Last checked at 14 Oct 2010 07:00
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector: Mining
14 October 2010
Anglo Asian Mining plc ('Anglo Asian' or 'the Company')
Statement re Press Coverage
The Directors of Anglo Asian have noted certain local Azerbaijan press coverage which inaccurately reports the Company's gold production targets to 2015 at its flagship Gedabek gold/copper mine ('Gedabek') in Azerbaijan.
The Company would like to reiterate that gold production at Gedabek totalled 47,711 ounces ('oz') for the three quarters to September 2010 and the Company's full year production target to 31 December 2010 remains unchanged at 60,000 oz of gold.
The Company's target gold production over a six year mine life remains in excess of 300,000 ounces of gold, from the commencement of gold production in 2009.
Anglo Asian updates the market on a quarterly basis regarding current and future production targets, and is committed to reporting any material changes to these forecasts through a London Stock Exchange announcement.
**ENDS**
For further information please visit www.aamining.com or contact:
| Reza Vaziri | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
| Andrew Herbert | Anglo Asian Mining plc | Tel: +994 12 596 3350 |
| John Harrison | Numis Securities Limited, as Nominated Adviser | Tel: +44 (0)20 7260 1000 |
| James Black | Numis Securities Limited, as Corporate Broker | Tel: +44 (0)20 7260 1000 |
| Hugo de Salis | St Brides Media & Finance Ltd | Tel: +44 (0)20 7236 1177 |
| Felicity Edwards | St Brides Media & Finance Ltd | Tel: +44 (0)20 7236 1177 |
Notes:
Anglo Asian Mining plc (AIM:AAZ) is an emerging gold producer in Central Asia with a broad portfolio of production and exploration assets in Azerbaijan. The Company has a 1,962 sq km prospective exploration portfolio, assembled on the back of analysis of historic Soviet geological data and held under a Production Sharing Agreement ('PSA') based on the Azeri oil industry. The Company developed Azerbaijan's first operating gold/copper mine, Gedabek, which commenced gold production in May 2009.
Anglo Asian is actively looking to exploit its first mover advantage in Azerbaijan to identify additional projects, as well as looking for other properties in Central Asia and Caucasia in order to fulfil its expansion ambitions and become a mid-tier gold and base metal production company focussed in these regions.