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News Article | April 27, 2017
Site: globenewswire.com

Supervisory board of Nordecon AS decided on its meeting held on 26 April 2017 to appoint two new management board members as of 01 May 2017: Maret Tambek will be responsible for financial management and support services of the group and Priit Luman’s responsibility will be the group’s activities in the export markets. Maret Tambek started working for Nordecon Infra AS as a financial manager in 2007. She assumed the position of head accountant of the group in spring 2010 and as of July 2014, Maret Tambek acts as a financial director of Nordecon AS. Previously, Maret worked for KPMG Baltics AS as an auditor for eleven years. She worked as a specialist for the Bank of Estonia from 1992 to 1996. Maret graduated from Tallinn University of Technology in the field of Management and Planning of Manufacturing in 1989. Maret is certified public accountant and member of the Estonian Auditors’ Association. Maret Tambek does not own the shares of Nordecon AS. Priit Luman has held different construction management related positions in Nordecon AS since 2006. Starting from 2013 he is the head of the buildings construction division. Priit graduated from Tallinn University of Technology in Civil and Building Engineering in 2010, obtaining a cum laude Master’s degree in Science in Engineering. Starting from 2017 Priit studies in the EMBA program of Aalto University. Priit Luman has been issued a Level V Diploma Civil Engineer by the Estonian Association of Civil Engineers. Priit Luman owns 200 shares of Nordecon AS. Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2016 was 183 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.


News Article | April 27, 2017
Site: globenewswire.com

Supervisory board of Nordecon AS decided on its meeting held on 26 April 2017 to appoint two new management board members as of 01 May 2017: Maret Tambek will be responsible for financial management and support services of the group and Priit Luman’s responsibility will be the group’s activities in the export markets. Maret Tambek started working for Nordecon Infra AS as a financial manager in 2007. She assumed the position of head accountant of the group in spring 2010 and as of July 2014, Maret Tambek acts as a financial director of Nordecon AS. Previously, Maret worked for KPMG Baltics AS as an auditor for eleven years. She worked as a specialist for the Bank of Estonia from 1992 to 1996. Maret graduated from Tallinn University of Technology in the field of Management and Planning of Manufacturing in 1989. Maret is certified public accountant and member of the Estonian Auditors’ Association. Maret Tambek does not own the shares of Nordecon AS. Priit Luman has held different construction management related positions in Nordecon AS since 2006. Starting from 2013 he is the head of the buildings construction division. Priit graduated from Tallinn University of Technology in Civil and Building Engineering in 2010, obtaining a cum laude Master’s degree in Science in Engineering. Starting from 2017 Priit studies in the EMBA program of Aalto University. Priit Luman has been issued a Level V Diploma Civil Engineer by the Estonian Association of Civil Engineers. Priit Luman owns 200 shares of Nordecon AS. Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2016 was 183 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.


News Article | April 27, 2017
Site: globenewswire.com

Supervisory board of Nordecon AS decided on its meeting held on 26 April 2017 to appoint two new management board members as of 01 May 2017: Maret Tambek will be responsible for financial management and support services of the group and Priit Luman’s responsibility will be the group’s activities in the export markets. Maret Tambek started working for Nordecon Infra AS as a financial manager in 2007. She assumed the position of head accountant of the group in spring 2010 and as of July 2014, Maret Tambek acts as a financial director of Nordecon AS. Previously, Maret worked for KPMG Baltics AS as an auditor for eleven years. She worked as a specialist for the Bank of Estonia from 1992 to 1996. Maret graduated from Tallinn University of Technology in the field of Management and Planning of Manufacturing in 1989. Maret is certified public accountant and member of the Estonian Auditors’ Association. Maret Tambek does not own the shares of Nordecon AS. Priit Luman has held different construction management related positions in Nordecon AS since 2006. Starting from 2013 he is the head of the buildings construction division. Priit graduated from Tallinn University of Technology in Civil and Building Engineering in 2010, obtaining a cum laude Master’s degree in Science in Engineering. Starting from 2017 Priit studies in the EMBA program of Aalto University. Priit Luman has been issued a Level V Diploma Civil Engineer by the Estonian Association of Civil Engineers. Priit Luman owns 200 shares of Nordecon AS. Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2016 was 183 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.


