Placing

Ormonde Mining PLC
06 November 2002



                Ormonde Mining plc ("Ormonde" or "the Company")


                    Placing of 5,325,974 New Ordinary Shares


The Company is pleased to announce the arrangement of a placing of 5,325,974 New
Ordinary Shares in the Company at 4.7c per share, representing 7.3% of the
existing issued share capital of the Company. The proceeds of the placing, being
€250,321 gross, or €240,116 net of expenses, will principally be used to finance
ongoing exploration on the Company's ground in Galicia, NW Spain, in addition to
it's joint venture licence areas in the Tamlalt area in northeastern Morocco,
and for general working capital purposes.

Application has been made to the Irish Stock Exchange for the New Ordinary
Shares, which will rank pari passu in all respects with the existing issued
Ordinary Shares in the Company, to be admitted to dealing on the Exploration
Securities Market of the Irish Stock Exchange and it is expected that dealings
will commence therein on 13 November, 2002.

Of the total number of New Ordinary Shares issued, the Directors took up in
aggregate 15.0%.

Mr. Kerr Anderson participated in respect of 319,149 New Ordinary Shares, Mr.
Colin Andrew in respect of 159,574 New Ordinary Shares and Mr. John Carroll in
respect of 319,149 New Ordinary Shares, bringing their respective interests in
issued Ordinary Shares to 790,778, 1,053,328 and 2,121,093 and representing
1.01%, 1.34% and 2.70% respectively of the issued share capital of the Company
as enlarged by the issue and allotment of the New Ordinary Shares.


Enquiries to:


Kerr Anderson - Managing Director                     John Carroll - Director
Ormonde Mining plc                                    Ormonde Mining plc
Tel: [phone]                                  Tel: [phone]
[e-mail]                           [e-mail]


6 November 2002


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