NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF THAT JURISDICTION


In order to meet the statutory notice periods for a general meeting to take
place before Avocet Mining Plc (“Avocet” or the “Company”) has exhausted its own
cash resources, Avocet announces today that it has published a circular (the
“Circular”) containing details of the proposed members’ voluntary liquidation,
including Notice of a general meeting of Avocet to be held on 15 August 2019.

In its announcement of 16 July 2019, in relation to the withdrawal of
resolutions from the agenda of the general meeting of its shareholders on 18
July 2019, Avocet advised its shareholders that:

 “the Company’s residual cash resources provide headroom only for a few weeks of
running costs”, 

and that:

“before the Company has exhausted its own cash resources, the Board will, in
order to avoid an insolvent liquidation, immediately seek to obtain approval of
the resolutions required for a members’ voluntary liquidation to be implemented
and as such, preparations for the implementation thereof will continue.”

As part of these preparations, and in order to meet the statutory notice periods
for a general meeting to take place before it has exhausted its own cash
resources, Avocet today published a circular containing details of the proposed
members’ voluntary liquidation, including Notice of a general meeting of Avocet
(the “General Meeting”) to be held on 15 August 2019 at 2:00 p.m. at Felix Spier
Room at 15 Old Bailey, London, EC4M 7EF.  A copy of the Circular is available
for review at www.avocetmining.com. 

The purpose of the Circular is to explain why the proposals are being put
forward and to seek shareholders’ approval of certain resolutions required in
order for a members’ voluntary liquidation to be implemented. Shareholders are
advised that, in the event that any of the resolutions are not passed, the
proposed members’ voluntary liquidation will not be implemented. This would
leave the Board, given the Company's liquidity position, with no option other
than to immediately pursue a formal insolvency process by appointing
administrators to the Company. 

It is not expected that there will be any returns to the shareholders in the
event of the proposed members’ voluntary liquidation being implemented, nor if
the Company is placed into a formal insolvency process. 

It should be noted that today’s publication of the Circular in preparation for
the proposed members’ voluntary liquidation does not affect that: 

“[t]he Board is open to, in the short term, explore viable investment
opportunities (if any) for the Company; a prerequisite for the Board to advance
a possible investment opportunity, is that it be accompanied by new sources of
funding, as such a process cannot be financed from the Company’s own cash
resources” (announcement of 16 July 2019).

At the date of this announcement, the Company has not received a viable, funded
investment proposal. The Board will continue to be open to any such proposal
that is received prior to the General Meeting at which the liquidation of the
company will be proposed.

— END —

FOR FURTHER INFORMATION PLEASE CONTACT

Avocet Mining PLC	
Boudewijn Wentink, CEO
Yolanda Bolleurs, CFO
+44 203 709 2570



Blytheweigh Financial PR 
Tim Blythe
Camilla Horsfall
Megan Ray

+44 207 138 3204


NOTES TO EDITORS

Avocet Mining PLC (“Avocet”) is listed on the London Stock Exchange (ticker:
AVM.L) and the Oslo Børs (ticker: AVM.OL).