MINING INVESTMENTS RESOURCES PLC

Company number 03744133.

("MIR" or the "Company")

Interim Report for the six months ended 31 December 2013

Chairman's review

Dear Shareholders,

The six month period to 31 December 2013 was one of implementation of the Company's strategy to make investments in mining companies in Russia.  As a result of these efforts, post period end MIR entered into a preliminary agreement (the "Agreement") which provides it with a legally binding option to invest in a project to rehabilitate the Taezhny Silver Mine in the Primorsky region of Russia.  Under the Agreement MIR has undertaken to carry out a detailed sampling program including sampling of the tailings at Taezhny and metallurgical test work of the tailings and main ore body.  The detailed tailings sampling program which included 21 drill holes has been carried out and assaying and metallurgical testing will commence shortly.  As announced previously MIR believes that the Taezhny mine provides an opportunity to place a high grade silver deposit with potentially re-treatable tailings back into production as the processing facilities and infrastructure are largely in place.

Primorsky Silver Project

The Taezhny Silver Mine was the first silver mine in the region to be placed into production during the Soviet times and is one of a large number of silver and gold discoveries contained within the Primorsky Silver belt.  The transaction to rehabilitate the Taezhny Silver Mine is accompanied by three exploration licences with identified exploration targets and thereby provides a strategic entry into the Primorsky silver belt which MIR believes will provide many opportunities.

The Agreement enables the Company to conduct further due diligence and reduce technical  risk by undertaking additional metallurgical testing and sampling of the existing tailings at the mine (the "Tests"), prior to committing to the project rehabilitation (the "Main Transaction").  If the results of the Tests are positive then it is envisaged that MIR will proceed with the Main Transaction, subject to raising the necessary funds.  The Main Transaction involves MIR investing up to US$10 million in consideration for a controlling shareholding of 60 per cent of a new holding company ("HoldCo") that will own the project.  The remaining 40 per cent of HoldCo will be owned by Ruspacific Group LLC ("Ruspacific"), the current majority owner of the Taezhny mine.

Since entering into the Agreement, MIR has undertaken a programme of sampling of the tailings pond including the drilling of 21 drill holes.  The samples from the tailing drill holes and additional samples from the underground ore body of the mine will be assayed and metallurgical tests carried out.  The total cost of the programme is expected to be around US$200,000.

Strategic Alliance with Artel Vostok

The Company's strategy has also resulted in MIR entering into a Strategic Alliance Agreement with Artel Vostok, a company which is one of the main gold alluvial mining companies in the northern region of Khabarovsk.  Artel Vosotk has applied for an exploration licence for one of the areas surrounding its alluvial gold rivers which is believed to contain substantial gold resources which are the source of gold for the rivers.

Russian Investment Outlook

At the current time, there is uncertainty created by the political situation between Russia and Ukraine.  To date the situation has not affected the mining industry in the Russian Far East, except to the extent that the rouble has fallen around 10% since January which we believe should decrease costs. The board continues to monitor the situation and assess the impact this may have on any investment decision in the region.

Financial results for the six months ended 31 December 2013

The financial results for 6 months ended 31 December 2013 resulted in a loss of £276,000.  Of this, £45,000 was lost due to the fall in MIR's investment portfolio, in line with the general fall in junior mining company stocks. At the period end, short term quoted investments still held showed a market value of £240,000. At the period end the Company had cash of £179,000 which, as at today's date has reduced to £75,000.

Trading in the shares of the Company on AIM remain suspending pending the publication of an Admission Document in respect of the proposed acquisition of the Taezhny Silver Mine or until such time as the Company decides not to proceed with the transaction.

On behalf of the Board

Michael Nosworthy

28 March 2014

Enquiries:

Michael Nosworthy Mining Investments Resources plc +33 675657274
Steve Roberts Mining Investments Resources plc 07812043436
Luke Cairns / Matthew Johnson Northland Capital Partners Limited

(Nomad and Joint Broker)

020 7382 1100
Peter Greensmith / Eran Zucker Peterhouse Corporate Finance Limited

(Joint Broker)

020 7469 0932

The Interim Report for the six month period ended 31 December 2013 (the "2013 Interim Report") set out below will be available from today on MIR's web site: www.mirplc.com

Unaudited consolidated statement of comprehensive income

for the 6 month period ended 31 December 2013

6 months 6 months Year ended Year ended
31-Dec-13 31-Dec-12 30-Jun-13 30-Jun-12
Unaudited Unaudited Audited Audited
Notes £000′s £000′s £000′s £000′s
Trading Revenue 3 7 11 0
Realised gains on short term investments 0 74 117
Total Revenue 3 81 129 0
Cost of sales- Project Costs -12 0 -141 -
Gross (loss) / profit -9 81 -12 0
Admin expenses -223 -148 -356 -634
Operating (loss)/profit -232 -67 -368 -634
Interest receivable 0
Pre-tax result for the period -232 -67 -368 -634
Taxation 3 - - - -
Net result for the period -232 -67 -368 -634
Other Comprehensive income
Unrealised losses / gains on investments -45 17 -100
Total Comprehensive income for the period -276 -50 -468 -634
(Loss)/earnings per share
  - basic 4 (00.19p) (0.12p) (00.60p) (11.48p)
- diluted 4 (00.19p) (0.09p) (00.60p) (11.48p)

