Angel Mining PLC : Result of AGM and Production Update

24 September 2012

Angel Mining plc (the "Company" or "Angel Mining")

AIM: ANGM

The Company is pleased to announce that all of the resolutions put to shareholders at today's annual general meeting have been duly approved.

Angel Mining provided shareholders with an operations update from its mines in Greenland. It stated that it poured 8.31kg (240oz) of gold doré on 26 August 2012 and another one of 8.87kg (256oz) on 13 September 2012. Production during August and September was impacted by low grade and problems with the crushing circuit. However, the crushing circuit is now fixed so that all crushing can be done underground while balls for the ball mill are due on site today and a new liner for the ball mill is in transit - due before end of month.

The Company expects total gold recovery for September to reach 793oz and forecasts gold recovery of 1,940oz in October, 1,765oz in November and 2,232oz in December.  These and further details can be found in the management presentation which was given to shareholders at today's AGM and has been made available in Investor Information Presentations.

Enquiries:
Angel Mining plc Nicholas Hall, Chief Executive Officer	[phone]
Angel Mining plc Kevin McNair, Chief Financial Officer	[phone]
Fox-Davies Capital (Broker) Fox-Davies Capital (NOMAD & Broker)  Daniel Fox-Davies  Simon Leathers	[phone]
Bishopsgate Communications Limited Nick Rome/Shabnam Bashir	0207 562 3350

Background to Angel Mining

Nalunaq

The Company first poured gold at Nalunaq on 27 May 2011 following final completion of the processing plant and is targeting optimal production during Q3 2012 of approximately 24,000 oz per annum thereby providing the Company with cash flow which will be dedicated to funding development at Black Angel, further exploration at Nalunaq and reducing debt.  The current mining plan anticipates a mine life of two to five years, subject to further exploration work. The directors anticipate that Nalunaq may enter into toll treatment arrangements with other potential gold mining activities in the region where appropriate. Angel Mining currently operates the only operational gold mine in the region and anticipates that its operation may be suitable for processing ore from other gold mining companies in the region in the future. 

Black Angel

The Black Angel project is a high grade zinc/lead project based around a previously developed mine in the north of Greenland.  The table below sets out the JORC Code compliant mineral resources estimate for the Black Angel project which includes three sets of zones within the mine and three satellite deposits which have been explored.

Summary of Black Angel Mineral Resources (JORC) as of 31 December 2007
	Category	Tonnage (kt)	Zinc  (%)	Lead  (%)	Silver (g/t)	Mineable reserves (kt)
Angel Zone	Indicated	791	13.0	4.5	25.0	218
Cover Zone	Indicated	522	8.3	2.4	18.0	231
Other zones within the Black Angel mine	Indicated	697	10.4	3.3	13.0	-
South Lakes Glacier	Indicated	1,726	6.9	2.5	14.5	-
Ark	Inferred	492	4.7	2.2	20.4	-
Nunngarut 2	Indicated	196	9.0	3.4	31.0	-
Nunngarut 2	Inferred	1	4.5	1.9	9.0	-
Total		4,425				449
Source: Wardell Armstrong International Ltd.

The project consists of three phases:

Phase I: Complete the rehabilitation of infrastructure to allow access to the mine, the mine camp and related facilities.

Phase II: Complete the detailed review of the pillar extraction programme within the Angel and Cover Zones, including the construction of the process plant and related systems to allow for the shipment of concentrate from the site.

Phase III: Develop a further exploration programme for the existing JORC resources at the Ark and Glacier deposits as well as identified mineralization at Deep Ice, Nunngarut and a number of other exploration targets within the license area (see the announcements made by the Company on 6 June 2006 titled "Black Angel 2006 Resource Statement" and on 30 November 2007 titled "Black Angel 2007 Resource Statement").

Dr Bob Dowdell is the qualified person that has reviewed and approved the technical information contained in this announcement.  Dr Dowdell holds a BSc and Doctorate in Mining Engineering from Newcastle University and is a Chartered Engineer and Member of the Institution of Mining and Metallurgy.