Anglo Asian Mining PLC provided an update of its operations at Gedabek gold/copper mine in Azerbaijan for the month and year to date ended February 28, 2010. The company produced 4,007 ounces gold. The company anticipates that this trend will continue and therefore remains confident that it will exceed its revised production target for the first 12 months of operation to June 30, 2010 of 25,000 oz Au, while simultaneously benefiting from the buoyant gold price and a reduced cost base. Under the production sharing agreement, the Government of Azerbaijan receives 12.75% of gold produced until Anglo Asian has recovered its capital, operating and financing costs in full at which point the Government of Azerbaijan will then be entitled to a 51% share of profits. In terms of processing, for the month of February 2010, the company transferred a further 70,118 tones of dry ore onto the leach pad with an average gold content of 5 g/t, significantly above predicted grades. Blending of high and low grade ore has been carried out in a ratio that will increase tones whilst maintaining the grade quality. The company expects gradually to ramp this up to a target of 75,000 tones of dry ore per month onto the leach pad. The installation of new plant equipment has impacted positively on the plant's performance and production figures. The secondary and tertiary crushers, as well as a reconditioned cone crusher, that acts as a standby to increase the plant's operational flexibility, have been installed. February also saw the commencement of the Sulphidisation, Acidification, Recycling, and Thickening process, which will facilitate the recovery of the copper dissolved in the leaching solution. The copper will be recovered in the form of a precipitated copper sulphide concentrate by-product, which will also contain silver with commercial value. Initial results appear promising. Following process optimization, a plant automation system will be installed. The plant capacity is 1,800 tones of copper concentrate per year although the amount produced will depend on ore mineralogy and process efficiencies. Initial assay results show that the copper concentrate contains 60% -70% copper and 4,000 to 6,000 g/t of silver. For year to date period, total production from Gedabek, which commenced production in July 2009, was 18,855 oz Au. The company has signed a debt rescheduling agreement with the International Bank of Azerbaijan, in regards to its $5 million credit facility signed in October 2007; $20 million loan signed in 2008; and $3 million loan signed in November 2009. New repayment terms under the agreement for these loans are as follows: $5 million repayment is scheduled in six monthly installments of $416,667 beginning from May 2010 with three final monthly payments of $833,328 from November 2010 to January 2011; $20 million repayment is scheduled over a two year period to December 2012 with $8 million scheduled in equal quarterly installments in 2011 and $12 million scheduled in equal quarterly installments in 2012; and $3 million is rescheduled in five equal monthly tranches from May 2010 to September 2010. In total, the company has five loan agreements with the IBA for $43.9 million in aggregate, which will be repaid from cash generated from production at Gedabek. Following the agreement, the company is now scheduled to pay approximately $8.67 million in repayments to the IBA during 2010 instead of $17.1 million.

Anglo Asian Mining PLC has appointed Professor John Monhemius to its Board of Directors as a Non-executive Director with effect from 19 August 2009. Professor Monhemius has extensive experience having acted as a consultant to a number of large mining and chemical companies over the years. Currently, he is a Non-executive Director of Obtala Resources plc.

Anglo Asian Mining PLC announced the appointment of Andrew Herbert to the non-board position of Chief Financial Officer based in Azerbaijan with immediate effect. Andrew has spent nearly three years with Avnel Gold Mining Limited.