LIM – 33% increase in year-end mineral resource

Anglesey Mining plc

23 May 2013 LSE:AYM

LIM - 33% increase in year-end mineral resource

Stage 2 Mineral Resources Double to 40.6 Million Tonnes

Anglesey Mining's 15% held associate Labrador Iron Mines Holdings Limited (TSX:
LIM) has today updated its NI 43-101 mineral resource as at its fiscal year-end
March 31, 2013 for the Schefferville/Menihek direct shipping iron ore ("DSO")
operations and projects located in Western Labrador and Quebec.

  * At March 31, 2013, LIM's total measured and indicated mineral resource
    (excluding stockpiles) was estimated at 59.5 million tonnes grading 56.7%
    iron ("Fe"), a 33% increase from March 31, 2012.
   
  * The measured and indicated resource for the Houston 1, 2 and 3 deposits
    increased to 31.3 million tonnes grading 57.5% Fe, a 37% increase over
    2012.
   
  * A new measured and indicated mineral resource estimate was calculated for
    the Malcolm-1 deposit, located adjacent to the Houston deposits, totalling 
    9.2 million tonnes grading 57.8% Fe. This represents a significant increase
    over the historical estimate of 2.9 million tonnes grading 56.2% Fe1.
   
  * Overall, the Stage 2 Houston and Malcolm deposits are estimated to contain 
    40.6 million tonnes of measured and indicated resource grading 57.6% Fe.
   
  * The mineral resource for LIM's Stage 1 Silver Yards deposits decreased to 
    18.9 million tonnes grading 54.9% Fe, from 21.7 million tonnes grading
    55.7% Fe in 2012, due to mine depletion and reconciliation at the
    James Mine.
   
  * An initial mineral resource was estimated for selected historical
    stockpiles, totalling 3.5 million tonnes of indicated resource grading
    49.1% Fe and 2.9 million tonnes of inferred resource grading 48.8% Fe.
   
In addition to the NI 43-101 compliant resource estimates mentioned in this
press release, a significant amount of historical resources have been defined
on LIM's properties by the Iron Ore Company of Canada ("IOC") during its
historical operations in the area.

For further information on resource calculation methods and resource tables
please see www.labradorironmines.ca

About Labrador Iron Mines Holdings Limited (LIM)

Labrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolio
of direct shipping (DSO) iron ore operations and projects located in the
prolific Labrador Trough. Initial production commenced at the James Mine in
June 2011. LIM has commenced its third year of operations and is targeting 1.75
to 2.0 million tonnes of saleable iron ore production in 2013.

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

About Anglesey Mining plc

Anglesey currently holds 19,289,100 shares in LIM which comprise 15.3% of LIM's
outstanding share capital. Toronto-listed Labrador Iron Mines Holdings Limited
is producing high grade hematite from its James pit, one of LIM's direct
shipping iron ore deposits in western Labrador and north-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 JORC
Code-compliant resource of 2.1mt at 6.9% combined base metals in the indicated
category and 4.1mt at 5.0% combined in the inferred category was published in
November 2012.

For further information, please contact:

Bill Hooley, Chief Executive [phone];
Ian Cuthbertson, Finance Director [phone];
Samantha Harrison: RFC Ambrian [phone];
Emily Fenton / Jos Simson: Tavistock Communications [phone]