15 November 2006                                                                                             LSE: AYM

Continuing success with near surface drilling at Parys Mountain

·         Eight holes now completed on White Rock Zone

·         Zone continuous between surface and 280 metre level

·         Four holes completed on the Upper Engine Zone

·         Mineralization continues for 150 metres above 280 metre level

·         Early underground access and mining planned from these areas

·         A new third zone of mineralization identified

Anglesey Mining plc is pleased to report that twelve holes have now been completed in the 2006 drilling programme adjacent to the Morris Shaft at its Parys Mountain project in North Wales, eight on the White Rock Zone and four on the Upper Engine Zone.  The White Rock drilling confirms continuation of the White Rock Zone through to surface, with one intersection of over 68 metres.  The drilling of the Upper Engine Zone has demonstrated mineralization to 150 metres above the 280 metre level including base metal intersections of 11.3% and 16.1%.  A new third zone of mineralization has been identified within the Penymynydd Fault Zone which separates the White Rock and Engine Zones including a narrow intersection of over 40% base metal. 

 “These latest results and the subsequent interpretation of the geology of the relevant zones confirm our confidence in the ability for Parys Mountain Mine to become a significant producer in a short time frame.  This recent drilling on White Rock and the Upper Engine Zone represents a change of emphasis from prior drilling which demonstrated the long term potential of the property” said Bill Hooley, Executive Director of Anglesey Mining.  “With these latest results to hand, we are now able to move into the next phase of the project which will involve detailed mine access and stope planning ahead of the commencement of underground mining from these relatively shallow zones.”

Assay results have now been returned for nine holes.  Two holes (WD6 & CZ12) were located on the fringes of the ore-bodies and were not sent for assay.  Assay results are still awaited from one hole (CZ13).  Drilling currently continues on one further hole (WD9) in the White Rock Zone.

The principal assay results obtained from holes not previously reported are as follows: 

White Rock

The White Rock Zone was originally identified during the underground development programme in 1990.  A large part of the zone was located near the 280 metre level driven from the Morris Shaft and the current drilling programme was designed to explore the upward continuity of this zone towards the surface which had only been partially identified from earlier drilling.  The indicated resource estimate on the White Rock Zone calculated in 1990 was:

840,000 tonnes at 0.49% Cu, 3.44% Pb, 6.84% Zn, 42ppm Ag, and 0.45ppm Au.

The current round of drilling has confirmed that two separate and parallel lens systems exist in the White Rock Zone.  These have been designated the Main Lens and the Upper Lens.  In practise the Upper Lens probably consists of a series of not totally continuous lenses.

The longitudinal sections below show the distribution of mineralization within the Main Lens and Upper Lenses of the White Rock Zone (click on image for a larger version in a new window).  The principal underground level in the mine is located at the 280 metre elevation.

The red outline indicates the high grade core of the zone and the green outline indicates a peripheral zone that is often significantly wider than the core but at a lower grade.  To the south the mineralization is terminated by faulting and to the north the limit to economic mineralization is an assay cut-off.

Click on image for a larger version in a new window.

The following tables show the complete range of holes drilled into the White Rock Zone above the 150 metre level.

Summary of drill hole intersections within the near surface White Rock Zone