AVK Advent Convertible and Income Fund

EDISON EQUITY RESEARCH: AVNEL GOLD MINING - KALANA’S GOLD CONTENT INCREASES 27% (CF PEA)

Avnel has materially increased the confidence level of the Kalana Main Project’s gold resource and increased the gold content of the resource pit shell by around 27%. Indicated gold resources increase 55% with a corresponding drop in inferred resources by 60%. The increase in geological understanding of Kalana reflected in these results bodes well for the upcoming prefeasibility study (PFS) expected near the end of 2014.

Avnel Gold is a TSX-listed gold mining, exploration and development company with operations in south-western 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. Avnel is also advancing several satellite deposits that have the potential to become part of a larger mining operation on the 387 km2 30-year Kalana Exploitation Permit.

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