News Article | April 27, 2017
Site: globenewswire.com

Supervisory board of Nordecon AS decided on its meeting held on 26 April 2017 to appoint two new management board members as of 01 May 2017: Maret Tambek will be responsible for financial management and support services of the group and Priit Luman’s responsibility will be the group’s activities in the export markets. Maret Tambek started working for Nordecon Infra AS as a financial manager in 2007. She assumed the position of head accountant of the group in spring 2010 and as of July 2014, Maret Tambek acts as a financial director of Nordecon AS. Previously, Maret worked for KPMG Baltics AS as an auditor for eleven years. She worked as a specialist for the Bank of Estonia from 1992 to 1996. Maret graduated from Tallinn University of Technology in the field of Management and Planning of Manufacturing in 1989. Maret is certified public accountant and member of the Estonian Auditors’ Association. Maret Tambek does not own the shares of Nordecon AS. Priit Luman has held different construction management related positions in Nordecon AS since 2006. Starting from 2013 he is the head of the buildings construction division. Priit graduated from Tallinn University of Technology in Civil and Building Engineering in 2010, obtaining a cum laude Master’s degree in Science in Engineering. Starting from 2017 Priit studies in the EMBA program of Aalto University. Priit Luman has been issued a Level V Diploma Civil Engineer by the Estonian Association of Civil Engineers. Priit Luman owns 200 shares of Nordecon AS. Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 10 subsidiaries in the Group. The consolidated revenue of the Group in 2016 was 183 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.


Maui Brewing Company, headquartered in Kihei, Hawaii, started in 2005 as a small seven-barrel brewpub with the help of SBA financing. Today, it is the largest craft beer producer in Hawaii. "Garrett and Melanie have shown impressive growth, expanding in size, sales and scope of their business," McMahon said. "By 2007, increasing demand led them to open a second location in Lahaina with a 25-barrel capacity, giving them the ability to provide brewery tours and making it a tourist destination as well. By 2013, they were producing more than 19,000 barrels of beer a year, boosting revenues to more than $10 million. They have since expanded with a new 18,000 square-foot restaurant that opened in Oahu last year, and new brewpubs and eateries are scheduled to open later this year. By the end of 2018, Maui Brewing Company will employ a workforce of 700." McMahon also recognized National Small Business Person of the Year runners-up from Kentucky, California and Virginia, as well as winners from each of America's states and territories. "All of our winners have built very successful businesses through their hard work, innovative ideas and dedication to their employees and communities," McMahon said. Oscarware, Inc., a family-owned manufacturing business, was founded in 1989 by Debra and Reg Dudley. They pioneered the concept of manufacturing outdoor cooking with a disposable "Grill Topper" designed to provide campers a quick, easy and inexpensive way to cook in parks and campgrounds. Since that first product, Oscarware has expanded to 17 outdoor cooking gadgets, all manufactured in Kentucky. Oscarware has grown to 32 employees and distributes products across the United States. It now exports its products to Canada and Europe, with assistance from the SBA STEP exporting program. When Reg Dudley passed away unexpectedly in 2006, Debra took over at the helm of the company. She reached out to the Western Kentucky University Small Business Development Center, and since then has received extensive counseling and assistance with marketing, product development and financial forecasting of the business. The SBDC also helped Debra develop a strong business plan that enabled the company to obtain several commercial bank loans. This influx of cash was used to become current on two SBA 7(a) loans and to purchase materials and supplies. In the past three years, revenues have rapidly grown and net worth has more than doubled. In 2015, the company's sales grew a record 50 percent. Debra and Oscarware annually contribute time and money to local and regional charities, civic groups and schools. Lars Herman served in the U.S. Navy and resigned his commission with the Civil Engineer Corps in June 2009 after serving in various positions and rising to the rank of Lieutenant. He immediately established Herman Construction Group, Inc., an 8(a)-certified construction company specializing in federal projects. Herman competed for and won more than 80 general construction and design-build contracts ranging from $3,000 to nearly $24 million throughout the United States. Many of the projects were performed with several government agencies, including the U.S. Army, U.S. Navy, Veterans Administration, and the State of California, along with private and commercial clients. Herman has proven to be an industry expert in renovation, repair and upgrading active research facilities, laboratories, VA hospitals and military medical treatment facilities. Amidst dwindling government budgets and a highly competitive market, Herman not only survived the Great Recession but grew exponentially by penetrating niche markets that were underserved by small business prime contractors specializing in construction within occupied medical spaces. The SBA's 8(a) Business Development and Mentor-Protégé programs helped Herman develop the necessary tools for its double-digit growth. During 2013-2015, Herman received more than $80 million in contracts set aside for small businesses. In 2016, Herman was awarded an additional $51 million in set-aside contracts. After a successful 32-year career with the federal government, Corliss Udoema started Contract Solutions, Inc. in 2006 to provide professional staffing and management support services to federal, state and local government, private for-profit and non-profit clients. CSI is an 8(a) and economically disadvantaged woman-owned small business that works throughout the country. CSI sought and received assistance from the SBA's Office of Government Contracting. Udoema is able to use 8(a) certification to allow CSI to bid on set-aside contracts that allow the company to gain access to federal contracts that would otherwise be more difficult to win. After several years of steady growth, CSI has increased its contracts and revenue. In 2013, CSI participated in the SBA's Mentor-Protégé Program. The program allowed Udoema to win a contract with her mentor and later negotiate a subcontract with the same vendor, allowing her to continue the contract for four additional years. Udoema is also the founder and President of Agape Love in Action, a nonprofit organization providing support for those in need. The dedication to her clients, employees and the community has helped grow CSI since opening its doors. In addition, Udoema is a small business SCORE counselor, providing business mentoring to other entrepreneurs. To learn more about National Small Business Week and read the bios on all the winners, please visit www.sba.gov/nsbw About the U.S. Small Business Administration The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012 has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. www.sba.gov To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sba-honors-hawaii-entrepreneurs-as-2017-national-small-business-persons-of-the-year-300448856.html


