Acquisition

RNS Number:2097K
Avocet Mining PLC
22 April 2003


                               AVOCET MINING PLC

             ACQUISITION OF A FURTHER 5% OF ZERAVSHAN GOLD COMPANY

          COMPLETION OF SALE OF TUNGSTEN ASSETS TO PRIMARY METALS INC.


Avocet Mining PLC ("Avocet") announces the completion of the purchase of an
additional 5% interest in the Zeravshan Gold Company ("ZGC") in Tajikistan from
the International Finance Corporation ("IFC").  Avocet commenced negotiations
with the IFC at the time it completed the purchase of Nelson Resources' 44%
interest in ZGC in November 2002.  As well as the IFC's equity interest, an
Avocet group company has also purchased loans owed to the IFC by ZGC of
US$10.7million.  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 purchase
price for the IFC's interests was just over US$400,000.


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.


On 7th March 2003, Avocet announced that the terms of the sale of the Company's
tungsten assets to Salish Ventures Inc. ("Salish") had been restructured. This
transaction has now been completed following approval by the TSX Venture
Exchange in Canada and the shareholders of Salish, which has subsequently
changed its name to Primary Metals Inc ("PMI"). Consideration for the sale
included 3,000,001 shares in PMI resulting in Avocet owning or exercising
control over approximately 74% of the issued and outstanding shares of PMI.
Avocet also received 1,000,000 share purchase warrants, each warrant entitling
Avocet to purchase an additional common share of PMI at a price of Can$0.11 per
share in the first three years and Can$0.125 per share in the following two
years.  To supplement PMI's working capital, Avocet has advanced to PMI and an
indirect subsidiary of PMI an aggregate of US$275,000, US$225,000 of which is
convertible into additional securities of PMI.

This transferal of Avocet's tungsten business to a publicly listed company is a
step towards the company's objective of focusing entirely on its gold business
in Asia.

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).


Some of the details included in this news release are a requirement of the TSX
Venture Exchange, which has not reviewed and does not accept responsibility for
the adequacy or accuracy of this news release.

__________________________________________________________________________________________________

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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