1.08         1.08   Kari Pomp
H-11-20     365.26  366.40    1.1        0.8   5.51         5.51   Kari Pomp
H-11-21     422.00  424.00    2.0        1.4   1.96         1.96   Kari Pomp
H-11-22      76.00   83.00    7.0        4.8   4.05         4.05   Kari Pomp
H-11-23     213.58  219.00    5.4        3.8   3.50         3.50   Kari Pomp
H-11-23     228.00  232.25    4.3        3.0   1.09         1.09   Kari Pomp
H-11-23     235.70  237.15    1.5        1.0   4.57         4.57   Kari Pomp
H-11-23     266.55  267.90    1.3        1.0   6.01         6.01   Kari Pomp
H-11-24     171.70  172.16    0.5        0.3   2.75         2.75   Kari Pomp
H-11-25                                         NSR                Kari Pomp
H-11-26                                         NSR                Kari Pomp
H-11-27      99.50   96.40    1.5        1.0   1.90         1.90   Kari Pomp
H-11-28      47.50   67.00   19.5       14.4   0.70         0.70   Kari Pomp
H-11-29     254.66  255.05    0.4        0.3   2.91         2.91   Kari Pomp
H-11-29     351.54  352.53    1.0        0.7   1.91         1.91   Kari Pomp
H-11-30     165.05  169.00    4.0        2.7   1.30         1.30   Kari Pomp
H-11-30     178.00  188.00   10.0        6.8   0.60         0.60   Kari Pomp
H-11-31     106.00  108.45    1.2        0.8   1.09         1.09      Bouere
H-11-31     144.00  168.89   24.9       17.0  18.26        15.30      Bouere
H-11-32      74.20   76.18    2.0        1.4   1.27         1.27      Bouere
H-11-32     102.00  104.00    2.0        1.4   1.46         1.46      Bouere
H-11-33      81.50   84.00    2.5        1.8   2.08         2.08      Bouere
H-11-33     113.00  124.00   11.0        7.6   5.75         5.45      Bouere
H-11-33     137.47  141.00    3.5        2.4   1.66         1.66      Bouere
H-11-33     148.55  149.18    0.6        0.4   1.98         1.98      Bouere
H-11-34     110.90  112.00    1.1        0.7   3.18         3.18      Bouere
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(i) true widths are estimated
(ii) assays are capped at 30 g/t Au
NSR - no significant results

SOURCE: Avion Gold Corporation

Avion Gold Corporation Michael McAllister Manager, Investor Relations (416) 309-2134 This email address is being protected from spambots. You need JavaScript enabled to view it.