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Avalon Rare Metals to list on NYSE Amex Exchange

Last updated: 19:47 02 Dec 2010 AEDT, First published: 20:47 02 Dec 2010 AEDT

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Avalon Rare Metals  (TSX:AVL, OTCQX:AVARF) said it has applied to list on the New York Amex Exchange - a move designed to increase the company's liquidity.

The company said that there are a number of conditions it must satisfy before listing, and that it expects the process to take approximately four to six weeks.

"Listing of the company's shares in the United States will better accommodate the growing interest amongst American investors in Avalon's rare metals business. A full US Stock Exchange listing will facilitate greater participation by US investors and will likely result in increased liquidity for shareholders generally," said president Don Bubar.

Separately, the company today said it filed its audited annual financial statements for the year ending August 31, 2010, and the statements can now be viewed on www.sedar.com.

Avalon's flagship project is the 100%-owned Nechalacho Deposit in Thor Lake, NWT. the property's is enriched with more 'heavy' rare earth elements, which are key to allowing advances in green energy technology and other growing high-tech applications.

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