News Article | February 16, 2017
Site: www.businesswire.com

SAN DIEGO--(BUSINESS WIRE)--California and Hawaii American Water have named Richard Svindland their new president, effective March 1, 2017. Svindland replaces Robert MacLean, who has served as president of California American Water since 2009. MacLean will now become senior vice president of American Water’s Eastern Division, which is comprised of New Jersey, New York, Virginia and Maryland. MacLean also will serve as president of New Jersey American Water. “We are so pleased to promote both Rob and Rich. It is well-deserved,” said Walter Lynch, chief operating officer at American Water. “I know Rich will take over where Rob left off, ensuring our customers in California and Hawaii receive the best service possible, while continuing to focus on the successful completion of the Monterey Peninsula water supply project. His deep utility experience makes him well-suited for this new role.” Svindland has more than 25 years of experience in the water and wastewater fields, most recently serving as California American Water’s vice president of operations. Prior to that role, he led Engineering at California American Water, where he managed all of the company's capital projects to ensure timely and cost-efficient delivery. He also developed capital planning strategies and provided an operational review of existing infrastructure to ensure California American Water’s systems met both the current and future water needs. Prior to his roles in California, Svindland worked extensively in American Water's southeast region on various projects and was named 2003 Civil Engineer of the Year in Industry by the Kentucky section of the American Society of Civil Engineers. He earned a bachelor's degree in civil engineering from the Georgia Institute of Technology and a master's degree in civil engineering from the University of Kentucky. California American Water, a subsidiary of American Water (NYSE: AWK), provides high-quality and reliable water and/or wastewater services to more than 660,000 people. Hawaii American Water provides quality wastewater services to approximately 28,000 people. With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,700 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada. More information can be found by visiting www.amwater.com.


