AGRICOLA RESOURCES - PRESS RELEASE 25th February 2008

GRANTED A NICKEL EXPLORATION LICENCE AT RIIKALAHTI IN THE KIRUNA AREA, NORTHERN SWEDEN

Target is Nickel-Copper sulphides in layered Gabbro-Pyroxenite Area size 1150 hectares Previous drilling confirms copper, nickel and platinum group metals in bedrock 25th February, 2008. Agricola Resources plc ("Agricola"), the PLUS-traded mineral exploration company with projects in Sweden and Finland for nickel, copper and uranium and is pleased to announce that a new exploration licence have been granted by the Swedish state mining authority, Bergsstaten. The licence area is called Riikalahti nr 1 and covers 1150 hectares. It is located about 40 kilometres north of the town centre of Kiruna, Norrbotten County in Northern Sweden. The area is relatively lightly forested. Access by field vehicles and drill rigs is best in the winter months as there are no local forestry roads within the licence area. The area is occupied by a large layered mafic-ultramafic intrusive approximately 4 x 3 kilometre in size. The prospect area was discovered and surveyed by the Swedish state-owned company LKAB Exploration AB in the 1970 - 80s by exploration work. Some geophysical targets were tested by limited diamond drilling comprising seven holes totalling 968 metres. Mineralized boulders with grades up to 0.8% of copper and 0.3% of nickel were found in the area. Scout drilling revealed best grades in a drill hole in gabbroic rock, containing 0.35% cobalt, 0.18% of nickel and 0.21% copper over a narrow sulphide rich section. This hole also contains 0.43 grams per tonne of platinum plus palladium over a 1 m section. In the central part of the licence area a zone covering 2000 m by 300 m has recorded soil samples values from 200 to over 1000 ppm nickel and up to 1500 ppm copper. This zone has not been drill tested. From the exploration data available and the large size of the layered intrusive Agricola considers that the Riikalahti area is of interest to host potential deposits of nickel and copper-bearing sulphides with platinum group metal credits. Further work will include ground geophysical surveys (magnetics and electromagnetic (EM)) and follow-up diamond drilling. RIIKALAHTI Nickel licence area Feb, 2008, Kiruna area, Norrbotten, N. Sweden Licence area on topographic base map with DDH locations Fig.1 Contact : Dr. Robert Young, Chairman Agricola Resources plc Tel: +44 (0) 1353 649 701 Coporate Adviser: St Helen's Capital Plc Duncan Vasey Tel: +44 (0)20 7628 5582   Email this Page