AVM.L Regulatory News (AVM)

AVOCET MINING PLC ('Avocet' or the 'Company')

Issue of Equity and Total Voting Rights

Avocet Mining PLC announces that on 30 November 2010 the Company issued and allotted 1,055,108 ordinary shares of 5 pence each ('Shares') following the exercise of 913,415 share options at a price of 82 pence per Share, 950,000 share options at a grant price of 103.25 pence per Share, and 50,000 shares options at a grant price of 135.50 pence per Share. A number of these options have been exercised net in accordance with the Avocet Share Options Scheme Rules, in order to reduce the number of new shares issued and to reduce the cash payable by the option holder at the time of exercise.

Application has been made for the admission of the Shares to trading on the AIM market of the London Stock Exchange with admission expected to occur on or around 6 December 2010.

The Company also announces that, pursuant to the requirements of the Disclosure and Transparency Rules, the total number of voting rights in respect of each class of share in issue and admitted to trading on AIM at the date of this announcement is as follows:

Number of shares Number of voting

in issue rights

Ordinary shares of 5p each 196,491,602 196,491,602

Following the allotment and admission of the shares in respect of the above option exercise, the issued share capital of the Company and total voting rights of shares admitted to AIM will increase to 197,546,710.

Contacts:

Jim Wynn, Company Secretary, Avocet Mining PLC, 020 7766 7676

Richard Brown, Ambrian Partners Limited, 020 7634 4700