LONDON MINING PLC - FOURTH QUARTER 2007 OPERATIONS REPORT

HIGHLIGHTS

• Asset addition - Saudi Arabia iron ore JV - 50:50 Joint Venture on the Wadi Sawawin iron ore project near the west coast of Saudi Arabia. Resources total 411.9mt with an average grade of 42% Fe and 28%SiO2.
• Scoping Study underway

Brazil

• Production of lump ore "granulado" reached 133,921t for Q407 (up 31.3% from previous year) and 435,942t for the calendar year 2007 (up 33.3% from 2006). Granulado prices for Q407 also increased 23.5% from Q406.
• Construction of sinter feed plant over 50% completed.

Sierra Leone

• New Managing Director, Manoj Dosi, appointed to Sierra Leone subsidiary.
• Work is underway to repair the roads between Lunsar and Marampa and to repair the railway bridge at Pepel.
• Resource definition drilling has commenced on the tailings deposit at Marampa

Greenland

• Wardell Armstrong appointed to review the Isua Project. 

Mexico

• Exploration drilling of El Artillero completed and mine plan expected Q2 2008.

Corporate

• Kaupthing Singer and Friedlander Ltd appointed advisers and market maker to the Company
• Caspian Investments BVI ("Caspian") acquires 29.2% holding (29,159,550 ordinary shares)
• Passport Capital increases holding to 8.9% (9,307,497 ordinary shares).
• Pioneer Iron & Steel, long term off-take partner, increases holding to 7.0% (7,000,000 ordinary shares).

Commenting today Chris Brown, Managing Director of London Mining, said:
"Our JV partnership with the National Mining Company of Saudi Arabia to develop the Wadi Sawawin project was an exciting addition to London Mining's asset portfolio during the quarter. The Wadi Sawawin project has the benefits of strong regional markets and port access within 60km nearby port access and we are currently engaged in a scoping study in order to fast-track production.  I am also very pleased to report that we are half-way to completing the Sinter feed plant in Brazil which is on target to begin shipments to off-take partners Suns Trading and Pioneer Iron and Steel during Q3 of this year. The outlook for the quarter is very positive as we continue to develop our global iron ore production base."

For further information, please contact:

London Mining Plc
Christopher Brown, Managing Director
+44 (0) 20 7495 6210
Graeme Hossie, Corporate Development & Deputy Managing Director
+44 (0) 20 7495 6210
 
Press enquiries
 
Crux Kommunikasjon AS (Norway)
Charlotte Knudsen
+47 97 56 19 59
 
Threadneedle Communications (UK)
Laurence Read/Graham Herring
+44 (0)20 7936 9696
+44 (0)7979 955 923

About London Mining Plc
Incorporated and registered in the UK, London Mining is developing mines to supply the global steel industry.  The Company has operational mining, exploration and development projects located in Brazil, Sierra Leone, Greenland and Mexico. In 2007, London Mining raised over US$125million in equity and US$60m in debt to finance development and expansion of its operations to meet the demand of world steel consumption.
Core near term objectives:

• Ramping up production to over 5mtpa from its operating itabirite iron ore mine in Brazil
• Bringing into production a previously mined specular hematite iron ore operation in Sierra Leone
• Completing feasibility studies on the Wadi Sawawin project under a joint venture with the National Mining Company of Saudi Arabia
• Completing feasibility studies on a major magnetite iron ore deposit in Greenland
• Continuing exploration under a 49% JV on an exploration magnetite deposit in Mexico.

On 9 October 2007, London Mining listed on the Axess market of the Oslo Stock Exchange www.osloaxess.no and trades under the Reuters symbol LOND.OL and Bloomberg symbol LOND.NO.  Please also visit our website www.londonmining.co.uk for more information about London Mining and its operations.

December 2007 Quarterly Operations Report