TOLEDO MINING : APPOINTS NEW DIRECTOR

7 July 2009

                 TOLEDO MINING APPOINTS NEW DIRECTOR

Toledo Mining Corporation plc  ("Toledo" or the "Company")  (AIM:TMC)
is pleased to announce the appointment of Mr Jason Ann Minn Cheng  as
a Non Executive Director of the Company.

Mr Cheng  (aged  37)  is  a  director  and  shareholder  of  Daintree
Resources Limited  ("Daintree"),  a  private  company  registered  in
British Virgin Islands,  which is jointly  owned by Mr  Cheng and  an
associate of Mr  Cheng. Daintree currently  holds 5,912,250  ordinary
Toledo shares ("Shares"), representing  approximately 20.0 per  cent.
of the Company's issued share capital. As separately announced today,
pursuant to a conditional placing  letter, Daintree has committed  to
subscribe for a  further 4,060,000  Shares as  part of  a placing  to
raise  approximately  £3.4  million   for  the  Company.    Following
completion of the proposed placing, for which shareholder approval is
to be sought at  a general meeting  of the Company  on 31 July  2009,
Daintree would hold  9,997,250 Shares  representing approximately  24
per cent. of the Company's enlarged issued share capital.

Mr Cheng is based in Hong Kong and is the Managing Partner of  Ancora
Capital Management Limited  ("Ancora"), a private  equity firm  which
invests in the natural resources sector in Asia.

Previously,  Mr  Cheng  has  worked  in  investment  banking  in  the
resources  sector  at  Schroders,  Ord  Minnett  and  JP  Morgan   in
Australia,  and  was  also  based  in  Beijing,  China,   undertaking
investment and  advisory  activities at  Jade  International  Capital
Partners.

Born and educated in Australia, Mr Cheng holds a Bachelor of Commerce
from Melbourne  University  and a  Masters  of Commerce  from  Sydney
University.

The Board  of Toledo  believe  that Mr  Cheng's business  acumen  and
experience will make a significant contribution to the development of
Toledo and are pleased to welcome Mr Cheng to the Board.

Details of companies and  partnerships of which Mr  Cheng has been  a
director or partner in the last five years is set out below:


Current Directorships

Ancora Capital Management Limited
Ancora Capital Management (Asia) Limited
Ancora General Partner Limited
Daintree Resources Limited
Jade International Capital Partners Limited
Jade International Group Pty Ltd
Jade Property Holdings Limited
Kerry Investment 888 Pty Ltd

Past Directorships

British American Eastern Beijing Ltd


As a  result  of his  role  as  Managing Partner  of  Ancora  Capital
Management Limited, Mr Cheng  is also a  director of various  special
purpose vehicle  companies established  for  the purpose  of  holding
Ancora's interest in various investee companies whereby Mr Cheng acts
in that capacity under the direction  and control of the Ancora  fund
manager, Ancora Capital Management Limited, and ultimately the fund's
general partner, Ancora General  Partner Limited. A  full list of  Mr
Cheng's directorships will be available to shareholders upon  written
request.

There is  no  further information  to  disclose in  relation  to  the
appointment of Mr Cheng pursuant to Schedule 2, paragraph (g) of  the
AIM Rules for Companies.

For further information, contact:


Reg Eccles, Chairman, Toledo Mining Corporation  [phone]
plc
Richard Brown, Richard Greenfield, Ambrian       [phone]
Partners Limited

Alex Buck, BuckBias Limited                      [phone]

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