Notice of General Meeting

Chief Executive Officer, Nicholas Hall, comments:
“The various resolutions being considered at this General Meeting represent an important new start for the Company. The support of Cyrus Capital has enabled us to avoid the threat of receivership and to acquire the assets of the Nalunaq gold mine, providing all shareholders with a real prospect of seeing their investment in Angus & Ross progressively increase in value. We still await the formal approval of the Greenlandic and Danish Governments’ Joint Committee, for the acquisition, which we are hoping to receive shortly.

I am delighted that our board will be strengthened by the appointments of Dan Bordessa as a non-executive director and Frank Chapman as non-executive chairman. I have worked closely with Dan, over the last few months, to create the opportunity that we now have and we both agree that the Company has an excellent opportunity to develop a variety of mining opportunities in Greenland. We have worked with Frank before, in his previous capacity as a non-executive director of the Company, and I am particularly delighted that he has agreed to rejoin us as Chairman. We believe he will be most effective in this role and in addition he brings great insight into metal commodity markets.

We have decided to mark this new start for the Company by proposing that we change our name to Angel Mining plc. Our new name is taken from our flagship project, the Black Angel mine and it emphasises that we are now a ‘mining’ company. We will shortly unveil our new website which we hope will be a more effective window on the world for us as we will use it to keep shareholders better informed with regular progress reports on operational sites together with other essential data.

Preparatory work is currently underway at both Nalunaq and the Black Angel and in recent months we have seen commodity prices rise well above our forecast cash cost of production. We anticipate that Nalunaq will be in production before the end of 2009 and we plan to be mining the Black Angel in late 2010.”

Full details can be found in the key documents section of the Corporate Information page.