Further re Labrador IPO in Canada

NOT FOR DISTRIBUTION INTO OR PUBLICATION IN CANADA OR THE UNITED STATES OF
AMERICA OR ANY OTHER JURISDICTION WHERE THE PUBLICATION OR DISTRIBUTION OF THIS
ANNOUNCEMENT MAY BE UNLAWFUL


Anglesey Mining plc

12 November 2007                                     LSE: AYM


PRICING OF THE PROPOSED INITIAL PUBLIC OFFERING OF
LABRADOR IRON MINES HOLDINGS LIMITED AT C$4.00 PER UNIT


Anglesey Mining plc ("Anglesey"), which has been advised by Canaccord Adams
Limited, is pleased to announce that, further to the Class 1 Circular dated 6
November 2007, LIM Holdings has agreed with its agent, Canaccord Capital
Corporation ("Canaccord"), to offer 11,473,000 units at a price of C$4.00
(approximately £2.00) per unit. If all of the units are subscribed for, LIM
Holdings will receive aggregate gross proceeds of C$45.89 million (approximately
£22.95 million).

Each unit consists of one common share of LIM Holdings and one-half of one
common share purchase warrant. A whole warrant is exercisable at any time prior
to 24 months from the closing of the offering and enables the holder to
subscribe for one additional common share in LIM Holdings at a price of C$5.00
(approximately £2.50) per common share.

In addition, Canaccord has been granted an over-allotment option exercisable for
a period of 30 days following the closing of the offering, to purchase a maximum
of 15% of the number of units issued pursuant to the offering.  If the over-
allotment option is exercised in full, the aggregate gross proceeds of the
offering will be C$52.78 million (approximately £26.89 million).

Completion of the offering remains subject to Canadian regulatory approval and
the filing of the final Prospectus. The offering is also subject to the approval
of the shareholders of Anglesey at the extraordinary general meeting convened
for 30 November 2007.  The anticipated completion date is 3 December 2007 or
such other later date as LIM Holdings may agree with Canaccord.

Following the closing of the offering Anglesey will hold 18.6 million common
shares of LIM Holdings which calculated at the unit offer price (mentioned
above), will have an implied market value of C$74 million (approximately £35
million).

Bill Hooley, Chief Executive of Anglesey commented "This is a very significant
step for Anglesey as it provides a quantified valuation of our holdings in the
Labrador Properties."


For further details:

Bill Hooley, Chief Executive                                +(44) 1492 541981
Ian Cuthbertson, Finance Director                           +(44) 1248 361333
John F. Kearney, Chairman                                   +(1) 416 362 6686
Robin Birchall, Canaccord Adams Limited                     +(44) 207 0506747
Parkgreen Communications                                    +(44) 20 7851 7480

ends