Project and Production Update (7692Z)

TIDMANGM

RNS Number : 7692Z

Angel Mining PLC

21 March 2012

ANGEL MINING PLC

("Angel Mining" or the "Company")

   AIM:   ANGM 

GOLD POUR

The board of Angel Mining plc is pleased to announce a gold dore pour of 15.942kg (463oz) at the Nalunaq Gold Mine on 16(th) March.

Mining operations have been progressing well, but the Company has been unable to mill crushed rock since the generator failure on 5(th) March. However, the other parts of the plant have remained operational and the Company has been able to process the milled ore and recover the gold that was already in the system.

The parts needed to repair the generator were despatched from Aalborg on time and are expected to arrive at Nalunaq on 22(nd) March. Full scale production should therefore recommence before month end.

Nicholas Hall, CEO, commented: "The previous gold dore pour was only 6 days before the generator failed and, although we cannot accurately extrapolate the data to calculate a monthly production rate, I consider this pour to be a good indication that, with a constant high grade feed, the mine and plant are capable of producing 1,500 to 2,000 ounces of gold per month. We are using the current time to get the whole operation as well prepared as possible for production in the coming months."

Enquiries:

 
 Angel Mining plc 
  Nicholas Hall, Chief Executive Officer          07931 709 053 
  Kevin McNair, Chief Financial Officer           07900 690 908 
 Fox-Davies Capital (Nominated Adviser 
  & Broker) 
  Daniel Fox-Davies 
  Simon Leathers                                        0203 463 5010 
 Bishopsgate Communications Limited 
  Nick Rome/Shabnam Bashir                        0207 562 3350 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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