Parys Mountain Tailings Management System Work ...

Trading Symbol

AIM: AYM

27^th July 2022

Anglesey Mining plc

(“Anglesey” or “the Company”)

Parys Mountain Tailings Management System Work Commences

Anglesey Mining plc (AIM:AYM), the UK minerals development company, is pleased to announce the engagement of Knight Piésold to commence both the design stage for the Tailings Management System at Parys Mountain and the geotechnical assessment of the underground development.

• The initial Tailings Scoping Study will comprise a high-level assessment for the Parys Mountain Tailings Management System (TMS).
• Extensive pre-existing site data will be assessed including existing hydrogeological, geochemical, geotechnical, geological, and mining information.  
• Following the data review and recent site visit by engineers from Knight Piésold, storage methods to be considered will include filtered stacking (dry stack) and conventional.
• The subsequent stages will include an evaluation of the preferred storage method followed by a detailed Feasibility Study.
• On the geotechnical front, Knight Piésold has also commenced the logging of the recently drilled and orientated core and analysis of the data (including digitally collected acoustic televiewer information) to assist with rock mass characterisation and development of a basic ground-support model.

Jo Battershill, Chief Executive of Anglesey Mining, commented: “Knight Piésold are one of the World’s leading geotechnical and engineering consultants for tailings storage solutions and we look forward to working with them closely through the design and implementation process at Parys Mountain.”

“The commencement of the tailings storage facility design stage is a very important aspect of the Parys Mountain work programme and a key element of the overall permitting process. Building on the extensive studies and site monitoring from previous years, the Parys Mountain mine plan is being designed to optimise extraction from the underground mine but at the same time minimise the volume of tailings and overall visual impact. When combined with the highest modern standards of tailings management we expect Parys Mountain to have negligible adverse impact on the surrounding environment.

“Equally, while the geotechnical conditions experienced in the underground development from 1989-91 were considered excellent, modelling of geotechnical domains requires updating and will feed into the next round of mine optimisation work to assist in maximising underground spans and potential extraction rates.”

About Anglesey Mining plc

Anglesey Mining is traded on the AIM market of the London Stock Exchange and currently has 280,175,721 ordinary shares on issue.

Anglesey is developing its 100% owned Parys Mountain Cu-Zn-Pb-Ag-Au deposit in North Wales, UK with a 2020 reported resource of 5.2 million tonnes at 4.3% combined base metals in the Indicated category and 11.7 million tonnes at 2.8% combined base metals in the Inferred category. 

Anglesey holds an almost 20% interest in the Grangesberg Iron project in Sweden, together with management rights and a right of first refusal to increase its interest to 70%.  Anglesey also holds 11% of Labrador Iron Mines Holdings Limited, which through its 52% owned subsidiaries, is engaged in the exploration and development of direct shipping iron ore deposits in Labrador and Quebec.

For further information, please contact:

Anglesey Mining plc

Jo Battershill, Chief Executive – Tel: [phone]

John Kearney, Chairman – Tel: [phone]

Davy

Nominated Adviser & Joint Company Broker

Brian Garrahy / Lauren O’Sullivan – Tel: [phone]

WH Ireland

Joint Corporate Broker

Katy Mitchell / Harry Ansell – Tel: [phone]

Canaccord Genuity Limited

Joint Company Broker

James Asensio / Harry Rees – Tel: [phone]

Scout Advisory Limited

Investor Relations Consultant

Sean Wade – Tel: [phone]

LEI: 213800X8BO8EK2B4HQ71