Company Information for Cambridge Mineral Resources Plc

AIM-CMR

www.cambmin.co.uk

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AIM; CMR

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Company Statement

Cambridge Mineral Resources plc is an AIM listed mining and exploration company focussed on becoming a producer of precious metals with an output equivalent to 100,000 oz gold per annum.

Primarily targeting precious metals in South America, its strategy is to acquire established resources at advanced stage exploration or near term production and develop them to economically mineable reserves through further exploration.

Current Operations

COLOMBIA
CMR has to date acquired five gold mine projects within the world-class Frontino Gold Belt in the Antioquia department of north-western Colombia. Acquisitions are via majority interest joint-venture options, allowing CMR to fully evaluate each mine before a production decision is made. Mines are being evaluated via exploration and actual development in order to establish economic ore reserves prior to production.

At the Quintana Gold Mine, an independent feasibility study was completed in 2007, which defined a resource of 109,582 tonnes at 24.58g/t gold and 19.85g/t silver (measured, indicated and inferred) containing 86,822 ozs gold, which has since been expanded by further drilling and underground development. The project is estimated to have an NPV of $10.8M, based on a 50t/d operation over 5 years and at a gold price of $600 per oz. It has a capital requirement of $4.54M with an average cash cost of $131/oz over the mine life.

In January 2008 the Company secured a finance facility of $15M to develop Quintana and two further mines. Work commenced on site at Quintana during Q1 2008 and development activities on surface have seen the completion of a 5.1km access road to the mine site and work on the construction of a Tailings Management Facility. The Company anticipates production to commence at Quintana by the end of 2008 at an annual rate of ~15,200 ozs of gold and 6,000 ozs of silver.

In addition to its Quintana Gold Mine, CMR has two other main projects located in the Frontino Gold Belt; El Cinco, where CMR completed the negotiation of the Colina Negra Project, to give it majority interest in a contiguous block of 7,400 hectares around the El Cinco and Colina Negra mines, and La Rosaleda, which comprises 566.2 hectares to the immediate south of Frontino Gold Mines in the Segovia-Remedios area.

Expressions of interest and confidentiality agreements have been signed with a number of major companies regarding land holdings in the Three Hills area of south-west Colombia. The Three Hills project comprises 35,135 hectares of exploration territory situated in within the prolifically-mineralized Andean copper-gold porphyry belt, which contains some of the largest copper deposits in the world, but which is as yet relatively unexplored.

PERU
CMR’s holds a 100% interest in the Patacancha claim group, located in the Ccarhuaraso District, which contains a number of gold-silver bearing veins representing the uppermost portions of a much larger alteration zone with potential for porphyry style copper-gold mineralization at depth.

CMR is currently developing the Rasuhuilca mine and has recently completed a feasibility study on the project. The results of the study which were announced in August 2008 showed expected yields of circa 1,000,000 ounces of silver and 15,000 ounces of gold, generating after tax profits of approximately US$9 million (calculated using spot prices as at the time of the study - silver US$ 14.50/oz, and gold US$ 900/oz). The feasibility study indicated that mine development would be completed within 12 months.

BALKANS
In Bulgaria CMR has seven licences (229km²), including Tashlaka Hill (JORC indicated resource of 250,000oz gold) and Chaira (Bulgarian state resource of 457,000oz gold). Four of these properties are under a joint venture with Electrum Gold Inc. who can earn up to an 80% interest by spending US$2.2M over 5 years. Three of these licenses have recently been granted to the joint venture operating company Caracal Cambridge Bulgaria EAD.. The permits cover three areas: Sredogriv covering 70.2km2 and Gorni Lom covering 44.58km2 in the Vidin District and Zabernovo in Burgas District covering 65.0km2. Recently, the joint venture successfully completed a drilling programme on its Dobrosolets project.

CMR also holds a uranium resource of 1.5M pounds U308 on its Dobroselets project, and has seven further uranium projects currently under application.

SPAIN
Within the Iberian Pyrite Belt of south-western Spain CMR wholly-owns the gold-rich polymetallic deposit at Lomero-Poyatos. In addition CMR has acquired two permits covering an area of 38.71km² over the Masa Valverde polymetallic volcanic-hosted Massive Sulphide deposit, which hosts defined massive sulphide and cupriferous stockwork deposits. CMR estimates these deposits to have geologic resources of over 100 million tonnes. Twenty three holes have been drilled at a spacing of approximately 100m. These have intersected up to 180m of massive sulphide and up to 111m of stockwork mineralization. The average thickness of the massive sulphide intersections is about 70m and the average for stockwork mineralization is about 90m. Potential exists for the upgrading and extension of the stockwork mineralization. Potential also exists for a high grade deposit in the adjacent area of the massive sulphide mineralization.

CMR is in discussion with third-parties regarding opportunities to advance its Spanish projects by way of joint venture or divestment

Geographical Spread

Colombia
Peru
Bulgaria
Spain

Board of Directors and Key Management

Mr.Neil MacLachlan	Chairman Non-Exec
Mr.Colin Andrew	Managing Director
Mr.Michael Burton	Finance Director
Ms.Nevyanka Mateeva	Non-Exec Director

Company Address

10 Fenchurch Avenue
London, United Kingdom EC3M 5BN


Telephone:	+44(0)207 663 5618
Facsimile:	+44(0)207 663 5700
Email:	office[at]cambmin.co.uk
Website:	http://www.cambmin.co.uk

Annual General Meeting

TBA

Year End

31 December

Nominated Brokers

Haywood Securities
Hichens, Harrison & Co.

Nominated Advisors

Ruegg & Co.

Major Shareholders

Allianz SE	35,000,000,000	8.46%
TD Waterhouse	31,107,582	9.51%
Barclays	27,673,503	8.46%

Most Recent Statement

31/12/08 - Total Voting Rights
12/12/08 - Placing
20/11/08 - Gold Production Commences at Quintana, Colombia
07/11/08 - Issue of Equity & Directors Share Purchases
25/09/08 - Interim Results
16/09/08 - Bulgarian Joint Venture Exploration Update

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