Highlights


  * Estimate for the tailings resource reported according to the JORC code
  * Additional tailings and primary ore resource estimates expected by end of Q1
    2010
  * Sufficient resources for 1.5Mtpa starter operation in 2011 with potential to
    double production from tailings
  * Planning underway for expanded production from the primary resource
  * Ausenco appointed to provide project management services
  * Confirmation   of  barge  and  shiploading  capacity  for  up  to  10Mtpa to
    accomodate tailings and primary ore production
  * Fiscal  incentives package  now confirmed  on the  Sierra Leone parlimentary
    agenda; vote expected before end of February 2010

London Mining ("the Company") today provides an update on its Marampa Project in
Sierra Leone, including: an initial resource estimate for the tailings, reported
according  to the JORC code;  an outline on its  plans for expansion to 5-8Mtpa
through  development of  the primary  ore body;  the appointment  of Ausenco Ltd
("Ausenco");  and  progress  on  the  final  approvals for its fiscal incentives
package.
The  Marampa Project is located 120km from Freetown in Sierra Leone and is 100%
owned  and operated by London Mining though its subsidiary London Mining Company
Ltd.  London  Mining  is  developing  a  tailings  reprocessing operation and is
defining its main resource body to develop a full scale mining plan.
Snowden Mining Industry Consultants ("Snowden") has estimated a resource for the
tailings portion of the Marampa Project of 32.5 Mt grading 22.67% Fe, comprising
29.6Mt grading  22.79% Indicated Resource  and 2.9Mt grading  21.51% Fe Inferred
Resource.  Resources are reported in accordance with the JORC Code 2004 and at a
cut-off  of  15% Fe.  The  current  resource  is  based  on a drilling programme
comprising  some  400 holes  but  core  recovery  below the water table has been
variable with only 43% of holes being completed to the the base of the tailings.
London Mining plans to drill a further 200 holes comprising 2,300m to be drilled
using  a new aircore rig  to allow an updated  tailings resource statement to be
reported  by the end  of Q1 2010. Initial  testwork by CDTM  in Brazil has shown
that  a sinter feed with >65% Fe, <3% SiO2 and <1% Al2O3 can be produced using a
process route involving two-stage magnetic separation.
The  resource  reported  today  is  in  line with assumptions from scoping work,
specifically   relating   to   resource  grade,  beneficiation  characteristics,
operating  costs  and  marketing  studies  for  the  resultant  concentrate. The
resource  provides  London  Mining  with  at  least  six  years of production at
1.5Mtpa concentrate  at  an  estimated  capital  cost  of  approximately  USD80m
(including  contingency  and  working  capital  build)  with  operating costs of
USD32.9/t  of concentrate and potential to accelerate production to 3Mtpa though
an  expanded tailings operation ahead of  first concentrate from primary ore. It
is London Mining's intention to fully fund development of the tailings operation
using existing cash reserves and incremental cash flow.
Ausenco  has been engaged  to provide project  management services and technical
support  to the London Mining owners  team to facilitate construction and ensure
timely  delivery of the 1.5Mtpa tailings  reprocessing operation. Development of
the  gravel haul  road to  the barge  loading site  at Tawfayim is proceeding to
schedule  with all  the main  structures now  in place  ahead of the wet season.
London  Mining  is  also  in  final  discussions  with a provider of barging and
floating  crane transhipment  capacity. The  floating crane  represents the main
long  lead  item  and  a  final  agreement  would  secure  capacity for 5Mtpa of
concentrate  with  a  single  crane,  with  potential for expansion by a further
5Mtpa through the addition of a second crane.
London  Mining will  also commence  work on  a further  expansion to  a 5-8 Mtpa
operation  once it has determined the size of the primary resource by the end of
Q1  2010. In the interim, London Mining  has initiated negotiations with Ausenco
to  undertake  a  preliminary  technical  study  to  better  define the economic
potential  of an expanded  operation. London Mining  has now completed 2,700m of
drilling  onthe Masaboin  and Ghafal  primary ore  deposits and  plans a further
6,000m drilling  in 2010. This work is intended  to allow an initial estimate to
be  reported in accordance with  the JORC Code for  the primary ore resource and
for  a prefeasibility  study to  be completed  by the  end of 2010. In addition,
further  metallurgical work is to be  undertaken to determine the suitability of
concentrate  from the primary ore body for  sinter or blast furnace pellet feed.
London  Mining is actively  pursuing potential offtake  partners for the Marampa
products.
Michael  Andrew,  Divisional  Manager  Applied  Geosciences  of  Snowden  Mining
Industry  Consultants BSc,  MAUSIMM, and  Ricardo Alvares  de Campos Cordeiro of
Coffey Mining, Brazil and a professional member of the Australasian Institute of
Geosciences;  who meet the criteria of a  qualified person under the AIM Rules -
Guidance  for  Mining,  Oil  and  Gas  Companies, have reviewed and approved the
technical  information contained  within this  announcement that  relates to the
reporting of the Marampa Mineral Resource.
Marampa  Mineral Resources  as at  January 2009, reported  at a  15% Fe cut-off.


