Avalon on the hunt in Ecuador

Metals explorer Avalon Minerals has signed a letter of agreement with TSX-V-listed Cornerstone Capital Resources over the Bramaderos project, in Ecuador. Avalon will earn an initial 51% interest in the mineral rights at the Bramaderos concession by paying $50 000 to Cornerstone subsidiary La Plata Minerales (Plamin) on the execution of a binding agreement, and by spending $1.5-million on exploration within the first year of the agreement, or $1.9-million before the third year of the agreement.