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Toledo Mining Grant of Options

RNS Number:5394O
Toledo Mining Corporation PLC
22 December 2006

TOLEDO MINING CORPORATION PLC
GRANT OF OPTIONS

The directors of Toledo Mining Corporation plc (AIM:TMC) advise that the Company
has granted options to subscribe for an aggregate of 620,000 new ordinary shares
in the Company to directors, management and staff. The options expire on 30
November 2011 (subject to that under the plan, unless exercised, the options
expire 90 days from the date the grantee ceases to be an Executive of the
Company) and may be exercised at any time up to their expiry date. The options
have an exercise price of #1.50 per share.

Options granted to the directors are as follows:

Chris Kyriakou 50,000
George Bujtor 150,000
Robert Cleary 100,000