Avnel Gold announces appointment of Chief Financial Officer

August 5th, 2008 - Posted in Gold, Gold Mining Companies

Avnel Gold Mining Ltd. is pleased to announce the appointment of Mr. Firdaus (Fred) Abbasi as Chief Financial Officer with immediate effect. Mr. Abbasi will also act as Avnel’s Corporate Secretary.

Mr. Abbasi will be based in London at Avnel’s representative corporate office and undertake regular monthly tours of duty to Avnel’s operations in Mali.

Mr. Abbasi is a Chartered Accountant with over 25 years experience in industry in the United Kingdom, East and West Africa, the Middle East and India, and has extensive working experience in the mining industry. Mr. Abbasi is multi-lingual, fluent in French and has extensive experience of the fiscal, legal, labour and social environments of French West Africa including Mali.

Avnel considers that Mr. Abbasi will play a significant role in improving the controls and efficiencies of its operations in Mali working together with Madame Bintou Diallo Keita who is the Finance Director of Avnel’s operating subsidiary in Mali.

The appointment of Mr. Abbasi is an important step in Avnel’s commitment to strengthening its management team and achieving its corporate objectives at the Kalana gold mine in Mali.

Avnel’s principal asset is an 80% interest in Société d’Exploitation des Mines d’Or de Kalana (”SOMIKA”). SOMIKA is the holder of a 30 year exploitation permit encompassing 387.4 sq. km. around and to the south of the operating Kalana gold mine in South West Mali. Avnel also holds the Fougadian Exploration Permit covering an area of 150 sq. km. which lies to the South of the main Kalana 30 year Exploitation Permit.

Avnel is a gold mining producing company operating the Kalana mine and is engaged in the exploration of the Kalana Permit and the Fougadian Permit.


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