Wits Basin Precious Minerals Inc reports that it has filed an answer and counterclaim to London Mining plc recently filed action in Hennepin County District Court, Minnesota. London Mining initially filed the subject complaint which was served against the Company on December 19 2011 seeking the repayment of USD 1,000,000 USD plus interest and costs of indebtedness.

The Company filed its answer asserting that not only is the indebtedness not yet due but that the Company is entitled to a court ordered damage award of at least USD 650,000,000 caused by London Mining actions and breaches of fiduciary duty related to its joint venture with London Mining in China Global Mining Resources.

The Company intends to vigorously assert its rights and remedies to the fullest extent of the law.