Amazon Mining Reports Q2 Results and Company Updates

Amazon Mining Holding Plc (TSX: Venture: AMZ) ("Amazon" or the "Company") announced today its unaudited interim consolidated financial statements for the three month and six-month period ended June 30, 2008.Reports indicated for the three-month period ended June 30, 2008 the net loss increased substantially to £2,205,719 from a loss of £43,941 compared to the three month period ended July 31, 2007. For the six-month period ended June 30, 2008 the net loss increased to £2,666,426 from a loss of £130,210 compared to the six-month period ended July 31, 2007. The loss widened during Q1-2008 due to the commencement of active exploration activities late in December 2007.

Q2 2008 and Subsequent Period Summary:
- Project generation continues defined by a strategy that aims to measure reward versus risk in rilling is scheduled to commence during Q3-2008;
- Tocantins Gold Project: Despite the encouraging initial results from the first phase diamond drilling program, subsequent detailed ground magnetic geophysics, auger drilling and soilsampling proved disappointing prompting the discontinuation of the project;
- Lavras Gold Project: Results from the first phase diamond drilling program were determined to fall below economically extractable concentrations and the project was discontinued;
- Terra Branca Diamond Project: Prospective project economics have been negatively impacted by the appreciation of the Brazilian Real and attempts to vend or joint venture the property to a third party were significantly hampered by current adverse market conditions. The project was discontinued to avoid ongoing onerous property payments;
- Exploration expenditures for Q2-2008 aggregated to £771,293 up from £442,070 in preceding Q1-2008; and
- Jed Richardson was appointed Vice President, Corporate Development to strengthen management presence in Toronto and assist with project evaluation.

Amazon currently has working capital position of approximately £4.8MM (Cdn$9.5MM ) putting the Company in a strong position to advance the Madeira project and investigate new opportunities.

Commenting, President & CEO, Cristiano Veloso, said: “We look forward to potentially very exciting months ahead. Amazon’s initial portfolio was assembled with a very limited budget, thanks to a strong presence in Brazil in a market favourable to gold exploration. In recent months we have added new capacity in project evaluation, and consider the Company well equipped to secure value building opportunities in Brazil.”

About Amazon

Amazon is listed on the TSX Venture Exchange and is a mineral exploration company engaged in acquiring and developing gold exploration properties in Brazil. Its strategic focus is to acquire projects with demonstrated potential for hosting gold deposits and to define resources through
exploration and drilling campaigns.

On behalf of the Board of Directors of Amazon Mining Holding Plc,

Cristiano Veloso, President & Chief Executive Officer

For additional information please contact:

Cristiano Veloso, President & Chief
Executive Officer

Tel: +44(0)20 8133 7607;Fax: +44(0)20 7405 777; Email: cv@amazonplc.com

Jed Richardson, VP Corporate Development

Tel: +1(416) 866-2966; Fax: +1(416) 967-9393; Email: jed@amazonplc.com

www.amazonplc.com

Cautionary Language and Forward Looking Statements

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE AND THE INFORMATION CONTAINED HEREIN. THIS PRESS RELEASE CONTAINS CERTAIN “FORWARD LOOKING STATEMENTS”, WHICH INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL,GOVERNMENT REGULATIONS OF MINING OPERATIONS,ENVIRONMENTAL RISKS,RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS “PLANS”, “EXPECTS”, OR “DOES NOT EXPECT” OR “IS EXPECTED”, “ANTICIPATES” OR “DOES NOT ANTICIPATE”, OR “BELIEVES”, “INTENDS”, “FORECASTS”, “BUDGET”, “SCHEDULED”, “ESTIMATES” OR VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS,EVENT, OR RESULTS “MAY”, “COULD”, “WOULD”, “MIGHT”, OR “WILL BE TAKEN”,“OCCUR” OR “BE ACHIEVED”. FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS,UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS,PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS.

Readers are cautioned not to rely solely on the summary of such information contained in this release and are directed to the complete set of drill results posted on Amazon’s website (www.amazonplc.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein.