Anglesey Mining : Appointment of Canaccord Genuity as Joint Broker and Corporate Update

27 AprAppointment of Canaccord Genuity as Joint Broker and Corporate Update

Posted at 06:29hin Anglesey Announcementsby Don McCallum

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• Appointment of Canaccord Genuity as Joint Broker and Corporate Update

Anglesey Mining plc (AIM:AYM), the UK minerals development company, continues to advance work programmes at both its Parys Mountain Cu-Zn-Pb-Ag-Au VMS project on the Isle of Anglesey in north-west Wales and its Grängesberg iron ore project in Sweden.

Anglesey is also pleased to announce that Canaccord Genuity Limited has been appointed as Joint Broker with immediate effect.

Parys Mountain Cu-Zn-Pb-Ag-Au Project

• Infill drilling programme at Parys Mountain is expected to be completed over the next week
• First of the ten drill holes have been logged, sampled, cut and dispatched for assaying, with results expected towards the end of the June quarter
• Acoustic televiewing of drill holes has been completed, with data to be used in defining geotechnical domain model to assist with mine optimisation studies
• Metallurgical testwork is expected to commence once assay results have been received
• Environmental studies that are expected to form part of the permitting process have begun, with baseline surveys commencing last week
• Design work for the tailings storage facility is also expected to commence in the coming weeks

Grängesberg Iron Ore Project

• The Grängesberg Pre-Feasibility Study Update is nearing completion with our consultant, Micon International, currently completing the product marketing studies and financial modelling.

Jo Battershill, Chief Executive of Anglesey Mining, commented: "We are very pleased to have Canaccord now working alongside Anglesey. Canaccord continues to demonstrate its strength in the global natural resources space, and we look forward to working with the team."

"With the AIM admission process successfully completed, we now look forward to focusing on our key development projects. The progress at Parys Mountain since the drilling commenced in November has been very encouraging and we look forward to moving into the next stages of pre-development work. This work will include optimising mine designs, confirmatory metallurgical and pre-concentration testwork, tailings storage facility design work and environmental and permitting activities."

"We expect to receive the Grängesberg PFS Update over the next few weeks. Once received, we will be well positioned to design and plan the next stages of work programmes for the project. The combination of elevated iron ore prices and supply shocks from the tragedy unfolding in Ukraine, has provided a very strong backdrop and strategic positioning for the Grängesberg Project."

About Anglesey Mining plc

Anglesey Mining is traded on the AIM market of the London Stock Exchange and currently has 248,070,732 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 12% 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

John Kearney, Chairman - Tel: [phone]

Jo Battershill, Chief Executive - Tel: [phone]

Davy

Nominated Adviser & Joint Company Broker

John Frain - 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

Please click the link below to view / download PDF document in full.

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