Proposed transaction for Trefi Coal with Carder...

News Release

November 17, 2011

                                              Anglo Pacific Group PLC
                          Proposed transaction for Trefi Coal with Cardero Resource Corp.

Anglo Pacific Group PLC (''Anglo Pacific'') (LSE: APF) (TSX: APY) announces today that it has agreed to a proposal
with  Cardero Resource Corp. ("Cardero") for Cardero to acquire up to 100% of Trefi Coal Corporation  ("Trefi").
Trefi  is  a  wholly owned subsidiary of Anglo Pacific and holds the Trefi Coal Property in the Pine  River  area,
northeast British Columbia, Canada.

The main terms of the proposal are as follows:

    *       Cardero will be granted an option to acquire 50% of Trefi following delivery of a bankable feasibility
            study within four years, for total consideration of C$3.5million and 500,000 common shares of Cardero.

    *       For a further payment of C$6million, Cardero will be granted an additional option to acquire the remaining
            50% of Trefi, following a decision to mine.

    *       Anglo Pacific will retain a 3% gross revenue royalty over the project.

    *       Cardero will issue 1 million warrants to Anglo Pacific exercisable at C$1.40 per share for a period of 18
            months.

    *       The proposed transaction is subject to settlement and execution of formal documentation and the approval
            of the Toronto Stock Exchange.

Commenting on this transaction, John Theobald, Chief Executive Officer of Anglo Pacific, said:

"Anglo  Pacific is very pleased to be working with Cardero on the development of Trefi. Cardero brings  extensive
operating coal expertise gained in British Columbia and this project will complement Cardero's development of  its
nearby Carbon Creek metallurgical coal property. We will receive an upfront cash payment recognizing the work  and
expense to date on Trefi and will hold a valuable royalty over the life of the project."

For further information:

Anglo Pacific Group PLC                                                                       [phone]

Peter Boycott, Chairman
John Theobald, Chief Executive Officer
Chris Orchard, Chief Investment Officer

Website:                                                                                 www.anglopacificgroup.com

Liberum Capital                                                                               [phone]

Chris Bowman
Christopher Kololian

Pelham Bell Pottinger                                                                         [phone]

Lorna Spears
James MacFarlane

Notes to editors:

Anglo  Pacific Group PLC ("Anglo Pacific") is a global natural resources royalties company. The strategy of  Anglo
Pacific  is  to expand its mineral royalty interests in low-cost, long-life mining assets. Anglo Pacific  achieves
this  through both direct acquisition and investment in projects at the development and production stage. It is  a
continuing  policy  of  Anglo  Pacific  to pay a substantial proportion of  these  royalties  to  shareholders  as
dividends.

Cardero  Resource Corp. ("Cardero"), headquartered in Vancouver, British Columbia strives to maximize  shareholder
value by utilizing management's strong regional network and geological and operational expertise to implement  the
most  economically sound and environmentally friendly approach to building its business.  Cardero's focus has been
on  bulk  commodities and includes a 75% interest in the Carbon Creek Metallurgical Coal deposit  in  northeastern
British Columbia and the right to acquire a 90% interest in the Sheini Hills Iron Ore project in Ghana.

Important notice

This  news  release  contains  forward-looking  statements based  on  assumptions  and  reflects  Anglo  Pacific's
expectations,  estimates  and  projections  of future events as of  the  date  of  this  release.  Forward-looking
statements   include,  without  limitation,  statements  regarding  the  performance,  prospects,   opportunities,
priorities,  targets, goals, objectives, strategies, growth and outlook of Anglo Pacific. Often, but  not  always,
forward-looking  statements  can  be  identified by the use of words such as  "expects",  "anticipates",  "plans",
"believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts", or variations (including negative
variations)  of such words and phrases, or state that certain actions, events or results "may", "could",  "would",
"might" or "will" be taken, occur or be achieved.

Forward-looking statements are based upon certain material factors and assumptions that were applied in drawing  a
conclusion or making a forecast or projection, including assumptions and analyses made by Anglo Pacific  in  light
of  its  experience and perception of historical trends, current conditions and expected future  developments,  as
well  as  other factors that are believed to be appropriate in the circumstances. Also, forward-looking statements
involve  known and unknown risks, uncertainties and other factors that are beyond the Company's control and  which
may  cause  the  actual results, performance or achievement to be materially different from  any  future  results,
performance  or  achievements expressed or implied by such forward-looking statements. Such material  factors  and
assumptions and risks and uncertainties include, among others, those described in the Company's annual information
form dated as at June 29, 2010 (available on Anglo Pacific's website and at www.sedar.com), which are incorporated
by reference into this release and qualify any and all forward-looking statements made in this release.

Although  Anglo Pacific has attempted to identify factors that could cause actual actions, events  or  results  to
differ  materially  from  those described in forward-looking statements, there may be  other  factors  that  cause
actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that
actual  results  will be consistent with these forward-looking statements. Accordingly, readers should  not  place
undue  reliance  on  forward-looking statements. The forward-looking statements herein relate only  to  events  or
information  as of the date on which the statements are made and, except as specifically required  by  law,  Anglo
Pacific  undertakes no obligation to update or revise any forward-looking statements, whether as a result  of  new
information, estimates or opinions, future events or results or otherwise.

Anglo Pacific Group Plc