Announcements 2008

INTERIM RESULTS
FOR THE PERIOD ENDED 30 JUNE 2008

Brinkley Mining announces its un-audited interim results for the period ended 30 June 2008.

Chairman’s statement
Exploration and Corporate Summary

Significant preparation work was undertaken in Southern Sudan, Chad and Niger which led to announcements in early 2008 regarding the granting of exploration rights in each of those countries.

In Sudan, an airborne aeromagnetic and radiometric survey commenced on 1 June 2008 and is scheduled to be completed during Q4 2008. It is planned that 49,000 line kilometres will be flown. Some 9,000 line kilometres have been flown to date and the initial batch of data captured is currently being processed. The exploration program is being carried out in terms of a Joint Venture Agreement with the New Kush Exploration and Mining Company Limited, which holds the exclusive licence for gold exploration within the Budi Concession. In terms of the Agreement, the parties share on a 50:50 basis the cost of exploration and the benefits arising from it.

On 14 May 2008, the Company announced that its 70 percent owned Nigerien subsidiary, African Uranium SARL ("African Uranium"), had been granted an Exploration Permit in Niger ("Terzemasour 3"). Terzemasour 3 covers an area of 422.3km² in the Tim Mersoi basin, is located approximately 30 kilometres to the west of the northern Niger town of Agadez and is proximal to the Arlit fault which is the main structural control to the existing uranium producing mines in Niger. On 16 July 2008, the Company’s Nigerien partners in African Uranium exercised their put option to sell their 30 per cent interest in African Uranium to the Company at a price of US$1.75 million. All the transaction formalities were completed during July and African Uranium is now a 100 percent owned subsidiary of Brinkley Mining Plc. A team of three geologists has recently commenced a field mapping and ground radiometric survey program around selected radiometric anomalies identified by the aerial survey undertaken by Brinkley earlier in the year.

The Company completed a review of all available geological and sample data for the Waterval Project in South Africa. The review confirmed that the Project contains a small uranium resource but that the grade and limited tonnage are insufficient to support the establishment of a stand-alone operation to exploit it. Furthermore the geological model suggests there is limited potential for the delineation of additional resources within the licence area. The technical review of the potential of the DRC and Chad continues but the outlook does not look promising. The directors have addressed the carrying value of these three projects in this Interim report.

Management Changes

A number of changes to the Company’s Board took place with Richard Linnell and Dunbar Dales joining as Non-Executive Chairman and Chief Executive Officer respectively. Gerard Holden and Kiran Morzaria relinquished their Board positions on 31 May 2008 and Donald Strang will step down on appointment of a new Finance Director, which is anticipated to be on or before 31 August, 2008.

Results Summary

The Group loss for the period ended 30 June 2008 was approximately £10.8 million which is mainly attributable to an impairment charge of £9.80 million relating to intangible and tangible assets. The Board thought it prudent to provide for a further £6.30 million in relation to DRC assets due to the uncertainty surrounding enforcement of the current agreements. In addition, £4.95 million was provided for in relation to South African exploration assets principally reflecting the Board’s further review of the Waterval drilling results and the limited number of licenses awarded to the Company to date. £0.55 million was provided for in relation to the Chad exploration assets due to the findings of a review of the initial geological assumptions and the increased political risk profile for the country.

Outlook
Whilst the short term outlook for uranium projects remains difficult, the long term outlook remains positive. The Board believes this situation will produce a wide range of acquisition opportunities for the Company in the year ahead, and consequently the Company is positioning itself to take advantage of any opportunities which may arise. The Company is continuing to review all expenditure in order to ensure it maintains its strong cash position.

Richard Linnell
Non - Executive Chairman
4 August 2008

Independent Review Report to Brinkley Mining Plc

Introduction

We have been engaged by the Company to review the accompanying Group Balance Sheet of Brinkley Mining Plc as of 30th June 2008 and the related Group Statements of Income, Changes in Equity and Group Cash Flows for the period then ended and related notes. We have read the other information contained in the interim financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the financial statements.

Directors’ Responsibilities

The interim report, including the financial information contained therein, is the responsibility of, and has been approved by the Directors. The Directors are responsible for preparing the interim report in accordance with the AIM Rules for Companies which require that the financial information must be presented and prepared in a form consistent with that which will be adopted in the next annual financial statements.

