Mr. Howard Miller reports
AVNEL AND IAMGOLD AGREE EXPLORATION EXTENSION
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.
We seek Safe Harbor.
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