*          CPR released today on the Company's four principal iron
  ore assets: Key development milestones of principal assets fully
  funded
*          AIM listing on track

AIM listing
As announced  on  13  July  2009, the  Company  intends  to  seek  an
admission of  its ordinary  shares  to trading  on  AIM (as  well  as
maintaining its listing on the Oslo  Axess market of the Oslo  Børs).
The Company is proposing to list on AIM to benefit from the  presence
of established mining sector research coverage in London and improved
access to global investors. The  listing process is progressing  well
and the Company has appointed Liberum Capital Limited as its proposed
nominated adviser and joint broker  along with GMP Securities  Europe
LLP as  joint broker.  Admission to  AIM is  expected to  take  place
before the end of the year.

Release of Competent Person's Report
A copy of the Competent Person's Report prepared by Wardell Armstrong
International in conjunction  with the  proposed AIM  listing is  now
available on the Company's website.

Update on assets
London Mining  is focused  on identifying,  developing and  operating
scaleable mines to  become a  mid-tier supplier to  the global  steel
industry. The Group  focuses its activities  on deliverable iron  ore
projects, where the key features are scaleable production,  financing
opportunities and a clear route to market. The Company was founded in
2005 and is  based in London.  It currently has  investments in  four
major iron ore  projects: Sierra Leone;  Saudi Arabia; Greenland  and
China. The  Company  is  currently  undertaking  resource  definition
programmes to  ensure that  all  of its  principal assets  will  have
resources to JORC standard. An  upgrade of Marampa tailings and  Wadi
Sawawin resources to JORC standards is expected before the end of the
year and an  upgrade of Marampa  primary ore and  China resources  to
JORC standard is expected within 9 months.

The Directors believe that the total iron ore concentrate production
capacity of the Group's four principal projects (on a 100% basis) has
the potential to rise from 0.4Mtpa in 2009 to 14 Mtpa in 2014 and to
in excess of 20Mtpa in 2018. This can be broken down as follows:

*          Sierra Leone - sinter feed: 1.5Mtpa in 2011 to in excess
  of 3Mtpa in 2013
*          Saudi Arabia - DR pellets: 5Mtpa in 2013 to 10Mtpa in 2017
*          Greenland - DR pellet feed : 5Mtpa in 2014 to 10Mtpa in
  2018
*          China - magnetite concentrate: 0.4 Mtpa in 2009 to 1 Mtpa
  in 2011
(Company estimates)

As at 30 September  2009 the Company had  consolidated Group cash  of
USD230million, which it  has allocated  to fund  the key  development
milestones of its principal iron ore assets:

*          Sierra Leone through to production within 12 to 18 month;
*          Wadi Sawawin project through to bankable feasibility
  study, due before the end of 2009;
*          Isua project through to bankable feasibility study, by the
  end of 2010; and
*          Upgrade of all resource estimates to JORC standards within
  9 months.

Further details  of the  Company's assets,  objectives and  strategy,
methods of financing its business, current trading and prospects  and
management team are set out in the Appendix to this announcement.

Commenting today  Graeme Hossie,  Chief Executive,  of London  Mining
said: "London Mining's objective is to become a mid-tier supplier  to
the global  steel industry.  We  have four  very promising  iron  ore
projects and a phased development plan to bring those assets  through
to production.  With  great  assets, a  technical  team  with  proven
expertise and a strong balance sheet,  we are intending to become  an
established company on the  London market; which  is already home  to
some of  the  world's  leading  mining  companies.  We  believe  that
admission to AIM will give us  exposure to a long established  mining
research and investment community."

Please find the full announcement, including APPENDIX with updated
information on the Group, as well as the Competent Person's Report
(CPR) and a presentation enclosed.

Please note that London Mining will host a conference call today,
Monday 12 October 2009 at 4 pm UK time/ 5 pm CET (Oslo). Dial-in
details will be announced shortly.


For more information, please contact:

Investors
London Mining Plc
Graeme Hossie, Managing Director       +44 (0) 20 7201 5000
Rachel Rhodes, Financial Director

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

Threadneedle Communication (UK)
Laurence Read/ Graham Herring          +44 (0) 20 76539850


About London Mining
Founded in April 2005, London Mining is incorporated and registered
in the UK. In 2007, London Mining raised over USD 185 million to
advance iron ore production from its projects, and listed on the Oslo
Axess, a marketplace regulated by the Oslo Stock Exchange.  In 2008,
it sold its Brazilian mine to Arcelor Mittal for USD810m and returned
GBP220m to shareholders. The Company currently has iron ore projects
and mines in Sierra Leone, Saudi Arabia, Greenland and China, and
coal assets in South Africa and Colombia. London Mining trades under
the Reuters symbol LOND.OL and Bloomberg symbol LOND:NO.

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