Avnel announces election of directors

ST. PETER PORT, GUERNSEY, May 23, 2013 /CNW/ - Avnel Gold Mining Limited (TSX: AVK) announced that, at the annual general meeting of shareholders held earlier today, all seven nominees listed in Avnel's management information circular dated April 18, 2013 were elected as directors of Avnel.  The detailed results of the vote are set out below.

* As a ballot was not required, the number of votes disclosed reflects only the proxies received by management of Avnel in advance of the meeting.

ABOUT THE COMPANY

Avnel is a producing gold mining company operating the Kalana Mine in south-west Mali and is engaged in the exploration of the 30-year Kalana Exploitation Permit encompassing 387.4 sq km around and to the south of the Kalana Mine as well as on Avnel's abutting Fougadian Exploration Permit.

Avnel's principal asset is an 80% interest in Société d'Exploitation des Mines d'Or de Kalana ("SOMIKA") which is the holder of the Kalana Exploitation Permit. The Kalana Project is situate in south-west Mali. The 387.4 sq km exploitation permit has a NI 43-101 compliant resource of 1,020,000 oz (at an average grade of 10.4 g/t) in the measured and indicated category, and 249,000 oz (at an average grade of 3.4 g/t) in the inferred category.

Avnel also holds the Fougadian Exploration Permit covering an area of 75 sq. km. to the south of the main Kalana Exploitation Permit area and abutting it. Avnel and IAMGOLD have entered into a joint venture arrangement agreement whereby IAMGOLD has the option to acquire up to an initial 51% in Avnel's interest in the Fougadian Exploration Permit and in an additional 75 sq. kms to the south of Avnel's Fougadian Exploration Permit area for which IAMGOLD has an exploration permit which is subject to that joint venture arrangement.

SOURCE AVNEL GOLD MINING LTD.