Management Change (6932H)

TIDMAVM

RNS Number : 6932H

Avocet Mining PLC

01 June 2011

AVOCET MINING PLC

MANAGEMENT ANNOUNCEMENT

Avocet Mining PLC ("Avocet or the Company") announces that the Company has received and accepted the resignation of Hans-Arne L'orange, Executive Vice President, Business Development and Investor Relations, with effect from 31 July 2011.

Mr L'orange will continue to work for the Company and advise the Chief Executive Officer in his current capacity in Business Development and Investor Relations, during the two (2) month notice period, and may assist in a consultancy capacity after this period.

The Board of Directors of Avocet would like to thank Hans-Arne for his contribution to the Company during the last two years and in particular the development of the West African assets that he has been associated with since 2007 during Wega Mining's management of the properties.

 
 For further information please contact: 
 Avocet                      Ambrian 
 Mining                       Partners   J.P. Morgan         Arctic 
 PLC          Buchanan        Limited    Cazenove            Securities   SEB Enskilda 
                                                             Financial 
                             NOMAD &                          Adviser 
              Financial PR   Joint                            & Market 
              Consultants    Broker      Lead Broker          Maker       Market Maker 
 Brett 
 Richards,                   Samantha                        Arne         Fredrik 
 CEO Mike     Bobby Morse    Harrison    Michael             Wenger       Cappelen 
 Norris,       Katharine     Jen         Wentworth-Stanley   Petter       Andreas 
 FD            Sutton        Boorer      Neil Passmore       Bakken       Rode 
              +44 20 7466 
 +44 20        5000 +44      +44 20 
  7766         7872           7634                           +47 2101 
  7676         604783         4700       +44 20 7588 2828     3100        +47 21008500 
 www.avoce    www.buchana    www.ambr    www.jpmorgancazen   www.arctic   www.sebenski 
  t.co.uk      n.uk.com       ian.com    ove.com             sec.no       lda.no

Notes to Editors

Avocet Mining PLC ("Avocet" or "the Company") is a gold mining company listed on the AIM market of the London Stock Exchange (Ticker: AVM.L) and the Oslo Bors (Ticker: AVM.OL). The Company's principal activities are gold mining and exploration in Burkina Faso (as 90 per cent owner of the Inata gold mine), Malaysia (as 100 per cent owner of the Penjom gold mine, the country's largest gold producer) and Indonesia (as 80 per cent owner of the North Lanut gold mine and Bakan project in North Sulawesi).

In December 2010 Avocet announced that it had signed a binding agreement for the conditional sale of its South East Asian assets to J&Partners L.P, a private company, for US$200 million. The transaction with J&Partners will leave Avocet as a West African gold producer with a clear strategy for growth in that region. Further details can be found in the press release dated 24 December 2010 and in the Company's preliminary results statement for 2010, dated 22 February 2011.

Background to operations

The Inata deposit presently comprises a Mineral Resource of 2.12 million ounces and a Mineral Reserve of 1.08 million ounces. Inata poured its first gold in December 2009 and has now reached an average production rate in excess of 13,500 ounces per month. Other assets in West Africa include exploration permits in Burkina Faso (the most advanced being the Souma trend at Belahouro, some 20 kilometres from Inata, with a Mineral Resource of 561,100 ounces), Guinea and Mali (the most advanced being the Tri-K gold exploration project in Guinea with a Mineral Resource of 1,095,600 ounces).

Penjom is Malaysia's largest gold mine and was developed by Avocet in an area of historic alluvial mining. The mine is located in Pahang State, approximately 120 km north of the country's capital, Kuala Lumpur.

North Lanut in North Sulawesi, Indonesia, was developed by Avocet from the exploration stage. The mine is located within a Contract of Work, which includes exploration and mining rights over approximately 50,000 hectares in an area highly prospective for gold. Avocet holds an 80 per cent interest and an Indonesian company, PT Lebong Tandai, owns the remaining 20 per cent.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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