FORT WORTH, Texas--(BUSINESS WIRE)--Peloton Land Solutions, Inc. (Peloton), has moved their corporate headquarters and Fort Worth office to Alliance Town Center, Hillwood Commons I, a Class A office complex, to manage continued company growth. The company leased more than 11,000 square feet to house approximately 60 employees and employs more than 100 team members at its three Texas locations. “Our goal was to begin 2017 in our new office space, so we’re pleased to have the move behind us and start the new year at Hillwood Commons I,” said Peloton President and CEO Aric Head. “We are also pleased to announce numerous promotions across our Texas offices for many of our hard working, well-deserving team members.” Fort Worth: Principal – Business Development Manager Travis Clegg, P.E.; Associate Principal - ISA Certified Arborist/Environmental Manager Chris Hamilton, CWB® Associates – Civil Engineer Kyle Kattner; Project Manager Logan McWhorter; Project Manager Denny Peters; Project Manager Nick Powell; Civil Engineer Matt Schneider; Civil Engineer Casey Stevenson and Civil Engineer Kole Weber; Austin: Associates - Operations Manager/Senior Project Manager Stephanie Stanford, P.E. and Project Manager Jeff Scott; Frisco: Associates - Project Manager Chuck Lamping, P.E.; and Senior Project Manager Nathan Thompson, P.E. Currently one of the fastest growing consulting firms in Texas, Peloton Land Solutions, Inc. was founded in Fort Worth in 2010 and has grown to more than 100 professional engineers, planners, surveyors, scientists, landscape architects and support personnel. With offices in Fort Worth, Austin and Frisco, Peloton provides comprehensive land development services for residential, commercial, industrial, municipal and energy sector clients. Their land development and energy services expertise includes: planning, civil engineering, surveying, landscape architecture and environmental science. An active supporter of the communities in which they operate, Peloton was named Emerging Small Business of the Year by the Fort Worth Chamber of Commerce in 2013 and was selected as the engineering firm of record for Facebook’s new billion-dollar Data Center in North Fort Worth, among other noteworthy projects. Peloton is a registered engineering firm in the state of Texas and is also registered as a Texas Board of Professional Land Surveying Firm. More information can be found on their website at www.pelotonland.com. TBPLS FIRM NO. 10177700 (FORT WORTH) TBPLS FIRM NO. 10193958 (FRISCO) TBPLS FIRM NO. 10194108 (AUSTIN) TBPE FIRM NO. 12207


RYE, N.Y.--(BUSINESS WIRE)--Gabelli & Company is pleased to announce that Mark W. Woodson, P.E., L.S., D.WRE, F.ASCE, the 2016 American Society of Civil Engineers President, will deliver a keynote address on America’s critical infrastructure spending needs at its 27th Annual Pump, Valve & Water Systems Symposium on March 1 in New York City. The American Society of Civil Engineers (ASCE) represents more than 150,000 members of the civil engineering profession in 177 countries. Founded in 1852, ASCE is the nation’s oldest engineering society. ASCE stands at the forefront of a profession that plans, designs, constructs, and operates society’s economic and social engine – the built environment – while protecting and restoring the natural environment. Mr. Woodson’s keynote will cover the facts behind the Report Card for America’s Infrastructure (infrastructurereportcard.org). The Report Card gave a GPA of “D+” to the nation’s infrastructure in 2013. The next Report Card will be released on March 9, 2017. Mr. Woodson will address the economic case for America’s infrastructure and the solutions that can close our infrastructure competitiveness gap compared to other nations. Mr. Woodson received his Bachelor of Science in Civil Engineering in 1979 and an MBA in 1985 from the University of Arizona in Tucson. Mark is a licensed civil engineer and surveyor in California and Arizona. In 1994, Mr. Woodson received the Arizona Civil Engineer Distinguished Service award from the Arizona Section of ASCE. In 2002, he was awarded the John C. Park Outstanding Engineering award by the Arizona Section of ASCE. In 2002, he was elected as a Fellow in the American Society of Civil Engineers. In 2013 he became a Diplomate of Water Resources Engineering. In 2014, Mr. Woodson was elected to become the 2016 ASCE President. Institutional investors should contact their Gabelli & Company sales representative to register.


