Notice of Results for the year ended 31 March 2007

Anglesey Mining plc                                   LSE:AYM

Preliminary Announcement 2007                    29 June 2007

Chairman's statement

We have made excellent progress at Parys Mountain and Labrador
during this last year with the main challenge facing us being
obtaining the major finance required to start development of both
projects.

At the Labrador project an initial feasibility study was
completed and Anglesey earned an 80% joint venture interest in
the properties.

At Parys Mountain a new JORC resource was published for the
White Rock Zone and a recently completed scoping study on White
Rock has demonstrated its viability.

Both these projects are distinguished by their short time to
production, a feature which should enable us to take advantage of
the present levels of metal prices. There is a strong consensus
amongst analysts that these historically high levels of metal prices
will continue for the foreseeable future.

The group reported a profit for the year of £6.76 million, which
included a reversal of a £7.2 million impairment provision made in
previous years, compared to a loss last year of £517,405.

Labrador

Our iron ore properties in eastern Labrador, formerly part of the
Iron Ore Company of Canada, have been the subject of intensive work
during the year. This culminated in the production of an initial
feasibility study which demonstrated the viability of the project.
The study looked at all the major technical, commercial and social
functions including resources, mining, metallurgy, infrastructure,
transportation, environmental issues and First Nation affairs. As a
consequence of this study and of the summer 2006 exploration
programme, and by committing to put the properties into production,
the company earned a 80% undivided interest in the properties.

The respected Canadian consultant SNC-Lavalin was retained to review
the development options for our Labrador properties. Its report was
carried out against the Canadian National Instrument 43-101 standard
and has not yet been finalised, but SNC generally conclude that the
historical resources on which the initial feasibility study was
based can be brought to a modern compliant standard with a
relatively limited confirmatory drilling programme.

There is considerable worldwide interest in iron ore deposits of the
size and style of our Schefferville project. Where these can be
brought to production rapidly and with relatively low capital cost,
both of which are the case at Schefferville, then those companies
that control these assets have risen significantly on their own
stock exchanges in recent months.

We are considering a number of options for financing the development
of the Labrador project, including a separate flotation of these
Canadian operations.

Parys Mountain

As indicated previously we have adopted a new development plan for
Parys Mountain in a three phase approach. The major aspects of these
phases are:

Phase I - the White Rock Mine, based on near surface resources
accessed and mined from a spiral decline over a period of five
years at 150,000 tonnes per annum.

Phase II - re-commissioning the Morris Shaft, then mining the
Engine zones and deeper White Rock at 350,000 tonnes per annum.

Phase III - extending the mine to the east into the Garth
Daniel and deep Engine zone areas at the same or an increased
production rate.

We believe this staged approach significantly reduces the time,
capital and risk required to bring the Parys Mountain mine into
production.

Micon International Co Limited was commissioned to carry out a
Scoping Study for Phase I of this plan and this study has recently
been received. This Study was based on the resource estimates for
White Rock made by Micon and published in late 2006. The study
suggests that a viable operation could be conducted on the White
Rock alone and would create a positive cashflow, including paying
the costs of a 500 tpd processing plant and driving the decline
access to 170 metres depth.

It is the company's intention to follow this plan and to use the
cashflow generated to continue development to the bottom of the
Morris Shaft. Subsequently the shaft, head-frame and winder would be
refurbished and the treatment capacity of the mill upgraded. This
would then enable production from the larger Engine Zone to merge
seamlessly with the end of White Rock production.

Because of the work already carried out, and the existing valid
planning permissions, we believe that, subject to financing, the
White Rock Mine could be in production in less than 18 months from
commencement of the decline development.

