Exercise of Options

Griffin Mining Ld
21 July 2006




                            Griffin Mining Limited

                              Exercise of Options

Griffin Mining Limited ('Griffin' or the 'Company') has been notified of the
exercise of share purchase options over 200,000 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 26th July 2006. Following the issue of these new
ordinary shares there will be 184,061,064 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




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