London Mining Agreement

London Mining is an expanding producer of high specification iron ore for the global steel industry and  is  focused  on  identifying,  developing   and operating sustainable mines. London Mining commenced sales from the Marampa mine in Sierra Leone in 2012 and expects   to  reach   production capacity of 5Mtpa in 2013. A prefeasibility study was completed in 2011 which shows that Marampa has resources to support a  staged   expansion   to  over 16Mtpa. London Mining has also completed bankable feasibility studies outlining plans for a further 20Mtpa of iron ore production by developing two other mines in Greenland and Saudi Arabia. In   addition   London   Mining is producing from a coke  operation  with  coking  coal  resource  potential in Colombia. The Company listed on London AIM on 6 November 2009.

Wits Basin owns the Bates-Hunter Gold Mine in Central City, Colorado. Discovery of gold at the Bates-Hunter Mine in 1859 kicked off the Colorado gold rush and established Denver as a major American city. All mines in the area went dormant in 1936. This mining district has historically produced more than 4 million ounces of gold. Twenty-five percent (25%) of all the gold mined came from the area immediately surrounding the Bates-Hunter mine. Wits Basin’s property controls the 15 principal veins underlying the mine

London Mining is pleased to announce that it has signed a letter of intent with Wits Basin Precious Minerals, Inc. (“Wits Basin”) which may result in London Mining becoming a 50/50 joint venture partner for Wits Basin‘s iron ore project in Ma Anshan in the People’s Republic of China. The potential transaction remains subject to due diligence and finalisation of definitive legal documents.

Flooding are the most common form of natural disaster in the UK and are now part and parcel of the British winter months; widespread flooding happens at least once a year in the UK. Earlier this year, torrents of rain hit the UK, with Cumbria the worst-affected area; heavy, prolonged rainfall caused bridges and road networks to collapse and four people lost their lives. In 2007, Yorkshire was hit hard by floods and some people are still recovering from the destruction caused by the floods three years later; the floods killed six people and left hundreds of people homeless and thousands without electricity.