Issue of Equity

RNS Number:1601O
BDI Mining Corp
18 December 2006

                                                         London office:
                                                         Level 5
                                                         22 Arlington Street
                                                         London SW1A 1RD
                                                         England
                                                         T: +44 (0) 207 016 5106
                                                         F: +44 (0) 207 016 5101                                    
NEWS RELEASE


                                ISSUE OF EQUITY

LONDON - 18th December 2006 - BDI Mining Corp. ("the Company") announces that it
has issued 2.90 million Common Shares in the Company at a price of 29 pence per
share to Ocean Resources Capital Holdings plc, in exchange for the cancellation
of a US$2.5 million non-interest bearing loan to Ashton-MMC Pte Ltd, a Singapore
registered subsidiary of BDI Mining Corp.


The cancellation of the above loan in exchange for 2.90 million Common Shares at
29 pence per share represents an approximate 35% discount to the value of the
loan using an exchange rate of #1.00 / US$1.90. This agreement enables the
Company to fully receive its share of the cash flow generated from the Cempaka
mine as production increases from Phase II expansion of operations. The issued
shares rank pari passu with all other shares. Application has been made for
these shares to be admitted to trading on AIM and it is expected that such
admission will become effective at 8am on 22nd December, 2006.


In addition, an application has been made for the admission of 4 common shares
of the Company to trading on AIM. The 4 shares were issued to correct a
discrepancy that arose when the Company's shares were transferred from the CDS
System in Canada to CREST, following the delisting of BDI Mining Corp's shares
from the TSXV Exchange in Canada, and subsequent continuation of corporate
jurisdiction to the British Virgin Islands. It is expected that admission of 
these shares will also become effective at 8am on 22nd December, 2006.




BDI Mining Corp is an Asia-Pacific focused mining and exploration Company whose
primary assets are the Cempaka alluvial diamond mine in Indonesia, and the
100%-owned, advanced Woodlark Island gold project in Papua New Guinea.



For further information, please contact:

BDI Mining Corp.
David Lenigas (Chairman)                      Tel: +44 (0) 788 182 5378
Martin Horgan (Director)                      Tel: +44 (0) 777 867 0342

General email                                 info@bdiminingcorp.com
Website                                       www.bdiminingcorp.com

Ruegg & Co. (AIM Nominated Advisor)
Brett Miller                                  Tel: +44 (0) 20 7584 3663

Hichens, Harrison & Co. (Joint AIM Broker)
Dave Paxton/Adam Wilson                       Tel: +44 (0) 20 7382 4473

WH Ireland Ltd. (Joint AIM Broker)
Philip Haydn-Slater                           Tel: +44 (0) 20 7220 1690

Parkgreen Communications
Justine Howarth / Ana Ribeiro                 Tel: +44 (0) 20 7493 3713




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

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