Avoca Resources to acquire shares of Dioro Exploration

    PERTH, Australia, April 13 /CNW/ - Avoca Resources Limited ABN 30 097 083
282 (ASX:AVO) ("Avoca") announces that it has entered into unconditional
agreements to acquire ownership of 13,689,899 outstanding ordinary shares (the
"Purchased Shares") of Dioro Exploration NL ABN 31 009 271 532 (ASX/TSX:DIO)
from two shareholders. The transaction is expected to be completed on or
before 17 April 2009. The Purchased Shares are to be acquired in consideration
of Avoca issuing one (1) Avoca ordinary share to the vendors for each three
(3) ordinary shares of Dioro sold. Using the closing price of Avoca shares on
the Australian Securities Exchange ("ASX") on 9 April 2009 of A$1.495, and
adjusting for the exchange ratio and the Cdn$/A$ noon rate of exchange posted
by the Bank of Canada on 9 April 2009, the value of the consideration offered
to the two shareholders is approximately Cdn$6.02 million or Cdn$0.44 per
Purchased Share to be acquired. The Purchased Shares represent 14.95% of the
outstanding Dioro ordinary shares. As a result of the transaction, Avoca will
have ownership of 13,689,899 ordinary shares only, representing 14.95% of the
outstanding Dioro ordinary shares. Avoca has acquired the ordinary shares for
investment purposes and has announced its intention through the ASX to make an
offer to acquire 100% of the class of ordinary shares of Dioro. No joint
actors are participating with Avoca.

For further information:

For further information: Avoca Resources: Rohan Williams, + 61 08 9226

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