Future Avenir Corp. - Formal agreement signed on the Jaruana Gold Property.

TORONTO, Ontario--(BUSINESS WIRE)--Nov. 3, 1995--FUTURE AVENIR CORP. (THE CANADIAN DEALING NETWORK: FAVC.A, FAVC.B ) Further to the news release dated July 13, 1995, Future Avenir Corp. is pleased to announce that its joint venture partner Madison do Brasil SA has completed the formal agreement for the acquisition of the Jaruana Property, the largest historical alluvial gold producer in the Alta Floresta District of the State of Mato Grosso, Brazil.

Total cost of the acquisition to Madison will amount ot US$2.5 million, of which US$500,000 has already been paid; U.S.$1.5 million in staged payments is due over the next two years; and US$500,000 is payable six months after the completion of a feasibility study leading to a production decision. The acquisition is subject to a 2 percent royalty on open pit production and a 0.7 percent royalty on underground production. The royalty can be bought out within 5 years for US$2.5 million payable in four installments.

Future Avenir can earn a 25 percent interest in the Jaruana Property by expending US$1.5 million in acquisition, exploration and development costs in the first year and can increase this interest to 75 percent by expenditure of a further US$3 million in the course of the following three years. At that time, should Madison so elect, Future Avenir interest will increase to 80 percent by funding the project through to production. In this event cash flow from production will then be split 90-10 in favour of Future Avenir until all expenditure over US$4.5 million by Future Avenir has been recouped. The Company anticipates that necessary funding will be acquired through additional equity issues during the currency of the agreement.

Future Avenir had previously entered into a joint venture option with Consolidated Madison on the highly prospective Matadouro Property adjacent to the Jaruana Property. A further feature of the joint venture on these properties is that Future Avenir can earn its full 75 percent interest in both properties by spending the full aggregate total of US$6.9 million on either of the properties alone.

The Jaruana Property is located in the heart of the renowned Juruena area, where the discovery of gold in the late 1960's culminated in a large gold rush in the 1980's. An estimated 500,000 ounces of gold was produced in the area by garimpeiros (informal miners). Half of this production came from the Jaruana Property. Other than some primitive open pit and underground operations, the primary ore resources contained in stockworks and granite remain intact.

Consolidated Madison will be the initial operator of the project. Exploration has already begun, which in its first phase, consists of backhoe trenching, auger drilling, and sampling of open pits and underground workings in order to locate the diamond drill targets.

CONTACT: Mr. Costas Takkas

President

809/949-8228

809/949-8513 (Fax) REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-236-4266 or

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