Ashton Mining of Canada

13th Mar 2006 10:08

Rio Tinto PLC13 March 2006 Rio Tinto agrees to acquire shares of Ashton Mining of Canada Rio Tinto has agreed to acquire 5,539,286 common shares of Ashton Mining ofCanada Inc. ("Ashton") at a price of C$1.40 per common share in connection withthe issuance of common shares of Ashton by way of a public offering qualified bya short form prospectus. This acquisition represents approximately 6.6% ofAshton's current issued and outstanding common shares for gross proceeds toAshton of C$7,755,000. Following the completion of the acquisition, Rio Tinto (through both AshtonCanada Pty. Limited, an indirect, wholly-owned subsidiary of Rio Tinto Limited,and QIT-Fer et Titane Inc., an indirect, wholly-owned subsidiary of Rio Tintoplc) will hold 49,037,982 common shares of Ashton (representing approximately51.7% 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 RelationsHugh Leggatt Ian HeadOffice: +44 (0) 20 7753 2273 Office: +61 (0) 3 9283 3620Mobile: +44 (0) 7764 369 977 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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