Shareholder Update

Angel Mining plc (the "Company")
AIM: ANGM

NALUNAQ GOLD MINE

• Permit received for construction and operation of the gravity process plant
• Agreements confirmed for transporting and refining doré bars
• Foundations and preparatory work completed
• All gravity plant components are on site and construction is well underway

BLACK ANGEL MINE

• Lower Cable Car terminal completed
• Construction work to recommence in Spring 2010

2009 was a transformational year for the Company. The acquisition of the Nalunaq gold mine (“Nalunaq”) in Greenland, as first announced on 1 July 2009, has accelerated the point at which the Company will be cash generative as production is now imminent. Permitting by the Greenlandic authorities is well progressed and the export licence should be granted by the time the first doré bars are available for transfer to the refiner.

The carbon in pulp (CIP) part of the plant will be constructed during February and, subject to the granting of the required permit, should be operational before the end of March.

At the Black Angel Mine (“Black Angel”) the Company has completed the construction of the lower cable car terminal and work will recommence in the Spring to construct the upper terminal, and the infrastructure for the mineral process plant. In addition work will advance on expanding the existing project camp. Photographs are available for viewing on the website www.angelmining.com. Subject to the availability of finance, the Company plans to build the cable car, underground processing plant and extend the camp during 2010 in order that production can commence in early 2011.

Further announcements and updates on the Company’s operations will be provided when appropriate.

Angel Mining CEO Nicholas Hall commented –

“Much was achieved in 2009 but 2010 presents new challenges and opportunities. Raising the funding for the Black Angel will be helped by cash being generated at Nalunaq and the much improved commodity prices. I expect the cash cost of production at both Nalunaq and Black Angel to be less than 50% of current market prices."

“Management looks forward to continuing the progress made by the Company over the last twelve months as it looks to further develop its mining operations.”