Unaudited consolidated balance sheet

as at 31 December 2013

notes Year ended 6 months Year ended Year ended
31-Dec-13 31-Dec-12 30-Jun-13 30-Jun-12
Unaudited Unaudited Audited Audited
£000′s £000′s £000′s £000′s
ASSETS
Non-current assets 0 0 0 0
 Loans and receivables 0
Quoted investments for resale 240 349
Trade and other receivables 2 2
Cash and cash equivalents 179 247 20 20
Total assets 422 598 20 20
EQUITY
Capital and reserves attributable to the Company's equity holders
Share capital 3767 3267 2,539 2,539
Share premium account 7633 7633 7,633 7,633
Retained earnings -11191 -10474 -10,335 -10,335
Total equity 209 426 -163 -163
LIABILITIES
Current liabilities
Trade and other payables 212 173 183 183
Non-current liabilities
Trade and other payables
Total liabilities 212 173 183 183
Total equity and liabilities 422 598 20 20
Michael Nosworthy Steven Roberts
Director Director

Company No: 03744133

Unaudited consolidated cash flow statement

for the year ended 30 June 2013

6 months 6 months Year ended Year ended
31-Dec-13 31-Dec-12 30-Jun-13 30-Jun-12
Unaudited Unaudited Audited Audited
£000′s £000′s £000′s £000′s
Operating activities
Result for period / year before tax -276 -50 -468 -634
Impairment of assets 45 -17 100 454
Net (Gains) /Losses on disposal of investments 0 -74 -117
Decrease /( Increase) in trade and other receivables 10 -2 -13 331
Increase  / (Decrease) in trade and other payables -2 -47 32 14
Interest accrued on financial assets 0 0 0
Expenses settled through issue of equity 0 37 37
Net cash inflow from operating activities -224 -153 -429 165
Investing activities
Purchase of listed investments 0 -673 -709 -173
Proceeds of sale of listed investments 0 414 592
Net cash outflow from investing activities 0 -258 -117 -173
Financing activities
Shares issued 0 728 1041 0
Share issue costs 0 -89 -111 0
Net cash inflow from financing activities 0 639 929 0
Net (decrease)/increase in cash and cash equivalents -224 227 383 -8
Cash and cash equivalents, beginning of  period 403 20 20 28
Cash and cash equivalents, end of period 179 247 403 20

Unaudited consolidated statement of changes in equity

for the period ended 31 December 201

Share Share Profit & Total
capital premium loss equity
£000′s £000′s £000′s £000′s
Balance as at 30 June 2011 2539 7633 -9701 471
Loss for the period - - -201 -201
 Total comprehensive income for the period 0 0 -201 -201
Balance as at 31 December 2011 2539 7633 -9902 270
Loss for the period - - -433 -433
Total comprehensive income for the period 0 0 -433 -433
Balance as at 30 June 2012 2539 7633 -10335 -163
Shares issued 728 0 -89 639
Transactions with owners 728 0 -89 639
Loss for the period - - -50 -50
 Total comprehensive income for the period 0 0 -50 -50
Balance as at 31 December 2012 3267 7633 -10474 425
Shares issued 500 0 -22 478
Transactions with owners 500 0 -22 478
Loss for the period - - -418 -418
 Total comprehensive income for the period 0 0 -418 -418
Balance as at 30 June 2013 3767 7633 -10914 485
Shares issued 0 0 0 0
Transactions with owners 0 0 0 0
Loss for the period - - -276 -276
 Total comprehensive income for the period 0 0 -276 -276
Balance as at 30 June 2013 3767 7633 -11191 209

Notes to the consolidated unaudited financial statements

for the period ended 31 December 2013

1 General information

Mining Investments Resources plc is a public limited company incorporated and domiciled in the United Kingdom. The address of the registered office is Bridge House, London Bridge, London SE1 9QR. The shares of Mining Investments Resources plc are listed on the AIM Market of the London Stock Exchange. Mining Investments Resources plc has a subsidiary company Lagan Capital Investments Limited, incorporated in the Republic of Ireland, which has not traded to date and together these entities comprise the Group.

2 Summary of significant accounting policies

2.1 Basis of preparation

The unaudited interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) and on the same basis and using the same accounting policies as used in the audited financial statements for the year ended 30 June 2013. The information set out in these interim financial statements does not constitute statutory accounts as defined in Section 435 of the Companies Act 2006. The figures for the year ended 30 June 2013 have been extracted from the statutory financial statements which have been filed with the Registrar of Companies. The auditors' report on those financial statements was unmodified. The board approved the interim report on 28 March 2014.

2.2 Segment reporting

The Board monitors performance on a unitary basis comprising only one segment. Consequently there is no further segmental analysis available for disclosure.

3. Taxation

No provision for taxation has been made due to the availability of losses

4.  Earnings per share

Basic

Basic earnings per share is calculated by dividing the profit attributable to equity holders of MIR by the weighted average number of Ordinary Shares in issue during the year.

6 months 6 months Year ended Year ended
31-Dec-13 31-Dec-12 30-Jun-13 30-Jun-12
Unaudited Unaudited Audited Audited
(Loss)/profit attributable to equity -232 -67 -368 -634
  holders of MIR £000′s
Weighted average number of 128,281,120 54,554,505 59,733,535 5,519,500
  Ordinary Shares in issue
Basic 128,281,120 78,281,120 128,281,120 5,519,500
Dilutive effect of outstanding options 44,537,059 44,537,059 44,537,059 0
172,818,179 122,818,179 172,818,179 5,519,500
Diluted earnings/(loss) per share:
Basic and diluted (00.19p)   (00.12p) (00.60p) (11.48p)
distributed by