AIM Admission

Anglo Asian Mining PLC
29 July 2005


29 July 2005

 THIS ANNOUNCEMENT IS NOT FOR ISSUE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
             UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN.


                        ANGLO ASIAN MINING FLOATS ON AIM
                           Placing raises £20 million


Anglo Asian Mining PLC ('Anglo Asian' or 'the Company'), a gold and copper
development company with assets in Azerbaijan, today announces its admission to
AIM (EPIC: AAZ) ('Admission') following the successful placing of 26m shares at
77p to raise £20m.  Anglo-Suisse Capital Limited is the financial adviser and
Numis Securities Limited is acting as broker and nominated adviser to the
Company.  The placing was more than twice over subscribed at the placing price.


Placing statistics

Placing Price                                                                77p
Number of Placing Shares                                              26,000,000
Number of existing Ordinary Shares                                    73,171,800
Percentage of the enlarged share capital subject to the Placing           26.22%
Market capitalisation following Admission at the Placing Price       £76,362,286
Estimated gross proceeds of the Placing                              £20,020,000
Estimated net proceeds of the Placing                                £17,520,000


Anglo Asian has a joint venture with the Government of Azerbaijan under a 30
year Production Sharing Agreement ('PSA') managed by the Company to develop
previously identified copper and gold properties in Azerbaijan that lie on the
Tethyan Mineralization Belt which runs between Turkey and Pakistan.

Anglo Asian has at least 22 identified properties, of which eight have been
evaluated to date and which contain extensive adits (tunnelling) and drilling,
dating mostly from the Soviet era.  Behre Dolbear International Limited, the
minerals industry consultant, describes the Azerbaijan properties as 'a
potential source of copper and gold of world class importance'.  Behre Dolbear
considers that the eight properties contain an inferred resource of some 2.4
million tonnes of contained copper and 7.6 million ounces of gold.  Behre
Dolbear also project potential for an additional 10 million tonnes of contained
copper and 45 million ounces of gold which was calculated from existing Soviet
era data.

Anglo Asian has the potential to have one of the lowest forecast production
costs for a major mining group.  Seven of the eight already measured properties
are planned to be open pit and have higher than average ore grades; there is
relatively cheap fuel (and explosive) available in oil-rich Azerbaijan; and
there is a low-cost labour force that includes engineers, geologists and
environmentalists.  Estimates show cash production costs at under $90 per ounce
for gold and at less than 30c per pound for copper.

The net proceeds of the Placing will be used primarily:
     
•    to re-classify Soviet era resources - using infill drilling and re-sampling 
     of adits to prove scale of further potential to Western standards;

•    to start production - fast track one deposit to production at 250,000 oz 
     gold p.a., choosing from two mature possibilities;
     
•    to develop properties - conducting full bankable feasibility studies on two 
     further major properties.

Anglo Asian has three principal contract areas in Azerbaijan, which have a total
accessible area of 1,062 km2: Ordubad, Gedabek and Gosha.

The Ordubad area, some 462 km2, contains six projects: Shakardara, Piyazbashi,
Misdag, Agyurt, Shalala and Diakhchay which are likely to be developed by
cluster mining as they are all within a 5 km radius.  Additionally, the Ordubad
area contains other significant properties with Soviet era defined resources at
Yashiling, Goyhundur, Keleki and Kotam.

The Gedabek contract area, some 300 km2, is approximately 55 km from
Azerbaijan's second biggest city, Ganja.  This area contains the Gedabek
development property and a further eight properties, again with Soviet era
defined resources.

The 300 km2 Gosha contract area is approximately 25 km further to the west of
Gedebek and contains the Gosha property as well as the Itkirlanski and Mundjgdu
prospects.

Anglo Asian benefits from a management team with extensive experience.  The
Chairman, Mr Reza Vaziri, is Co-Chairman of the U.S.-Azerbaijan Chamber of
Commerce.  The Chief Executive, Charles Hancock, has over 20 years' investment
banking experience in corporate finance and M&A work.  Deputy Chairman Robert
Jeffcock, who played a key role in negotiating the merger of the RVI Group
(original owner of the PSA) with Anglo Asian Mining, founded and remains a
Director of AIM-listed Vane Minerals.  Richard Round, who will join the Company
in September as Finance Director, has spent the bulk of his career in mining and
is currently finance director of Mining (Scotland) Group, a large opencast coal
mining company.

Two non-executive members of the board are Governor John H. Sununu, who was
appointed Chief of Staff to President George H. Bush in 1989, and The Rt. Hon.
Tim Eggar who served as the UK's Minister for Industry and Energy from 1992 to
1996.  Both Governor Sununu and Mr Eggar have extensive business experience and
contacts in Azerbaijan.

Reza Vaziri, Chairman of Anglo Asian Mining, commented:

'The development of these Azerbaijan copper and gold deposits will bring a
significant economic boost to the country, especially the Nakhchivan enclave.  A
listing on AIM is an integral part of our strategy to grow into a major mining
company.  Early stage production will provide cash flow to enable us to bring
other properties to bankable feasibility study - and production status - in the
shortest possible timescale.'


-Ends-



For further details, please contact:

Anglo Asian Mining PLC        Charles Hancock, Chief Executive      [phone]

Numis Securities Limited      John Harrison                         [phone]

Parkgreen Communications      Justine Howarth/Victoria Thomas       [phone]




Notes to editors

Azerbaijan

Azerbaijan declared independence in 1991, following the break up of the Soviet
Union; and currently enjoys a stable government led by President Ilham Aliyev.

