LIM Announces Unit Equity Financing

ANGLESEY MINING PLC - LIM Announces Unit Equity Financing

PR Newswire

London, January 18

Anglesey Mining plc LSE:AYM

18 January 2013

LIM Announces Unit Equity Financing

Anglesey Mining's 19.7% owned associate Labrador Iron Mines Holdings Limited(TSX:LIM) announces that it has filed an amended and restated preliminary shortform prospectus in connection with an overnight marketed public offering (the"Offering") of units of LIM (the "Units") at a price of C$1.05 per Unit (the"Offering Price"). Each Unit will consist of one common share of LIM andone-half of one common share purchase warrant. Each warrant will entitle theholder to purchase one common share of LIM at an exercise price of C$1.35 percommon share for a period of 36 months following the date of closing of theOffering. The Offering will be conducted through a syndicate of underwritersled by Canaccord Genuity Corp. and including RBC Dominion Securities Inc.,Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., Jennings CapitalInc. and Raymond James Ltd. (the "Underwriters").

LIM will also grant the Underwriters an over-allotment option to purchase up tothat number of additional units (the "Over-Allotment Units") equal to 15% ofthe Units sold pursuant to the Offering, exercisable at any time up to 30 daysafter and including the closing of the Offering at a price equal to theOffering Price.

LIM intends to use the net proceeds from the Offering to fund pre-stripping,mining, and processing costs, including payments to LIM's mining contractors,and transportation costs, including tariff payments to TSH and QNS&L, inconnection with the seasonal resumption of production operations in April 2013;capital and infrastructure expenditures on the Silver Yards processing plantincluding the connection to hydro power; and to supplement working capital andgeneral and administrative costs for the remaining winter season.

For further information, please visit LIM's website at www.labradorironmines.ca.

About Anglesey Mining plc

Anglesey holds 19.7% of Toronto-listed Labrador Iron Mines Holdings Limited(TSX:LIM) which is producing high grade hematite from its James pit, one ofLIM's twenty direct shipping iron ore deposits in western Labrador andnorth-eastern Quebec.

Anglesey is also carrying out exploration and development work at its 100%owned Parys Mountain zinc-copper-lead deposit in North Wales, UK where a JORCCode-compliant resource of 2.1mt at 6.9% combined base metals in the indicatedcategory and 4.1mt at 5.0% combined in the inferred category was published inNovember 2012.

For further information, please contact:

Bill Hooley, Chief Executive +44 (0)1492 541981;

Ian Cuthbertson, Finance Director +44 (0)1248 361333;

Samantha Harrison / Klara Kaczmarek: RFC Ambrian +44 (0)20 3440 6800;

Emily Fenton / Jos Simson: Tavistock Communications +44 (0)20 7920 3155