Drilling Report

11 June 2008 Ormonde Mining plc Tungsten Testwork Results Highly Encouraging New High Grade Tungsten Drilling Results DUBLIN & LONDON: 11 June 2008 - Ormonde Mining plc ("Ormonde" or the "Company") reports highly encouraging results of the Stage 2 metallurgical testwork at its Barruecopardo Tungsten Project, Spain. The Company also reports high-grade drilling results showing good continuity of tungsten mineralisation in an area selected as a possible initial mining block. Metallurgical Highlights * Metallurgical testwork indicates that the liberation characteristics of the tungsten mineralisation are excellent, with high recoveries of tungsten to a gravity pre-concentrate being achieved at coarse crush sizes * The best result has been achieved from the Filon Principal Zone where gravity tests yielded a recovery of 88% of contained tungsten trioxide (WO3) to a pre-concentrate grading 49% WO3 * The Filon Central and Filon Maestro Zones have also provided extremely good results with recoveries of 71% to 88% being achieved to a pre-concentrate * These results lead the Company to believe that high recoveries will be achieved to a final concentrate in a gravity processing plant Drilling Highlights * Six holes were drilled in the area immediately north of the historic open pit to better define a possible initial mining block in the Filon Principal Zone; results show that there is good continuity in the high grade tungsten zones in this area * Numerous high grade tungsten intervals are reported with highlights including 1.0 metre grading 3.0% WO3, 1.0 metre grading 1.8% WO3 and 7 metres grading 0.8% WO3 Kerr Anderson, Managing Director, said: "The latest testwork results are even better than we had anticipated. The excellent pre-concentrate grades and recoveries suggest that high recoveries will be achieved in a process plant when saleable tungsten concentrates are produced. The new drilling results are also very positive, demonstrating good continuity of mineralisation in a possible initial mining block in the Filon Principal Zone. All drilling results to-date will be included in the Company's updated resource estimate, which we look forward to reporting by the end of Q2. The results received from our evaluation activities continue to support the Company's strategy of moving to early production and cash flow." Testwork Details A second stage of metallurgical testwork was conducted by metallurgical laboratories Wardell Armstrong International between February and April 2008. The objectives of the testwork programme were to: (1) Determine the optimum size for pre-concentration (2) Determine the liberation size of the tungsten minerals. The testwork was completed on a selection of 6 composites: one being composed of material from the Filon Principal mineralised zone, two composed of material from the Filon Central Zone, and three from the Filon Maestro Zone. The results of this programme, which involved sample preparation, heavy liquid separation testwork, mineralogical analysis using QEMSCAN and optical microscopy, and Bond Ball Mill Work index determinations indicate that for the composites selected: (1) The mineralogy of the composites is simple (2) Scheelite was the predominant tungsten mineral in all except for 2 composites, both from Filon Maestro, where wolframite was present (3) Tungsten minerals in all composites would be amenable to pre-concentration at a crush size of 3mm with potentially very high weight rejections (>80%) with significant upgrading of tungsten values (4) The best result has been achieved from the Filon Principal Zone where heavy liquid analysis on the -6mm + 0.053mm size range has yielded a recovery of 88% of contained WO3 to a pre-concentrate grading 49% WO3 (5) The Filon Central Zone has also provided excellent results with recoveries of 71% to 88% being achieved to a pre-concentrate grading between 23% and 29% WO3 (6) Recoveries to the pre-concentrate for the Filon Maestro Zone are also good, varying between 71% and 86% WO3; pre-concentrate grades are lower due to the higher content of sulphides in this mineralisation type. Drilling Details The new results from six drill holes, BAR-40 to BAR-45, are tabulated below. These holes were drilled to collect more detailed drilling information from the shallow levels of the Filon Principal Zone ("FP Zone") immediately north of the historic open pit, where a possible initial mining block has been identified. The results confirm the continuation of the FP Zone in this area as a series of multiple, high-grade zones. High grades were also intersected in the Filon Abilio Zone ("FA Zone"; east of the FP Zone), and in a zone which occurs between FA and FP, termed here the "FA1 