Financial results

With metal prices at their current and forecast levels we believe
the impairment provisions against the carrying value of the Parys
Mountain property made in previous years are no longer appropriate
and, in accordance with the relevant accounting standards, have been
reversed in this year's financial statements, resulting in a credit
to the Profit and Loss account of £7,200,000. Our administrative
expenses this year were £388,894 compared with £242,243 last year,
the increase being due to higher levels of activity and additions to
the payroll. Overall we are reporting a profit this year of
£6,762,751 compared with a loss last year of £517,405. The company
has no revenues from the operation of its properties.

Outlook

With the good progress made this year, our plan is to move forward
towards production from both our properties and we are continuing
our efforts to achieve this goal. Financing conditions are not as
easy as current metal prices might lead one to expect and we have
been frustrated and delayed in a number of initiatives. Nevertheless
we are confident that our projects are unique in their political
stability and ability to generate early cashflows and that they
distinguish us from the many development stage companies in the
market today.

We will continue to work towards our goal of the early development
of base metals at Parys Mountain and iron ore in Labrador. Once
these targets are achieved we anticipate better and wider
recognition of the value of the company.

John F. Kearney

Chairman



CONSOLIDATED INCOME STATEMENT
for the year ended 31 March 2007
All operations are continuing                     2007          2006
                                                     £             £
   Revenue                                           -             -
   Administration expenses (note 3)           (388,894)     (242,243)
   Impairment reversals/(provisions)         7,200,000     (194,065)
                    (note 4)
 Operating profit/(loss)                     6,811,106     (436,308)

   Investment income                            24,520        22,545
   Finance costs                              (72,875)     (103,642)

 Profit/(loss) before tax                    6,762,751     (517,405)

   Tax                                               -             -

 Profit/(loss) for the year                  6,762,751     (517,405)

   Profit/(loss) per share:
   Basic profit/(loss) per share                  4.9p        (0.4)p
   Diluted profit/(loss) per share                4.6p        (0.4)p



CONSOLIDATED BALANCE SHEET
                                               31 March      31 March
                                                   2007          2006
                                                      £             £
Assets
   Non-current assets
   Mineral property development (note 4)     13,655,700     5,571,034
   Property, plant and equipment                185,102       185,102
   Deposit                                      114,076       111,679

                                             13,954,878     5,867,815

   Current assets
   Other receivables                             19,103        10,800
   Cash and cash equivalents                     34,003     1,201,381

                                                 53,106     1,212,181

 Total assets                                14,007,984     7,079,996

Liabilities
   Current liabilities
   Trade and other payables                   (583,284)     (627,945)

                                              (583,284)     (627,945)

   Net current (liabilities)/assets           (530,178)       584,236

   Non-current liabilities
   Loan                                     (1,408,667)   (1,336,392)
   Long term provision                         (42,000)      (42,000)

                                            (1,450,667)   (1,378,392)

 Total liabilities                          (2,033,951)   (2,006,337)


 Net assets                                  11,974,033     5,073,659

Equity
   Share capital                              6,898,914     6,885,914
   Share premium                              7,189,359     7,090,049
   Share-based payments reserve                 229,549       160,709
   Currency translation reserve                (48,179)       (4,652)
   Retained losses                          (2,295,610)   (9,058,361)

Total shareholders' equity                   11,974,033     5,073,659



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
                                  Share       Share      Share               Retained        Total
                                capital     premium      based  Currency       losses
                                                      payments  translat
                                                       reserve       ion
                                                                 reserve
                                      £           £          £         £            £            £
 At 1 April 2005              6,673,247   5,737,146     61,947         -   (8,540,958)  3,931,382

 Share based remuneration             -           -     98,762         -            -      98,762
 Shares issued for cash         212,667   1,411,333          -         -            -   1,624,000
 Share issue expenses                 -    (58,430)          -         -            -     (58,430)
 Exchange differences on              -           -          -   (4,652)            -      (4,652)
   translation of foreign
   operations
 Loss for the year                    -           -          -         -    (517,403)    (517,403)

 At 31 March 2006             6,885,914   7,090,049    160,709   (4,652)  (9,058,361)    5,073,659


