RNS Number:1227D
Toledo Copper Corporation PLC
20 September 2004

20 September 2004



                         TOLEDO COPPER CORPORATION PLC



The Directors of Toledo Copper Corporation plc (AIM: "TCU") are pleased to
announce they have today completed the private placement of 220m shares at 2p
per share to raise #4.4 million (before costs).  The placement was
oversubscribed.



This capital raising completes the funds required to bring the Company's Berong
nickel project into production and positive cash flow.



The Company is advised by Behre Dolbear that their final technical audit of the
bankable feasibility study of the Toledo copper mine will be complete within the
next three to four weeks.



It is the intention of the directors, following the Company's acquisition of its
interests in the Berong and Celestial nickel projects, to investigate all other
options to finance the Toledo copper mine without resorting to further equity.



Pursuant to this Placing, the directors of Toledo Copper Corporation plc, have
interests in ordinary shares in the Company as set out in the table below.


Director                                      Interest in ordinary      Percentage of issued
                                              shares following the      ordinary share capital
                                                  Placing              (following the Placing)
Chris Kyriakou                                    50,000,000                     7.42%

Merfyn Roberts                                    10,000,000                     1.48%

(interest held through Absolute Resources LP)
Roger Shakesby                                            -                         -%



Chris Kyriakou
Executive Chairman



For further information contact:


Annie Richards             Toledo Copper Corporation plc              Tel:  0870 010 6044
Hugh Oram                  Nabarro Wells & Co Ltd                     Tel:  020 7710 7400



The directors of Toledo Copper Corporation plc accept responsibility for this
announcement.






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

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