Trading Statement - Labrador Iron Mines reports...

Anglesey Mining plc                 LSE:AYM              8 April 2010

Labrador Iron Mines reports new Resource Estimates for Houston Deposit

  ·    Significant increase in iron ore resources

  ·    Project life extended

  ·    Deposits open for further exploration

Anglesey Mining plc is pleased to announce that its 41% owned associate company
Labrador Iron Mines Holdings Limited (TSX: LIM) is pleased to report new
resource estimates, prepared in accordance with NI 43-101, for its 100% owned
Houston deposit located close to the town of Schefferville, which comprises part
of LIM's Stage 1 direct shipping iron ore project located in western Labrador
and north-eastern Quebec.

The new resource estimates for Houston, combined with the previously announced
resource estimates for the James and Redmond deposits (see LIM press release
dated 12 November 2009), brings the total Measured and Indicated (NI 43-101
compliant) resource for LIM's Stage 1 deposits to 25.71 million tonnes at a
grade of 58.5% Fe.

LIM's resource estimates for the Houston deposit total 14.68 million tonnes at a
grade of 59.3% iron in the Measured and Indicated categories and 1.5 million
tonnes of resources have been classified in the Inferred category. A further
0.831 million tonnes of manganiferous iron resources have been classified in the
Measured and Indicated categories.

The new estimates show a significant increase in tonnage over the historical
resources (not NI 43-101 compliant), previously estimated by the Iron Ore
Company of Canada (IOC) prior to 1982.

Houston Deposit - New Resource Estimate at 50% Fe cut-off
Category        New resource  Grade (%     Historical
                  (Million       Fe)        resource
                   tonnes)                  (Million
                                            tonnes)
Measured            8.029       59.7
Indicated           6.656       58.8
Total M+I          14.684       59.3         9.114
Inferred            1.498       57.0
Manganiferous       0.831       54.3

Commenting on the Houston resource estimates, John F. Kearney, Chairman and CEO
of Labrador Iron Mines said, "The new resource estimates for Houston have
indicated a substantial increase in tonnage over the historic estimates for this
deposit. This is of particular significance as the increase will extend the
expected life of our Stage 1 project. The Houston deposit remains open to the
northwest and southeast and to depth."

The resource estimates have been prepared under the supervision of Terence N.
McKillen, P.Geo, in accordance with NI 43-101. The classification of resources
was completed using results of drilling and trenching carried out by LIM during
the 2006, 2008 and 2009 field seasons, which comprised twinning, in-fill and
step-out drilling and trenching, as well as drill and trench data previously
conducted by IOC. The resource estimates were prepared in-house by LIM and are
therefore not independent.

Houston Deposit

The Houston deposit is located in Labrador, approximately 8kms east of LIM's
Redmond deposit currently under development, and 5kms east of the main
Schefferville-Sept-Iles rail line.

The resource estimates for the Houston deposit are based on 4,181 metres of
drilling in 63 holes, 554 metres of trenching and 1,449 samples carried out by
LIM, in addition to 4,418 metres of drilling in 84 holes, 6,900 metres of
trenching and 3,571 samples previously carried out by IOC and are shown in the
following tables.

Houston Deposit - NI 43-101 Compliant Iron Resources
          (Direct Shipping Resource)(at 50% Fe cut-off)
Type   Classification
                        Tonnes    SG    Fe%     SiO2%
                       (x1,000)
NB-LNB Measured         6,700    3.52  61.12    8.58
       Indicated        5,274    3.51  60.40    9.61
       Inferred         1,004    3.48  59.17    11.43
HSiO2  Measured         1,329    3.33  52.64    21.33
       Indicated        1,382    3.33  52.71    21.08
       Inferred          494     3.32  52.55    21.19
Total  M + I            14,684   3.48  59.30    11.28
       Inferred         1,498    3.43  56.99    14.65


Houston Deposit - NI 43-101 Compliant Manganiferous Iron Resources
Classification      Tonnes     Fe%   SiO2%   Mn%
                   (x1,000)
Measured             480       54.2   8.8    5.8
Indicated            351       54.4   9.5    5.0
Total                831       54.3   9.1    5.5

     Cautionary Note
     Mineral resources are not mineral reserves and have not demonstrated
     economic viability. No dilution or recovery factors have been applied.
     There is no guarantee that mineral resources will be converted into
     mineable reserves. LIM has not completed an economic feasibility study on
     the Houston deposit or the Labrador Project. The Houston deposit is not
     part of LIM's Phase 1 Schefferville Area Iron Ore Project on which the
     Environmental Assessment has been completed.

     Block Modeling
     LIM used Gemcom GEMS 6.2.3 software for the resource estimation. The
     ordinary kriging interpolation method was used to estimate the resources by
     block modeling with block sizes of 5x5x5 metres and block rotation of 45.6°
     which corresponds to the general strike of the deposit. LIM used the
     geological and ore models interpreted in plane and in sections. LIM used
     different search ellipses derived from 3D semi-variogram analyses for the
     classification of the resources.

     Analyses
     Analyses for all of the samples from the 2006, 2008 and 2009 drilling and
     trenching programs were carried out by SGS-Lakefield Laboratory and/or by
     Activation Laboratories. The analytical method used was borate fusion whole
     rock X-Ray Fluorescence.

     Density
     A variable specific gravity (density) was used for the modeled ore types.
     LIM used the following equation: SG (in-situ) = (2.3388 + Fe x 0.0258) *
     0.9. The regression formula was calculated by LIM based upon 229 specific
     gravity tests which is considered a conservative measure of density.

     Qualified Person
     Information of a scientific or technical nature contained in this release
     has been prepared by or under the supervision of Terence McKillen, P.Geo.,
     Executive Vice President of the Corporation and a Qualified Person within
     the meaning of National Instrument 43-101 of the Canadian Securities
     Administrators.

About Labrador Iron Mines Holdings Limited (LIM)

LIM's Schefferville area project involves the development of twenty direct
shipping iron ore deposits in western Labrador and north-eastern Quebec near
Schefferville, Quebec. The properties are part of the historic Schefferville
area iron ore district where mining of adjacent deposits was previously carried
out by the Iron Ore Company of Canada from 1954 to 1982. Labrador Iron Mines
contemplates mining in four stages, the first phase of Stage 1 comprising the
James and Redmond deposits, which are located in close proximity to existing
infrastructure. LIM plans, subject to timely receipt of permits, to commence
iron ore production in mid-2010.

About Anglesey Mining plc

Anglesey Mining with its LSE main board listing is primarily focused on its 41%
interest in LIM. In addition to any new projects that may be brought forward the
company owns 100% of Parys Mountain in North Wales with an historical resource
in excess of 7 million tonnes at over 9% combined copper, lead and zinc.

For further information contact:
Bill Hooley, Chief Executive [phone]
Ian Cuthbertson, Finance Director  [phone]
Emily Fenton/Charlie Geller, Conduit PR  [phone] /
                                        [phone]