AVM.L Regulatory News (AVM)

27 Jun 2007 12:12

Avocet Mining PLC27 June 2007 Avocet Mining PLC 7th Floor 9 Berkeley Street London W1J 8DW Tel +44 (0) 20 7907 9000 Fax +44 (0) 20 7907 9019 E-mail www.avocet.co.uk News Release Date: 27 June 2007 Recent press comment The Company notes the recent press comment stating that Avocet's wholly ownedsubsidiary, Commonwealth & British Minerals (UK) Limited ("CBML"), which in turnowns a 75% shareholding in the Tajik company JV Zeravshan LLC ("ZGC"), has beenacquired by Xin Jiang Zijin Mining Company Ltd. ("Xin Jiang Zijin"), a whollyowned subsidiary of Zijin Mining, a Hong Kong listed company and one of thelargest gold producers in China for consideration of $170 million. The Company can confirm that it is in final stages of discussions with ZijinMining but no binding agreements for the sale of CBML have been signed.Negotiations on price have been significantly below that stated in the recentpress comment. ________________________________________________________________________________ For further information please contact: Avocet Mining PLC Buchanan Communications Grant Thornton Corporate FinanceJonathan Henry, Bobby Morse, Director Fiona KindnessChief Executive Ben Willey, 020 7466 5000Officer Associate Director www.grant-thornton.co.uk020 7907 9000 020 7728 3414 www.avocet.co.uk www.buchanan.uk.com This information is provided by RNS The company news service from the London Stock Exchange