Avalon Minerals Ltd. announced that on 12 October 2013 the Board of Directors of Avalon resolved to terminate the employment contract of Mr. Jeremy Read as Managing Director. By way of clarification, pursuant to the said employment contract, termination occurs upon the delivery of a termination notice to Mr. Read. The said notice terminated Mr. Read's position as Managing Director, but not as non-executive director.

Avalon has asked Mr. Read to resign as a director failing which it will convene a shareholders' meeting to determine Mr. Read's position as director.