Toledo Mining Corporation PLC

Holdings in Company

Toledo Mining Corporation PLC ("Toledo" or the "Company") (AIM: TMC) was informed on 11 January 2010 that on that date European Nickel plc ("European Nickel") sold 2,500,000 ordinary shares in the Company ("Ordinary Shares"). Following the sale, European Nickel now holds an interest in 3.19 million Ordinary Shares, representing approximately 7.7 per cent. of the Company's issued share capital. 

In addition to its holding of Ordinary Shares, European Nickel holds a direct interest of 18.7 per cent. in Berong Nickel Corporation and, along with Atlas Consolidated Mining and Development Corporation, is Toledo's partner in the development of the Berong nickel project. 

The Company has been advised by European Nickel that its disposal of Ordinary Shares was for European Nickel's own corporate purposes and that it has no plan to reduce further its interest in Ordinary Shares. European Nickel has also confirmed that the implementation of value added processing at Berong in partnership with Toledo and its Philippines partners remains a key strategic objective.

As previously reported, site preparation is well advanced for the commencement of drilling at Berong, targeting an increase in the JORC resource to 40 million tonnes of ore; sufficient to support annual production of approximately 20,000 tonnes of a mixed hydroxide nickel product.

Following the European Nickel disposal described above, the Company was informed on 11 January 2010 that following a purchase of Ordinary Shares on that date, Exploration Capital Partners 2009 Limited Partnership now holds an interest in 2,000,000 Ordinary Shares, representing approximately 4.8 per cent. of the Company's issued share capital.    

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