LONDON, UK, Sept. 17 /CNW Telbec/ - Avnel Gold Mining Limited (TSX: AVK)
("Avnel") announced today that it is engaged in a process to consider a range
of strategic alternatives to further enhance shareholder value. These
alternatives may include, but are not limited to, increasing the value from
the Kalana Gold Mine and the greater pursuit of Avnel's exploration strategy
together with other possible diverse strategic opportunities. In undertaking
this process, Avnel wishes to note that there is no assurance that the
examination of strategic alternatives will result in any options that are
superior to the execution of its current business plan.
Avnel has retained Standard Bank plc of London as its exclusive financial
advisor to assist it in these efforts.
Avnel's principal asset is an 80% interest in Société d'Exploitation des
Mines d'Or de Kalana (SOMIKA). SOMIKA is the holder of a 30 year exploitation
permit encompassing 387.4 square kilometres around the operating Kalana gold
mine in southern Mali. Avnel also holds the Fougadian Exploration Permit
covering an area of 150 square kilometres which lies to the south of the
30 year exploitation permit.
Avnel is a gold mining producing company operating the Kalana mine owned
by SOMIKA and is engaged in the exploration of the Kalana Permit and the
ON BEHALF OF
AVNEL GOLD MINING LTD.
Chief Executive Officer
For further information:
For further information: Roy Meade, Chief Executive Officer, Avnel Gold
Mining Ltd., UK Representative Office, +44 207 589 9082, FAX: +44 207 589
8507, www.avnelgold.com, email@example.com; Renmark Financial
Communications Inc.: Barry Mire, firstname.lastname@example.org; Maurice Dagenais,
email@example.com, (514) 939-3989, Fax: (514) 939-3717,