AGU Angus&Ross

RNS Number:7811N
Angus & Ross PLC
12 February 2008




12th February 2008

ANGUS & ROSS plc
(AIM:AGU.L)



  BLACK ANGEL FEASIBILITY STUDY, MINING LICENCE APPLICATION and BOARD CHANGES


  * Wardell Armstrong International (WAI) has completed a Bankable Feasibility
    Study ("BFS") confirming the financial viability of the Black Angel mine at
    current market prices for zinc and lead
  * BMP expects to provide a mining licence to Black Angel Mining A/S towards
    the end of April 2008
  * The company is on schedule to commence production at Black Angel during
    2008
  * Frank Chapman appointed as a non-executive Director


Angus & Ross plc ("Angus & Ross" or the "Company") is pleased to announce that
WAI has completed the BFS based on pillar extraction from the Black Angel and
Cover zones.  The report covers the first three years of mining operations and
indicates a post tax internal rate of return of 43% based on zinc and lead
prices both averaging $2,500 per tonne throughout the forecast period.

The study does not include additional mineable reserves, including approximately
200,000 tonnes at Nunngarut, (for which a further mining licence application is
being prepared), and other significant reserves identified by the exploration
programme undertaken in the last two years.

The BFS was presented to the Greenlandic Bureau of Mines and Petroleum ("BMP")
on 6th February as part of the application for a mining licence for the Black
Angel and Cover zones. The BMP has announced that it is its intention to
process the mining licence by the end of April 2008, assuming that there are no
major technical or political objections.

The BFS is based on a mine plan which uses a well proven technique for
supporting key pillars with cement bonded backfill. The final version of the
mine plan was completed by Golders Inc., the specialist Canadian consultants, in
mid January, this has caused a small delay in the finalisation of the BFS
against our earlier timetable target.  However, the mine plan now envisages that
the pillars will be mined selectively, which the board believes should defer the
need for pre-concentration facilities until 2010.

Angus & Ross is now recruiting an experienced mining team as well as making the
final selection of plant and equipment needed to refurbish the mine and commence
production in 2008.  Production of saleable high grade ore should total
approximately 220,000 tonnes per annum, representing the practical limitation of
the carrying capacity of the cable car.

Following the winter shut-down, a new permit application is being made to the
BMP to allow construction of the cable car to recommence as soon as possible. It
is expected that the cable car will be fully operational during September 2008.


Board Changes

Francis (Frank) David Sherston Chapman aged 57 has joined the board as a
non-executive director, with immediate effect. He is CEO, a director and a
major shareholder of London Capital Group Holdings Limited (an AIM listed
financial services company) which he brought to the market in December 2005.
Frank has worked on the floor of the London Metal Exchange and has been involved
in metal trading and the derivative markets for most of his career, holding
directorships at Baring Securities, Morgan Grenfell and Amerex Petroleum amongst
others.  Frank has worked with oil and mining companies and government bodies
over many years assisting with their hedging requirements and can bring this
vital area of expertise to the A & R team.


Frank also currently holds 390,000 ordinary shares in the Company.

There is no further information to be disclosed pursuant to paragraph 2 (g) of
Schedule 2 of the AIM Rules.

Richard Burt and Malcolm Swallow are retiring from the board but will continue
to support the company in the capacity of technical consultants.


Robin Andrews, Chairman of Angus & Ross, commented:

"The completion of the BFS and the submission of the application for the Black
Angel mining licence is a major step forward for Angus & Ross.  The BFS shows
that the first phase of the Black Angel mine project is profitable at today's
metal prices.  Having access to the mine via the cable car will allow several
alternative mining plans to be considered for the second phase of the project as
well as facilitating further exploration from within the mine."



     Enquiries:

     Angus & Ross plc
     Robin Andrews, Chairman                                01751 430 988
     Nick Hall, Chief Executive                             07931 709 053
     Andrew Zemek, Chief Executive, Black Angel Mining      07850 755 450
     Ltd

     Fox-Davies Capital                                     0207 936 5220
     Oliver Stansfield                                      0207 936 5230
     Nick Hail

     Bishopsgate Communications Limited                     0207 562 3366
     Nick Rome

     Landsbanki Securities (UK) Limited                     0207 426 9000
     Fred Walsh                                             0207 426 9000
     Sebastian Jones



NB: This release has been approved by the Company's technical staff in
accordance with the recent Guidance Note for Mining, Oil and Gas Companies
issued by the London Stock Exchange in respect of AIM companies, which outlines
standards of disclosure for mineral projects.

These include Dr Robert Dowdell a Mining Engineer and formerly a mine
superintendent of the Black Angel Mine who obtained his Doctorate in Rock
Mechanics from University of Newcastle-upon-Tyne. Dr Dowdell serves on the board
of Black Angel Ltd a wholly owned subsidiary of Angus & Ross plc.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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