Anglo Asian Mining increases its forecast for gold production in Azerbaijan

Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM-listed gold, copper and silver producer focused in Azerbaijan, provides its updated guidance for its turnover and production at its Gedabek gold, copper and silver mining and production contract area ("Gedabek") in western Azerbaijan for the year ending 31 December 2020 ("FY 2020"). Note that all references to "$" are to United States dollars.

The Group's revised FY 2020 production guidance is between 68,000 to 72,000 gold equivalent ounces ("GEOs"). As the Company previously advised in its RNS dated 14 October 2020, this reduction is mainly due to some underground development delays, resulting from the conscription of several engineering staff and slowed tunneling progress due to underground rock faulting. The Company can confirm that it is still on track to achieve turnover for FY 2020 of over $100 million.