FINAL PARLIAMENTARY APPROVAL RECEIVED FOR MARAMPA, SIERRA LEONE

• Final parliamentary approvals received for the Marampa Project, Sierra Leone
• Long lead items to be secured for 1.5Mtpa tailings starter operation
• Full development to commence immediately
• Full operations review to be released on 25 February 2010; preliminary annual results scheduled for release on 18 March 2010.

London Mining (“the Company”) today announces that it has received the final parliamentary approvals relating to: fiscal incentives; proposed mine and logistics plan; and environmental permitting for the Marampa licence area (incorporating both tailings and primary ore) and is now commencing with full development of the project.

The Marampa Project is located 120km from Freetown in Sierra Leone and is 100% owned and operated by London Mining through its Sierra Leone subsidiary London Mining Company Ltd. London Mining is developing a tailings reprocessing operation and is defining the main primary resource to constrain the parameters of an enlarged operation with steady state capacity of 5-8Mtpa.

The Marampa Project fiscal incentives package; mining and logistics plan; and environmental permitting have now been ratified by the Sierra Leone parliament.  This is the first comprehensive mining agreement to have been passed in accordance with the new Mines and Minerals Act, which was approved by the Sierra Leone Parliament on 30 December 2009, and received cross-party support from both the government and opposition.

London Mining is commencing with full development of its 1.5Mtpa tailings starter operation for an initial capital cost of USD80m (including working capital and contingency) and will now work to secure the main long lead items including the wet high intensity magnetic separation (WHIMS) plant, barges and floating cranes. The Company plans to give a full update on Marampa in its operational review on 25 February with its preliminary annual results now scheduled for release on or around 18 March 2010. An updated financial calendar for 2010 is attached as Appendix I to this announcement.

Graeme Hossie, CEO of London Mining plc, said, “Today’s announcement represents a major step forward for London Mining. The cross-party support we received for the incentives package is deeply encouraging for a continuing, long term relationship between London Mining and Sierra Leone. We now look forward to commencing development of the starter operation for the tailings as well as continuing our work on an expanded operation through development of the primary ore to reached a targeted 5-8Mtpa of production by the end of 2013. The Marampa mine exemplifies LM's strategy: using simple and deliverable logistics to reach the market, Marampa is being fast tracked into production to achieve near term cash flow and will then be expanded to significant scale.  We are the first mining company in Sierra Leone to have its Mining Agreement approved by Cabinet and ratified by the Sierra Leone parliament under the new mining act and we will be implementing our construction and production plans immediately.”

Please see the full announcement, including an updated financial calendar and Glossary of technical terms enclosed.

For more information, please contact:
 
London Mining Plc
Graeme Hossie, Chief Executive Officer     +44 20 7201 5000   
Rachel Rhodes, Finance Director
Thomas Credland, Head of Investor Relations

Liberum Capital (Nominated Advisor/Broker)
Clayton Bush/Ellen Francis     +44 20 3100 2000   

Crux Kommunikasjon AS
Charlotte Knudsen     +47 97 56 19 59   

Threadneedle Communication (UK)
Laurence Read/ Graham Herring     +44 20 7653 9850   

The Company's website can be found at www.londonmining.co.uk.

About London Mining

London Mining is focused on identifying, developing and operating scaleable mines to become a mid-tier supplier to the global steel industry. Its four principal assets in Sierra Leone, Saudi Arabia, Greenland and China all have deliverable production with potential for expansion. The Company listed on the Oslo Axess on 9 October 2007 and on AIM in London on 6 November 2009. It trades under the symbols LOND.L and LOND.NO (Reuters) and LOND LN and LOND NO (Bloomberg).

FINAL PARLIAMENTARY APPROVAL RECEIVED FOR MARAMPA, SIERRA LEONE