Its economy is growing, with low levels of inflation (c. 4% in 2004) and real
GDP growth of 14.5% forecast for 2005; this is expected to accelerate from 2006
as oil output (Azerbaijan's principal export commodity) takes off.  Fitch
Ratings upgraded its stance on Azerbaijan to 'BB' 'Stable' (higher than Turkey
and Brazil) in November 2004, stating 'The upgrade reflects a combination of
macro-economic stability and low general government debt, together with the
ongoing development of the important oil and gas sector' and 'there could be
upward pressure on the rating'.

Although Azerbaijan was involved in armed conflict with Armenia over the
disputed Nagorno-Karabakh region, a ceasefire was established in 1994 and there
has been a number of recent strong settlement initiatives.


The Board

Reza Vaziri - Chairman - aged 52

Mr. Vaziri served at the Ministry of the Imperial Court of the Shah of Iran
before moving to the US, where he became President of RV Investment Group.  Mr.
Vaziri is Co-Chairman of the U.S.-Azerbaijan Chamber of Commerce, whose Advisory
Board includes James Baker and Henry Kissinger

Robert Jeffcock - Deputy Chairman - aged 65

Mr. Jeffcock is Chairman and Chief Executive of 3Legs Venture Capital plc, which
specialises in resources investment.  He has 25 years' experience in the
petroleum and mining sectors. Mr. Jeffcock played a key role in negotiating the
merger of the RVI Group with Anglo Asian Mining.  He founded Vane Minerals plc,
which is listed on AIM, and is a non-executive director of Vane.

Charles Hancock - Chief Executive - aged 45

Mr. Hancock founded Anglo Asian Mining after working in international corporate
finance and mergers and acquisitions for investment banks for over 20 years.
His experience has been with Samuel Montagu, Morgan Grenfell and NatWest Markets
and he is founder and director of UK based corporate finance house Anglo-Suisse
Capital.

Richard Round, FCCA - Finance Director - aged 47 - with effect from September
2005

Mr Round began his mining career in 1977 with the National Coal Board.  He
joined Ferrum Holdings plc in 1987, becoming Group Finance Director in 1993.
Mr. Round was Finance Director of Consolidated Supply Management Limited in
1995, an international oilfield logistics group operating primarily in Latin
America and the Former Soviet Union, including Azerbaijan and Kazakhstan.  In
2001, Mr. Round became Financial Director for Mining (Scotland) Limited.

Mr. Round is currently working his notice period and is to start with Anglo
Asian in September 2005

Governor John H. Sununu - Non-executive Director - aged 65

Governor Sununu completed his Ph.D. in Mechanical Engineering from MIT.  He
became Governor of New Hampshire in 1983 and gained national recognition with
his election to the chairmanship of the National Governors Association in 1987.
Governor Sununu was appointed Chief of Staff to President George H. Bush in
1989.  He was a partner in Trinity International Partners, an international
consulting firm and, since 1992, he has been president of JHS Associates
Limited.

The Rt. Hon. Tim Eggar - Non-executive Director - aged 52

Mr. Eggar worked at Hambros Bank before spending 8 years with European Banking
Company, where he specialised in the Euro markets and international corporate
advisory work.  In 1979, he was elected to the UK parliament.  From 1985, he
served in several UK ministerial positions and ultimately was Minister for
Industry and Energy from 1992 to 1996.  Since leaving government, he has served
as a director of a number of companies, including Chairman of MW Kellogg Limited
and of Agip UK Limited.  He was Chief Executive Officer of Monument Oil and Gas
plc.  From 2000 to 2004, Mr. Eggar was Global Head of ABN AMRO's Global Energy
Corporate Finance Group and, most recently, Chairman of UK Client Coverage for
ABN AMRO.  Mr. Eggar is currently a Non-executive Director of Expro Group
International and President of the Russo-British Chamber of Commerce.  He was
the Chairman of the Anglo-Azeri Society.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY OR TO SUBSCRIBE FOR, OR
THE SOLICITATION OF AN OFFER TO BUY OR TO SUBSCRIBE FOR, SECURITIES IN ANY
JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL. IN PARTICULAR, THE
SECURITIES OF THE COMPANY HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933 AS AMENDED (THE 'SECURITIES ACT') OR
QUALIFIED FOR SALE UNDER THE LAWS OF ANY STATE OF THE UNITED STATES OR UNDER THE
APPLICABLE LAWS OF ANY OF CANADA, AUSTRALIA OR JAPAN AND, SUBJECT TO CERTAIN
EXCEPTIONS, MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO OR FOR THE
ACCOUNT OR BENEFIT OF US PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S UNDER
THE SECURITIES ACT) OR TO ANY NATIONAL, RESIDENT OR CITIZEN OF CANADA, AUSTRALIA
OR JAPAN.  NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE SENT TO OR TAKEN
INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN NOR MAY IT BE DISTRIBUTED TO
ANY US PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT).

Anglo-Suisse Capital Limited, which is authorised and regulated by the Financial
Services Authority, is acting exclusively for the Company and for no-one else in
connection with the matters referred to in this announcement.

Numis Securities Limited ('Numis'), which is regulated by the Financial Services
Authority, is acting exclusively for the Company and for no-one else in relation
to the application for Admission to AIM and will not be responsible to anyone
other than the Company for providing the protections afforded to clients of
Numis or for providing or giving advice in relation to the Placing, Admission or
any other matter referred to in this announcement.


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