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

Toledo  is pleased to announce that  on Tuesday 12th September, the MV Vinalines
Queen  sailed  for  China  with  53,600 wet  metric tonnes ("wmt") of nickel ore
thereby  completing the first shipment of high grade, 1.8% nickel grade material
from  the  Berong  mine.   This  shipment  provisionally generates approximately
US$3,500,000 for Berong Nickel Corporation ("BNC"), in which Toledo has a 56.1%
economic  interest. The  shipment was  sold to  Shaanxi Energy Metals & Minerals
Resources  Co. Ltd  on a  spot basis  taking advantage  of the current high spot
prices for nickel ore.

The  price of $65 per wet  metric tonne is $10 to  $20 per tonne higher than BNC
has  been  offered  recently  for  one  to  two year supply contracts. Whilst it
remains  BNC's  intention  to  tie  up  longer  term  supply arrangements, it is
considered  prudent to benefit from current spot  prices ahead of the closure of
the shipping window.

Also  on Tuesday, a ship  arrived to load the  third and final shipment from the
original,  lower grade, stockpiled ore after  which BNC is targeting, subject to
sea  conditions, to  make a  further 2-3 shipments  of 1.8% material before this
year's shipping window closes in October.

As  detailed in our Annual Report, Toledo and its JV Partners in BNC developed a
plan  to mine  1.8% nickel consistent  with the  growing demand  by ferro nickel
producers,  particularly in China, for this ore  type. To date, BNC has produced
207,163 wmt of 1.8% nickel grade ore.

In  some of the areas being mined for this higher grade material, more saprolite
ore  has been found  at depth than  previously recorded in  calculating the JORC
compliant  resource. This has benefited mining costs. It is not possible to know
if  this experience will  be repeated as  mining moves to  other areas but it is
consistent  with the results of last year's drilling programme in selected areas
within the existing mine site.

For further information, please visit www.toledomining.com or contact:

Reg Eccles, Chairman, Toledo Mining Corporation
 +44 (0) 20 7514 1480

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

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









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Source: Toledo Mining Corporation PLC via Thomson Reuters ONE

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