Company Information for Griffin Mining Ltd

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Company Statement

Griffin Mining Limited ("Griffin" or "the Company") has constructed the first new foreign owned and operated mine and processing plant in China at Caijiaying, which currently produces around 50,000 tonnes of zinc concentrate per annum together with gold, silver and lead. The mine and processing facilities are being further devloped to significantly increase current production rates.

Griffin has been the leader in foreign investment in mining in China having been engaged in developing the Caijiaying zinc gold project since 1997. Caijiaying is located in the Hebei Province, some 200 km north west of Beijing. Griffin's local subsidiary company, the Hebei Hua-Ao Mining Development Company ("Hua-Ao"), was the first foreign controlled entity to receive an exploration licence in the Peoples Republic of China and the first to be awarded a new mining licence over a metal deposit in China, as well as being the first to construct a new mine.

Griffin is a Bermuda Company whose shares are traded on the Alternative Investment Market of the London Stock Exchange. Its principal office is in London and the majority of its shareholders are British, with over 3,000 shareholders and over 50% of its shares held by mainly London based financial institutions.

Current Operations

CAIJIAYING ZINC-GOLD MINE
Griffin Mining Ltd, through two joint ventures, has a controlling interest in mining and exploration licences over 67 square kilometres in the Caijiaying area of the Hebei Province in the Peoples Republic of China.

Caijiaying is located approximately 200 km north west of Beijing in the Hebei Province in the PRC. The site is easily accessible by sealed road, which runs to the site, has adequate water supplies available from underground sources and is connected to the electricity grid. The Caijiaying area is on the south-east edge of the Mongolian Plateau.

Considerable planning and capital expenditure has been undertaken to further increase production. This work is ongoing with the installation of, inter alia; a new backfill plant, more floatation cells, a new crusher and a third ball mill as well as significant enhancement to site infrastructure. This should enable processing capacity to be increased from approximately 500,000 tonnes of ore per annum to 750,000 tonnes of ore per annum.

On-going exploration in the area surrounding the mine at Caijiaying and within Hebei Hua’ Ao’s and Hebei Sino Anglo’s tenement boundary confirms that the area is highly prospective, indicating significant potential for further economic base and precious metals mineralisation. Considerable progress was made in defining a resource at Zone II at Caijiaying some 1.5 kilometres to the south of the mine at Zone III with a maiden Mineral Resource estimate to JORC reporting standards of 5.49 million tonnes of 3.2% zinc, 0.6% lead, 0.3 grams per tonne gold and 24 grams per tonne silver. Further resources are expected to be defined at Zone II, in particular, as underground drilling moves northwards towards Zone III. This should provide additional ore for the processing facilities at Caijiaying.  

Geographical Spread

China

Board of Directors and Key Management

Mladen Ninkov	(Chairman)
Roger Goodwin	(Group Finance Director)
Dal Brynelsen	(Non executive director)
William Mulligan	(Non executive director)
Dominic Claridge	(Project Manager)
Timothy Blyth	(Operations Manager Caijiaying)

Company Address 6th Floor 60 St James's Street London, United Kingdom SW1A 1LE Telephone: +44 (0)20 7629 7772 Facsimile: +44 (0)20 7629 7773 Email: griffin[at]griffinmining.com Website: http://www.griffinmining.com

Additional Address/Key Contact Registered Office Clarendon House 2 Church St. Hamilton, HM11 Bermuda Zhangjiakou Office No. 25 Mingde South Road Zhangjiakou City Hebei Province, China

Capital Shares Issued & Outstanding 181,657,731

Annual General Meeting June

Year End December 31

Nominated Brokers Investec Bank (UK) Ltd Ocean Equities Limited

Nominated Advisors Investec Bank (UK) Ltd

Major Shareholders

Black Rock Inc has an aggregate interest in 23,598,520 shares in the Company representing 12.99% of the issued ordinary shares in the Company.

Majedie Asset Management Ltd has an aggregate interest in 9,520,258 shares in the Company representing 5.19% of the issued ordinary shares in the Company.

Related News

15/12/09 - Griffin Plans To Be Digging Deeper And Richer Ore At Caijiaying Very Shortly
03/06/09 - Griffin Mining Re-Opens The Caijiaying Mine In China, Just In Time To Capitalize On A Strengthening Zinc Price
31/03/09 - Griffin Mining Casts A Predatory Eye Over Ivernia’s Magellan Lead Mine In Australia
20/11/08 - Griffin Mining Goes Into The Lignite Business, And Still Has $70 Million Left Over For Other Deals
23/04/08 - Griffin Mining Rides To The Rescue Of Canadian-listed Yukon Zinc
20/04/08 - Griffin Mining Still Sitting On A Huge Cashpile And Working On Deals

Most Recent Statement

03/03/10 - Updated JORC mineral resource for Zone III at Caijiaying
15/02/10 - Trading Statement
26/01/10 - New Mining Licence issued
27/10/09 - Griffin Mining announces that a Mining License application has been statutorily completed, lodged and accepted.
07/07/09 - Appointment of Joint Broker
03/04/09 - GRIFFIN WITHDRAWS PROPOSED TAKEOVER OF IVERNIA INC