ANGM Angel Mining

TIDMANGM

RNS Number : 7650T

Angel Mining PLC

12 December 2011

ANGEL MINING PLC

("Angel Mining" or the "Company")

   AIM:   ANGM 

7th GOLD POUR - 23% INCREASE OVER PREVIOUS BEST

The Board of Angel Mining, the Greenland-focused mining and exploration company, is pleased to announce that a further 15.4 kilograms (496 ounces) of gold dore was successfully poured at Nalunaq on Monday 6(th) December. This was shipped to Switzerland on Wednesday 8(th) December for refining and subsequent sale.

Since the first pour on 27 May 2010, the Company has poured 89.6 kilograms of gold dore. The table below sets out the Company's gold production to date.

 
 Month                Kilograms   Troy ounces 
 May                        0.9            30 
 June                       1.3            41 
 July                       6.0           192 
 August                    12.3           394 
 September                 21.8           701 
 October                   10.4           335 
 November                  21.6           693 
 December (to 6/12 
  only)                    15.4           496 
 Total                     89.6         2,881 
 

The Company is building up its production towards a target of between 1,500 and 2,000 ounces per month, which it hopes to achieve in early 2012.

This recent pour was the largest to date and an increase of 23% over the last pour announced on 28 November 2011.

Nicholas Hall, CEO of Angel Mining, commented: "The growing level of gold dore production is translating into sufficient cash to meet all our operating costs and corporate overheads. To reach our cash breakeven point is a significant milestone for the Company. As production increases towards our target, this cash generation will continue to improve as well."

Enquiries:

 
 Angel Mining plc 
  Nicholas Hall, Chief Executive Officer     07931 709 053 
  Kevin McNair, Chief Financial Officer       07900 690 908 
 Fox-Davies Capital (Broker and Nominated 
  Adviser) 
  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

END

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