Anglesey Mining Regulatory News (AYM)

Anglesey Mining plc 2 July 2014 LSE:AYM Projects update; LIM releases year end financials Anglesey Mining plc ("Anglesey") which is concentrating its activities in thebase and bulk minerals sectors is pleased to provide the following updates onits major areas of minerals interest in three different countries. Parys Mountain Micon International Limited is now close to completing a detailed review of themineral potential of the entire Parys Mountain property in North Wales. Thisreview will cover both those resources on which Micon has previously providedJORC compliant indicated and inferred resource estimates as well as studying anumber of other deposits and locations within the property that were notincluded in those estimates. The report, which is due within a month, will enable Anglesey to better planits development strategy for Parys Mountain to ensure that the sizing of futureoperations is commensurate with the entire mineral potential and will notrequire expensive additions and compromises once operations begin. The board continues to review the status of base metals markets and inimportantly the zinc market to ensure that the commencement of production atParys Mountain coincides as closely as possible with the expected resurgence indemand for base metals concentrates particularly in the European environment.There are now positive signs that the long expected future shortfall in zincconcentrate supply related to major mine planned closures is coming closer tofruition. Grangesberg Anglesey completed its contractual arrangements over the Grangesberg iron oremine in Sweden in late May and since then the board of Grangesberg Iron AB("GIAB") on which Anglesey holds three out of five board seats has beenactively pursuing the restart of development activities at Grangesberg. Theseactivities had been largely suspended for a number of months during the periodin which GIAB was undergoing corporate reconstruction and refinancing. Two major activities are now being progressed that together will enable GIABand Anglesey to progress the development plan for the reopening of theGrangesberg mine. The first is a review of the resources at the property and itis expected that this will enable a resource estimate to be able to be madeunder the NI 43-101 standard. Such a compliant resource will ensure that futurefinancing of project can proceed smoothly. The consultant to carry out thiswork has been selected and it is expected that a report on this estimate willbe delivered to GIAB in August. The second activity will look closely at geo-mechanical and hydro-geologicalaspects of the site which will be critical components of the permitting regimerequired for the dewatering and reopening of the mine. The principal consultantwho will oversee this work, which will include drilling boreholes into thegeneral mine area and the capture and interpretation of key data on thephysical aspects of the ground and hydrological conditions, has been nominatedand is preparing specifications for the selection of contractors. It isexpected that all the drilling and analysis will be completed during the autumnand will allow the first stage of permit applications to be prepared andsubmitted. A number of other commercial and marketing studies will commence as soon as theSwedish summer holiday season is over. On June 12th the Swedish government rejected an appeal against the grant of themining concession to GIAB. As a result this 25 year mining concession is now infull force and effect. Labrador Labrador Iron Mines Holdings Ltd ("LIM") in which Anglesey holds a 15% interesttoday released its Financial Statements and Management Discussion and Analysis.Key points are: LIM completed its third operating season in December 2013 and achieved sales ofapproximately 1.7 million wet tonnes of iron ore and recognized net revenue of$85.9 million for fiscal 2014. LIM's sales were achieved at the expense of product quality, which impactedrevenues and resulted in a net loss reported for of $C105.2 million including adepletion and depreciation charge of $C33.6 million. LIM entered into a joint venture with Tata Steel Minerals Canada for theexploration and development of LIM's Howse deposit by selling a 51% interest inHowse for $C30 million. LIM completed its 2013 exploration programme of over 12,000 m of diamond andreverse circulation drilling. The focus of LIM's 2014 activities will be the development of the Houston Mineand, subject to completion of financing, plans to be in a position to beginproduction from Houston in 2015. The full Financial Statements and MD&A can be found on Sedar. About Anglesey Mining plc Anglesey is carrying out exploration and development work at its 100% ownedParys 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. In May 2014 Anglesey acquired the rights to earn a 57% interest in theGrangesberg iron ore mine in central Sweden which had prior indications that atleast 115 million tonnes or iron ore at 40% Fe remain for exploitation in theunderground workings. Anglesey holds 15.3% of the shares of Labrador Iron Mines Holdings Limitedwhich over the three years 2011 to 2013 produced about 3.5 million tonnes ofiron ore from its operations in Canada, all of which was sold in the China spotmarket. For further information, please contact: Bill Hooley, Chief Executive +44 (0)1492 541981; Danesh Varma, Finance Director +44 (0)207 653 9881;

Samantha Harrison: RFC Ambrian +44 (0)20 3440 6800