This deal values each share of Aurvista at $1 and from this deal, VIOR owns 21.3 million shares. Addiing in the $3 million+ that Aurvista gave VIOR for the first 50% of ownership of Douay, and that gives VIOR an enterprise value of at least $24.3 million. This should represent a floor price for VIO stock of 25 cents per share. This doesn't give any value to the rest of the properties VIOR owns either.

More importantly, this doesn't factor in the possibility for Douay project (ie Aurvista) to be worth more than what the IPO price implied. In fact, with the price of gold is 40% above the economic assessment best-case scenario price of $1,250. The probability of it being double or triple this amount is quite high (IMHO).

Chi

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Aurvista Gold Corporation Closes $4,100,600 Initial Public Offering

MONTREAL, QUEBEC--(Marketwire - Aug. 9, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Aurvista Gold Corporation (the "Corporation" or "Aurvista") (TSX VENTURE:AVA) is pleased to announce that it has completed the acquisition of a 100% interest in the Douay Property and its initial public offering (the "Offering"). Pursuant to the Offering, the Corporation issued an aggregate of 1,973,100 units at a price of $1.00 per unit, each unit being comprised of one common share and one-half of one common share purchase warrant, and 2,127,500 common shares that qualify as "flow-through shares" as defined in subsection 66(15) of the Income Tax Act (Canada) at a price of $1.00 per flow-through common share (collectively, the "Securities"), for total gross proceeds of $4,100,600. The Securities were qualified for distribution pursuant to the final prospectus of the Corporation dated July 29, 2011 (the "Prospectus"), filed in each of the provinces of Canada, excluding Prince Edward Island and Newfoundland and Labrador. The Offering was completed through a syndicate of agents led by NCP Northland Capital Partners Inc. and including National Bank Financial Inc. and Portfolio Strategies Securities Inc. (collectively, the "Agents").

In connection with the Offering, the Corporation paid the Agents a $176,036 cash commission along with 176,036 common share purchase warrants, each such compensation warrant entitling the holder thereof to acquire one common share of the Corporation at a price of $1.00 until February 9, 2013. The Corporation also granted the Agents an over-allotment option (the "Over-Allotment Option") entitling the Agents to acquire up to an additional 300,000 common shares at an exercise price of $0.955 per common share and/or up to an additional 150,000 warrants at a price of $0.09 per whole warrant. The Over-Allotment Option may be exercised by the Agents on or prior to September 9, 2011.

The net proceeds from the Offering will be used to fund the Corporation's exploration program, operating expenses and unallocated working capital, which may be used for the acquisition of additional mineral properties.

The Corporation is pleased to announce that the common shares of the Corporation commenced trading today on the TSX Venture Exchange under the symbol "AVA".

Furthermore, concurrently with the closing of the Offering, the Corporation acquired the remaining 50% interest (the "Mineral Claims") in respect of blocks of claims located on the area of land referred to as the Douay Property and located 50 km southwest of Matagami and 120 km north of Amos, in Abitibi, in the Douay township of Quebec consisting of 216 contiguous online staked claims and two physically-staked claims totalling approximately 11,440 hectares (other than a 10% undivided interest in two claims located on the Douay West Zone, as further described in the Prospectus - the "Excluded Interest") previously held by Societe d'Exploration Miniere Vior inc. ("Vior"), through the issue to Vior of 21,250,000 common shares of the Corporation, which results in the Corporation now owning a 100% interest in the Mineral Claims (other than the Excluded Interest).

Guy Brunet, President and Chief Executive Officer of Aurvista, commented: "The Corporation is happy with the completed financing. We thank our investors for their trust and confidence in the Aurvista team, as reflected in the positive response to the Offering. These funds will allow the Corporation to move forward and it is now in a solid position to carry on its exploration program."