ANNOUNCEMENT London 7 June 2010: Ascot Mining Plc ("Ascot" or the "Company") (Plus Markets ASMP & Xetra(R) AM3.DE) wishes to confirm that the Company and Mineral Hill Industries Ltd.

("MHI"), a Canadian company listed on the Toronto Stock Exchange (TSX.v) under the symbol MHI, are continuing with their previously announced discussions to determine whether there is a mutually beneficial basis for pursuing a business combination.

Since this announcement on 19 May Mineral Hill has acquired an additional Lithium property making Mineral Hill the second largest holder of Lithium prospects in Canada. On the 2nd June 2010 MHI announced "Following the acquisition of the "Canadian and Martin Mc Neely Property" on May 26th, 2010, the Company has become the second largest land holder next to Canada Lithium in Val dOr, Quebec.

The Canadian and Martin Mc Neely property is located approximately 40 kilometers northwest of the mining town of Val dOr and approximately 700 meters east- southeast of the old Quebec Lithium Mine property boundary line.

In addition to the Canadian and Martin McNeely property Mineral Hill owns three other Quebec lithium properties (Chubb, International and Athona) consisting of 61 mineral claims covering 2333.45 hectares." Ascot and MHI are jointly pursuing an additional North American gold property that is production ready and will provide an update on this shortly. Ascot is already mining ore and has commenced initial production of gold at its properties in Costa Rica where the Company has gold mines and a milling operation.

Ore mill feed has been secured by acquiring and rehabilitating formerly producing concessions as well as contracting for additional ore supplies.

The Company is intensifying its efforts to maximize its existing projects within Costa Rica and is aggressively pursuing opportunities in other jurisdictions where it is in acquisition negotiations. David Jackson, the CEO of Ascot Mining, says "The Company is encouraged with the progress of these discussions with Mineral Hill as they demonstrate Ascots stated strategy of pursuing opportunities to broaden its property portfolio with quality projects and to benefit from additional experienced management." The Directors take responsibility for this announcement. Enquiries: Damien Daly + 44 (0) 7880 55 46 47 Email: Website: www.ascotmining.com Mineral Hill: Telephone: +1 604 685 4170 Website: www.mineralhill.com
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