Un-audited financial information for the six months ended 31 August 2011

Angel Mining plc (the "Company" or "Angel Mining")

AIM: ANGM

The Directors of Angel Mining, the Greenland-focused mining and exploration company, are pleased to be able to report the Company’s unaudited interim results for the six months ended 31 August 2011. 

Highlights

The Company recorded a loss of $1,654,000 for the period and has seen the following substantial developments during the first six months of the current year:

• completion of the processing plant at Nalunaq;
• commencement of gold production and first gold sales;
• the raising of $12,256,000 via the Standby Equity Distribution Agreement (“SEDA”) and promissory note facilities with YA Global Masters SPV (“Yorkville”), the medium term note facility with Socius CG II Ltd (“Socius”); and via the placing of new shares; and
• further planning and development work at the Black Angel mine.

Since the end of the period under review, the Company has also:

• raised an additional $2,724,000 via a placing of new shares and an additional drawdown on the promissory note with Yorkville.

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