Avocet Mining

MINERAL RESOURCES AND RESERVES: TRI-KMineral Resources as at 20 December 2011Gross Net attributable (100%)Tonnes(Mt)Grade(g/t)ContainedouncesTonnes(Mt)Grade(g/t)ContainedouncesMineral ReservesProven ‐ ‐ ‐ ‐ ‐ ‐Probable ‐ ‐ ‐ ‐ ‐ ‐ROM Stockpiles ‐ ‐ ‐ ‐ ‐ ‐Reserves total - - - - - -Mineral ResourcesKoulékounMeasured ‐ ‐ ‐ ‐ ‐ ‐Indicated 21,610,000 1.44 1,001,000 21,610,000 1.44 1,001,000Measured + Indicated 21,610,000 1.44 1,001,000 21,610,000 1.44 1,001,000Inferred 22,600,000 1.15 832,000 22,600,000 1.15 832,000KodiéranInferred 7,260,000 1.76 411,000 7,260,000 1.76 411,000Resources total 51,470,000 1.36 2,244,000 51,470,000 1.36 2,244,0001. TMineral Resources are reported above 0.5g/t Au cut off. The Company owns 100% of Wega Mining Guinée SA, owner of the Koulékoun gold project. TheMineral Resources were estimated by Mr David Williams (MAusIMM, MAIG), a consultant employed by CSA Global Pty Ltd. Mr Williams has the experiencerelevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined by the Australasian JORC Code(2004) for the reporting of Exploration Results, Mineral Resources and Ore Reserves and as a Qualified Person as defined by the Canadian NationalInstrument 43-101 for the reporting of Exploration Results, Mineral Resources and Mineral Reserves (NI 43-101). Mr Williams consents to the inclusion ofthe technical information in this report in the form and context in which it occurs.2. Note: rounding errors may occur.AVOCET MINING INVESTOR PRESENTATION * APRIL 2012Page 30