Acquisition of 29.8% stake in Grangesberg

9 February 2023

Anglesey Mining plc

(“Anglesey” or “the Company”)

Issue of Shares in respect of Acquisition of 29.8% Stake in Grängesberg

Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to announce that, further to the Company’s announcement released on 12 January 2023 regarding the agreement to acquire an additional 29.8% of Grängesberg Iron AB (“GIAB”), the entity that owns the Grängesberg Iron Ore Project in Sweden, the acquisition has now completed and Anglesey will issue 14,544,827 new ordinary shares of nominal value 1 pence each (“Ordinary Shares”) in the Company at an issue price of 3 pence per share (the “Consideration Shares”) to Roslagen Resources AB (“Roslagen”).

Application will be made for the Consideration Shares, which will rank pari passu with the existing Ordinary Shares in the Company, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 14 February 2023. The Consideration Shares shall be held in escrow for 12 months from their date of issue.

Following Admission, the Company's total issued share capital will consist of 295,220,548 Ordinary Shares. As such, the total number of voting rights in the Company will be 295,220,548 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest, in the Company under the FCA's Disclosure and Transparency Rules.

Following the issue of the Consideration Shares, Roslagen now holds approximately 4.9% of the issued share capital of the Company.

For further information, please contact:

Anglesey Mining plc
Jo Battershill, Chief Executive – Tel: [phone]
John Kearney, Chairman – Tel: [phone]

Davy
Nominated Adviser & Joint Corporate Broker
Brian Garrahy / Lauren O’Sullivan – Tel: [phone]

WH Ireland
Joint Corporate Broker
Katy Mitchell / Harry Ansell – Tel: [phone]

Scout Advisory Limited
Investor Relations Consultant
Sean Wade – Tel: [phone]

LEI: 213800X8BO8EK2B4HQ71