Anglesey Mining plc â LSE:AYMÂ 5 April 11 _LIM announces C$110 million equity financing_ Â Anglesey Miningâs associate Labrador Iron Mines Holdings Limited (TSX:LIM) (the âCompanyâ or âLIMâ) (hitherto 41% owned) is pleased to announce that in connection with its previously announced overnight marketed public offering on April 4, 2011 (the âOfferingâ), it has entered into an underwriting agreement with a syndicate of underwriters led by Canaccord Genuity Corp. and including BMO Nesbitt Burns Inc., Jennings Capital Inc., Haywood Securities Inc.

and Scotia Capital Inc.

(the âUnderwritersâ) to sell 8,000,000 common shares (the âCommon Sharesâ) at a price of C$12.50 per Common Share and 666,700 flow-through shares (the âFT Sharesâ, and together with the Common Shares, the âUnderwritten Sharesâ of the Company at a price of C$15.00 per FT Share for aggregate gross proceeds of C$110,000,500. LIM has also granted the Underwriters an over-allotment option to purchase up to that number of additional common shares (the âOver-Allotment Common Sharesâ, and together with the Common Shares and FT Shares, the âOffered Securitiesâ) equal to 15% of the Common Shares sold pursuant to the Offering, exercisable at any time up to 30 days after and including the closing of the Offering at a price equal to the offering price of the Common Shares of C$12.50 per share. Anglesey Mining plc has not taken part in the equity financing.

Following the issue of the Underwritten Shares Angleseys holding in LIM will represent 33.8% of LIMs issued share capital; assuming the Over-Allotment Common Shares are also issued, Angleseys holding in LIM will be 33.1%. LIM intends to use the net proceeds from the Offering for upgrades to and expansion of the Silver Yards plant, for payments under the recently announced rail transportation agreements, for exploration and development of its mineral projects, and for general corporate and working capital purposes. The Offering is being made pursuant to a short form prospectus filed in each of the provinces of Canada other than Quebec.

The Offered Securities are not registered under the U.S.

Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer of securities for sale in the United States.

The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S.

registration or an applicable exemption from U.S.

registration requirements. About Labrador Iron Mines Holdings Limited (LIM) LIMs Schefferville Area project involves the development of twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec near Schefferville, Quebec.

The properties are part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982. LIM contemplates mining in stages, the first phase of Stage 1 comprising the James and Redmond deposits, which are located in close proximity to existing infrastructure, and for which all operating permits have been issued and plant construction and mine development is nearing completion. For further information, please view the Companyâs website at www.labradorironmines.ca.  About Anglesey Mining plc  Anglesey Mining with its LSE main board listing is primarily focused on its 41% interest in Labrador Iron Mines (TSX:LIM).

In addition to any new projects that may be brought forward the company owns 100% of Parys Mountain in North Wales with an historical resource in excess of 7 million tonnes at over 9% combined copper, lead and zinc.

 For further information, please contact: Bill Hooley, Chief Executive +44 (0) 1492 541981 Ian Cuthbertson, Finance Director +44 (0) 1248 361333 Emily Fenton / Charlie Geller, Tavistock Communications +44 (0) 20 7920 3155 / +44 (0) 7788 554035 Sent to : [1]unsubscribe | [2]update profile | [3]forward to a friend Links: 1.

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