Anglesey Mining Regulatory News (AYM)

Anglesey Mining plc 4 December 2013 LSE:AYM Labrador Iron Mines completes third operating year Anglesey Mining plc ("Anglesey") is pleased to report that Labrador Iron MinesHoldings Limited ("LIM") in which Anglesey holds a 15% interest today notifiedthe successful completion of 10 shipments of iron ore totalling approximately1.7 million wet metric tonnes ("wmt") for its 2013 operating year. Ship 9, the Myrtalia, departed from the Port of Sept-Îles on November 22, 2013,carrying approximately 169,000 wmt of 58% Fe sinter product. Ship 10, theAnangel Sailor, is scheduled to depart the Port on December 2 2013, carryingapproximately 101,000 wmt of 62% lump product. With the sale of two shipments completed in November and early December, LIMhas achieved its production target of approximately 1.7 million wmt in 10cape-size shipments for 2013. Inventory of approximately 97,000 tonnes of lumpand sinter iron ore remain in the port which could not be loaded due tofreezing conditions. LIM has now concluded its third operating season, as mining, processing andrailing activities all wrapped up in November. LIM's exploration program willcontinue through the winter months with five diamond and two reversecirculation drill rigs on site. To date, LIM has drilled approximately10,000 metres ("m"), focusing mainly on the Howse, Houston and Gill Deposits.The full 14,000-m program is anticipated to be completed before year end. LIM's mining operations are seasonal, with a planned winter closure fromDecember to March. Detailed planning for the upcoming 2014 operating season isnow underway and operations will continue to be focused on its Stage 1deposits, including the James Mine and other smaller satellite deposits andstockpiles, all located within a 15-kilometre radius of the Silver Yardsprocessing plants. An assessment of the remaining life of James Mine hascommenced to evaluate the economics of extraction in 2014 of the remaining orein the bottom of the open pit and the down-dip depth extensions of some highergrade sections. LIM is also currently evaluating an interim plan to haul Houston ore to theSilver Yards process and rail loading facilities in 2014 as a first stage,lower initial capital approach for development of the Houston deposit. TheHouston and the adjacent Malcolm deposits are estimated to together contain40.6 million tonnes grading 57.6% Fe. When in full production, the HoustonProject is expected to produce about 2.5 million tonnes of iron ore annually. Development of the Houston Project is subject to the availability of financing.LIM is evaluating various financing alternatives or off-take arrangements, and/or other potential strategic options, to fund the planned first phase Houstondevelopment and related transportation expenditures. LIM is also seeking topursue strategic initiatives aimed at permanent structural reductions inoperating costs and revenue deductions. In resuming its planned seasonal mining operations in the spring of 2014, LIMwill incur regular winter stand-by costs from December 2013 to March 2014 andseasonal start-up mining, processing, rail and transportation and siteadministration expenses for the months of April and May 2014, before receipt ofpayment for its first shipment anticipated in June 2014, and will requireworking capital of approximately $20 million to $30 million to fund theseoperating expenses. LIM's full Press Release can be found on its website atwww.labradorironmines.ca. About Labrador Iron Mines Holdings Limited (LIM) Labrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolioof direct shipping (DSO) iron ore operations and projects located in theprolific Labrador Trough. Initial production commenced at the James Mine andSilver Yards plant in June 2011 and through to the end of its third operatingyear, LIM has sold 3.8 million wet tonnes in 23 shipments of iron ore into theChinese spot market. About Anglesey Mining plc Anglesey holds 15.3% of Toronto-listed Labrador Iron Mines Holdings Limitedwhich is producing high grade hematite from a number of direct shipping ironore deposits 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; Danesh Varma, Finance Director +44 (0)207 6539881; Samantha Harrison: RFC Ambrian +44 (0)20 3440 6800;

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