Avala Resources Ltd. (TSX VENTURE:AVZ) (the "Company" or "Avala") announces its
decision to accelerate the expiry date of the share purchase warrants issued on
July 30, 2010 (the "Warrants") upon the closing of the business combination
transaction involving the Company. Each Warrant entitles the holder to purchase
one common share of Avala at a price of C$0.50 per common share. The Warrants
were originally set to expire on July 30, 2013 and will now expire on January
14, 2011. 


Pursuant to the certificates and indenture governing the Warrants, the Company
has the right to accelerate the expiry date of the Warrants any time after
October 25, 2010 if the closing price of the Company's common shares is above
$1.00 for 20 consecutive trading days. The closing price of the Company's common
shares on the TSX Venture Exchange was above $1.00 on November 12, 2010 and
remained above $1.00 for the following 20 trading days.


There are currently 32,648,250 Warrants outstanding. If all of the Warrants are
exercised, the Company would receive gross proceeds of approximately
$16,324,125. The proceeds of the Warrant exercises will be used to fund the
Company's exploration and development activities in Serbia and for working
capital purposes.


To exercise their Warrants, Warrantholders must submit the Subscription Form
(Form 1 attached to the Warrant Certificate) along with payment of the exercise
price (Cdn. $0.50 per warrant exercised) no later than 5:00 pm (Toronto time) on
January 14, 2011 to OLYMPIA TRANSFER SERVICES INC., Suite 920, 120 Adelaide
Street West, Toronto, Ontario M5H 1T1. 


Warrants that have not been exercised by January 14, 2011 will expire.

About Avala Resources Ltd.: Avala is a recently-formed company focused on the
exploration and development of the Potoj Cuka sediment hosted gold project and
the Timok gold-copper project in Serbia. The common shares of Avala trade on the
TSX Venture Exchange under the symbol AVZ.


This press release contains forward-looking information. Although the Company
believes in light of the experience of its officers and directors, current
conditions and expected future developments and other factors that have been
considered appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on them because
the Company can give no assurance that they will prove to be correct. Forward
looking information in this news release includes statements regarding the
exercise of the Warrants and the Company's plans for the use of its funds.
Forward-looking information involves known and unknown risks, uncertainties,
assumptions and other factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking information. The
forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligations to update publicly or
revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.