28^th May 2008

ANGUS & ROSS PLC

(�A&R�)

MINING LICENCE AWARDED FOR THE BLACK ANGEL MINE

A&R (AIM: AGU.L), a zinc/lead mining company focused on re-opening the Black Angel Mine in Western Greenland, is pleased to announce that its wholly owned subsidiary, Black Angel Mining A/S, has been awarded a 30 year licence to mine zinc, lead and silver ore from the Black Angel Mine. This licence allows production to commence at Black Angel and forms the latest development of the proposed restart of the mine planned for later this year.

In addition, a further mining licence application at the nearby Nunngarut zone is currently being prepared for submission.  Nunngarut is a very exciting early-stage additional production source for the Black Angel Project, which was identified recently as part of the Enhanced Management Development Plan announced on 26 March 2008. Nunngarut has the benefits of being accessible from the same base camp at Maarmorilik, and shares much of the same infrastructure as the Black Angel Mine.

Construction of the cable car system to provide working access to the Black Angel Mine recommenced in the spring, and it is now planned that work will start soon on the lower terminal; work on the upper terminal will commence before the end of June.

A&R is currently exploring funding for the final stage of development expenditure to allow production to recommence at Black Angel and is working closely with its brokers, banks and potential off-take partners to create a coordinated funding plan. A further announcement on funding aspects will be made in due course once demonstrable progress has been achieved.

Nicholas Hall, Chief Executive of Angus & Ross plc, said:

�The granting of the Black Angel mining licence is a very important step forward for Angus & Ross and we are delighted with the quick turn around process by the Greenlandic authorities. The Nunngarut resource is also a very exciting early-stage additional production source for the Black Angel Project which forms part of our Enhanced Management Development Plan for Black Angel and we anticipate the additional mining licence application process for Nunngarut will be straight forward. With these two licences in place and, subject to financing, we expect to be able to commence production by the end of this calendar year from what we anticipate will be a highly profitable operation at Black Angel.�

Angus & Ross Summary

A&R is an exploration and mining company registered in the United Kingdom and listed on the AIM market of the London Stock Exchange. Its main properties are in Greenland, and it has further exploration interests in Brazil and Australia.

The Company's main focus is the Black Angel zinc/lead property in Western Greenland. The financing package for the project was approved by shareholders in July 2007; the Bankable Feasibility Study has been received in February 2008 and the mining licence has now been granted. First production is expected in Q4 2008. Black Angel was one of the richest zinc mines in the world in its time and closed down in 1990 after 17 years of continuous operation. Advances in mining technology and the steady rise in zinc prices suggest believe that this mine may be producing again very soon. Angus & Ross also holds 259 sq km of exploration ground around the mine.