World's largest mining company. Parent company and 53% owner of AngloGold, the world's #3 gold producer. Owns 60% of Anglo American Platinum, world's largest platinum producer. This company is primarily focused on base-metals in Mexico. Their prior Mexican experience was also through Minera Independencia, but there is not much to show from that effort. Anglo American plc now starting over in Mexico in 2002 with a new approach associating itself with juniors that have been there for years and have large scale targets too big to handle but worthy of a global mining giant.

Anglo American plc Group              [AAUK:NYSE]

Now operating through new subsidiary Anglo American Mexico S.A. de C.V.

Sierra Amaloya District, Chihuahua. Minera Faja de Plata S.A. de C.V. (“Faja de Plata”), a subsidiary of Western Copper Holdings Limited and Anglo American Mexico S.A. de C.V. (“Anglo”), a member of the Anglo American plc group of companies, have signed an option agreement covering concessions in the Sierra Almoloya region of Mexico whereby Anglo will undertake exploration on the properties. Under the agreement, Anglo has the option to earn an 80% undivided interest in the properties by making option payments totaling US$300,000 and expending US$1,750,000 for exploration, property taxes, assessment work and other property related expenditures staged over a 5 year period.  After exercising its option to earn the 80% interest, Anglo may proceed to have a bankable feasibility study prepared and will fund Faja de Plata’s share of the costs of such a study. If Anglo decides to proceed to production, Faja de Plata may elect to hold its 20% interest as carried or fully participating. If Faja de Plata elects to be carried, Anglo will receive 100% of the cash flow from the operation until it receives payback of all costs for the Feasibility Study and Pre-Production Funding with interest thereon at prime rate plus two (2%) percent.

Western Copper and Anglo have assembled a large ground position that totals over 14,500 hectares and covers the historic Almoloya Zn-Pb-Ag-Au mining district located some 40km east of Parral in southern Chihuahua State. The District is located along the intersection of 2 regional structures that host the operating Santa Barbara and Naica mines. Historically, mining in the District commenced from the 1850’s when oxide ores with exceptionally high contents of Zn, Pb, Ag and Au were mined principally from the Cigarrero and Saltillo mines, where grades of up to 25% Zn, 60% Pb, 12 oz/t Au and 25 oz/t Ag are reported. Regionally, widespread alteration in Cretaceous limestones and extensive mineral occurrences attest to a large hydrothermal system some 14km x 12km in extent and is highly prospective for both sulphide and oxide base metal deposits. Anglo will conduct a programm of geological and structural mapping, geochemistry and geophysics to develop targets for drill testing.

Press Release 25Nov02