RNS Number:3993K
Avocet Mining PLC
25 April 2003

                    CLARIFICATION OF APRIL 22ND NEWS RELEASE

             ACQUISITION OF A FURTHER 5% OF ZERAVSHAN GOLD COMPANY


On April 22nd Avocet Mining PLC ("Avocet") announced the completion of the
purchase of an additional 5% interest in the Zeravshan Gold Company ("ZGC") in
Tajikistan from the International Finance Corporation ("IFC").  The release
stated that "Avocet now controls all ZGC's external debt - in total in excess of
US$90 million - and has begun negotiations with the Government of the Republic
of Tajikistan with a view to restructuring this debt."

The company notes that the market may have misinterpreted this statement and
wishes to clarify the purchase.  Avocet has, to date, purchased 49% of ZGC and
loans to ZGC in excess of US$90 million from the IFC and from Nelson Resources.
The ZGC debt is owed entirely to Avocet controlled companies, not to a third
party nor to the Republic of Tajikistan, which owns the remaining 51% equity of
ZGC.  As a result of the loans owed to it by ZGC, Avocet now controls 100% of
the cashflow of ZGC until such time as this debt is repaid to Avocet or
restructured.  Avocet has initiated negotiations with the Government of the
Republic of Tajikistan in order to forgive some of this debt in exchange for
certain beneficial conditions that include Avocet owning a greater equity
interest in ZGC.

ZGC holds an area of interest covering approximately 3,000 sq kms in northern
Tajikistan where past Soviet exploration has identified over 8 million ounces of
gold in a number of deposits including three deposits where ZGC conducts open
pit operations and has commenced underground development.

Avocet is a mining company listed on the Alternative Investment Market (AIM) of
the London Stock Exchange.  The company's principal activities are gold mining
and exploration in Malaysia (as owner of the Penjom mine, the country's largest
gold producer), Tajikistan (as 49% owner and operator of the Zeravshan Gold
Company, Tajikistan's largest gold mine), and Indonesia (where it has an
advanced stage gold exploration property in North Sulawesi, currently at the
feasibility stage).


________________________________________________________________________________

For further information please contact:

Avocet Mining PLC                            4C Communications Ltd
John Catchpole (Chief Executive)             Carina Corbett
Jonathan Henry (Finance Director)            020 8949 7171
020 7907 9000                                020 7907 4761

www.avocet.co.uk

                      This information is provided by RNS
            The company news service from the London Stock Exchange
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