Canadian Warrants

Common share symbol: AVK
Common share Cusip No.: G0683R 10 7
Warrant symbol: AVK.WT
Warrant Cusip No.: G0683R 12 3
Designated market-maker: TD Securities Inc.
Other markets: None
Listing statement No. 5608 is being prepared and the following constitutes
information appearing in the statement.
Fiscal year-end: Dec. 31
Nature of business: The company holds an indirect 80-per-cent interest in the
Kalana gold mine located in southwest Mali. Through its subsidiary companies, the
company holds a permit to operate the mine and carry on exploration activities in the
surrounding area.
Transfer offering and registrar: Computershare Investor Services Inc. for the
common shares and Computershare Trust Company of Canada for the warrants at
their principal offices in Toronto
Share capital

Authorized: Unlimited common shares and 11 million warrants
Issued: 47,475,658 common shares
Reserved common shares: 6,381,764 common shares issuable on exercise of the
warrants underlying the units and the agents' warrants;
431,806 common shares issuable pursuant to the agents' warrants exercisable into
units for a period 24 months from the date closing of the offering;
1,485,400 common shares issuable on exercise of the minority shareholder
warrants;
14,172,269 common shares issuable on conversion of convertible loan notes;
2.5 million common shares issuable pursuant to chief executive officer
compensation option; and
4,747,565 common shares issuable pursuant to the company's stock option plan.
To date, no options have been granted.
Warrants: 6,381,764 warrants underlying the units and issuable upon exercise of
the agents' warrants
Dividends: The company has not paid any dividends since incorporation and
dividends will not be paid in the foreseeable future.
Public offering: Pursuant to a prospectus dated May 27, 2005, as amended by
amendment No. 1 dated June 22, 2005, Credifinance Securities Ltd. and Dominick
& Dominick Securities Inc., as agents, are offering to the public up to 20 million units
at a price of 76 cents per unit, each unit consisting of one common share and
one-half of one warrant. The company intends to the use the net proceeds of the
offering as follows: (i) $4,215,000 mine development at Kalana gold mine; (ii) up to
2,505,000 for exploration projects; (iii) up 2.45 million for repayment of bridge
financing loan; and (iv) up to 1.87 million for working capital and expenses of the
offering.

Warrants: Each whole warrant entitles the holder to purchase one common share
at a price of $1.06 at any time prior to 5 p.m. (Toronto time) on June 30, 2010. The
warrants will be governed by the terms of a warrant indenture between the company
and Computershare Trust Company of Canada, as warrant agent. The warrant
indenture provides for appropriate adjustments to the warrants in the event of stock
dividends, subdivisions, consolidations and other terms of the capital reorganization.