RNS Number:9416K
Toledo Mining Corporation PLC
25 October 2006



25 October 2006


                         TOLEDO MINING CORPORATION PLC
                           "Toledo" or "the Company"


        BERONG NICKEL PROJECT GRANTED PRIORITY MINING DEVELOPMENT STATUS


The directors of Toledo Mining Corporation plc (AIM : TMC) advise that the
Berong Nickel Project (BNC) has been granted priority development status, and is
now included among the priority mining development projects monitored by the
Mines and Geosciences Bureau (MGB) under the Mining Revitalization Program of
the Philippines. Priority projects can expect full support and facilitation on
permits and other government documents requiring approvals, as well as speedy
action to resolve any impediments to project execution. Priority Project Status
was granted to BNC by the MGB Director, Horacio C Ramos.


The Berong Nickel Project is a Joint Venture between Toledo Mining Corporation
Plc, Atlas Consolidated Mining & Development Corporation, and Investika Ltd.


As previously reported, the development of the mine site and associated
infrastructure is nearing completion as activities focus on the extraction of a
bulk metallurgical sample of approximately 30,000 dry metric tons (equivalent to
approximately 45,000 wet metric tons) at a grade of approximately 1.7% (includes
10% dilution). To date, approximately 4,000 wet metric tons of ore has been
mined and placed on the coastal stockpiles. Shipment to customer(s) is expected
around mid November 2006.


Commercial mining operations are expected to commence in November/December and
are dependent upon attaining the necessary final approvals from the Philippine
Government. An export target of 80,000 to 90,000 dmt of ore has been set for
2006, 620,000 dmt for 2007, and 1M dmt in 2008 and beyond. The grade of laterite
ore to be mined in the first year of operations is estimated to average
approximately 1.9% nickel. Some shipment grades above 2% nickel can be expected
in the early years.


Mr. George Bujtor, CEO of Toledo Mining Corp, commented, "The full support of
The Department of Environment and Natural Resources (DENR) has enabled the rapid
development of the Berong Nickel Project, and the granting of priority project
status will help us to maintain our momentum as we build production to 1 million
dmt per year".


George Bujtor, Chief Executive Officer of Toledo Mining, is a member of the
Australasian Institute of Mining and Metallurgy and is the qualified person that
has reviewed and approved the technical information contained in this
announcement.


About Toledo Mining Corporation plc:

Toledo Mining is a mining company focused on nickel exploration and development
in the Philippines.  It holds a 56.1% economic interest in the Berong nickel
project; a 52% economic interest in the Ipilan nickel project; and a 58%
economic interest in the Ulugan nickel project.


For further information contact:


Annie Richards, Toledo Mining Corporation plc:              +44 (0) 20 7514 1480

Charles Vivian, Pelham Public Relations                     +44 (0) 20 7743 6670

Hugh Oram, Nabarro Wells                                    +44 (0) 20 7710 7400



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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