Our Responsibility

Our responsibility is to express to the Company a conclusion on the condensed set of financial statements in the interim report based on our review. This report, including the conclusion, has been prepared for and only for the Company for the purpose of the AIM Rules for Companies and for no other purpose. We do not, in producing this report, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Scope of Review

We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity,” issued by the Auditing Practices Board for use in the United Kingdom. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion herein.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial information is not prepared, in all material respects, in accordance with the basis of preparation set out in Note 1 of the “Notes to the Interim Financial Statements” following these Interim Results, and the AIM Rules for Companies.

CHAPMAN DAVIS LLP
Chartered Accountants
London
4 August 2008

The maintenance and integrity of the Brinkley Mining Plc website is the responsibility of the directors; the work carried out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility for any changes that may have occurred to the financial information since it was initially presented on the website.

BRINKLEY MINING PLC
GROUP INCOME STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2008

Note 6 months to
30 June 2008
(unaudited) 6 months to
30 June 2007
(unaudited) Period ended
31 December 2007
(audited)
£’000 £’000 £’000

Administrative expenses (1,090) (375) (1,448)
Share options expensed 5 (200) (942) (1,194)
Impairment charge (9,801) - (6,000)

Operating loss (11,091) (1,317) (8,642)

Interest receivable 253 402 742

Loss on ordinary activities before taxation (10,838) (915) (7,900)

Taxation on loss on ordinary activities - - -

Loss for the financial period (10,838) (915) (7,900)

Basic loss per share expressed in pence
3 (3.04) (0.30) (2.39)

BRINKLEY MINING PLC
GROUP BALANCE SHEET
AS AT 30 JUNE 2008

Note As at
30 June 2008
(unaudited) As at
30 June 2007
(unaudited) As at
31 December 2007
(audited)
£’000 £’000 £’000
Assets

Non-current assets
Intangible assets 7 2,117 4,194 9,493
Tangible assets 6 490 7,813 2,816
2,607 12,007 12,309
Current assets
Trade and other receivables 92 603 127
Cash and cash equivalents 8,084 14,202 11,126
Total current assets 8,176 14,805 11,253
TOTAL ASSETS 10,783 26,812 23,562

Current Liabilities
Trade and other payables (40) (142) (243)
Total Liabilities (40) (142) (243)

Net Assets 10,743 26,670 23,319

Shareholders’ equity
Called up share capital 4 535 465 535
Share premium account 27,774 19,535 27,774
Retained loss (21,380) (3,557) (10,542)
Merger reserve - 7,033 2,033
Foreign exchange reserve 48 (120) (47)
Share based payment reserve 3,766 3,314 3,566
Total Equity 10,743 26,670 23,319

BRINKLEY MINING PLC
GROUP CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2008
6 months to
30 June 2008
(unaudited) 6 months to
30 June 2007
(unaudited) Period ended
31 December 2007
(audited)
£’000 £’000 £’000
Cash outflow from operating activities

Operating Loss
Decrease/(increase) in trade and other receivables
Increase/(decrease) in trade and other payables
Foreign exchange translation
Share options expensed
Impairment charge
Depreciation
(11,091)
35
(203)
95
200
9,801
76
(1,317)
(128)
(50)
(73)
942
-
- (8,642)
348
51
-
1,194
6,000
59

Net cash outflow from operating activities (1,087) (626) (990)

Cash flows from investing activities
Interest received 253 402 742
Payments to acquire intangible assets (1,309) (1,954) (4,443)
Payments to acquire tangible assets - (235) (297)
Net cash outflow from investing activities (1,056) (1,787) (3,997)

Acquisitions and disposals
Payments to acquire subsidiaries (899) - (501)
Net cash outflow from acquisitions and disposals (899) - (501)

Net (decrease) in cash and cash equivalents (3,042) (2,413) (5,489)

Cash and cash equivalents at beginning of period 11,126 16,615 16,615
Cash and cash equivalents at end of period 8,084 14,202 11,126

BRINKLEY MINING PLC
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE SIX MONTHS ENDED 30 JUNE 2008

Called up share capital
Share premium reserve Merger reserve Foreign currency translation reserve Share based payment reserve Retained earnings Total
Group £ 000's £ 000's £ 000's £ 000's £ 000's £ 000's £ 000's

As at 1 January 2007 465 19,535 7,033 (47) 2,372 (2,642) 26,716

Currency translation differences - - - (73) - - (73)
Share based payments - - - - 942 - 942
Loss for the period - - - - - (915) (915)

