Avnel Gold Mining Limited (Avnel) is a Guernsey-based gold mining, exploration and development company with operations in southwestern Mali, near the border with Guinea, in West Africa. The Company is focused on developing the Kalana Gold Project into a low cost, open-pit mining operation. The Company is also advancing several satellite deposits that have the potential to become part of a larger mining operation on the 387 kilometer square 30-year Kalana Exploitation Permit. The PEA outlined the potential economics of an open-pit mining operation that recovers 1.46 million ounces of gold over a 14-year mine life at the Kalana Gold Project. Using a combination of gravity and CIL processes, average gold recovery is expected to be 93% over the life of mine. The expected recovery of gold from the historic tailings is estimated to be 87%.