Alliance formed.

• Position: Placer Dome and Avalon Ventures - Brief Article

Avalon Ventures Ltd. had entered into a three-year agreement with Placer Dome Ltd. to form a strategic alliance for the discovery and development of precious and rare metal deposits in Canada.

Under the terms of the proposed business agreement, Placer Dome will invest a minimum of $980,000 in Avalon by way of a private placement, to fund a minimum $250,000-program budget for a new project development with the balance being allocated to working capital for general corporate purposes. Placer Dome has also agreed to provide project management, engineering services and assistance in obtaining project financing for Avalon's advanced projects. The strategic alliance agreement...