Portfolio Update

BLACKROCK WORLD MINING TRUST plc
All information is at 31 May 2011 and unaudited.

Performance at month end with net income reinvested
                                  One     Three       One     Three      Five
                                Month    Months      Year     Years     Years
Net asset value* (undiluted)    -0.3%      0.6%     37.2%      5.4%    106.3%          
Net asset value* (diluted)      -0.3%      0.6%     37.2%      7.3%    108.3%          
Share price*                    -2.2%      0.0%     33.9%      7.5%    108.1%          
HSBC Global Mining Index        -3.8%     -2.2%     22.2%     15.7%    117.9%          

Sources: BlackRock, HSBC Global Mining Index, DataStream

* Net asset value and share price performance includes the warrant
reinvestment, assuming the 2004 and 2006 bonus warrant entitlement per share
was sold and the proceeds reinvested on the first day of trading.

At month end                                                                   
Net asset value:                        Including Income           Capital Only
Undiluted/diluted:                               921.25p #              917.12p
# Includes net revenue of 4.13p                                                
                                                                               
Share price:                                     780.00p                       
Discount to NAV**:                                 15.0%                       
Total assets:                                 £1,684.77m                       
Net yield:                                          0.8%                       
Gearing:                                            2.9%                       

Ordinary shares in issue: 177,537,242                                          
Ordinary shares held in Treasury: 15,474,600                                   

** Discount to NAV based on capital only.                                      
                                                                               
Sector                    % Total  Country Analysis          % Total
                           Assets                             Assets
Diversified                  40.5   Global                      35.7 
Base Metals                  25.6   Latin America               24.4 
Industrial Minerals          11.1   Australasia                 13.8 
Gold                          9.5   Other Africa                 9.2 
Silver & Diamonds             7.3   South Africa                 6.8 
Platinum                      4.2   Canada                       2.6 
Other                         0.7   USA                          1.9 
Net current assets            1.1   Emerging Europe              1.7 
                                    Europe                       1.1 
                                    India                        0.9 
                                    Indonesia                    0.6 
                                    Mongolia                     0.2 
                                    Net current assets           1.1 
                            -----                              ----- 
                            100.0                              100.0 
                            =====                              ===== 
                                                                               
Ten Largest Investments                                                        
                                                                               
Company                               % Total Assets  
Rio Tinto                                        8.9  
BHP Billiton                                     6.9  
Vale                                             6.5  
Glencore Finance (Europe) 5% 31/12/14            6.1  
Minas Buenaventura                               4.9  
First Quantum Minerals                           4.5  
Teck Resources                                   4.4  
Freeport McMoRan                                 3.8  
Fresnillo                                        3.6  
Iluka Resources                                  3.5  


Commenting on the markets, Evy Hambro, representing the Investment Manager
noted:

Performance
A number of macro headwinds have challenged equity markets leading to a broad
based 'risk off' trade. Investor sentiment was driven lower by the European
Sovereign Debt concerns, weaker US economic data and the potential impact of
high oil prices on the rate of global growth.

Disappointing PMI (Purchasing Managers Index) data was released from a number
of OECD countries, which suggested that manufacturing may be showing signs of
slowing in the western world. Purchasing Managers Indices are typically used as
an indicator of industrial order strength. Chinese data was less challenged,
declining just 0.9 to 52.0, still firmly in expansion territory.

These factors also weighed heavily on the short term outlook for commodity
prices with many metals and minerals declining sharply. Nickel and tin
exhibited the most volatile performance with both metals falling more than 12%
over the month. On the positive side, iron ore prices remained robust rising at
the start of the month to $189.5/t before falling slightly to close at $179.5/t
(CIF China).

Precious metals such as gold and platinum performed relatively well over the
period, delivering broadly flat performance of 0.2% and -0.4% respectively. The
silver price on the other hand began to give back some of the strong gains of
the past 9 months, declining 20.6% in May, as COMEX raised their margin
requirements four times in one week. This pushed a number of speculative
investors out of the silver market reducing some of the 'speculative froth' in
the market. Also seen was one of the largest one-month redemption periods for
silver backed ETFs, with a 1,412t outflow (almost 9% of total holdings) in May.

Glencore, the world's largest trader of commodities with ambitions to increase
its direct mining activities, held its IPO on 19 May. The equity, listed on the
London Stock Exchange, was priced at 530p on IPO. While the stock price has
been buffeted by the on-going volatility in equity markets, it is our
expectation that rising commodity markets combined with a strong pipeline of
internal growth opportunities could lead to outperformance over the longer
term.

The political situation in Peru, which has weighed heavily on Peruvian stocks
over the past few months, appears to have reached a conclusion with Ollanta
Humala achieving a narrow victory. Changes to policy in Peru are likely as
Humala sits to the left of the political spectrum and the market reacted
negatively. However, owing to an overall minority position in Congress, it is
likely the extent of any proposed changes will have to be moderated in order to
garner support.

Strategy/Outlook
2011 has so far been a volatile period for mining equities. The sector has at
times been at the mercy of macroeconomic uncertainty and has broadly been at
the forefront of any risk on/risk off trade. The fundamentals for our favoured
commodities continue to look supportive.

The strength of those fundamentals are not being fully reflected in equity
valuations which look attractive not only on a historical basis but also when
considered in light of the exceptional levels of free cashflow mining companies
are able to generate at current commodity prices. The trends of more mergers
and acquisition activity, as well as returns to shareholders in the form of
dividends and share buybacks, are likely to get further traction in the second
half of the year.

20 June 2011

ENDS

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terminal). Neither the contents of the Manager's website nor the contents of
any website accessible from hyperlinks on the Manager's website (or any other
website) is incorporated into, or forms part of, this announcement.