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Avnel Gold Mining Ltd
Symbol C : AVK
Shares Issued 191,743,724
Close 2013-01-30 C$ 0.36
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Avnel Gold, Iamgold extend Kalana option another month

2013-01-31 08:14 ET - News Release

Mr. Howard Miller reports


Avnel Gold Mining Ltd. and Iamgold Corp. have agreed to extend the exploration phase under the option agreement between Avnel and Iamgold to enter into joint-venture arrangements. Under the original Kalana option agreement, Iamgold was scheduled to deliver a resource study during the third quarter of 2012 (subject to Iamgold's rights to extend the exploration phase for a maximum period of 12 months in specified circumstances). On May 15, 2012, Avnel announced its agreement with Iamgold to extend the exploration phase to Dec. 31, 2012, which the parties subsequently agreed to extend to Jan. 31, 2013. Avnel and Iamgold have now agreed to a further extension of the exploration phase to Feb. 28, 2013.

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