RNS Number:7778M
Falkland Gold and Minerals Ltd
26 May 2005

26 May 2005

Falkland Gold and Minerals Limited

                                 AGM Statement

At Falkland Gold and Minerals Limited's first Annual General Meeting ("AGM")
this afternoon, Richard Linnell, Chairman, will make the following statement:

"Following an initial period of heavy investment in plant, machinery and
operational infrastructure, the Company is well placed to increase drilling
productivity in the coming months.

Drilling continued during April 2005 with over 1,300 metres completed on the
first three of the initial 9 priority targets identified during Stage I.
Drilling will now be focussed on the next 6 priority targets. Following its
successful commissioning in May, the second drill rig "Falklands 2" is expected
to achieve full output in June.

The sample preparation area is also fully operational and core samples are being
prepared for despatch to the ALS Chemex analytical laboratories in Perth. The
first results are expected towards the end of June 2005.

The GeoExplo Ltda survey team has completed the majority of the 1,500
line-kilometre programme on ground magnetic geophysics and moved to the West
Falklands in early May to finish the survey work there.

The Company is in a good financial position with over #8.4 million of cash
reserves available as at 31 March 2005. This will finance the planned 24,000
metre drilling programme covering all 23 targets identified during Stage I.

The interim results for the 6 month period to 31 March 2005 are due to be
released on 14 June 2005."

Further information:

Falkland Gold & Minerals Limited
Richard Linnell, Chairman                                        +27 82 440 6710


Bell Pottinger Corporate & Financial    
Nick Lambert                                                +44 (0) 20 7861 3232



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