COMMENT FROM LONDON MINING ON CASPIAN INVESTMENTS' ACQUISITION OF SIGNIFICANT HOLDING

London, 6th December 2007. Caspian Investments BVI announced yesterday on the Oslo Stock Exchange that it had acquired 24,422,600 shares or 24.86% of the issued shares in London Mining Plc.

The board of London Mining has not received any communication from Caspian Investments BVI so far and London Mining has yet to learn who the beneficial holders of Caspian Holdings BVI are.

London Mining does not know whether the share acquisition by Caspian Investments BVI will lead to a formal bid for the company.

Pareto Securities has declared it is acting for Caspian Holdings and that they have a conflict of interest with London Mining.

The board of London Mining advises that shareholders should take appropriate advice in relation to selling any of their shares until Caspian's intentions are clarified.

For more information, please contact:

London Mining Plc
Chris Brown
Managing Director 
+44(0) 20 7495 6210

Graeme Hossie,
Corporate Development & Deputy Managing Director 
+44 (0) 20 7495 6210

About London Mining Plc
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 125 million in equity and an additional USD 60 million in debt and acquired an operating iron ore mine in Brazil in May 2007.

London Mining is listed at the Oslo Axess list of Oslo Stock Exchange, under the symbol LOND.

Please also visit our website www.londonmining.co.uk for more information about our company and our operations.

Comment from London Mining on Caspian Investment's acquisition of significant holding (PDF)