Exercise of Options

Griffin Mining Ld
16 June 2006



                              GRIFFIN MINING LIMITED
             60 St James's Street, London SW1A 1LE, United Kingdom
       Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773
                       E mail: [e-mail]

                                 16th JUNE 2006


Griffin Mining Limited ('Griffin' or the 'Company') has been notified of the
exercise of share purchase options over 33,333 new ordinary shares in Griffin at
an exercise price of 30 pence per share.  These options were granted in March
2004 as part of the grant of options to key employees.

Application has today been made for the new ordinary shares issued on the
exercise of the aforementioned options to be admitted to trading on AIM, which
is expected to occur on 22nd June 2006. Following the issue of these new
ordinary shares there will be 183,861,064 Griffin ordinary shares in issue.


Further information

Mladen Ninkov - Chairman                           Telephone: [phone]
Roger Goodwin - Finance Director
Griffin Mining Limited

Adrian Hadden / Christopher Rollason               Telephone: [phone]
Collins Stewart Limited

Hugo de Salis                                     Telephone: [phone]
St Brides Media & Finance Ltd



Griffin Mining Limited's shares are quoted on the Alternative Investment Market
                (AIM) of the London Stock Exchange (symbol GFM).

      The Company's news releases are available on the Company's web site:
                             www.griffinmining.com




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