Zone": +-------------------------------------------------------------+ | Hole | From (m) | Width(m) | True Width (m) | WO3% | Zone | |--------+----------+----------+----------------+------+------| | BAR-40 | 89.0 | 1.0 | 0.8 | 0.43 | FP | |--------+----------+----------+----------------+------+------| | | 118.0 | 1.0 | 0.8 | 1.83 | FP | |--------+----------+----------+----------------+------+------| | | 153.0 | 1.0 | 0.8 | 1.51 | FP | |--------+----------+----------+----------------+------+------| | | 162.0 | 1.0 | 0.9 | 0.73 | FP | |--------+----------+----------+----------------+------+------| | | 175.0 | 1.0 | 0.9 | 0.61 | FP | |--------+----------+----------+----------------+------+------| | | | | | | | |--------+----------+----------+----------------+------+------| | BAR-41 | 47.0 | 1.0 | 0.8 | 0.42 | FA | |--------+----------+----------+----------------+------+------| | | 61.0 | 1.0 | 0.8 | 1.47 | FA1 | |--------+----------+----------+----------------+------+------| | | 101.0 | 1.0 | 0.8 | 1.13 | FP | |--------+----------+----------+----------------+------+------| | | 113.0 | 1.0 | 0.8 | 1.55 | FP | |--------+----------+----------+----------------+------+------| | | 123.0 | 6.0 | 5.0 | 0.67 | FP | |--------+----------+----------+----------------+------+------| | | | | | | | |--------+----------+----------+----------------+------+------| | BAR-42 | 66.0 | 1.0 | 0.8 | 2.99 | FA | |--------+----------+----------+----------------+------+------| | | 132.0 | 1.0 | 0.8 | 0.87 | FP | |--------+----------+----------+----------------+------+------| | | | | | | | |--------+----------+----------+----------------+------+------| | BAR-43 | 59.0 | 1.0 | 0.8 | 0.30 | FP | |--------+----------+----------+----------------+------+------| | | 72.0 | 1.0 | 0.8 | 0.33 | FP | |--------+----------+----------+----------------+------+------| | | 82.0 | 1.0 | 0.8 | 0.68 | FP | |--------+----------+----------+----------------+------+------| | | | | | | | |--------+----------+----------+----------------+------+------| | BAR-44 | 21.0 | 1.0 | 0.8 | 1.32 | FP | |--------+----------+----------+----------------+------+------| | | 70.0 | 5.0 | 4.2 | 0.50 | FP | |--------+----------+----------+----------------+------+------| | | 89.0 | 7.0 | 5.9 | 0.80 | FP | |--------+----------+----------+----------------+------+------| | | 111.0 | 1.0 | 0.8 | 0.49 | FP | |--------+----------+----------+----------------+------+------| | | | | | | | |--------+----------+----------+----------------+------+------| | BAR-45 | 12.0 | 1.0 | 0.8 | 0.72 | FA1 | |--------+----------+----------+----------------+------+------| | | 37.0 | 1.0 | 0.8 | 1.04 | FP | |--------+----------+----------+----------------+------+------| | | 61.0 | 1.0 | 0.8 | 0.51 | FP | |--------+----------+----------+----------------+------+------| | | 78.0 | 1.0 | 0.8 | 0.60 | FP | +-------------------------------------------------------------+ All assays are reported using the ICP lithium metaborate fusion method. All values greater than 0.1% tungsten are subsequently analysed by the X-Ray Fluorescence (XRF) method. Kerr Anderson PhD EurGeol PGeo, Managing Director of Ormonde Mining plc, and a qualified person as defined in the Guidance Note for Mining, Oil and Gas Companies, March 2006, of the London Stock Exchange, has reviewed and approved the technical information contained in this announcement. A glossary explaining technical terms contained in this announcement can be found at www.ormondemining.com/projects/glossary.html. Enquiries to: Ormonde Mining plc Kerr Anderson, Managing Director Fraser Gardiner, Director Tel: +353 (0)46 9073623 Bankside Consultants Simon Rothschild / Louise Mason Tel: +44 (0)20 7367 8888 Mob: +44 (0)7703 167065 Davy (Nomad / IEX Adviser) Fergal Meegan Tel: +353 (0)1 6796363 Brewin Dolphin (UK Adviser) Gordon Culfeather Tel: +44 (0) 141 314 8121 ENDS About Tungsten Tungsten is most frequently used as tungsten monocarbide, which has a hardness close to diamond, in cemented carbides. The principal tungsten applications include its use in cutting steels and in tungsten alloys, electronics, and chemical products. Prices of tungsten concentrates are expected to remain buoyant for the long term, and are currently quoted by the Metal Bulletin in the range $160-$180 per metric tonne unit. A metric tonne unit is equal to 10kg of WO3, which equates to 1.0% contained WO3 in the rock. About Ormonde Ormonde Mining plc is quoted on the AIM in London and the IEX in Dublin. Ormonde is a mineral development and exploration company focused on Spain, with the objective of developing mining projects and taking them into production. For more information please visit www.ormondemining.com. ---END OF MESSAGE---
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