LIM equity financing C$110m completed

Anglesey Mining plc LSE:AYM

26 April 2011

Labrador Iron completes C$110 million equity financing

Anglesey Mining's 33% owned associate Labrador Iron Mines Holdings Limited
(TSX:LIM) is pleased to announce that it has completed
its previously announced public offering of C$100,000,000 in common shares and
C$10,000,500 in flow-through shares of LIM, at a price of C$12.50 per common
share and C$15.00 per flow-through share (collectively, the "Offering").

The Offering was completed by a syndicate of underwriters led by Canaccord
Genuity Corp. and included BMO Nesbitt Burns Inc., Jennings Capital Inc.,
Haywood Securities Inc. and Scotia Capital Inc. The Offering was made pursuant
to a short form prospectus filed in each of the provinces of Canada other than
Quebec.

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 mineral
projects, and for general corporate and working capital purposes.

LIM issued 8,000,000 common shares and 666,700 flow-through shares pursuant to
the Offering and now has 52,861,591 common shares outstanding after giving
effect to the Offering.

LIM has also granted an over-allotment option to purchase up to 1,200,000
additional common shares, 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 Anglesey's holding in LIM will represent 33.8%
of LIM's issued share capital; assuming the over-allotment additional common
shares are also issued, Anglesey's holding in LIM will be 33.1%.

About Labrador Iron Mines Holdings Limited (LIM)

LIM's Schefferville Area projects involve 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 developing its Schefferville Area projects in stages. The
first phase of Stage 1 comprises the James Deposit where mining has already
commenced. Approximately 500,000 tonnes of material has now been moved from the
James North and James South mines. About 100,000 tonnes of ore has been mined
up to April 22, 2011 and a stockpile of over 50,000 tonnes of iron ore has been
built up ahead of the crusher. Construction of the Silver Yards processing
plant has been completed and it is expected that, following commissioning, the
first ore will be fed to the plant in May.

For further information, please visit www.labradorironmines.ca

About Anglesey Mining plc

Anglesey Mining with its LSE main board listing is primarily focused on its 33%
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 [phone]
Ian Cuthbertson, Finance Director [phone]
Emily Fenton / Charlie Geller,
Tavistock Communications [phone] / [phone]