News Article | November 2, 2016
Site: www.prweb.com

The Associated Builders and Contractors, a premier construction association representing the merit shop construction industry, awarded the City of Aurora’s Public Safety Training Center (CAPSTC) project the 2016 regional Excellence in Construction award for an institutional building between $10 and $25 million. The 23-acre campus consisted of seven different projects to be designed, built and integrated together in a short timeframe. A 1920’s themed gala of industry personnel recognized outstanding construction projects in various categories completed this last year in the Rocky Mountain Region. CAPSTC’s first place honor was given by judges based on factors such as safety, implementing innovations, and overcoming challenges. During the submittal review process, ABC’s evaluation committee noted the perfect safety record of the project, an extraordinary accomplishment of having no safety incidents on the large and complex project. The design-build team with Adolfson & Peterson Construction (AP) consisted of Design-build Architect Studiotrope, Civil Engineer Bowman Vision Land and Burn Building Specialist ELA Engineers, along with BCD Architect Barker Rinker Seacat Architecture, BCD Planning Architect RDG Planning & Design and Civil Engineer Martin/Martin. Beyond the expected complexities of this project, the design-build team faced extraordinary measures, such as removing inert bombs from the site, experiencing a main access site closure due to an over-booked air show and keeping all personnel safe when a tornado touched down. The completed joint-training campus now serves Aurora’s police and fire departments to be more effective as a team when responding to emergency scenes, such as the 2012 Aurora theater shootings. “Throughout the project the design team worked with the City and its Consultants to design and build a state-of-the-art, functional facility. Teamwork with the leadership of AP resulted in a highly functional safety training campus that will help meet the needs of our community for years to come,” stated James Brown, P.E., Project Construction Manager for City of Aurora. About AP Adolfson & Peterson Construction is a U.S.-based, privately held firm that is consistently ranked among the top 50 construction managers and general contractors in the nation. Founded in 1946, the company has built longstanding commitments to the regions in which it operates and is known nationally for its innovative and collaborative approaches within the building industry. Adolfson & Peterson Construction serves the education, multifamily, healthcare, commercial, municipal and senior living market segments from its offices in Charlotte, Dallas, Denver, Minneapolis and Phoenix. For more information, visit http://www.a-p.com and follow us on Facebook, LinkedIn and Twitter. ###


