Avnel and IAMGOLD agree exploration extension

ST. PETER PORT, GUERNSEY, Jan. 31, 2013 /CNW/ - Avnel Gold Mining Limited 
(TSX: AVK) - Avnel reports that it and IAMGOLD Corporation have agreed to 
extend the Exploration Phase under the Option Agreement between Avnel and 
IAMGOLD to enter into joint venture arrangements. Under the original Kalana 
Option Agreement IAMGOLD was scheduled to deliver a Resource Study during the 
third quarter of 2012 (subject to IAMGOLD's rights to extend the Exploration 
Phase for a maximum period of 12 months in specified circumstances). On May 
15, 2012, Avnel announced its agreement with IAMGOLD to extend the Exploration 
Phase to December 31, 2012, which the parties subsequently agreed to extend to 
January 31, 2013. Avnel and IAMGOLD have now agreed to a further extension 
of the Exploration Phase to February 28, 2013. 
Avnel is a producing gold mining company operating the Kalana Mine in 
south-west Mali and is engaged in the exploration of the 30-year Kalana 
Exploitation Permit encompassing 387.4 sq km around and to the south of the 
Kalana Mine as well as on Avnel's abutting Fougadian Exploration Permit. 
Avnel's principal asset is an 80% interest in Société d'Exploitation des 
Mines d'Or de Kalana ("SOMIKA") which is the holder of the Kalana Exploitation 
Permit. The Kalana Project is situate in south west Mali. The 387.4 sq km 
exploitation permit has a NI-43-101 compliant resource of 1,020,000 oz (at an 
average grade of 10.4 g/t) in the measured and indicated category, and 249,000 
oz (at an average grade of 3.4 g/t) in the inferred category. 
Avnel also holds the Fougadian Exploration Permit covering an area of 75 sq. 
km. to the south of the main Kalana Exploitation Permit area and abutting it. 
Avnel and IAMGOLD Corporation have entered into a joint venture arrangements 
agreement whereby IAMGOLD has the option to acquire up to an initial 51% in 
Avnel's interest in the Kalana Exploitation Permit as well as in Avnel's 
interest in the Fougadian Exploration Permit and in an additional 75 sq. kms 
to the south of Avnel's Fougadian Exploration Permit area for which IAMGOLD 
has applied for an exploration permit. 
Technical Information and Qualified Person/Quality Control Notes 
Information in this release arising subsequent to the date of the 2005 Snowden 
Technical Report regarding the Kalana Gold Mine and exploration activity is 
provided by Avnel management under the supervision of Roy Meade (a director of 
the Company) who is a non-independent "Qualified Person" as such term is 
defined in National Instrument 43-101. Portions of the information are based 
on assumptions, qualifications and procedures which are not fully described 
Forward-Looking Information 
This release includes certain statements that may be deemed "forward-looking 
statements". All statements in this release, other than statements of 
historical facts are forward-looking statements. Although Avnel believes the 
expectations expressed in such forward-looking statements are based on 
reasonable assumptions, such statements are not guarantees of future 
performance and actual results or developments may differ materially from 
those in the forward-looking statements. Factors that could cause actual 
results to differ materially from those in forward looking statements include 
market prices, continued availability of capital and financing and general 
economic, market or business conditions. Investors are cautioned that any such 
statements are not guarantees of future performance and actual results or 
developments may differ materially from those projected in the forward-looking 
statements. Avnel does not assume any obligation to update or revise its 
forward- looking statements, whether as a result of new information, future 
events or otherwise 
Howard Miller 
Chief Executive Officer Phone: +44 207 589 9082; Fax +44 207 589 8507 UK 
Mobile: +44 07768 696129 Canadian Mobile: +1 416 726 8174 
Email:howard@hbmiller.co.uk www.avnelgold.com 
Roy Meade 
Executive Director, Technical and Operations Phone : +223 6674 7679 
Public Relations Consultant: Ari Todd 
President FronTier Consulting 1 King Street West - Suite 1411 Toronto, Canada 
M5H 1A1 Direct: +1 416 800 9156 Mobile: +1 647 999 9734 
E-Mail:atodd@consultwithfrontier.com www.frontierconsultingltd.com 
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