Release: Avocet Mining: Statement re-press speculation

(10 June 2010)--Avocet Mining PLC ("Avocet" or "the Company") notes further Indonesian press speculation that it has signed an agreement to sell its South East Asian mines, consisting of North Lanut and Penjom, to PT Lebong Tandai, a wholly owned subsidiary of PT Merukh Enterprises, for US$250 million. PT Lebong Tandai currently owns 20% of Avocet's North Lanut mine and Bakan project in Indonesia. Avocet further notes comments attributed to PT Lebong Tandai that it was interested in buying Avocet outright and that Avocet's management was supporting such a plan.

These reports are incorrect and without foundation. Discussions with potential interested parties in the South East Asian mines remain ongoing and at a preliminary stage and may or may not result in a sale of Avocet's South East Asian assets. The Company confirms that no discussions have taken place with any parties in respect of the acquisition of Avocet. (end of release)