Anglesey Mining's 19.7% owned associate Labrador Iron Mines Holdings Limited (TSX:LIM) announces that it has filed an amended and restated preliminary short form prospectus in connection with an overnight marketed public offering (the "Offering") of units of LIM (the "Units") at a price of C$1.05 per Unit (the "Offering Price"). Each Unit will consist of one common share of LIM and one-half of one common share purchase warrant.  Each warrant will entitle the holder to purchase one common share of LIM at an exercise price of C$1.35 per common share for a period of 36 months following the date of closing of the Offering.  The Offering will be conducted through a syndicate of underwriters led by Canaccord Genuity Corp. and including RBC Dominion Securities Inc., Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., Jennings Capital Inc. and Raymond James Ltd. (the "Underwriters").

LIM will also grant the Underwriters an over-allotment option to purchase up to that number of additional units (the "Over-Allotment Units") equal to 15% of the Units sold pursuant to the Offering, exercisable at any time up to 30 days after and including the closing of the Offering at a price equal to the Offering Price.

LIM intends to use the net proceeds from the Offering to fund pre-stripping, mining, and processing costs, including payments to LIM's mining contractors, and transportation costs, including tariff payments to TSH and QNS&L, in connection with the seasonal resumption of production operations in April 2013; capital and infrastructure expenditures on the Silver Yards processing plant including the connection to hydro power; and to supplement working capital and general and administrative costs for the remaining winter season.

For further information, please visit LIM's website at www.labradorironmines.ca.

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