Trading Statement - completion of Labrador C$35...

Anglesey Mining plc                 LSE:AYM              25 March 2010

LIM completes C$35 million financing

Anglesey Mining plc is pleased to announce that its 50% owned associate Labrador
Iron Mines (LIM) reports that it has completed the previously announced offering
of C$30,003,300 in LIM common shares (the "Treasury Common Shares") and
C$5,054,000 in flow-through shares, which have been placed at a price of C$5.55
per Treasury Common Share and C$6.65 per flow-through share (collectively, the
"Offering"). The Offering was completed by a syndicate of underwriters led by
Canaccord Financial Ltd. and included Jennings Capital Inc. and Haywood
Securities Inc. (collectively, the "Underwriters").

LIM intends to use the net proceeds from the Offering for exploration and
development of its mineral projects, and for general corporate and working
capital purposes.

LIM has 43,369,951 common shares outstanding after giving effect to the
Offering.

Anglesey Mining plc, in connection with the Offering, has granted the
Underwriters an option (the "Over-Allotment Option") to purchase from Anglesey
up to 810,900 previously issued LIM common shares for the purpose of covering
the Underwriters' over-allocation position at C$5.55 per share for gross
proceeds of up to C$4,500,495 (£2.9 million), being up to 15% of the amount
raised from the sale of Treasury Common Shares, exercisable at any time in whole
or in part, up to 30 days after the closing date of the Offering.

Anglesey currently holds 18,600,000 LIM common shares.  The net proceeds from
the sale of the optioned shares, if the Over-Allotment Option is exercised, will
be received entirely by Anglesey and will be used by Anglesey for general
corporate costs and working capital purposes.



Labrador Iron Mines Holdings Limited (LIM)

LIM's Schefferville Area project involves the exploration and development of
direct shipping iron ore deposits in western Labrador and north eastern Quebec
near Schefferville. These 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. LIM plans to mine its
deposits in varying stages, the first stage comprising the James and Redmond
deposits, which are located in Labrador in close proximity to existing
infrastructure. Subject to timely receipt of all permits and licences, iron ore
production is planned to commence in the summer of 2010.

About Anglesey Mining plc

Fully listed Anglesey Mining is focused on its 50% interest in Labrador Iron
Mines (TSX:LIM), which is developing iron ore deposits in Labrador and Quebec,
scheduled for production of high grade hematite in the third quarter of 2010.
The company also owns 100% of Parys Mountain in North Wales with a historical
resource in excess of 7 million tonnes at over 9% combined copper, lead and
zinc.



For further information contact
Bill Hooley, Chief Executive  01492 541981
Ian Cuthbertson, Finance Director  01248 361333
Emily Fenton/Charlie Geller, Conduit PR  020 7429 6666