London Mining today announces the conclusion of a placing of existing
ordinary shares ("Ordinary Shares")  by its UK  brokers on behalf  of
long  term  shareholders,  subject  to  admission  of  the  Company's
Ordinary Shares to trading on AIM ("Admission"). The Ordinary  Shares
have been placed with UK based institutions who will be able to trade
through London's  AIM  market  (under the  ticker  LOND.L)  following
Admission.  Admission is expected to take place on 6 November 2009.

Passport  Global   Master  Fund   SPC   Ltd  and   Passport   Special
Opportunities  Master  Fund,   LP  (together,  "Passport"),   Caspian
Investments (BVI) Limited, Benbrack  Charkit Limited and  Naturaliste
Holdings Pty Ltd are  selling a total  of 37,239,225 Ordinary  Shares
pursuant to the placing, at GBP1.924 (NOK18) per Ordinary Share.  The
placing, conducted  by Liberum  Capital  Limited and  GMP  Securities
Europe LLP,  is  conditional  on,  amongst  other  things,  Admission
becoming effective.  The Company will  not receive any proceeds  from
the placing.  As announced  on 16  October 2009  the purpose  of  the
placing of these Ordinary  Shares is to increase  the free float  and
provide an appropriate level of liquidity in the London market.

Immediately following Admission,  Caspian Investments (BVI)  Limited,
Benbrack Charkit Limited  and Naturaliste Holdings  Pty Ltd will  own
18.32%, 4.56%  and 1.19%  of the  Ordinary Shares  respectively.  The
selling shareholders (other  than Passport, which  will not hold  any
Ordinary  Shares  following  Admission)  have  agreed  to   voluntary
lock-ins over their remaining  holdings in the  company for 6  months
(subject to certain  carve-outs). For  a further period  of 180  days
after the expiry of this period, the selling shareholders (other than
Passport) have agreed  to a customary  orderly market arrangement  in
respect of their remaining holdings.

On 21  October 2009  the Company  announced that  a letter  had  been
dispatched to shareholders providing details  of the impact that  the
proposed Admission will have  on settlement arrangements. The  letter
also provided  details of  the action  that holders  of interests  in
Ordinary Shares in VPS and registered holders of Ordinary Shares need
to take if they wish to  hold Ordinary Shares in dematerialised  form
in CREST. If  you are  a VPS shareholder  and you  have followed  the
procedures in sections 4(i) and 4(ii) of the letter to transfer  your
Ordinary Shares  into  CREST,  you should  now  instruct  your  CREST
account operator  to  input  the matching  criteria  referred  to  in
section 4(iii) of the letter by no later than noon (London time) on 5
November 2009. The trade date and  settlement date to be included  in
the matching criteria will be 6 November 2009.

A further announcement will be made  on the day London Mining  admits
to AIM.

Graeme Hossie, CEO of  London Mining said  "We are extremely  pleased
about the  quality of  the  new shareholders  we  have been  able  to
attract to our register. We  look forward to delivering our  projects
and  growing  London  Mining  into  a  significant  mid-tier   mining
company."


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

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

GMP Securities Europe  (Broker)
Jeremy Wrathall                             +44 20 7647 2800

Crux Kommunikasjon AS (Norway media)
Charlotte Knudsen                            +47 97 56 19 59

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


Disclaimer
The Company is not offering any new Ordinary Shares or any other
securities in connection with the proposed Admission. The Ordinary
Shares have not been nor will they be, registered under the US
Securities Act of 1933, as amended, or with any securities regulatory
authority of any state or other jurisdiction of the United States or
under the applicable securities laws of Australia, Canada, Japan,
South Africa or the Republic of Ireland. Subject to certain
exceptions, the Ordinary Shares may not be offered or sold in the
United States, Australia, Canada, Japan, South Africa or the Republic
of Ireland or to or for the account or benefit of any national,
resident or citizen of Australia, Canada, Japan, South Africa or the
Republic of Ireland or any person located in the United States.

This announcement does not constitute an offer of, or the
solicitation of an offer to subscribe for or buy, any Ordinary Shares
to any person in any jurisdiction to whom it is unlawful to make such
offer or solicitation in such jurisdiction and is not for
distribution in, or into, the United States, Australia, Canada,
Japan, South Africa or the Republic of Ireland. The distribution of
this announcement in other jurisdictions may be restricted by law and
therefore persons into whose possession this announcement comes
should inform themselves of and observe such restrictions.

Liberum Capital Limited ("Liberum") is regulated by the Financial
Services Authority and is acting exclusively for the Company and for
no one else in connection with the proposed placing  of existing
Ordinary Shares (the  "Placing") and Admission. Liberum will not be
responsible to anyone other than the Company for providing the
protections afforded to customers of Liberum or for advising any
other person on the contents of this announcement or the Placing and
Admission. The responsibility of Liberum as nominated adviser and
joint broker to the Company is owed solely to the London Stock
Exchange and is not owed to the Company or the Directors or any other
person. No representation or warranty, express or implied, is made by
Liberum as to the contents of this announcement. No liability
whatsoever is accepted by Liberum for the accuracy of any information
or opinions contained in this announcement or for the omission of any
material information for which it is not responsible.

GMP Securities Europe LLP ("GMP") is regulated by the Financial
Services Authority and is acting exclusively for the Company (as
joint broker) and for no one else in connection with the Placing and
Admission. GMP will not be responsible to anyone other than the
Company for providing the protections afforded to customers of GMP or
for advising any other person on the contents of this announcement or
the Placing and Admission. The responsibility of GMP as joint broker
to the Company is owed solely to the London Stock Exchange and is not
owed to the Company or the Directors or any other person. No
representation or warranty, express or implied, is made by GMP as to
the contents of this announcement. No liability whatsoever is
accepted by GMP for the accuracy of any information or opinions
contained in this announcement or for the omission of any material
information for which it is not responsible.

This announcement, including information included or incorporated by
reference in this announcement, may contain 'forward-looking
statements'.  Generally, the words 'will', 'may', 'should', 'could',
'would', 'can', 'continue', 'opportunity', 'believes', 'expects',
'intends', 'anticipates', 'estimates' or similar expressions identify
forward-looking statements.  The forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements.
Many of these risks and uncertainties relate to factors that are
beyond the Company's ability to control or estimate precisely, such
as future market conditions and the behaviours of other market
participants, and therefore undue reliance should not be placed on
such statements.  London Mining assumes no obligation and does not
intend to update these forward-looking statements, except as required
pursuant to applicable law or regulation.

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