03:46 PM EST - Avnel Gold Mining Limited : reports that it and IAMGOLD Corporation have agreed to extend the Exploration Phase under the Option Agreement between Avnel and IAMGOLD to enter into joint venture arrangements. Under the original Kalana Option Agreement IAMGOLD was scheduled to deliver a Resource Study during the third quarter of 2012 (subject to IAMGOLD's rights to extend the Exploration Phase for a maximum period of 12 months in specified circumstances). On May 15, 2012, Avnel announced its agreement with IAMGOLD to extend the Exploration Phase to December 31, 2012. Avnel and IAMGOLD have now agreed to a further extension of the Exploration Phase to January 31, 2013. Avnel Gold Mining Limited
shares T.AVK are trading down $0.005 at $0.37.
