1 October 2018

Avocet Mining PLC ("Avocet" or "the Company") today announces its unaudited
interim results for the six months ended 30 June 2018. These results are
discussed under the section headed operational and financial results for the
first six months ended 30 June 2018 on page 3.

In the first half of 2018 management continued to pursue their primary strategic
objective: the refinancing and restructuring of the Group. 

The completion of the sale of Avocet's subsidiaries in Burkina Faso on 8
February 2018, and of the disposal of its wholly-owned Norwegian entity Wega
Mining and its subsidiaries on 16 March 2018, are part of this larger
restructuring effort, and took place against the background of on-going
discussions between the Company and its sole creditor Elliott Management
("Elliott") regarding the restructuring of its overdue loans.

Following these transactions the Company's stake in the Tri-K development is its
only asset. In light of Avocet's board remaining responsibilities and its
continued efforts to minimise costs, the size of the board was no longer
considered appropriate and it was reduced from five to two members on 19 March
2018.

On 5 September 2018, the Company has transferred a further 30 per cent of its
Tri-K gold project in Guinea to Managem SA ("Managem"), a Moroccan mining group
listed on the Casablanca stock exchange, under the October 2016 agreement Avocet
had entered into with Managem.

Outlook
At the corporate level, the loans of US$29.9 million as per 30 June 2018 from
Manchester Securities Corp (an affiliate of Elliott), the Company's largest
shareholder) remain an unsustainable debt burden. Elliott's loans have been due
since 2013. Discussions with Elliott regarding the restructuring of Avocet's
debts continue.

A possible outcome of these discussions could be that the Avocet Group is broken
up further in an orderly manner and eventually wound up. If this occurs, it is
expected that, given the amount of debt owed by Avocet, there will be very
minimal or no returns to Avocet's shareholders. 

At the moment Avocet has sufficient funds for at least the next twelve months as
of the date of signing of the report, at the current and expected rate of
spending, provided that the capital and interest on the Elliott's loan will not
have to be paid in that period.

The Directors consider that, at the date of signing the Report, the Company is a
going concern. Their considerations are explained more fully in note 1 to the
financial statements.



FOR FURTHER INFORMATION PLEASE CONTACT

Avocet Mining PLC	
Boudewijn Wentink, CEO
Yolanda Bolleurs, CFO

+44 20 3709 2570

Blytheweigh, Financial PR 
Tim Blythe
Camilla Horsfall
Megan Ray

+44 207 138 3204

NOTES TO EDITORS

Avocet Mining PLC ("Avocet" or the "Company") is a gold mining and exploration
company listed on the London Stock Exchange (ticker: AVM.L) and the Oslo Børs
(ticker: AVM.OL). The Company's principal activity is gold exploration in
Guinea, West Africa: the Tri-K project.