As at 30 June 2007 465 19,535 7,033 (120) 3,314 (3,557) 26,670

Currency translation differences - - - 73 - - 73
Share capital issued 70 8,239 - - - - 8,309
Loss for the year - - - - - (6,985) (6,985)
Impairment charge - - (5,000) - - - (5,000)
Share based payments - - - - 252 - 252
As at 31 December 2007 535 27,774 2,033 (47) 3,566 (10,542) 23,319

Currency translation differences - - - 95 - - 95
Loss for the year - - - - - (10,838) (10,838)
Impairment charge - - (2,033) - - - (2,033)
Share based payments - - - - 200 - 200
As at 30 June 2008 535 27,774 - 48 3,766 (21,380) 10,743


BRINKLEY MINING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE SIX MONTHS ENDED 30 JUNE 2008

1. Basis of preparation

The interim results have not been audited but were the subject of an independent review carried out by the Company’s auditors, Chapman Davies LLP. Their review confirmed that the figures were prepared using applicable accounting policies and practices consistent with those adopted in the statutory accounts for the year ended 31 December 2007. The figures for the year ended 31 December 2007 have been extracted from these accounts, which have been delivered to the Registrar of Companies and contained an unqualified audit report.

The interim consolidated financial statements for the six months ended 30 June 2008 have been prepared in accordance with IAS 34 ‘Interim Financial Reporting’. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Group’s 2007 annual financial statements.

The financial information contained in this document does not constitute statutory accounts as defined by Section 240 of the Companies Act 1985. In the opinion of the directors the financial information for this period fairly presents the financial position, result of operations and cash flows for this period.

This interim financial report was approved by the Board of Directors on 4 August 2008.

2. Turnover and segmental analysis

The Group has not commenced production and therefore recorded no turnover.
The analysis of the operating loss before taxation and the net assets employed by geographical segment of operations is shown below;

30 June 2008 UK South Africa DRC Sudan Chad Niger Cyprus Total
£ 000's £ 000's £ 000's £ 000's £ 000's £ 000's £ 000's £ 000's
Result
Operating loss (851) (2,886) (6,502) - (550) - (302) (11,091)
Investment revenue 253 - - - - - - 253
Loss before & after tax (10,838)

Other information
Depreciation and impairment - 2,973 6,354 - 550 - - 9,877
Capital additions - 212 213 137 263 1,383 - 2,208

Assets
Segment assets - 515 75 396 140 1,481 - 2,607
Financial assets 52 40 - - - - - 92
Cash 8,084
Consolidated total assets 10,783
Liabilities
Segment liabilities -
Financial liabilities 13 14 - - - - 13 40
Consolidated total liabilities 40

2 Turnover and segmental analysis (continued)

31 December 2007
UK South Africa DRC Sudan Chad Niger Cyprus Total
£ 000's £ 000's £ 000's £ 000's £ 000's £ 000's £ 000's £ 000's
Result
Operating loss (2,112) (280) (6,157) (29) (30) (3) (31) (8,642)
Investment revenue 742 - - - - - - 742
Loss before & after tax (7,900)

Other information
Depreciation and impairment - 45 6,014 - - - - 6,059
Capital additions - 360 12,406 259 427 98 - 13,550

Assets
Segment assets - 5,293 6,233 258 427 98 - 12,309
Financial assets 66 39 19 - - - 3 127
Cash 11,126
Consolidated total assets 34,562
Liabilities
Segment liabilities
Financial liabilities 109 119 6 1 1 1 6 243
Consolidated total liabilities 243

30 June 2007
Result
Operating loss (1,231) (43) (35) - - - (8) (1,317)
Investment revenue 402 - - - - - - 402
Loss before & after tax (915)

Other information
Depreciation - - - - - - - -
Capital additions - 986 794 126 283 - - 2,189

Assets
Segment assets - 8,960 2,638 126 283 - - 12,007
Financial assets 88 514 - - - - - 603
Cash 14,202
Consolidated total assets 26,812
Liabilities
Segment liabilities
Financial liabilities 49 93 - - - - - 142
Consolidated total liabilities 142

BRINKLEY MINING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE SIX MONTHS ENDED 30 JUNE 2008

3. Loss per share

The calculation of earnings per share is based on the loss after taxation divided by the weighted average number of share in issue during the period:

6 months to
30 June 2008
(unaudited) 6 months to
30 June 2007
(unaudited) Period ended
31 December 2007
(audited)
£’000 £’000 £’000

Net loss after taxation (10,838) (915) (7,900)

Weighted average number of ordinary shares used in calculating basic earnings per share 356.3m 309.7 m 330.5m

Basic loss per share (expressed in pence) (3.04)p (0.30)p (2.39)p

As the inclusion of the potential ordinary shares would result in a decrease in the loss per share they are considered to be antidilutive and, as such, a diluted loss per share is not included.

