Avocet Mining PLC Prospectus December 2011

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Avocet Mining PLC West African Projects 5.11 Mineral Resource Estimate Avocet Mining announced the maiden Mineral Resource estimate for Souma in November 2010. The Mineral Resource was estimated by Mr John Milovanovic (Avocet Mining) and reviewed and approved by Mr David Williams of CSA. The Mineral Resource is based on 18,335m of RC drilling from the 2010 drilling campaigns detailed in section 4.7. Gold grades were interpolated using an inverse distance squared (IDS) technique with appropriate top cuts applied to reduce the impact of the few high grade outliers in the drilling database. Bulk densities are also interpolated into the block model and are in the range of 1.7t/m 3 for saprolite to 2.5t/m 3 for fresh rock. The base of complete oxidation (BOCO) and the top of fresh rock (TOFR) were delineated on 50–100m sections using a minimum of two recent drill holes The majority of the Souma Mineral Resource has been classified as Inferred due to the broad collar spacing of drill holes. The Indicated portion of the Resource is located in the core of the Dynamite prospect where drill spacing is approximately 25m x 25m. The geological model was defined by wireframes (snapped to drill holes) using a 0.2g/t gold cut‐off. The BOCO and TOFR surfaces were demarcated per section, using a minimum of two recent drill doles used in defining the mineralized zones. Parent cell dimensions of 5m x 25m x 5m along X, Y and Z respectively were used. Sub‐cell dimensions of 1.25m x 5m x 5m along X, Y and Z respectively were used. The ore geometry is summarised in Table 40. Table 40 Morphology ore geology at the Souma project Prospect Strike Length (m) Dip (degrees) Strike (degrees) Max. Width (m) Min. Width (m) Average Width (m) Miilam South 1,190 68 350 20 4 15 Miilam Central 1,450 72 340 20 4 15 Miilam North 900m 72 337 10 3 8 Dynamite 950m 66 356 20 5 15 Typical sectional interpretations for the various prospects within the Souma project are illustrated below. Report No: R253.2011 326 109
Avocet Mining PLC West African Projects Figure 32 cross sectional image of Dynamite prospect with block model and drilling Figure 33 cross sectional image of Miilam North prospect with block model and drilling Report No: R253.2011 327 110
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AVOCET MINING PLC * PROSPECTUS * DE
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Avocet Mining PLC Prospectus December 2011

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