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ABV Gold, Inc. Subsidiary in Advanced Discussions to Purchase a 2 Million Ounce Gold Deposit
Aug 13, 2007 9:30:00 AM
MONTREAL -- (MARKET WIRE) -- 08/13/07 -- ABV Gold, Inc. (PINKSHEETS: ABVG) (FRANKFURT: AB8) is pleased to announce that it is in advanced discussions to purchase a 2,000,000 ounce gold deposit in New Mexico.

"ABV Gold Inc. is pleased to announce that it is in advanced discussions to purchase a 2,000,000 ounce gold deposit in New Mexico," reported Daniel Ryan, President of ABV Gold Inc. "This purchase is going to be done through a 100% wholly owned subsidiary. The subsidiary is completing the purchase in order to maximize the upside for our current shareholders. It is our intention to take this subsidiary public through the CPC (Capital Pool Company) program on the TSX Venture Exchange (www.tsx.com) in Canada. We have secured commitments for initial funding of $2.3 million CDN in three separate rounds in order to complete the transaction. Information on the CPC program can be found at the following URL: http://www.tsx.com/en/listings/listing_with_us/ways/capital_company.html.



"This purchase is a significant milestone for ABV Gold Inc.," continued Mr. Ryan. "This milestone will have a significant impact on the net asset value of the shares of ABV Gold, Inc. Our cash cost on this new project is $385 per ounce. We have completed thorough research and we can conclude from comparables on the TSXv that the market should give our new pubco a market valuation in excess of $80 million CDN. Post financing ABV Gold will retain 65% of the equity giving our company a very valuable holding."

Furthermore, Mr. Ryan commented, "We will be working with an investment advisor at Canaccord Adams Inc. to complete the CPC transaction. Our schedule calls for a 90-day closing window. I have been involved in two similar transactions during the past year and have found them to be a great vehicle for raising capital and they tend to be very well received by the market. The subsidiary will be announcing a separate management team including directors with Canadian public company experience. Once we complete this transaction we will entertain subsequent CPC RTOs on an as needed basis. Our team at ABV Gold is seeing high quality deal flow and we can envision an important number of of transactions being completed at the ABV and subsidiary level."