4. Called up share capital

The authorised share capital of the Company and the called up and fully paid amounts at 30 June 2008 were as follows:
£’000
Authorised

1,000,000,000 ordinary shares of 0.15p each 1,500

Called up, allotted, issued and fully paid Number of shares Nominal value
£000’s
As at 1 January 2007 309,751,248 465
7 August 2007 – part consideration for the acquisition of the remaining 30% of Brinkley Africa at 0.15p per share. 40,000,000 60
28 September 2007 – issued at par value to Summer Days Trading 3 (Proprietary) Limited in relation to the compensation and settlement agreement. 6,500,000 10
13 December 2007 – issued at par value, as part of Robert Croll’s remuneration package. 85,000 -
As at 31 December 2007 and 30 June 2008 356,336,248 535

BRINKLEY MINING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE SIX MONTHS ENDED 30 JUNE 2008

Total share options in issue

During the 6 months ended 30 June 2008, 12,000,000 options were issued.

As at 30 June 2008 the options in issue were;

Exercise Price Expiry Date Options in Issue
30 June 200
50p 5 June 2011 20,000,000
50p 27 June 2011 6,000,000
50p 13 September 2011 4,000,000
25p 26 January 2012 1,000,000
25p 5 April 2012 10,950,000
5p 3 April 2013 2,500,000
7p 3 April 2013 2,500,000
10p 3 April 2013 2,500,000
13p 3 April 2012 2,500,000
5p 3 June 2013 500,000
7p 3 June 2013 500,000
10p 3 June 2013 500,000
13p 3 June 2013 500,000
53,950,000

No options lapsed or were cancelled and no options were exercised during the 6 months to 30 June 2008.

Total warrants in issue

As at 31 December 2007 and at 30 June 2008 there were 1,523,756 on issue to subscribe for Ordinary shares at 50p expiring on 5 June 2011. All warrants are currently exercisable.

No warrants lapsed, or were cancelled and no warrants were exercised during the 6 months ended 30 June 2008.

5. Share based payments

Under IFRS 2 'Share Based Payments', the Company determines the fair value of options issued to Directors and Employees as remuneration and recognises the amount as an expense in the income statement with a corresponding increase in equity.

Name Date Granted Date Vested Number Exercise Price (pence) Expiry Date Fair Value at Grant Date (pence)
Richard Linnell 3 April 2008 3 April 2008 2,500,000 5 3 April 2013 0.0216
Richard Linnell 3 April 2008 3 April 2008 2,500,000 7 3 April 2013 0.0180
Richard Linnell 3 April 2008 3 April 2008 2,500,000 10 3 April 2013 0.0143
Richard Linnell 3 April 2008 3 April 2008 2,500,000 13 3 April 2013 0.0118
Dunbar Dales 3 June 2008 3 June 2008 500,000 5 3 June 2013 0.0235
Dunbar Dales 3 June 2008 3 June 2008 500,000 7 3 June 2013 0.0197
Dunbar Dales 3 June 2008 3 June 2008 500,000 10 3 June 2013 0.0158
Dunbar Dales 3 June 2008 3 June 2008 500,000 13 3 June 2013 0.0131
Total 12,000,000

The fair value of the options vested during the six months ended 30 June 2008 was £0.2 million. The assessed fair value at grant date is determined using the Black-Scholes Model that takes into account the exercise price, the term of the option, the share price at grant date, the expected price volatility of the underlying share, the expected dividend yield and the risk-free interest rate for the term of the option.
The following table lists the inputs to the models used for the six months ended 30 June 2008:
3 April 2008 issue 3 June 2008 issue
Dividend Yield (%) - -
Expected Volatility (%) 60 60
Risk-free interest rate (%) 4.80 4.80
Share price at grant date (£) 0.042 0.0445
The expected volatility reflects the assumption that the historical volatility is indicative of future trends, which may, not necessarily be the actual outcome.

