Ashton Mining of Canada Inc.

1st Dec 2005 13:57

Rio Tinto PLC01 December 2005 Rio Tinto agrees to private placement with Ashton Mining of Canada Inc. Rio Tinto has agreed to acquire 3,460,000 flow-through common shares of AshtonMining of Canada Inc. ("Ashton") at a price of C$1.30 per common share. Thisprivate placement represents approximately 4.4 per cent of Ashton's issued andoutstanding common shares for gross proceeds to Ashton of C$4.5 million. Following the completion of the private placement, Rio Tinto (through bothAshton Canada Pty. Limited, an indirect, wholly-owned subsidiary of Rio TintoLimited, and QIT-Fer et Titane Inc., an indirect, wholly-owned subsidiary of RioTinto plc) will hold 43,498,696 common shares of Ashton (representingapproximately 53.4 per cent of Ashton's issued and outstanding common shares). Rio Tinto has no present intention of acquiring other securities of Ashton or ofdisposing of any of the securities of Ashton which it holds. Depending upon itsevaluation of Ashton's business, prospects and financial condition, the marketfor Ashton's securities, general economic conditions and other factors, RioTinto may acquire additional securities of Ashton or sell some or all of thesecurities it holds. For further information, please contact: LONDON AUSTRALIA Media Relations Media RelationsMaria Darby Walker Ian HeadOffice: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620Mobile: +44 (0) 7725 036 544 Mobile: +61 (0) 408 360 101 Investor Relations Investor RelationsNigel Jones Dave SkinnerOffice: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Susie CreswellOffice: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639Mobile: +44 (0) 7920 010 978 Mobile: +61 (0) 418 933 792 Website: www.riotinto.com This information is provided by RNS The company news service from the London Stock Exchange

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