Drilling commences at Parys Mountain

Trading Symbol

LSE: AYM

26 November 2021

Anglesey Mining plc

(“Anglesey” or “the Company”)

Drilling commences at Parys Mountain

Anglesey Mining plc (LSE:AYM), the UK minerals exploration and development company, is pleased to provide the following update on its Parys Mountain Copper-Lead-Zinc project on the Isle of Anglesey.

Highlights

• A nine-hole diamond drill programme of 2,750 metres has now commenced. It is anticipated that this programme will take around 3-months to complete.
• The programme has been designed to gather additional information that will feed into a Feasibility Study, which is expected to commence in 2022. Key information to be collected from this current drilling includes:
  • Infill drilling of the White Rock Zone to convert the remaining Inferred resource category material to the Indicated category. Currently, around 78% of the White Rock resource is in the Indicated category.,
  • Provide geotechnical information to enable domain modelling for the mine design; and,
  • Allow for additional metallurgical testwork from both the Engine Zone and White Rock Zone  
• The Company has also recently expanded its workforce with a Site Manager for the Parys Mountain project and a Geologist commencing employment.
• Environmental consultants have now been engaged and recently commenced their evaluation of historical baseline studies that will feed into a subsequent gap analysis to determine future permitting requirements.
• Additionally, initial discussions have been had with metallurgical consultants regarding testwork to be conducted in 2022, which is targeting improved recoveries on both the lead and gold streams.

Jo Battershill, Chief Executive of Anglesey Mining, commented: “We were very pleased to see the Irish Drilling rig arrive on site yesterday and now look forward to seeing core coming out of the White Rock and Engine Zone deposits over the next three months. We would expect to have results coming back from the assay labs during the March quarter next year.

It is also very encouraging to have commenced the next stage of the environmental permitting process for Parys Mountain given the potential lead times involved with these activities.

Without doubt, the next year is shaping up to be a busy period for Anglesey Mining with activities at Parys Mountain moving up a gear and the PFS update for Grängesberg now underway. Recent investor marketing has demonstrated that the Parys Mountain project is significantly more advanced than has been generally understood. The project has a large resource with significant infrastructure in place both locally and regionally and continues to receive strong support from the local community”.

About Anglesey Mining plc

Anglesey Mining is listed on the London Stock Exchange and currently has 248,070,732 ordinary shares on issue.

Anglesey is developing its 100% owned Parys Mountain copper-zinc-lead deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category. 

Anglesey has an almost 20% interest, and management rights to the Grangesberg Iron project in Sweden, together with a right of first refusal to increase its interest by a further 50.1%.  Anglesey also holds 12% of Labrador Iron Mines Holdings Limited which has direct shipping iron ore deposits in Labrador and Quebec.

For further information, please contact:

Jo Battershill, CEO [phone]

John Kearney, Chairman + 1 416 362 6686

LEI: 213800X8BO8EK2B4HQ71