 Share based remuneration             -           -     68,840         -            -      68,840
 Shares issued for cash          13,000      99,760          -         -            -     112,760
 Share issue expenses                 -       (450)          -         -            -        (450)
 Exchange differences on              -           -          -                      -     (43,527)
  translation of foreign                                         (43,527)
  operations
 Profit for the year                  -           -          -         -    6,762,751   6,762,751

 At 31 March 2007             6,898,914   7,189,359    229,549  (48,179)   (2,295,610) 11,974,033




CONSOLIDATED CASHFLOW
for the year ended 31 March 2007
                                                   2007          2006
                                                      £             £
Operating activities
Profit/(loss) from operations                 6,811,106     (436,308)
   Adjustments for:
   Depreciation of plant & equipment                  -           500
   Impairment (reversals)/provision         (7,200,000)       194,065
   Share-based payments                          68,840        98,762

  Operating cashflow before
  movements in working capital                (320,054)     (142,981)
   Decrease in payables                        (31,099)       (2,790)
   Increase in receivables                      (2,397)       (9,998)

  Cash utilised by operations                 (353,550)     (155,769)

   Interest paid                                  (600)             -

Net cash used in operating activities         (354,150)     (155,769)

Investing activities
   Interest received                             22,123        20,676
   Mineral property development               (947,661)     (323,166)

Net cash used in investing activities         (925,538)     (302,490)

Financing activities
   Proceeds from issue of shares                112,310     1,615,570
   Proceeds from increase in loans                    -             -

Net cash from financing activities              112,310     1,615,570

Net (decrease)/increase in cash             (1,167,378)     1,157,311

 Cash and cash equivalents at beginning       1,201,381        44,070
of year
 Cash and cash equivalents at end of             34,003     1,201,381
year



Notes to the preliminary statement of results

1    General information

     Anglesey Mining plc is incorporated in the United Kingdom under the
     Companies Act 1985. The nature of the group's operations and its principal
     activities are set out in note 3.
     These financial statements are presented in pounds sterling because that is
     the currency of the primary economic environment in which the group
     operates.

2    Significant accounting policies

     Basis of Accounting

     The financial statements have been prepared in accordance with
     International Financial Reporting Standards (IFRS). The financial
     statements have also been prepared in accordance with the IFRSs adopted for
     use in the European Union and therefore comply with Article 4 of the EU IAS
     Regulation.
     The financial statements have been prepared on the historical cost basis.
     The principal accounting policies adopted are set out below.

     Going concern

     The financial statements are prepared on a going concern basis. The
     validity of the going concern concept is dependent on finance being
     available for the continuing working capital requirements of the group and
     finance for the development of the company's projects becoming available.
     Based on the assumptions that such finance will become available, the
     directors believe that the going concern basis is appropriate for these
     accounts. Should the going concern basis not be appropriate, adjustments
     would have to be made to reduce the value of the group's assets, in
     particular the intangible fixed assets, to their realisable values.

3    Business and geographical segments

     All activities relate to the group's principal activity which is the
     exploration and development of mining properties. The geographical segments
     in which these activities are carried out are shown below. The direct
     property expenses in the UK are in respect of the Parys project and in
     Canada they are in respect of the Labrador iron project. A small proportion
     of the overhead expenses in the UK are in respect of investigating other
     mineral development opportunities.

