EGM Statement

Bisichi Mining PLC ('Bisichi Mining' or 'the Company')             

                         EGM Circular to Shareholders                          

Bisichi Mining announces that it has today posted a notice convening an
Extraordinary General Meeting ('EGM' and 'Notice' respectively) to approve the
grant of options over ordinary shares of 10p each in the Company ('Ordinary
Shares') to Andrew Heller and Thomas Kearney, both directors of the Company, as
set out below. The EGM will be held immediately after the company's AGM at
11.20 a.m. on 23 June 2005 at Gresham College, Barnard's Inn Hall, London EC1N
2HH.

 

Name of Director          Number of Options     Exercise Price              
                                                                            
Andrew Heller             80,000                £1.49 per share             
                                                                            
Thomas Kearney            120,000               £1.49 per share             
                                                                            

The exercise of these options is subject to the growth in group net assets over
the three-year period ending 31 December 2006 exceeding the growth in the
Retail Price Index over the same three-year period by at least 6% (i.e. an
average of 2% per annum). Subject to the satisfaction of this condition, the
options are exercisable from 24 September 2007. No consideration has been paid
for the granting of these options.

Following the approval of these options by shareholders, Andrew Heller and
Thomas Kearney will hold options over Ordinary Shares as follows:

Name of Director          Number of Options     Exercise Price              
                                                                            
Andrew Heller             313,000               Between £0.34 and £1.49 per 
                                                share                       
                                                                            
Thomas Kearney            120,000               £1.49 per share             
                                                                            

Copies of the Notice will be available from the Company Secretary, Bisichi
Mining PLC 8-10 New Fetter Lane, London EC4A 1AF and will shortly be available
for inspection at the UKLA's Document Viewing Facility, which is situated at:

 

25 North Colonnade

Canary Wharf

London

E14 5HS

Tel [phone]

 

3 June 2005