Cambridge Mineral Resources plc
LSE : CMR

Cambridge Mineral Resources plc

September 10, 2008 09:11 ET

Equity Placing

     Cambridge Mineral Resources plc / Ticker: CMR / Index: AIM / Sector: Mining & Exploration

10 September 2008
                     Cambridge Mineral Resources plc ('CMR' or 'the Company')
                                          Equity Placing

Cambridge  Mineral  Resources  plc,  the  AIM listed mining  exploration  and  production  company
primarily  targeting precious metals in South America, has received share placing  commitments  to
raise  £360,000 ('the Placing') through the issue of 36,000,000 new ordinary shares of  1pence  at
1.0p per share ('Placing Shares').

The  Placing  Shares  will represent 11 per cent of the Company's enlarged  issued  share  capital
following  the Placing, and will, when issued, rank pari passu in all respects with  the  existing
issued ordinary shares.  The placing is conditional, inter alia, on the new ordinary shares  being
admitted to trading on AIM for which application is being made to the London Stock Exchange and it
is  expected  that  admission will become effective and that trading in the  Placing  Shares  will
commence on or around 16th September 2008.

CMR's  Managing  Director Colin Andrew said, "It is the Company's continuing strategy  to  acquire
established exploration projects to develop into economically mineable reserves of precious metals
providing  the Company with an output equivalent to 100,000 oz gold per annum.  With a strong  and
ever-developing portfolio of mineral projects located in South America, it was necessary  for  the
Company  to raise £360,000 for general working capital while we strive towards achieving our  goal
of  bringing our key project, the Quintana gold mine in Colombia, into production by  the  end  of
this year."

The total number of ordinary shares in issue following the placing will be 327,115,704.

                                            ** ENDS **

For further information, visit www.cambmin.co.uk or contact:
Colin Andrew                   Cambridge Mineral Resources plc      +44 (0) 20 7663 5618
Managing Director                                                   candrew@iol.ie
Michael Burton                 Cambridge Mineral Resources plc      +44 (0) 20 7663 5618
Finance Director                                                    mburton@cambmin.co.uk
Gavin Burnell /                Ruegg & Co Limited                   +44 (0) 20 7584 3663
Roxane Marffy
Colin Rowbury                  Hichens, Harrison and Co             +44 (0) 20 7382 7771
Tom Beattie                    Haywood Securities (UK) Limited      +44 (0) 20 7031 8018
Victoria Thomas                St Brides Media & Finance Ltd        +44 (0) 20 7236 1177

Notes to Editor
Cambridge  Mineral  Resources  plc  is an AIM listed mining and exploration  company  focussed  on
becoming  a  producer of precious metals with an output equivalent to 100,000 oz gold  per  annum.
Primarily  targeting  precious metals in South America, its strategy  is  to  acquire  established
resources  at  advanced stage exploration or near term production and develop them to economically
mineable  reserves through further exploration.  It has a strong portfolio of mineral projects  at
varying  stages  of commercialisation including its two key projects, the Quintana  gold  mine  in
Colombia,  which  is  anticipated to commence production by the end of 2008,  and  the  Rasuhuilca
silver-gold  mine  in  Peru.  The Company also has a portfolio of assets in Europe,  which  it  is
currently in the process of seeking to divest through either joint-venture or sale.

Contact Information

  • Cambridge Mineral Resources Plc