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Overall, the net assets of the Group at December 31, 2011 were overstated by GBP 10.7million as a result of this overpayment and the corresponding impact on the coal royalty valuation. The value of the coal royalty was GBP 9.2million less when taking into account roads over the remaining portion of the private royalty ground which has yet to be mined. Trade and other payables now reflect an amount owing to the mine operator as a result of these overpayments and the associated interest charge. The deferred tax balance has been recalculated based on the new coal royalty valuation and also reflects a credit to the group arising on the payment of tax on the previously overstated revenue.

2. Earnings per share

Earnings per ordinary share is calculated on the Group's profit after tax of GBP 10,057,000 (2011: GBP 36,280,000 (restated)) and the weighted average number of shares in issue during the year of 108,540,723 (2011: 108,263,282).

The diluted earnings per ordinary share is calculated on the Group's profit after tax of GBP 10,057,000 (2011: GBP 36,280,000 (restated)) and 108,544,883 shares (2011: 108,274,402). The dilutive effect is due to options outstanding under the Company Share Option Plan at the year end.

3. Events occurring after year end

On February 8, 2013, an investee company in which the Group holds both secured and unsecured mining and exploration interests filed for protection under a corporate reconstruction based on a shortage of liquidity.

As at December 31, 2012, the Group's mark to market losses on the unsecured interest was GBP 3.7million. In light of the investee company's filing on February 8, 2013, management consider the fall in the market value of the investee company at December 31, 2012 to be impaired and have recognised these losses through "other losses" in the income statement.

The Group considered that there was sufficient recourse attached to the secured interest and as such, no impairment was considered necessary as at December 31, 2012.

4. Status of financial information

This preliminary announcement does not constitute the Group's full financial statements for 2012. This report is based on accounts which are in the process of being audited and will be approved by the Board and subsequently filed with the Registrar of Companies. Accordingly, the financial information for 2012 is unaudited and does not have the status of statutory accounts within the meaning of Section 435 of the Companies Act 2006.

Financial information for the year to December 31, 2011 prior to restatement has been extracted from the full financial statements prepared under the historical cost convention, as modified by the revaluation of coal royalties, available-for-sale financial assets, and financial assets and financial liabilities (including derivative instruments) at fair value through profit or loss, as filed with the Registrar of Companies. The Auditors' report on the full financial statements for the year to December 31, 2011 was unqualified and did not contain statements under section 498(2) of the United Kingdom Companies Act 2006 (regarding adequacy of accounting records and returns), or under 498(3) (regarding provision of necessary information and explanations).

Standards of disclosure for mineral projects

National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") contains certain requirements relating to the use of mineral resource and mineral reserve categories of an "acceptable foreign code" (as defined in NI 43-101) in "disclosure" (as defined in NI 43-101) made by Anglo Pacific Group PLC with respect to a "mineral project" (as defined in NI 43-101), including the requirement to include a reconciliation of any material differences between the mineral resource and mineral reserve categories used under an acceptable foreign code and the standards developed by the Canadian Institute of Mining, Metallurgy and Petroleum, as the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, as amended (the "CIM Standards") in respect of a mineral project. Pursuant to an exemption order granted to Anglo Pacific Group PLC by the Ontario Securities Commission (the "Exemption Order"), the information contained herein with respect to the Four Mile Uranium Project, the Ring of Fire Project, the Jogjakarta Iron Sands and Pig Iron Project and the Tucano Project has been extracted from information publicly disclosed, disseminated, filed, furnished or similarly communicated to the public by an issuer whose securities trade on a "specified exchange" (as defined under NI 43-101) that discloses mineral reserves and mineral resources under one of the JORC Code, the PERC Code, the SAMREC Code, SEC Industry Guide 7 or the Certification Code (each as defined in NI 43-101). As the definitions and standards of the JORC Code, the PERC Code, the SAMREC Code, SEC Industry Guide 7 and the Certification Code are substantially similar to the CIM Standards, a reconciliation of any material differences between the mineral resource and mineral reserve categories reported under the JORC Code, the PERC Code, the SAMREC Code, SEC Industry Guide 7 and the Certification Code, as applicable, to categories under the CIM Standards is not included and no Form 43-101F1 technical report will be filed to support the disclosure based upon such exemption.

Alliance Resources Limited, Indo Mines Limited and Beadell Resources Limited are all listed on the Australian Securities Exchange and report in accordance with the JORC Code. Cliffs Natural Resources Inc. is listed on the New York Stock Exchange and reports in accordance with SEC Industry Guide 7.

Cautionary note to U.S. investors concerning estimates of measured, indicated and inferred resources: Certain technical disclosure in this press release has been prepared in accordance with the requirements of Canadian securities laws, including NI 43-101, in certain cases as modified by the Exemption Order referred to above, which differ from the requirements of U.S. securities laws. This press release uses the terms "measured resources", "indicated resources" and "inferred resources". U.S. investors are advised that while such terms are recognised and required by Canadian Securities laws, the Securities and Exchange Commission does not recognise them. "Inferred resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will be upgraded to a higher category. Under Canadian Securities laws, estimates of inferred resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of measured resources or indicated resources will ever be converted into reserves. U.S. investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.



Contacts:
Anglo Pacific Group PLC
John Theobald
Chief Executive Officer
+44 (0) 20 3435 7400

Anglo Pacific Group PLC
Chris Orchard
Chief Investment Officer
+44 (0) 20 3435 7400

Anglo Pacific Group PLC
Kevin Flynn
Chief Financial Officer
+44 (0) 20 3435 7400
www.anglopacificgroup.com

Liberum Capital
Chris Bowman
+44 (0) 20 3100 2000

Liberum Capital
Christopher Kololian
+44 (0) 20 3100 2000

Pelham Bell Pottinger
Lorna Spears
+44 (0) 20 7861 3232

Pelham Bell Pottinger
James Macfarlane
+44 (0) 20 7861 3232