Interim Results

Ormonde Mining PLC
24 September 2007

24 September 2007



                               Ormonde Mining plc





             Interim Results for the Six Months Ended 30 June 2007



DUBLIN & LONDON: 24 September 2007 - Ormonde Mining plc ("Ormonde" or "the
Company"), the Spain-focused exploration and development company, is pleased to
announce its unaudited interim results for the six months ended 30 June 2007.







                                   HIGHLIGHTS



  • Bankable Feasibility Study, due for completion by the end of the year,
    progressed on the La Zarza copper-gold-zinc Project



  • Ormonde's interest in the Project increased to 100%



  • Barruecopardo Tungsten Project in Salamanca upgraded to advanced project
    status; drilling continues to intersect high-grade tungsten mineralization



  • Funding in place to support ongoing drilling programmes following capital
    raising of €1.7 million (net of expenses) in July



  • Loss for the period of €284,111 (€235,927 for the 6 months to June 2006);
    management continues to maximize in-the-ground investment.





Mike Donoghue, Chairman of Ormonde commented,



"During the first six months of this year we have progressed the feasibility
study at La Zarza, which is now in its final stages.  We also significantly
advanced the Barruecopardo Tungsten Project through drilling and initial
metallurgical testwork, and believe that in Barruecopardo we have the potential
for a high-grade underground tungsten mine".





Enquiries to:



Ormonde Mining plc
Kerr Anderson, Managing Director,
Fraser Gardiner, Director
Tel: [phone]



Bankside Consultants
Simon Rothschild   Tel: [phone]   Mobile: [phone]



Davy (Nominated Adviser to Ormonde)
Fergal Meegan   Tel: + 353 1 6796363





                              CHAIRMAN'S STATEMENT





OPERATIONAL REVIEW



During the first six months of 2007, the Bankable Feasibility Study on the La
Zarza Cu-Au-Zn deposit in southwest Spain was progressed following the
appointment of four well-established engineering firms, with Aker Kvaerner
Engineering Services Ltd as overall Study Manager.  The main aspects of the
Study include metallurgical optimization and variability testwork, finalization
of mill, mine and associated infrastructure designs, and compilation of the
relevant environmental and regulatory requirements for permitting of a mining
operation. This Study will be completed by the end of the year and will provide
definitive costs for the development of an underground mine at La Zarza,
producing metal concentrates containing copper, gold, zinc and silver.



Drilling of the zinc massive sulphide zone was initiated during the period, with
the objective of moving a major part of the Inferred Resource of 2.9Mt grading
4.5% zinc (reported towards the end of 2006) to Indicated status, thereby
enabling conversion to ore reserves under JORC Guidelines. This programme has
now been completed and results will be reported when all assay results have been
received.  Drilling is now being carried out to test a zone of copper-rich
massive sulphide 500 metres to the west of the currently defined resources at La
Zarza.



During the period, the Company increased its equity interest in La Zarza from
70% to 100% through an acquisition that includes all the land holdings at La
Zarza held by our joint venture partner Nueva Tharsis and a buy-out of a royalty
interest, thereby allowing Ormonde shareholders to receive the full value from a
mining operation at La Zarza.



The Company was also very active on its Salamanca Tungsten properties in the
first half of the year, where drilling continues to establish the presence of
high-grade tungsten mineralization in the northern extension to the previous
Barruecopardo open-pit mine.  Tungsten intersections range from 0.5-2.4% WO3
over 1 to 3 metre intervals and the mineralization has now been established over
a strike length of at least 600 metres.  As a result of the positive drilling
results, which exceeded our best expectations, and initial metallurgical tests
which indicate that the tungsten minerals are coarse grained and can be
concentrated effectively by traditional low cost gravity equipment,
Barruecopardo has been upgraded to an advanced project.



The priority is now firmly on determining an initial tungsten resource on the
northern extension at Barruecopardo, in addition to drilling investigation holes
to the south beneath the old open-pit to identify the overall resource
potential.  Collection of a bulk sample for full metallurgical testing and
flowsheet design will commence shortly.  These activities will provide the
fundamental information required in the short-term to evaluate the viability of
an underground tungsten mining operation at Barruecopardo.



Our gold exploration activities in the Salamanca Project and elsewhere continued
during the period, and we were pleased to report the intersection of narrow, but
high-grade intervals on the Pino de Oro Prospect which include 18.9 and 16.6 g/t
gold over metre intervals.  This highlighted that although the Company's focus
remains on the Feasibility Study at La Zarza and the fast-tracking of the
Barruecopardo Tungsten Project, we also maintain an active gold exploration
programme designed to develop the best opportunities to add to the Company's
Spanish resource base





CORPORATE DEVELOPMENTS



In April we engaged Bell Lawrie, a division of Brewin Dolphin Securities, as the
Company's UK broker and financial advisor.  Davy continues to be our Irish
broker and Nomad.  We also completed a small placing after the end of the period
which raised €1.7 million (net of expenses) to fund ongoing drilling programmes
and our acquisition of the 100% interest in La Zarza.



