London Mining Plc (OSL:LOND) London Mining - Update On The Results Of Shareholder Elections In Respect Of The Return Of Cash

London Mining Plc (OSL:LOND) On 18 November 2008, London Mining plc ("London Mining") announced the results of Shareholder elections in respect of the Return of Cash.

Since the announcement was published certain Shareholders have requested that their elections for B Shares be revoked and instead have submitted elections for C Shares in respect of, in aggregate, 7,120,654 Ordinary Shares. As there are sufficient C Shares available to satisfy the new elections and therefore the new elections will not result in any scaling back to any other Shareholders who submitted valid elections for C Shares, London Mining has agreed to treat the new elections for C Shares as valid elections.

Accordingly, the revised results of the elections are as follows:

Alternative 1: B Share Dividend

Valid and deemed elections to accept alternative 1 were received in respect of a total of 75,739,010 Ordinary Shares.

Alternative 2: C Share Redemption

Valid elections to accept alternative 2 were received in respect of a total of 33,794,785 Ordinary Shares. As valid elections for C Shares were equal to the available number of C Shares, valid elections for C Shares will be satisfied in full.

The Board of London Mining expects to declare the B Share Dividend of 200 pence per B Share payable to those Shareholders who have, or who are deemed to have, elected to receive the B Shares and to approve the C Share Redemption of 200 pence per C Share payable to those Shareholders who have elected to receive C Shares later today.

Cheques are expected to be despatched in respect of the B Share Dividend and the C Share Redemption by 26 November 2008.

Full details of the Return of Cash are contained in the circular to Shareholders of London Mining dated 17 October 2008. In this announcement, unless the context otherwise requires, all capitalised terms shall have the meaning given to them in the Circular and references to time in this announcement are references to London time.



For further information, please contact:

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

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/137683/R/1271410/281923.pdf

London Mining Plc

http://www.londonmining.co.uk/

ISIN: GB00B1VZK334

Stock Identifier: OSE.LOND