Issue of Equity by Canadian subsidiary

Anglesey Mining plc                                                LSE:AYM

3 January 2008

Labrador Iron Mines Holdings
IPO Over-allotment option fully exercised

Anglesey Mining plc ("the Company") is pleased to report that Canaccord Capital
Corporation, the agent in the recently completed initial public offering by the
Company's Canadian subsidiary Labrador Iron Mines Holding Limited ("LIMH"), has
exercised its full over-allotment option to offer for sale an additional 1.72
million units at $C4.00 per unit for gross proceeds of $C6.9 million.  The
closing of this over-allotment option is anticipated to take place on 8 January
2008.

Exercise of the over-allotment option has increased the size of the initial
public offering to 13.19 million units raising total gross proceeds of $C52.8
million.  Each unit consists of one common share and one half of a common share
purchase warrant exercisable at a price of $C5.00 per share at any time prior to
24 months from the closing of the offering.

Following the exercise of the over-allotment option, LIMH will have 37,193,951
common shares and 6,596,975 share purchase warrants, both listed on the Toronto
Stock Exchange (TSX:LIR), together with 857,606 broker warrants and 2,950,000
director and employee stock options outstanding.  The Company holds 18.6 million
LIMH common shares and this constitutes over 50% of the issued common stock in
LIMH.

The Company in conjunction with LIMH believes that the gross proceeds of this
offering will be sufficient to bring the initial Labrador properties into
production without additional recourse to capital markets.  First production of
iron ore product is forecast for the summer of 2009.

Bill Hooley, Chief Executive, commented: "We are very pleased and encouraged by
the ongoing support shown to LIMH by the agent and we believe that this confirms
our faith in the strength of the Labrador Project.  We expect LIMH to continue
to make a major contribution to Anglesey in the future.

We note that at yesterday's closing market price in Toronto the market
capitalisation of LIMH based on this expanded share base is approximately $C156
million.

At this closing price and at the current exchange rate, the value of the
Company's holding in LIMH is approximately £38.5 million or over 25 pence per
Anglesey share.  In addition to LIMH, the Company continues to develop the
valuable Parys Mountain poly-metallic property in North Wales".


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
Canaccord Adams                    +(44)) 207 0506747
Parkgreen Communications           +(44) 20 7851 7480