8 September 2009

DIORO APPOINTS THREE AVOCA NOMINEES TO BOARD

Kalgoorlie-district gold producers Avoca Resources Limited (Avoca) (ASX:AVO) and Dioro Exploration NL (Dioro) (ASX/TSX:DIO) are pleased to announce that Avoca directors Messrs Robert Reynolds, Rohan Williams, and Jan Castro have today been appointed as non-executive directors of Dioro.

Messrs Reynolds, Williams, and Castro respectively hold the positions of non-executive Chairman, Managing Director and non-executive director of Avoca.  Mr Castro is also Managing Director of Avoca?s major shareholder, Pala Investments AG.

Avoca acquired a 44.85% interest in Dioro at the close of its recent takeover offer for Dioro and stated in its bidder?s statements and previous announcements that it intended (as Dioro?s largest shareholder) to take an active interest in the development of Dioro and its assets.  This included seeking representation on the Dioro board.

Today?s appointments bring the total number of Dioro directors to seven, three of whom have been nominated by Avoca inline with their major shareholding.

Avoca Chairman, Mr Robert Reynolds said that Avoca is pleased with the new appointments, which reflect Avoca?s 45% shareholding in Dioro.

?We would like to thank the incumbent Dioro board for acknowledging Avoca?s major shareholding by making these board appointments,? Mr Reynolds said.

?We look forward to building a closer strategic relationship with Dioro to maximise value for shareholders.?

Brief profiles of Messrs Reynolds, Williams, and Castro are set out below.

For further enquiries, please contact:

Rohan Williams (Managing Director) +61 8 9226 0625 or Warrick Hazeldine (Purple Communications) +61 8 6314 6300 / 0417 944 616

New Director Profiles

Robert G Reynolds - CA, MAICD, MAIMM

Mr Reynolds is a Chartered Accountant with over 35 years experience in commerce and practice. He joined Delta Gold Limited as its accountant and company secretary and became an executive director in 1988.  He became a non-executive director in 1996 and remained as such until the merger with Goldfields Limited in late 2001.  Mr Reynolds jointly oversaw the growth of Delta Gold Limited from a junior explorer to a medium size gold mining company. His role was corporate planning, overseeing corporate governance and supervision of administration and financial management.

Rohan I Williams - B.Sc (Hons), MAIMM

Mr Williams joined Avoca as its founding Managing Director and CEO in October 2001, prior to its IPO in April 2002.  Before joining Avoca he worked with WMC Resources Limited where he held Chief Geologist positions at St Ives Gold Mines and the Central Norseman Gold Operation.  He has had over 20 years of mining, development and exploration experience including over 15 years in the world-class St Ives / Kambalda - Higginsville ? Norseman mining regions.    

Mr Jan A Castro - JD, BA

Mr Castro is the Managing Director of Pala Investments AG, the major shareholder of Avoca and the exclusive investment advisor to Pala Investments Holdings Ltd., a US$ 1.0 billion investment company focused on the mining sector.  As a long-term partner, Pala leverages its extensive mining and natural resources sector experience to provide strategic advice and innovative financing solutions.  Prior to founding Pala in July 2006, Mr Castro was Senior Vice President of Investments and Corporate Affairs for Mechel OAO, a major Russian mining and metals company listed on the New York Stock Exchange. 

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