Response to ACG Metals Limited no intention to bid

Anglo Asian Mining PLC ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce and notes the announcement made by ACG Metals Limited ("ACG") earlier today that it does not intend to make an offer for Anglo Asian. As a result of the announcement, ACG is bound by the restrictions contained in Rule 2.8 of the City Code on Takeovers and Mergers.

Anglo Asian remains committed to creating value for its shareholders through continued production and development of its assets. This includes the two new mines it has brought online over the past 12 months, in addition to its historically profitable assets.

Over the past year, as we have followed through on our strategic plans and continue to move towards developing Xarxar, Garadagh and grow into a mid-tier copper producer, the markets have started to recognize the ability of our management team and board to continuously develop new opportunities from our extensive license portfolio. The board and management team look forward with confidence to our strategy, which has been successful for our shareholders. We are confident that Anglo Asian will drive substantial value with our clear and achievable strategic plans to organically grow the business.