Lapse of Option Agreement

15 December 2014

Alexander Mining plc

("Alexander" or the "Company")

Lapse of option agreement with mid-tier mining company

The Company has been informed that the agreement ("Agreement") signed with a mid-tier mining company ("the entity") has lapsed. Under the terms of the Agreement announced on 15 September 2014, the entity had been granted an exclusive three months' option period to complete due diligence on the AmmLeach® zinc processing technology.

The entity has told Alexander that the decision not to exercise the option or extend the exclusivity period is based on more pressing, recent business developments by the entity and a consequent change in its corporate priorities. It informed Alexander that it had concluded satisfactory thorough technical due diligence of the AmmLeach® zinc process and found its potential for commercial production adoption to be favourable.

Martin Rosser, CEO, said that: "whilst we are disappointed that the option will not be exercised, the Company is now free of its exclusivity restrictions and able to pursue alternative opportunities for the use of the AmmLeach® zinc processing technology."

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

Public/Media Relations

Britton Financial PR

Tim Blackstone

+44 (0) 20 7242 9786