2012 Fourth Quarter Production Results

1/25/2013 2:00 AM EST

Avocet Mining PLC ("Avocet" or "the Company") today
announces its production and cash costs for the fourth
quarter of 2012 from its Inata Gold Mine in Burkina Faso:

· Total gold production for the quarter was 30,909
ounces at a total cash cost (including royalties) of
US$1,246 per ounce. This compares with 33,067 ounces
produced in the third quarter of 2012 at a total cash
cost of US$937 per ounce, and with 46,102 ounces
produced at a total cash cost of US$773 per ounce in
the fourth quarter of 2011; 

· Gold production from the Inata Gold Mine for the
year was 135,189 ounces at a total cash cost
(including royalties) of US$1,000 per ounce, in line
with revised guidance.  This compares with 166,744
ounces at a total cash cost of US$693 per ounce from
the Inata Gold Mine for the year ended December 2011.

As expected, cash costs rose in the fourth quarter due
to consultant fees paid to Alexander Proudfoot, a full
quarter of costs associated with the hired mining
fleet and scheduled maintenance of Inata's own mining
fleet. The impact of such items is expected to be
lower in future quarters. In addition, movements in
gold in circuit, which reflect the timing of gold
pours, added approximately US$190 per ounce compared
with the previous quarter.  This reflects 4,568 ounces
being added to gold in circuit inventory during the
fourth quarter, compared with a reduction in inventory
of 2,631 ounces in the third quarter.  Please see
Appendix 1 for further details of production and cash
costs.

Avocet's financial results for the year ended 31
December 2012 will be released on 7 March 2013.  A
presentation to analysts will be hosted at 9.00 am on
that day at the Andaz Hotel, 40 Liverpool Street,
London.  

For further information see appendix at 
[http://www.newsweb.no