Ormonde's operating loss for the period was €284,111 (€235,927 for the 6 months
to June 2006).  Our management continues to maximize in-the-ground investment.





SUMMARY



This has been a period where progress at La Zarza has taken the form of detailed
design work on the Feasibility Study and consequently market newsflow on La
Zarza has been accordingly limited.  However, we are now in the final stages of
completion of this Study.  In the interim, very significant progress has been
made on the Barruecopardo Tungsten Project, which we are rapidly advancing, and
we look forward to reporting further results from Barruecopardo between now and
the end of the year as they become available.





Michael J. Donoghue
Chairman
21 September 2007



Ormonde Mining plc

Consolidated Income Statement

Six months ended 30 June 2007
                                                      (unaudited)            (unaudited)                 (audited)
                                                   6 months ended         6 months ended                Year ended
                                                     30 June 2007           30 June 2006          31 December 2006
                                                           €000's                 €000's                    €000's

Turnover

Administrative expenses                                     (310)                  (252)                     (601)
Exploration costs written off                                   -                      -                      (82)
Operating (loss)                                            (310)                  (252)                     (683)

Interest receivable                                            26                     16                        83

(Loss) on ordinary activities                               (284)                  (236)                     (600)

Minority interest                                               -                      -                         3

Retained (loss) for the period                              (284)                  (236)                     (597)

Loss per share:
Basic                                                   (€0.0017)              (€0.0015)                 (€0.0037)
Diluted                                                 (€0.0016)              (€0.0013)                 (€0.0033)





Ormonde Mining plc

Consolidated Balance Sheet

As At 30 June 2007
                                                      (unaudited)            (unaudited)                 (audited)
                                                     30 June 2007           30 June 2006          31 December 2006
                                                           €000's                 €000's                    €000's

Non-Current Assets
Property, plant and equipment                                  15                     17                        10
Intangible assets - Deferred exploration costs              7,558                  4,444                     5,927
Intangible assets - Goodwill                                  230                    112                       230
                                                            7,803                  4,573                     6,167

Current Assets
Trade and other receivables                                   405                    360                       593
Cash and cash equivalents                                   1,672                  5,034                     3,391
                                                            2,077                  5,394                     3,984


Total Assets                                                9,880                  9,967                    10,151

Equity and Liabilities

Capital and Reserves
Called up share capital                                     5,887                  5,864                     5,885
Share premium account                                      14,347                 14,230                    14,347
Reserves                                                       39                     36                        39
Retained (losses)                                        (10,711)               (10,208)                  (10,427)

Equity attributable to equity holders of the                9,562                  9,922                     9,844
parent

Minority interest                                             (3)                      2                       (3)

Total Equity                                                9,559                  9,924                     9,841

Current Liabilities
Trade and other payables                                      321                     43                       310


Total Liabilities                                             321                     43                       310

Total Equity and Liabilities                                9,880                  9,967                    10,151



Ormonde Mining plc

Consolidated Cash Flow Statement

Six months ended 30 June 2007
                                                      (unaudited)            (unaudited)                 (audited)
                                                   6 months ended         6 months ended                Year ended
                                                     30 June 2007           30 June 2006          31 December 2006
                                                           €000's                 €000's                    €000's

Net (loss) before interest and income tax                   (310)                  (252)                     (683)

Adjustments for:
Exploration costs written off                                   -                      -                        82
Depreciation for  -  Property, plant and                        5                      2                        12
equipment

Operating (loss) before working capital changes             (305)                  (250)                     (589)

Decrease/(Increase) in trade receivables                      188                    211                      (22)
(Decrease)/Increase in trade payables                          11                  (193)                        74

Cash generated from operations                              (106)                  (232)                     (537)

Interest received                                              26                     16                        83

Net cash flow from operating activities                      (80)                  (216)                     (454)

Investing activities
Purchase of property, plant and equipment                    (10)                      -                       (4)
Purchase of intangible assets                             (1,631)                  (889)                   (2,431)
Net cash used in investing activities                     (1,641)                  (889)                   (2,435)

Cash flows from financing activities
Proceeds from issue of share capital                            2                  4,248                     4,389

Net cash received from financing activities                     2                  4,248                     4,389

Net (decrease)/increase in cash and cash                  (1,719)                  3,143                     1,500
equivalents

Cash and Cash equivalents at the beginning of               3,391                  1,891                     1,891
the period

Cash and cash equivalents at the end of the                 1,672                  5,034                     3,391
period






The financial information has been prepared under the historical cost convention
in accordance with Irish law and International Financial Reporting Standards.
This is the first financial period that the Group has adopted International
Financial Reporting Standards. This did not result in any material amendment to
the Group's accounting policies or the results previously presented.

The loss per share was calculated from the loss for the period attributable to
ordinary shareholders of €284,111(June 2006 = €235,927) divided by the
time-weighted average number of shares in issue during the period of 162,488,775
(June 2006 = 156,292,428).



No dividends were paid or proposed in respect of the six months ended 30 June
2007.


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