Repatriation of Funds

Griffin Mining Ld
21 June 2001

                            GRIFFIN MINING LIMITED



                            FOR IMMEDIATE RELEASE

                               21st June 2001.



                       REPATRIATION OF FUNDS FROM CHINA



Griffin Mining Limited ('Griffin') today announces that it has been able to
repatriate over $200,000 from the Peoples Republic of China in a timely manner
without deduction of any taxes. These funds were forwarded as part of the
procedures for the making of capital contributions by Griffin to its local
joint venture in the Peoples Republic of China, the Hebei Hua' Ao Mining
Development Company. The prompt repatriation of these funds from China without
any difficulties reaffirms Griffin's position of the ability to repatriate
funds from China freely. This augurs well for the free transfer of funds from
China from earnings from the Caijiaying mine when it enters into production.



Further information



Roger Goodwin - President             Telephone: [phone]

Charles Dampney - Charles Stanley     Telephone: [phone]



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