Trading Statement - completion of Labrador C$35m financing


 
TIDMAYM 
 
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 (GBP2.9 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

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