London, 2nd August 2007. London Mining is acquiring a 49% interest in Anglo Mexican Mining Ltd, which in turn owns 98% of the Artillero magnetite iron ore prospect near Manzanillo in Mexico. The purchasing price is US$400,000. London Mining has agreed to acquire 49% of BVI registered Anglo Mexican Mining Ltd for US$400,000 from S&K Contracts Ltd.. Anglo Mexican Mining Ltd. holds 98% of Compania Minera Suizo Mexicana, SA de CV ("CMSM") - owner of the rights to the El Artillero mine. US$172,500 of the purchase funds have already been used to acquire the deposit from Minera del Norte SA de CV ("Minera del Norte") and US$200,000 will be used to drill the Artillero deposit, complete an environmental impact assessment, and formulate a mining plan for approval by London Mining. If London Mining agrees to fund 100% of the mine's capital costs, 51% of this amount will be provided as a loan, with the balance as London Mining's equity contribution. If London Mining chooses not to fund 100% of the project, it will dilute its interest down to 5%. At this stage, the capital costs are not expected to exceed US$7 million. A production royalty of US$2.50/tonne will be payable to Minera del Norte, to adjust yearly according to the change in the CVRD price. The Artillero prospect is located 60km east of the port city Manzanillo (on the Pacific Coast), 5km northeast of the township Minatitlán, and 12km northeast of the operating Pena Colarado iron ore mine, in Colima State, Mexico. The Artillero magnetite deposit is exposed at surface and a typical sample assayed 64.90% Fe, 1.44% SiO2, 0.88% Al2O3, 0.22% CaO, 0.27% MgO, 0.077% P and 0.015% S. Part of the deposit has been surveyed by a handheld magnetometer every 20 metres, in an East-West profile over 540 metres and a North-South profile over 100 metres. All the magnetometer readings showed high responses (46,999 to 54,406 gammas), indicating the presence of magnetite. Environmental permits for a drilling programme have already been approved. Mr Christopher Brown, London Mining's Managing Director, said "The Artillero project contains high grade magnetite that could be crushed, ground and possibly dry magnetically concentrated to produce a marketable fines product. If a large enough resource is drilled up, a mining operation could be brought into production within a year, with iron ore delivered to the Panamax port of Manzanillo via 60 kilometres of existing paved roads using a trucking contractor. This deal allows our company to gain a foothold in Mexico, without distracting us from our operations in Brazil, Sierra Leone and Greenland." For further information, please contact: Crux Kommunikasjon AS Lars Erik Lund +47 41 33 13 69 London Mining Plc. Chris Brown, Managing Director +44 (0) 20 7495 6210 London Mining Plc. Graeme Hossie, Corporate Development & Deputy +44 (0) 20 7495 Managing Director 6210 Notes to the Editors: London Mining Plc is incorporated and registered in the UK, and is a UK-based iron ore mining company with assets in Brazil, Sierra Leone, Greenland and Mexico. The company has a diversified portfolio with existing production and significant planned expansion. London Mining's management and board of directors have extensive mining and finance experience. The company has already raised privately approximately USD 70 million in equity and an additional USD 60 million in debt and acquired an operating iron ore mine in Brazil in May 2007. Currently London Mining is registered on the Norwegian OTC list under the ticker LOND. The Company has engaged Norwegian-based Pareto Securities seeking to list its shares on the Oslo Stock Exchange in 2007. Please also visit our website www.londonmining.co.uk for more information about our company and our operations.