Anglesey Mining Regulatory News (AYM)

ANGLESEY MINING PLC - LIM completes C$29 million equity financing

PR Newswire

London, February 13

Anglesey Mining plc LSE:AYM

13 February 2013

LIM completes C$29 million equity financing

Over-allotment option exercised in full

Anglesey Mining's associate Labrador Iron Mines Holdings Limited (TSX:LIM)reports that it has completed its previously announced public offering,including the full amount of the over-allotment option, for aggregate grossproceeds of C$28,980,000.

A total of 27,600,000 units of LIM, including those issued pursuant to theexercise of the over-allotment option, were issued and sold at a price ofC$1.05 per unit. Each unit consists of one common share of LIM and one-half ofone common share purchase warrant. Each warrant will entitle the holder topurchase one common share of LIM at an exercise price of C$1.35 per commonshare for a period of 36 months following the closing of the offering. Thewarrants have been listed on the Toronto Stock Exchange and will trade underthe symbol LIM.WT.

The offering was completed by a syndicate of underwriters led by CanaccordGenuity Corp. and included RBC Dominion Securities Inc., Scotia Capital Inc.,Macquarie Capital Markets Canada Ltd., Jennings Capital Inc. and Raymond JamesLtd.

LIM intends to use the net proceeds to fund pre-stripping, mining andprocessing costs, including payments to LIM's mining contractors, andtransportation costs in connection with the seasonal resumption of productionoperations in April 2013; also to supplement working capital and general andadministrative costs for the remaining winter season.

LIM issued 27,600,000 common shares pursuant to the offering and now has126,200,807 common shares outstanding. Anglesey has the right to purchase on anon-brokered private placement basis up to 3,000,000 units of one LIM share andone-half of one LIM share purchase warrant at a price of C$1.065 per unitsubject to certain conditions.

About Anglesey Mining plc

Anglesey currently holds 19,289,100 shares in LIM which comprise 15.3% of LIM'soutstanding share capital after the offering (19.6% prior to the offering).Toronto-listed Labrador Iron Mines Holdings Limited is producing high gradehematite from its James pit, one of LIM's twenty direct shipping iron oredeposits in western Labrador and north-eastern Quebec.

Anglesey is also carrying out exploration and development work at its 100%owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where a JORCCode-compliant resource of 2.1mt at 6.9% combined base metals in the indicatedcategory and 4.1mt at 5.0% combined in the inferred category was published inNovember 2012.

For further information, please contact:

Bill Hooley, Chief Executive +44 (0)1492 541981;

Ian Cuthbertson, Finance Director +44 (0)1248 361333;

Samantha Harrison / Klara Kaczmarek: RFC Ambrian +44 (0)20 3440 6800;

Emily Fenton / Jos Simson: Tavistock Communications +44 (0)20 7920 3155