SAINT PETER PORT, GUERNSEY--(Marketwired - Feb. 13, 2017) - Avnel Gold Mining Limited ("Avnel" or the "Company") (TSX:AVK) is pleased to report the first results of the 2016 Kalanako drilling programme with the receipt of the first batch of assays. The drill programme objective is to provide additional information in support of an updated Mineral Resource Estimate for its Kalanako prospect in south-western Mali, West Africa. Howard Miller, Avnel's Chairman and CEO stated, "I am pleased to report that we have received the first batches of assays from the 2016 drilling programme successfully concluded at the Kalanako deposit. The Kalanako current maiden mineral resource is based on a wide drill spacing (75m x 25m). The RC infill drilling campaign has been designed to improve the grade/tonnage continuity inside and outside the March 2015 resource pit shells. Inside the South-East Resource pits, the first results received are encouraging and should support the conversion of a meaningful portion of our Inferred Resource into the Measured and Indicated categories. Outside the existing resource pits, although not all of the extension drilling was fruitful, the first batch results show high grade mineralisation has been intercepted in the Central and Central-South zones. These results have been obtained in a portion of the previous block models that reported no economic resource," said Mr. Miller. The results reported in this news release reflect the first batch of assays from 21 holes over 2,173m, from a total programme of 82 holes over 8,635m. This first batch represents nearly one-quarter of the total drill programme (holes RC204 to RC225). Maps of the general layout of the drill programme, the location of individual drill holes and significant intersections is provided in figures 1 and 2 near the end of this news release. Drill holes for the entire historical drill programme, including IAMGOLD's 2010 to 2012 and Avnel's 2016 drill programmes, and geophysical gradient IP are respectively presented in figures 2 and 3. Select composite assays and related drill hole information from this first batch is presented in the tables at the end of this news release. The majority of the assays reported in this news release are from the South-East and Central-South zones of the deposit. Results reported in the existing MRE pit shells are encouraging and should support the conversion of a large part of the Inferred Resource into Measured or Indicated categories. High grade results reported outside the existing MRE pit shells provide a significant opportunity to improve known mineralisation into large portions of the bock model that were not classified as resources. Significant intervals (>25g/t.m) from the South-East zone (inside the 2015 resources pit shells): Significant intervals (>25g/t.m) from the South-East zone (outside the 2015 resources pit shells): A summary of select composite assays and drill hole information from the 2016 drilling campaign are presented in tables 1 and 2, respectively. Located less than 3 km northeast of the Kalana Main Project and the milling facilities proposed in the OFS-DFS, the Kalanako prospect is an old area of traditional mining activity (Figure 2). Several mineralised trends have been established from RC and diamond drilling at Kalanako, resulting in a single northwest-southeast corridor of 1,500 meters by 250 meters. These mineralised zones are typically less than 10-20 meters wide and appear to be steeply dipping to the East, often contain high-grade intercepts near surface (i.e. in the weathered zone). The depth of saprolite and saprock is between 70 m and 130 m, much deeper than that observed at the Kalana deposit. Diamond drilling at Kalanako intersected numerous high strain zones, packets of densely laminated quartz veins or vein stockwork with sulphides and locally highly altered and mineralised felsic intrusive rocks. Mineralisation is associated with these felsic intrusive rocks or quartz stockwork that occur along northwest-southeast striking shear zones, parallel or less than 10° in azimuth from the main IP boundary between a low and a high IP gradient domain (Figure 3). The March 2015 MRE for the Kalanako deposit was based upon information from 46 diamond drill holes and 232 RC drillholes. Historical drill-hole intersection were independently summarised and press-released in October 2016. The Kalanako Mineral Resource Statement completed by Denny Jones (Pty) Limited, has been reported above a cut-off grade of 0.9 g/t Au, and is summarised as follow: An infill drilling programme of 8,635 meters has been successfully achieved in December 2016, on time and on budget and with an excellent productivity and safety record (no Lost Time Injury). This programme was focused on Kalanako's saprolite and saprock weathered domains, a depth considerably deeper than observed at Kalana Main (drillhole depth of 50-175 meters). Targets of the Kalanako drilling campaign: A large part of the Kalanako prospect remains undrilled. The drilled portion of Kalanako located at the central part of a 5 km long geophysical structure (figure 3) defined as a contact between low and high IP gradient domains. Kalanako is open on strike. Some large collapses above old artisanal underground developments in the north and more modern artisanal pits in the south, highlights the continuity of the mineralisation along the main northwest-southeast structure. Future drilling campaigns would target extensions along strike following our low-risk infill programme. In addition to the resource defined at Kalana, we see significant potential to add satellite deposits on our existing permit. A potential opportunity exists that would allow us to increase the production profile outlined in the DFS-OFS. The mill proposed in our DFS-OFS can process 25% more saprolite ore than fresh rock due to the relative ease of processing saprolite through the crushing and grinding circuit. In keeping with our corporate strategy, as we progress into construction we plan on continuing to add to the quantity and quality our mineral inventory through exploration work focusing on the soft saprolite