RESOURCE FOR ISUA PROJECT, GREENLAND

Highlights

• Total resource for Isua Project of 951Mt grading 36% at a 20% Fe cut-off grade reported within a new optimised pit shell comprising:
• 114 Mt of Indicated Resource grading 37% Fe
• 837 Mt of Inferred Resource grading 36% Fe

London Mining, the UK based developer of mines to supply the global steel industry, today announces that Snowden Mining Industry Consultants (“Snowden”) has confirmed an Indicated Resource of 114 Mt and Inferred Resource of 837 Mt for its Isua Project in Greenland. Resources have been reported using the guidelines of the JORC Code (JORC, 2004), based on a cut-off of 20% Fe.

Isua is located 150km Northeast of Nuuk and is 100% owned by London Mining Plc and operated through London Mining Greenland A/S. Isua is one of London Mining’s four principal iron ore projects together with Marampa, Sierra Leone; Wadi Sawawin, Saudi Arabia; and the CGMR joint venture in China.

Further to the Mineral Resource of 574 Mt at 37% Fe reported in December 2009, today’s announcement considers parts of the Isua ore body that could potentially be mined within an expanded pit shell. This pit shell has been generated by SNC Lavalin using appropriate cost and processing parameters reflecting the proposed scale of the Isua Project. London Mining plans additional infill and extensional drilling at Isua in 2010 and expects a revised prefeasibility study in Q2 2010.

London Mining completed a programme of Davis Tube testwork on 100 drill core samples from Isua. The bulk of the samples (91) were sourced from within a pit shell which approximates the first 5 years of production from Isua and are presented in the table below. The testwork confirms that the Isua BIF resource can produce a high grade Fe concentrate using magnetic separation. A further flotation stage may be used to obtain the final product specification with reduced impurities and increased Fe content.

Average Davis Tube results from within initial 5 year pit shell

Michael Andrew, Divisional Manager Applied Geosciences of Snowden Mining Industry Consultants, BSc, MAUSIMM, and who meets the criteria of a qualified person under the AIM Rules - Guidance for Mining, Oil and Gas Companies, has reviewed and approved the technical information contained within this announcement. This document has also been reviewed by Ghislain Prevost, Principle Mining Engineer, P. Eng., M.A.Sc., Mining and Metallurgy Division of SNC Lavalin.

Isua open pit resource as at March 2010, reported at a 20 % Fe cut-off

Graeme Hossie, CEO of London Mining plc, said, "The delineation of additional resources at Isua for a total of 951Mt is a further step towards defining the technical parameters and potential of the project. Isua is ideally equipped to take advantage of the growing seaborne iron ore market by virtue of its substantial size, premium grade product and close proximity to a section of the Greenland coast that permits year round shipping. We look forward to reporting on the results of the 10Mtpa pre-feasibility study for Isua in Q2 2010”.

The full announcement, including a Glossary of technical terms, is attached and can also be found at www.londonmining.co.uk.

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   

Brunswick Group 
Carole Cable/ Daniel Thole    +44 20 7404 5959   

Crux Kommunikasjon AS
Charlotte Knudsen     +47 97 56 19 59   

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).

RESOURCE FOR ISUA PROJECT, GREENLAND