Avnel Gold Mining Limited's Shareholders Approve Acquisition of Avnel by Endeavour Mining Corporation

ST. PETER PORT, GUERNSEY--(Marketwired - Aug. 31, 2017) - Avnel Gold Mining Limited (TSX:AVK) ("Avnel") is pleased to announce that it has received the requisite shareholder approvals in respect of the previously announced proposed acquisition of Avnel by Endeavour Mining Corporation ("Endeavour") to be implemented by way of a scheme of arrangement pursuant to Part VIII of the Companies (Guernsey) Law, 2008 (as amended) (the "Scheme"). The shareholder approvals were obtained at the following meetings, held today: (i) a meeting of holders of ordinary shares of Avnel subject to the Scheme ("Scheme Shares") convened by order of the Royal Court of Guernsey (the "Court Meeting") and (ii) an extraordinary general meeting of holders of ordinary shares of Avnel (the "Extraordinary General Meeting", and together with the Court Meeting, the "Meetings"). Pursuant to the Scheme, holders of Scheme Shares will receive, for each Scheme Share held, 0.0187 ordinary shares in the capital of Endeavour.