Issue of Equity - Replacement

The following announcement replaces the Issue of Equity announcement released at 1.52pm this afternoon, 16 May 2013, under RNS number 9094E. The entity with which the Company has entered into a Leaching Technology Licence Agreement is Metalvalue Capital Holdings, as opposed to Metalvalue Limited as previously stated. All other information remains unchanged.

16 May 2013

Alexander Mining plc

('Alexander' or the 'Company')

Issue of Equity

Further to the announcement earlier today regarding an improved Leaching Technology Licence Agreement with Metalvalue Capital Holdings ("Metalvalue"), the Company confirms that it has issued 6,666,667 new ordinary shares (the "Ordinary Shares") to Metalvalue in respect of its subscription of £200,000 into the Company at 3p per share. In addition, the Company announces that it has issued a further 618,000 new Ordinary Shares to a consultant to the Company as a commission payment in respect of new investors introduced to the Company as part of its recent fundraising (as announced on 28 March 2013) and in recognition of investor relations services provided.

Application will be made to the London Stock Exchange for admission to trading on AIM for a total of 7,284,667 new Ordinary Shares and dealings are expected to commence on 22 May 2013. Following admission of the new Ordinary Shares, the Company will have a total of 169,129,718 ordinary shares in issue with each share carrying the right to one vote.

For further information please contact: