Mining Joint Venture

Anglo Pacific Group PLC
29 September 2004



Anglo Pacific Group PLC
29th September 2004

    Anglo Pacific Group PLC Announces New Australian Potential Coal Project
                            and Mining Joint Venture

Anglo Pacific Group PLC, (Anglo Pacific), the natural resources royalties
company with interests in coal, base and precious metals, today announces that
it has entered into a new joint venture with Core Resources Pty Ltd, (Core
Resources), a private Australian-based resources group, to identify mining
opportunities in Australia.

Core Resources was founded, and is currently run, by Jonathan Loraine who until
recently was an Executive General Manager of MIM Holdings. In addition to a
number of commercial opportunities this joint venture also brings together a
shareholder group with significant expertise and strong relationships within the
mining industry, including Thiess, the Mining and Construction Group.

Anglo Pacific Group and Core Resources will carry out detailed investigations of
a potential coal position in a sub-basin in Northern Australia. The project was
recently identified by Conarco Minerals Pty Ltd (Conarco), a private company
which includes amongst its shareholders, John Collier, a former senior executive
of Rio Tinto in Australia. Conarco retains an active interest in these
tenements.

This project illustrates some of the key criteria used by Anglo Pacific when
identifying new projects, namely:

 1. an area offering potential for a substantial resource at low production cost


 2. attractive entry costs


 3. future potential royalty flow


 4. first world energy sector project

Commenting on the new joint venture, Peter Boycott, Chairman of Anglo Pacific
said:

'I am very pleased to be able to announce another commercial joint venture for
Anglo Pacific which should provide it with new mining opportunities. Core
Resources is a well established natural resources group within Australia and
Anglo Pacific will benefit from its association with the Company and the
additional industry expertise which Jonathan Loraine brings.

This potential coal project strengthens our portfolio of new mining
opportunities. The object is to achieve further royalty flows for our
shareholders'

Enquiries:

Brian Wides / Peter Boycott Anglo Pacific Group PLC 020 7409 1111
Stephen Scott / James Harris Scott Harris 020 7618 6433



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