                                                  United       Canada        Total
                                                 Kingdom
                                                       £            £            £
     Direct property expenses
     Site labour and support                      53,350            -       53,350
     Geology & drilling                          254,447      298,923      553,370
     Feasibility reports                          63,340      161,180      224,520
     Property rentals, fees and charges           60,172            -       60,172



                                                 431,309      460,103      891,412

     Overhead expenses
     Corporate salaries & related costs          122,276            -      122,276
     Other corporate costs                       172,655       25,123      197,778
     Share-based payments                         68,840            -       68,840

                                                 363,771       25,123      388,894

     Total expenses                              795,080      485,226    1,280,306
     Less
     Capitalised to mineral property           (431,309)    (460,103)    (891,412)
     development costs

     Amount charged to income statement          363,771       25,123      388,894

     Assets and liabilities
     Assets                                   13,464,227      543,757   14,007,984
     Liabilities                                             (96,521)
                                             (1,937,430)               (2,033,951)

     Net assets                               11,526,797      447,236   11,974,033

     In accordance with the company's accounting policy, mineral property
     development expenses are capitalised and all other expenses are expensed in
     the income statement.
     The charge for share based remuneration arose on the grant of share options
     to management.


10   Intangible assets

     Group  -  Mineral property development costs

                                              Parys     Labrador   Dolaucothi        Total
                                           Mountain
     Cost                                         £            £            £            £
     At 1 April 2005                     12,280,536            -      194,065   12,474,601
     Additions - own expenditure            400,098       90,400            -      490,498
     At 1 April 2006                     12,680,634       90,400      194,065   12,965,099
     Additions - own expenditure            431,309      460,103            -      891,412
     Currency translation difference              -      (6,746)            -      (6,746)

     At 31 March 2007                    13,111,943      543,757      194,065   13,849,765

     Impairment provision
     At 1 April 2005                                           -            -
                                        (7,200,000)                            (7,200,000)
     Provided in year                             -            -    (194,065)    (194,065)

     At 31 March 2006                                          -    (194,065)
                                        (7,200,000)                            (7,394,065)
     Reversed in year                     7,200,000            -            -    7,200,000

     At 31 March 2007                             -            -    (194,065)    (194,065)
     Carrying amount
     Net book value 2007                 13,111,943      543,757            -   13,655,700
     Net book value 2006                  5,480,634       90,400            -    5,571,034

     Accumulated development expenditure in respect of each project is carried
     in the financial statements at cost, less an impairment provision where
     there are grounds to believe that the discounted present value of the
     future cash flows from the project is less than cost or there are other
     reasons to indicate that cost is not a suitable value. Each project is
     reviewed separately in order to make a determination of whether any
     impairment of its value has occurred.
     At Parys Mountain, impairment provisions were made over the financial years
     2001 to 2003 as the prices of the metals to be produced from the mine fell.
     This year the current and near-term foreseeable prices are significantly
     higher than they were when the impairment provisions were made. The result
     of re-estimating the cash flows of the Parys Mountain project at the
     director's estimates of future metal prices and capital and operating
     costs, and applying a discount rate of 10% (which has also been used in
     previous calculations) to the cashflow estimates, is a value significantly
     higher than the accumulated costs. Consequently the directors believe it is
     appropriate to reverse the impairment provisions made previously, which
     amount in total to £7,200,000.
     Development expenditures at Dolaucothi are shown at adjusted cost to the
     group on acquisition in 1997, plus expenditures since then at cost, less an
     impairment provision which reduces the carrying value of this property to
     nil. The company has no plans to develop the Dolaucothi project in the near
     future.
     The Labrador project is at an earlier stage than Parys Mountain but all
     present indications, including those resulting from the initial feasibility
     study produced in September 2006, are that it will have a value
     significantly in excess of the accumulated costs to date. No impairment
     provision has been made in respect of this property.
     The realisation of these intangible fixed assets is subject to a number of
     significant potential risks, which are further set out in the risks section
     of the business review in the directors' report. Should a project prove
     unsuccessful, the value included in the balance sheet would be written down
     to its net realisable value. The directors are aware that by its nature
     there is inherent uncertainty in such development costs as to the value of
     the asset. However they have reviewed the mineral property development
     costs at 31 March 2007 and are satisfied that the fair value is not less
     than the net book value and that the projects have the potential to achieve
     mine production and positive cash flows.


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
Parkgreen Communications                 + (44) 20 7493 3713