Statement re Acquisition of Marampa Royalty

30 July 2012

BlackRock World Mining Trust plc

Acquisition of Marampa Royalty

The Board of BlackRock World Mining Trust plc (the "Company") announces that it
has entered into an agreement with London Mining Plc ("London Mining") whereby
the Company will acquire for a consideration of USD110 million, payable in cash
on completion, a 2% revenue related royalty (the "Royalty") calculated from any
iron ore sales over the life of the mine from London Mining's Marampa licence
ML09/02 in Sierra Leone ("Marampa"). 

The Royalty is payable quarterly in arrears calculated on the amount receivable
at the relevant point of sale, currently calculated with reference to the net
freight on board ("FOB") price received from sales of iron ore in Sierra Leone.
The Royalty will be calculated on similar terms as London Mining's existing
freight on board royalty payable to the Government of Sierra Leone. For the 6
months to 30 June 2012 the Marampa mine sold 594,000 tonnes which would have
resulted in a royalty payment to the Company for the six month period of
$1.23m. 

The Board believes that this investment is an attractive addition to the
investment portfolio as:

  - The investment is expected to be immediately income enhancing.  The Company
    intends to finance its investment by drawing upon its committed facilities
    and, on the base case production profile, the Royalty is expected to
    provide a yield significantly in excess of the Company's current cost of
    debt.   
  - The Royalty gives direct long term commodity price exposure to iron ore
    whilst avoiding mining sector cost inflation.   
  - The target production for Marampa is 5Mtpa. The Company's investment in the
    Royalty will provide London Mining with further financial resources to
    facilitate the expansion at Marampa to 9Mtpa at the appropriate time.
   
Completion of the transaction is expected by 3 August 2012

Anthony Lea, Chairman of the BlackRock World Mining Trust said "For some time
we have been reviewing a range of ways to invest in mining royalties. This deal
meets our investment objective of trying to raise income for the portfolio
whilst at the same time also being exposed to growth in production and to
changes in commodity prices. We are delighted to be partnering with London
Mining in this regard.

In last year's Annual Report we recognised the increased emphasis that
investors are placing on income and as such increased the dividend by 133%. By
adding this royalty to the portfolio we expect to be able to materially enhance
the dividend paying ability of the Company whilst at the same time, remain
exposed to both commodity price changes and growth in production at the mine."

Evy Hambro, CIO of the BlackRock Natural Resources Team and Fund Manager of the
BlackRock World Mining Trust said "We are a long term investor in Sierra Leone
and London Mining. This deal demonstrates our confidence in the London Mining
management team to deliver 9Mtpa and further expansions over time at its
Marampa mine. We remain positive on the long term outlook for iron ore and
believe that existing producers are in the strongest position to deliver
further supply.

Adding this royalty to the portfolio not only complements our existing
commodity allocation but also meets the Board's objective of using income to
attract new investors. We continue to evaluate a number of other opportunities
that are similar in nature to this royalty."

Enquiries:

Jonathan Ruck Keene, Chairman, Specialist Client Group,
BlackRock Investment Management (UK) Limited - Tel: [phone]

Evy Hambro, Fund Manager,
BlackRock Investment Management (UK) Limited - Tel: [phone]

Emma Phillips, Media & Communications,
BlackRock Investment Management (UK) Limited - Tel: [phone]