AVM.L Regulatory News (AVM)

19 October 2011

AVOCET MINING PLC

PROMISING DRILL RESULTS FROM KODIÉRAN, GUINEA

Avocet Mining PLC ("Avocet" or "the Company") announces promising drill results from initial scout drilling programmes at the Fowaro and Kourounin prospects in the Kodiéran District in north east Guinea. The Kodiéran District is approximately 20 kilometres south of Avocet's1.1 million ounce Koulékoun gold deposit.

The drilling intercepts announced today follow the release of drill results from the Kodiéran prospect on 28 February 2011 and indicate the potential for a significant resource in the Kodiéran District.

Fowaro

Significant intercepts include:

·; 12m @ 6.28 g/t Au from 34m in KDRC0099 (incl. 5m @ 13.9 g/t Au)

·; 20m @ 3.70 g/t Au from 56m in KDRC0082 (incl. 14m @ 4.73 g/t Au)

·; 6m @ 2.69 g/t Au from 59m in KDRC0098 (incl. 3m @ 4.75 g/t Au)

·; 3m @ 4.57 g/t Au from 61m in KDRC0092

The Fowaro prospect (Figure 1 and Table 1) is contiguous with a two kilometre long zone of anomalous gold in termite mounds, situated in the core of a large granitic intrusion. Avocet drilled 54 reverse circulation drill holes (3,602 metres) to a depth of 60 to 100 metres at Fowaro. Drilling was conducted on three fence lines, 180 metres apart, and a fourth fence 320 metres to the north to test the central 700 metre zone of the soil anomaly, leaving a significant strike length still to test.

Drilling has shown that gold mineralisation is contained in weathered and fresh granitic rocks associated with chlorite-epidote pyrite alteration, with 5 to 15 per cent quartz veining.

Kourounin

Significant intercepts include:

·; 25m @ 1.34 g/t Au from 39m in KDRC0025 (incl. 5m @ 2.50 g/t Au)

·; 8m @ 1.79 g/t Au from 1m in KDRC0057

·; 8m @ 1.28 g/t Au from 19m in KDRC0067

The Kourounin Prospect (Figure 1 and Table 2) is associated with a strong gold-in-soil geochemical anomaly and a medium-order conductive geophysical signature defined by the recent airborne geophysical survey. The Company drilled 59 reverse circulation drill holes (6,069 metres) on five 320 metres spaced fence lines to an average depth of 100 metres.

The broad-spaced drill holes have intersected low-grade gold mineralisation in highly weathered sandstone associated with 5-10 per cent quartz veining. Mineralisation was intersected on each drill fence over approximately 1 km strike length suggesting that further infill drilling may prove up a coherent mineralised zone.

Avocet is targeting a maiden resource of 500,000 ounces in the Kodiéran District. Further drilling is planned for the fourth quarter of 2011 to follow up on these promising drill results, with a resource statement expected in early 2012.

Commenting on these drill results, Brett Richards, Chief Executive Officer for Avocet, stated:

"These results demonstrate the prospective nature of the Kodiéran District in Guinea and highlight the exploration potential of the greater Tri-K region. While the development of Koulékoun remains Avocet's primary focus in Guinea, the development of a second significant resource at Kodiéran supports our view that the Tri-K region has substantial gold production potential."

The information in this announcement that relates to Exploration Results is based on information reviewed and audited by Mr Peter Flindell, (MAusIMM), Executive Vice President of Exploration for Avocet. Mr Flindell has the experience relevant to the style of mineralisation and type of deposit under consideration to qualify as a Qualified Person as defined by the Canadian National Instrument 43-101 for the reporting of Exploration Results, Mineral Resources and Mineral Reserves (NI 43-101) and as a Competent Persons as defined by the Australasian JORC Code (2004) for the reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Flindell consents to the inclusion of the technical information in this announcement in the form and context in which it appears.

Notes to Editors

Avocet Mining PLC ("Avocet" or "the Company") is a gold mining and exploration company listed on the AIM market of the London Stock Exchange (Ticker: AVM.L) and the Oslo Børs (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 and 100 per cent owner of 8 exploration licences in the Bélahouro region surrounding Inata) and exploration in Guinea.

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. To date US$197 million of the total consideration has been received.

The substantial completion of this transaction has left Avocet as a West African gold producer and explorer, with a clear strategy for growth in that region.

The Inata deposit presently comprises a Mineral Resource of 3.36 million ounces and a Mineral Reserve of 1.46 million ounces. Inata poured its first gold in December 2009. Other assets in West Africa include exploration permits in Burkina Faso (the most advanced prospect within Bélahouro being the Souma trend, some 20 kilometres from Inata, with a Mineral Resource of 561,100 ounces), Guinea (the most advanced being Koulékoun with a Mineral Resource of 1.1 million ounces) and Mali.

FIGURE1: LOCATION OF SIGNIFICANT INTERCEPTS AT FOWARO AND KOUROUNIN

 http://www.rns-pdf.londonstockexchange.com/rns/4204Q_-2011-10-18.pdf

TABLE 1: SIGNIFICANT INTERCEPTS AT FOWARO

Notes: Individual gold assays have a top cut of 30 g/t Au and a lower cut of 0.5 g/t Au for intercept calculations

Maximum internal waste allowed is 2m and minimum mineralised interval is 1m

All holes are drilled from surface using conventional reverse circulation drilling techniques by West African Drilling Services

All samples have been prepared and analysed by SGS Laboratories in Siguiri, Guinea and SGS Analabs in Morila, Mali

Gold has been analysed by fire assay using a 50 gram charge

All sample batches have passed Avocet's QAQC protocols

TABLE 2: SIGNIFICANT INTERCEPTS AT KOUROUNIN

Notes: Individual gold assays have a top cut of 30 g/t Au and a lower cut of 0.5 g/t Au for intercept calculations

Maximum internal waste allowed is 2m and minimum mineralised interval is 1m

All holes are drilled from surface using conventional reverse circulation drilling techniques by West African Drilling Services

All samples have been prepared and analysed by SGS Laboratories in Siguiri, Guinea and SGS Analabs in Morila, Mali

Gold has been analysed by fire assay using a 50 gram charge

All sample batches have passed Avocet's QAQC protocols