Final Results

Anglesey Mining plc

Preliminary Statement 2003

I am disappointed to have to report that once again metal prices
remained low during the year, especially in the case of zinc, and the
company has continued to concentrate its efforts on conserving resources
in anticipation of the long expected improvement in prices.

The company holds an important geological resource at Parys Mountain
which has been identified and described in independent geological
reports. This deposit is beyond and separate from the historic mine
workings and contains a total of 6.5 million tonnes with a combined
average grade for zinc, copper and lead of over 10%. There are also
estimated to be 60,000 ounces of gold and 250 tonnes (8,000,000 ounces)
of silver in this resource.

During the past year work commenced to dewater the higher levels of the
historic mine workings at Parys Mountain. A Project Group including the
Amlwch Industrial Heritage Trust, the company, Anglesey County Council,
the Environment Agency and other interested parties had been set up to
consider the condition of an underground concrete plug. This Group
concluded that the old workings should be dewatered and the plug
removed. The work, which has been undertaken by Anglesey County Council
and funded by the Council and the Welsh Development Agency, is expected
to significantly improve water quality to the south of the Mountain.
Discharge of the water is now almost complete.

This dewatering will also provide access to hitherto inaccessible areas
and enable new studies to be conducted which could help towards a better
geological understanding of the total Parys Mountain area. Whilst the
old workings are separate from the geological resource described above,
they are adjacent and parallel to a significant unmined deposit, the
Northern Copper Zone, which lies to the north of the old workings and
which was extensively explored by major mining companies, including
Noranda and Cominco in the 1960s and 70s. At that time it was reported
that the Northern Copper Zone contained 36,000,000 tonnes at an average
grade of 0.66% copper. It apparently was not assayed for gold. The
company plans to re-examine the potential of the Northern Copper Zone as
well as the prospective area deeper than and to the west of the White
Rock zone referred to in earlier reports and to carry out further
drilling closer to its identified resources, when funding permits.

The loss for the year was £121,299 before an exceptional item compared
with a loss of £106,078 for last year. As a result of continued low
metal prices, combined this year with a deterioration in the foreign
exchange rate, a further impairment provision of £2 million against the
value of the Parys Mountain property has been provided this year (last
year £2,200,000).

In order to better structure the company's activities and property
holdings, all the mineral rights required for the operation of the Parys
property have been transferred during the year from Anglesey Mining plc
to Parys Mountain Mines (UK) Limited, a wholly owned subsidiary,
together with the relevant accumulated expenditures and provisions.

John F Kearney
Chairman



Group balance sheet as at 31 March 2003

                                                     2003         2002
                                                      £            £
Fixed assets
Intangible assets                                 5,156,609     7,094,687
Tangible assets                                     186,602       185,240
              
                                                  5,343,211     7,279,927
Current assets
Debtors                                             106,211       102,935
Cash at bank and in hand                              2,260        13,166
                                                   
                                                    108,471       116,101
Current liabilities
Creditors - amounts due within one year          (1,275,473)   (1,098,520)
Net current liabilities                          (1,167,002)     (982,419)

Total net assets                                  4,176,209     6,297,508

Capital and reserves
Share capital - equity                            1,162,414     1,162,414
Share capital - non-equity                        5,510,833     5,510,833
Share premium account - equity                    5,737,146     5,737,146
Profit & loss account - deficit - equity         (8,234,184)   (6,112,885)

Total shareholders' funds                         4,176,209     6,297,508


Group profit and loss account for the year ended 31 March 2003

                                                     2003          2002
                                                      £             £
Turnover - continuing operations - -
Net operating expenses                              (51,260)      (38,822)

Exceptional item:
 Provision for impairment
 of intangible assets                            (2,000,000)   (2,200,000)

Loss on ordinary activities                      (2,051,260)   (2,238,822)
before interest & taxation

Interest receivable                                   2,139         2,451
Interest payable                                    (72,178)      (69,707)

Loss on ordinary activities before taxation      (2,121,299)   (2,306,078)

Tax on loss on ordinary activities                      -             -

Loss for the financial year                      (2,121,299)   (2,306,078)

Loss per share - basic                           (1.9) pence   (2.0) pence
Loss per share - diluted                         (1.9) pence   (2.0) pence



Group cashflow statement for the year ended 31 March 2003

                                                     2003          2002
                                                      £             £
Net cash outflow from
continuing operating activities                     (57,991)      (67,450)

Returns on investments and
servicing of finance
 Interest received                                       18            -
 Interest paid                                          (11)          (75)
                                                          7           (75)
Taxation

 UK Corporation tax                                      -             -



Capital expenditure and financial investment

 Payments to acquire intangible fixed assets        (10,922)       (7,783)
 Payments to acquire tangible fixed assets           (2,000)           -

                                                    (12,922)       (7,783)

Net cash outflow before financing                   (70,906)      (75,308)

Financing
 Increase in loans                                   60,000        87,930
 Expenses of share issues in year                        -           (200)

                                                     60,000        87,730

Increase/(decrease) in cash                         (10,906)       12,422

Contacts -
 J F Kearney Chairman - + 1 [phone]
 Ian Cuthbertson Finance director - 01248 361333