Cancellation & Reissue of Options

14 May 2014

Alexander Mining plc

('Alexander' or the 'Company')

Cancellation and Reissue of Options

The Company announces that it has cancelled and re-issued certain options held by an applicable employee of the Company, by way of a cancellation of 500,000 existing options originally issued under Alexander's unapproved share option scheme and the subsequent issue of 500,000 new share options under the Company's EMI share option scheme (the "New Options"). The New Options, which have been issued at an exercise price of 4.92p per share; being a 27 per cent. premium to the closing middle market price on 12 May 2014, vest as to one third on each of 1 June 2014, 1 June 2015 and 1 June 2016, all with a final expiry date of 22 December 2020.

For further information please contact: 

Martin Rosser Matt Sutcliffe

Chief Executive Officer Executive Chairman

Mobile: + 44 (0) 7770 865 341 Mobile: +44 (0) 7887 930 758

Alexander Mining plc

1st Floor

35 Piccadilly

London

W1J 0DW

Tel: +44 (0) 20 7292 1300

Fax: +44 (0) 20 7292 1313

Email: [email protected]

Website: www.alexandermining.com