BRINKLEY MINING PLC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE SIX MONTHS ENDED 30 JUNE 2007

6. Tangible assets

Land Property, plant & equipment Total
£ 000's £ 000's £ 000's
Cost
As at 1 January 2007 and 1 July 2007 7,511 302 7,813
Additions - 62 62
As at 31 December 2007 and 30 June 2008 7,511 364 7,875

Depreciation and Impairment
As at 1 January and 1 July 2007 - - -
Depreciation charge for the year - 59 59
Impairment charge for the year 5,000 - 5,000
As at 31 December 2007 5,000 59 5,059
Depreciation charge for the period - 76 76
Impairment charge for the period 2,250 - 2,250
As at 30 June 2008 261 135 7,385

Net Book Value
As at 30 June 2007 7,511 302 7,813
As at 31 December 2007 2,511 305 2,816
As at 30 June 2008 261 229 490
Impairment Review

At 30 June 2008, the Directors have carried out an impairment review and have subsequently written down the value of the land in relation to South Africa by £2.25 million. The Directors are of the opinion the carrying value of the Land in relation to South Africa are now stated at a fair value, which will be subject to an ongoing review as the Group’s strategic partnership within South Africa develops in the future.

7. Intangible assets

Group £ 000's

Cost
At 1 January 2007 2,240
Additions 1,954
At 30 June 2007 4,194
Additions 11,299
At 31 December 2007 15,493
Additions 2,208
At 30 June 2008 17,701

Impairment
At 1 January 2007 -
Impairment charge -
As at 30 June 2007 -
Impairment charge 6,000
As at 31 December 2007 6,000
Impairment charge 9,584
As at 30 June 2008 15,584

Net book value
At 30 June 2007 4,194
At 31 December 2007 9,493
At 30 June 2008 2,117

30 June 2008 30 June 2007 31 December 2007
The cost is analysed as follows; £ 000's £ 000's £ 000's

Deferred exploration expenditure 1,218 2,577 5,086
Commercial rights 899 1,617 4,407
2,117 4,194 9,493
Impairment Review

At 30 June 2008, the Directors have carried out an impairment review and have subsequently thought it prudent to provide for the following write downs:

- write down the value of the Commercial rights and deferred exploration expenditure in relation to the DRC by a further £6.30 million due to the uncertainty surrounding enforcement of the current agreements:

- write down the value of South African exploration assets by a further £2.70 million due to poorer than expected results and the limited number of licenses awarded to the Company to date.

- write down the value of Chad exploration assets by £0.55 million due to the findings of a review of the initial geological assumptions and the increased political risk profile for the country

The Directors are of the opinion the carrying value of the intangible assets in relation all areas are now stated at a fair value, which will be subject to an ongoing review as the Group’s strategic partnership within each country develops in the future.

8. Post balance sheet events
On 16 July 2008, the Company’s Nigerien partners in African Uranium exercised their put option to sell their 30 per cent interest in African Uranium to the Company at a price of US$1.75 million. All the transaction formalities were completed during July and African Uranium is now a 100 percent owned subsidiary of Brinkley Mining Plc.
9. Other
A copy of this announcement is available at the Company’s website www.brinkley-mining.com

Corporate Information

Registered number
5533856
Directors Richard Linnell – Non Executive Chairman
Dunbar Dales – Chief Executive Officer
Donald Strang – Finance Director and Company Secretary
Clayton Dodd – Non Executive Director
Zodwa Manase – Non Executive Director

Company Secretary Donald Strang

Registered Office Level 5, 22 Arlington Street
London SW1A 1RD
United Kingdom

Tel: +44 (0)20 7016 5108
Fax: +44 (0)20 7016 5101
Email: info@brinkley-mining.com
Website: www.brinkley-mining.com

Reporting Accountants Chapman Davis LLP Moore Stephens
2 Chapel Court 7 West Street
London SE1 1HH Houghton, Johannesburg 2198
United Kingdom South Africa

Solicitors Kerman & Co LLP Edward Nathan Sonnenburgs
200 The Strand 150 West Street
London WC2R 1DJ Sandton, Johannesburg 2146
United Kingdom South Africa

Nominated Advisor Beaumont Cornish Limited
5th Floor, 10-12 Copthall Avenue
London EC2 7DE
United Kingdom

Broker Arbuthnot Securities Limited
Arbuthnot House
20 Ropemaker Street
London EC2Y 9AR
United Kingdom2el: 020 7012 2000

Registrars Share Registrars Limited
Craven House
West Street, Farnham
Surrey GU9 7EN
United Kingdom

Principal Bankers Bank of Scotland
38 Threadneedle Street
London EC2P 2EH
United Kingdom

African Office 4 Fricker Road
Illovo Boulevard
Illovo, Johannesburg 2196
South Africa