             Measured           Indicated          Inferred
 Asset                                                               Operator
             Tonnes    Grade    Tonnes    Grade    Tonnes    Grade
             (Mt)        (% Fe) (Mt)       (% Fe)  (Mt)       (% Fe)

 Marampa,                                                             London
 Sierra                                                              Mining
 Leone       -         -        29.6      22.7     2.9       21.5    Company
                                                                     Ltd

The Marampa Project mining agreement, environmental impact assessment and fiscal
incentives  package has already received full  cabinet approval and is confirmed
on   the   Sierra  Leone  parlimentary  agenda.  London  Mining  now  expects  a
parliamentary vote and subsequent ratification to follow in February after which
it  will  then  proceed  with  full  development  of  the  tailings reprocessing
operation.  This will be  the first comprehensive  mining agreement to have been
presented  in accordance with the new Mines and Minerals Act, which was approved
by the Sierra Leone Parliament on 30 December 2009.
Graeme  Hossie,  CEO  of  London  Mining  plc,  said,"Marampa is London Mining's
leading  project based  on its  stage of  development, sizable production volume
potential,  excellent logistics  and technical  simplicity. The partial tailings
resource announced today allows Marampa to commence production quickly and start
generating  cash flow from  which we can  expand iron ore concentrate production
from  tailings to 3mtpa prior to commencing  production from the primary ore. It
also allows us to accelerate the construction of infrastructure for the enlarged
operation  based  on  the  primary  orebody.  We  look  forward to announcing an
expanded  resource,  operational  updates,  expansion  plans and an agreement on
offtake over the course of 2010".


Please  see  the  full  announcement,  including  Glossary  of  technical  terms
enclosed.



  For more information, please contact:


  London Mining Plc

  Graeme Hossie, Chief Executive Officer        +44 20 7201 5000

  Rachel Rhodes, Finance Director
  Thomas Credland, Head of Investor Relations


  Liberum Capital (Nominated Advisor/Broker)

  Clayton Bush/Ellen Francis                    +44 20 3100 2000


  Crux Kommunikasjon AS

  Charlotte Knudsen                             +47 97 56 19 59


  Threadneedle Communication (UK)

  Laurence Read/ Graham Herring                 +44 20 7653 9850
                                                                  The Company's
website can be found at www.londonmining.co.uk <http://www.londonmining.co.uk/>.


About London Mining
London  Mining  is  focused  on  identifying, developing and operating scaleable
mines  to become  a mid-tier  supplier to  the global  steel industry.  Its four
principal  assets in  Sierra Leone,  Saudi Arabia,  Greenland and China all have
deliverable  production with potential for expansion.  The Company listed on the
Oslo  Axess on 9 October 2007 and on AIM in London on 6 November 2009. It trades
under  the  symbols  LOND.L  and  LOND.NO  (Reuters)  and  LOND  LN  and LOND NO
(Bloomberg).

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)



[HUG#1378499]





    Full announcement MARAMPA UPDATE: http://hugin.info/137683/R/1378499/339009.pdf