Recent Developments

Anglesey Mining PLC
14 June 2001


    14 June 2001

    Recent Developments

    John F. Kearney, chairman of Anglesey Mining plc reports a number of
    recent developments as follows:

      * A potential new mineral zone has been identified at the Parys
        Mountain property which opens up a second major exploration target and
        confirms yet again the unexplored potential of the entire Parys
        Mountain property.
      * The company is in negotiation with the lessor of the eastern part of
        the Parys Mountain property, who also holds a royalty on the entire
        property, with regard to settlement of outstanding rent and a
        reduction of the rent and royalty payable.
      * Anglesey Mining was not successful in its joint offer with Minco plc
        to acquire the Bula zinc deposit in Ireland. Anglesey was advised that
        the Receiver appointed by Bula's banks had entered into a contract
        with Tara Mines Limited, a wholly owned subsidiary of Outokumpu OYJ,
        to sell the Bula assets to Tara for IR£27.5 million (£21.4 million)
        subject to court approval and other conditions.
      * The company continues to evaluate a number of potential new projects
        in the mineral business both within Europe and overseas.
      * The company plans as soon as possible to undertake financing for a
        drilling programme to explore the exploration targets at Parys
        Mountain.
      * Malcolm Swallow, who served as a director of the company since 1988
        and as Mining director from 1988 to 1994 has resigned from the board.
        Malcolm was previously vice-president of corporate development of
        Imperial Metals Corporation and left Imperial to become president of
        Canadian Zinc Corporation. The directors would like to acknowledge the
        contribution of Malcolm Swallow to Anglesey Mining and to thank him
        for his service and advice.

    Contacts :
    Ian Cuthbertson                           John F. Kearney
    Company Secretary                         Chairman
    (44)1248 361333                           (1)416 362 6686