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Update on Berong Nickel Operation



2009-11-11 11:34:01 -


London, November , 11, 2009 
Toledo Mining Corporation PLC



Toledo Mining Corporation plc ("Toledo" or the "Company") (AIM:TMC)

wishes to advise that Berong Nickel Corporation ("BNC"), the

Philippine registered company in which Toledo has a 56.1% economic

interest, has received notice from Queensland Nickel Pty Ltd ("QNP")

to terminate the contract between the companies whereby QNP is

required to purchase a minimum of 300,000 wet metric tonnes ("WMT")

of nickel laterite ore per annum from BNC until mid-2012 . The other

shareholders of BNC are Atlas Consolidated Mining and Development

Corporation and European Nickel plc.



BNC disputes the notice of termination and has instructed its legal

advisors to consider all available remedies.



The Berong mine is not immediately affected economically by this

notice as the mine is currently on care and maintenance and the

annual shipping window is now closed until March 2010 due to sea

conditions.



BNC and its sales agents continue to be in negotiation for ore sales

to Chinese and other nickel ore consumers.



For further information, please visit www.toledomining.com or

contact:



Reg Eccles, Chairman, Toledo Mining +44 (0) 20 7514 1480

Richard Greenfield, Ambrian Partners +44 (0) 20 7634 4700

Alex Buck, BuckBias +44 (0) 7932 740 452



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