MONTREAL, Dec. 20, 2010 (GLOBE NEWSWIRE) -- American Video Teleconferencing Corp. (Pink Sheets:AVOT), "the company", is pleased to announce that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada. The property has been dormant since the 1960's when Hupon Mining and Exploration carried out surface work, stripping, trenching and a minor drill program of 445 feet contained in 11 drill holes. Some of the sample results from the trenching in 1962 showed 0.94% to 25% molybdenum averaging 5-10%. These values were obtained from assessment files in the Department of Mines in Quebec City.
This property is only one of several advanced stage properties the company has under consideration in the province of Quebec.
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On behalf of the board
SCOTT VAN BOEYEN
Scott Van Boeyen
CONTACT: American Video Teleconferencing Corp. Scott Van Boeyen, President 438-838-7056