Announcements 2006

Strategic Partnership

23 October 2006

Brinkley Mining partners with Le Commissariat General a L'Energie Atomique ("CGEA") to develop and advise on all Uranium assets in the Democratic Republic of Congo ("DRC").

Brinkley Mining has entered into agreements to acquire 70% of a company to be known as Brinkley Africa Ltd ("Brinkley Africa"), in which the key asset is an agreement with the CGEA (the "Agreement"). CGEA is a statutory Government body of the DRC, and is responsible for domestic management of nuclear resources and the DRC's compliance with International Treaties.

Under the terms of the Agreement, Brinkley Africa is the CGEA's partner for the development of the DRC's uranium resources as well as assisting the CGEA to comply with its obligations under national law and International Treaties.

Brinkley Africa also has a first right of refusal and the right to choose partnerships with the CGEA for the exploration and development of any uranium projects in the DRC. Brinkley Africa and CGEA are now actively working together to prioritise the development of a number of key uranium projects in the country. The agreement stipulates Brinkley Africa's and CGEA's typical shareholding for all mining projects will be 80% and 20% respectively, while non-mining projects will be developed on a case by case basis.

Brinkley has acquired the interest in Brinkley Africa for an initial consideration of 5 million new ordinary shares of 0.15p each in the capital of Brinkley Mining ("Ordinary Shares") and US$0.5 million payable in cash (the "Initial Consideration") with a further 5 million Ordinary Shares to be issued upon the first grant to Brinkley Africa of a Permis de Recherche (exploration permit) over exploration areas as agreed by Brinkley Africa's shareholders. Based on the current Brinkley Mining share price of 21p and current exchange rates, the Initial Consideration is valued at approximately £1.3 million. All consideration shares will be subject to a 12 month lock-in arrangement. The remaining 30% of Brinkley Africa is held by international private investors. Brinkley Mining has a 15 year option to acquire the remaining 30% interest in Brinkley Africa at a price to be agreed at the time, to be satisfied by the issue of new Brinkley Mining Ordinary Shares (the "Option Consideration Shares"). In the event that the Option Consideration Shares exceed more than 10% of the issued share capital, then Brinkley Mining shareholder approval for the transaction will be sought.

Brinkley Mining has agreed to fund Brinkley Africa to develop projects in the DRC. The funding will be provided though a loan agreement provided by Brinkley Mining to Brinkley Africa, of up to US$5 million at commercial rates. Other than the Agreement, Brinkley Africa has no material assets or liabilities.

Gerard Holden, Chairman of Brinkley Mining said: "We are delighted to have been chosen by CGEA as its strategic partner in this extraordinary and unique opportunity to assist in the development of the DRC's renowned uranium resources. The DRC contains one of the world's most abundant collections of natural resources which include a number of well-known uranium deposits. We look forward to working closely with the CGEA to assist in maximising the development of uranium resources for the country's benefit and to help it meet its obligations under international treaties."

For further information, please contact:

Brinkley Mining Plc
Gerard Holden, Chairman
Alan Thom, Chief Operating Officer
Bruce Stewart, Investor Relations Manager
Tel +44 (0) 207 016 5108
Fax +44 (0) 207 016 5101

Beaumont Cornish Limited
Roland Cornish
Tel +44 (0) 20 7628 3396
Fax +44 (0) 207628 3393

Arbuthnot Securities Limited
Graham Swindells
Tel +44 20 7012 2000

Parkgreen Communications
Justine Howarth, Ana Ribeiro
Tel +44 (0) 20 7493 3713
Fax +44 (0) 20 7491 3936