Anglesey Mining PLC - Acquisition, etc

RNS NO 1702D
ANGLESEY MINGING PLC
27th August 1997



Anglesey Mining plc

Summary Announcement  -  Purchase of property
                         New acquisition
                         Placing for #485,000

Anglesey Mining plc is pleased to announce that
it has : -

 1 - secured its ownership of the Parys Mountain
     property by : -
          
          (a)  purchasing the freehold including the land and
               minerals (subject to a royalty) of the major part
               of the Parys Mountain property including the area
               containing all the presently identified reserves
               and the site of the proposed mill complex
          
          (b)  obtaining a new head lease of the land and minerals
               over the remainder of the Parys Mountain property
               and
          
          (c)  acquiring Parys Mountain Mines Limited, the
               original lessee of the Parys Mountain mining lease
               and the owner of a residual net profits interest in
               the property.
     
 2 - obtained a 100% interest in a gold lease over 11,000 acres,
     including the former producing Ogafau gold mine at
     Dolaucothi, near Lampeter in mid Wales.
     
 3 - effected a private placing to raise #485,000 in cash net of
     expenses, conditional only on the completion of the freehold
     purchase referred to above.
   
     The funds will be used to initiate exploration of the
     Dolaucothi gold property in Wales, continue the geological re-
     assessment at Parys Mountain, complete the purchase of the
     freehold at Parys Mountain and commence  diamond core
     drilling at both properties, scheduled for autumn 1997.
     
These transactions are aimed at re-establishing Anglesey Mining as
an active minerals company, increasing the areas of activity of
the company, providing funds for the exploration and development
of the company's assets and securing the company's interests in
its mineral properties.  They represent the culmination of many
months of negotiations and enable the company to actively move
forward again.

More detailed announcements in respect of each of the transactions
have also been issued.

Contacts :

Ian Cuthbertson                        John F. Kearney
Company Secretary                      Chairman
01248 361333                           001 416 362 6686

END

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