Drilling Report - Parys Mountain update

25 July 2006                                           AYM

Parys Mountain Drilling Programme - July 2006 update

·    Hole AMC19 Completed - Garth Daniel Area Extended
·    High Grade Intersection in North Central zone

Anglesey Mining plc is pleased to report that drillhole AMC19, which was
completed in July, intersected both the Carreg-y-doll and North Central zones,
including a wide high grade intersection in the North Central zone, and has
confirmed the extension of the new Garth Daniel resource area approximately
100 metres further west.

Hole AMC19 was collared approximately 100 metres northwest of AMC17 and was
planned to extend the new Garth Daniel resource area further westwards (see
press releases 22 March and 3 May 2006).

The hole, which was drilled to a total depth of 632 metres, intersected the
Carreg-y-doll horizon at a depth of 290 metres and the North Central zone at a
depth of 318 metres. As it went deeper the hole flattened more than anticipated
and intersected a major fault (the Hillside Fault) between 610 metres and 629
metres. This cut off the anticipated Engine zone horizon, which was not
intersected.

Of significant interest was the intersection in the North Central zone, which
assayed 11% combined base metals over 5.7 metres, including an impressive 31%
combined base metals (with some gold and silver) over a width of 1.6 metres.

Significant assay results are as follows:

Hole AMC19            Width    Cu      Pb     Zn      Ag     Au
                       (m)    (%)     (%)    (%)    (ppm)  (ppm)
Carreg-y-doll
290.0m - 298.2m        2.2    1.53    0.07   0.16     4     0.15

North Central zone
318.6m - 324.3m        5.7    1.01    3.33   6.66     17    0.34
Including
318.6m - 320.2m        1.6    2.72    9.95  18.31     39    0.48

In the 2005 drilling in drillholes AMC15, 16 and 17, the North Central zone
intersections had been relatively narrow, with AMC15 reporting 32% base metals
over 0.2 metres and AMC17 reporting 23% base metals over 0.4 metres. In AMC19
the North Central zone now appears to have widened to 5.7 metres averaging 11%
base metals, which corresponds well with the intersection of over 12.2 metres
averaging 14% base metals in H-30, drilled in the 1970s, and located
approximately 400 metres east of AMC19.

The North Central zone lies some 300 metres higher than the Engine zone and is
closer to the existing underground drive at the Morris shaft 280 metre level,
which will allow early access and development.

As a consequence of flattening more than anticipated, AMC19 intersected the
major Hillside Fault which cut off the projected Engine zone horizon. However,
this hole now provides a true location for the Hillside Fault at depth and
allows this to be tied in with the location of the Fault close to surface in the
19th century underground workings. It is believed that the Hillside Fault forms
the cut-off and the western boundary of all the zones in the Garth Daniel area.

"The width and grade encountered in the North Central zone in AMC19 are very
encouraging and compare well with those previously intersected in hole H-30"
said Bill Hooley, Anglesey's Executive Director. "Together these intersections
indicate that lenses of massive sulphide mineralization with mineable widths and
grades can be expected at the North Central zone horizon in the Garth Daniel
area. These are in addition to those previously identified at the deeper Engine
zone horizon. AMC19 also demonstrates that the Carreg-y-doll horizon continues
over a wide area, although its width and grade remain fairly low".

AMC19 has added further confirmation that the new Garth Daniel resource area
offers significant new potential and now extends over a strike length of at
least 500 metres west to east, with the other dimensions yet to be determined.

Exploration of this newly identified Garth Daniel area remains at an early
stage. The new area has been only partially tested, with just six drill holes
over an apparent strike length of approximately 500 metres. There is significant
potential to expand this area to the east for a total of approximately 1.5
kilometres, along the northern margins of the Parys Mountain volcanic complex.
Both the North Central zone and the Engine zone remain unexplored east of AMC15
and this eastern area will be the target of further exploration in the Garth
Daniel area.

Four holes completed in White Rock area drilling

As previously announced, approximately 800 metres to the west of the Garth
Daniel area, definition drilling has commenced with a second drill rig on the
White Rock zone which lies immediately in the vicinity of the Morris Shaft.

The White Rock, which would represent the first area to be mined in the planned
Parys Mountain mine development program, is being drilled to assist in mine
planning for access through a decline system. Five shallow inclined holes have
been completed and a sixth is in progress. These holes have intersected the
White Rock mineralisation 30 to 50 metres below surface and visually indicate
good continuity of the mineralised horizon. Samples from each of these holes
have been taken and sent for assay. Results will be reported when they are
available.

To assist in drilling the White Rock zone the first drill rig has been moved
from the Garth Daniel area, while the results in that area are being studied and
the two drill rigs will now be utilized to drill the White Rock zone, both along
strike and at depth to more fully define the mineralized zones.

About Anglesey Mining plc

Anglesey Mining plc is a UK based company established in 1984, listed on the
London Stock Exchange with two major projects under active development towards
mining production:

·    The historically important Parys Mountain copper-zinc-lead deposit (6.5Mt
at 10% combined) in North Wales where work is under way on an updated
feasibility study and an ongoing exploration drilling program.

·    The Labrador Iron Ore Project, a unique opportunity to re-establish major
iron ore mines previously operated by the Iron Ore Company of Canada, based on
100 million tones of hematite iron ore in Labrador, a direct shipping partially
developed project which will produce lump and sinter fines ores with a short
time to production and relatively low capital expenditure requirements.


For further details:
Ian Cuthbertson, Finance Director        + (44) 1248 361333
Bill Hooley, Executive Director          + (44) 1492 541981
John F. Kearney, Chairman                + (1) 416 362 6686
Cathy Malins / Annabel Leather,
Parkgreen Communications                 + (44) 20 7493 3713