high grade ore with the aim to increase planned gold production and reduce our total cash cost per ounce using satellite targets to supplement Kalana. The high-grade and close proximity makes Kalanako our highest priority advanced stage exploration target. It has the potential to become a high-grade open-pit satellite deposit delivering additional ore to the operation proposed in the DFS-OFS. As a supplemental deposit to Kalana Main, Kalanako could help extend the mine life or increase average gold production. As Avnel commences construction on Kalana Main we will be accelerating our regional geology programme to progress our portfolio of exploration targets. To date, only 3 of our 30 targets have been partially drill tested. Exploration work is being conducted to evaluate and rank our premier targets. Exploration programmes are conducted under the supervision of Dr. Olivier Féménias, EurGeol 1115, Avnel's Vice-President, Geology. Dr. Féménias, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. Strict sampling and QA/QC protocol are followed, including the insertion of standards, blanks, and duplicates on a regular basis as well as laboratory visit by senior geologists. Sample intervals are usually 1.0 m. Samples are prepared on site and collected by BIGS Global Burkina SARL ("BIGS Global") and transported to Ouagadougou in Burkina Faso for analysis. Analytical method is a 2-kilogram bottle-roll cyanidation using a LeachWELL catalyst. The leach residues from all samples with a grade in excess of 0.1 g/t Au were prepared by BIGS Global and split to 50 grams and then analysed by standard Fire Assay. Composites presented in the assay results tables include intervals with a grade x thickness equal or greater than 5 grams of gold per tonne x metre ("g/t.m") with a minimum grade of 0.65 g/t Au over a 1 m minimum width with a maximum internal dilution of 3 m. No assays results were capped. Due to the exploratory nature of this programme the true width of the mineralisation has not been reported. The intersections presented herein may not represent the true width of mineralisation. Avnel Gold is a TSX-listed gold mining, exploration and development company with operations in south-western Mali in West Africa. The Company's focus is to develop its 80%-owned Kalana Main Project from a small underground mine into a low-cost, open pit mining operation. The Company is also advancing exploration on several nearby satellite deposits on the 387 km2 30-year Kalana Exploitation Permit. On January 9, 2017, the Company reported the results of an Optimized Feasibility Study ("OFS") prepared by Snowden Mining Industry Consultants. The OFS outlines an 18-year open-pit mine life at the Kalana Main Project recovering 1.82 million ounces of gold at an average "all-in sustaining cost" of $561 per ounce over the first five years of steady state production and $730 per ounce over the life of mine with an initial capital cost of $171 million. Utilising a gold price of $1,200 per ounce and a 5% discount rate, the DFS reported a net present value ("NPV") of $321 million after-tax and imputed interest, and an internal rate of return ("IRR") of 50% on a 100% project basis. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this news release. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact, included in this release, including the future plans and objectives of Avnel Gold, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Avnel Gold's expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Avnel Gold's most recently completed Annual Information Form, which is available on SEDAR (www.sedar.com). Although Avnel Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Except where indicated, the disclosure contained or incorporated into this news release of an economic, scientific or technical nature, has been summarised or extracted from the National Instrument 43-101 - Standards of Disclosure for Mineral Projects("NI43-101") compliant technical report titled "NI43-101 Technical Report on Kalana Main Project", dated effective 30 March 2016 (the "Kalana Technical Report"), prepared by Snowden Mining Industry Consultants (Pty) Ltd. ("Snowden"), Denny Jones Ltd ("Denny Jones"), DRA Projects SA (Pty) Ltd ("DRA") and Epoch Resources (Pty) Ltd ("Epoch Resources"). The Kalana Technical Report was prepared under the supervision of Mr. Allan Earl (Executive Consultant - Mining Engineering of Snowden), Mr. Ivor Jones (Executive Consultant - Applied Geosciences of Denny Jones (Pty) Limited), Mr. Glenn Bezuidenhout (Principal Process Engineer of DRA), Mr. Sybrand van der Spuy (Civil Engineer of DRA), Mr. Guy Wiid (Principal Consultant -Tailings and Waste Rock Facilities of Epoch Resources), and Mr. Stephanus (Fanie) Coetzee (Principal Consultant -Environmental and Social of Epoch Resources), all of whom are independent "Qualified Persons" as such term is defined in NI 43-101. Readers should consult the Kalana Technical Report to obtain further particulars regarding the Kalana Project, which contains the Kalana Main Project, the Kalana Mine, plus a number of mineral exploration prospects. The Company filed the Kalana Technical Report in support of the Feasibility Study and the ESIA on SEDAR on May 6, 2016. Table 1: Kalanako Drilling - Select Composite Intervals Includes intervals >5 g/t.m, cut-of grade of 0.65 g/t Au, maximum 3m of internal dilution, no assay are capped To view Figure 1: Kalanako mineralisations, 2016 campaign drilling pattern and batch 1 significant intercepts (>5g/t.m), please visit the following link: http://media3.marketwire.com/docs/Significant%20intersections.jpg To view Figure 2: Kalanako mineralisations, drilling pattern, maiden resource pit shells and Historical Traditional mining footprint, please visit the following link: http://media3.marketwire.com/docs/Historical%20traditional.jpg To view Figure 3: Induced Polarisation (IP) gradient map highlighting the structural location of the Kalanako prospect and the area drilled to date, please visit the following link: http://media3.marketwire.com/docs/IP%20gradient.jpg

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