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Toledo Mining Corporation PLC (TMC)

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Monday 13 February, 2012

Toledo Mining Corporation PLC

Ipilan Offer Update

Ipilan Offer Update

Toledo Mining Corporation plc
("Toledo" or the "Company") (AIM:TMC)
Ipilan Offer Update

Toledo is pleased to announce that Jinchuan has advised that at a meeting held today it decided to move forward with the transaction to acquire Ipilan Nickel Corporation. Accordingly, Jinchuan will draft a purchase agreement for Toledo's consideration.

Reg Eccles, Chairman said "This is very good news for our shareholders. Given the distinct possibility that the transaction to dispose of our interest in Ipilan will now move to completion, it will ensure that Toledo will be able to fund its share of major efficiency improvements to mining and shipping facilities at Berong, to focus on an  exploration programme in the surrounding area, to conduct a feasibility study into  value add processing operations using Berong ore and to explore opportunities for geographic diversification."

We will make a further announcement when we have more details.

For further information, please visit or contact:

Reg Eccles, Chairman, Toledo Mining Corporation
 +44 (0) 20 7290 3100

Katie Grinham, Toledo Mining Corporation
+44(0) 7958 765 745

Anthony Rowland / Jen Boorer, Ambrian Partners Ltd
+44 (0) 20 7634 4858

Anthony Shewell / Alex Glover, Fin Public Relations
+44 (0) 20 7608 2280

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Source: Toledo Mining Corporation PLC via Thomson Reuters ONE