LONDON MINING - THIRD QUARTER 2008 RESULTS

2008 has proved to be an historic year for London Mining plc and the company is excited about its future. During this third quarter to 30 September 2008, the Group has completed several transformational deals in what has transpired to be an extremely difficult environment.

Q308 Highlights

• Record profit on sale of Brazilian operations (USD 664 million) - a 1200% return
• USD 330 million (GBP 219 million) return of cash to shareholders
• USD 310 million available to invest in our projects and new investments
• First steps to diversification: acquisition of quality coal assets
• Continued growth of our iron ore division:
  • Saudi strategic MOU signed with SAPIS, securing low cost financing for development
  • Extensive feasibility studies at Greenland and Saudi, results for Saudi expected Dec 08
  • Letter of intent signed with Wits Basin for potential Chinese investment
• Funding identified for all projects

This year is proving to be a monumental milestone in London Mining's relatively short history, and for the reasons stated above, we are very confident about the future.

Please see the full report for the Third quarter 2008 results and the presentation enclosed (or click on the links below if this release is received by e-mail).

For further information, please contact:

London Mining Plc
Christopher Brown, Managing Director                                                   +44 (0)20 7201 5000
Graeme Hossie, Corporate Development & Deputy Managing Director      +44 (0)20 7201 5000
Rachel Rhodes, Finance Director                                                           +44 (0)20 7201 5000

Crux Kommunikasjon AS
Charlotte Knudsen                                                                               +47 9756 1959

Notes to the Editors:

London Mining
London Mining is incorporated and registered in the UK, and is developing mines to supply the global steel industry. In 2007, London Mining raised over US$185m to advance iron ore production from its projects, and listed on the Oslo Axess, a marketplace regulated by the Oslo Stock Exchange on 9 October 2007. Following the sale of its Brazilian operations in August 2008 for over US$800m, the Company has mining, exploration and development projects located in Sierra Leone, Saudi Arabia, Greenland, Mexico and South Africa, and total iron ore resources of 1.3 billion tonnes containing an estimated 459Mt of iron. London Mining is trading 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.

Presentation of Third Quarter 2008

Third Quarter 2008 report