Preliminary Drilling Results

Ormonde Mining PLC
12 January 2005


12 January 2005

                               Ormonde Mining plc

          Report on Preliminary Drilling - Trives Gold Project, Spain.


DUBLIN & LONDON: 12 January 2005 - Ormonde Mining plc announces that it has
completed a preliminary diamond drilling programme on the Portas Prospect at its
Trives Gold Project in northwest Spain, one of Ormonde's five active Spanish
gold projects.

Six core drill holes (for a total of 870 metres) were completed in an
exploratory programme designed to establish the continuity of gold
mineralization interpreted to be associated with a shear-zone exposed in Roman
workings. Additionally, the drilling aimed to provide a better understanding of
geological features which control gold mineralization in the area.

The outcomes of the programme, being the first modern exploration to test the
depth and strike extensions of surface mineralization at Portas, can be
summarized as follows:

  • Drilling has intersected the depth extensions of gold-bearing vein
    structures observed and sampled in the Roman pits (see results table below)

  • Extensive quartz veining, brecciation, hydrothermal alteration and
    sulphide mineralization (pyrite, arsenopyrite), all typical features of
    shear-zone hosted gold systems, were encountered by the drilling

  • Altered felsic intrusions, not observed at surface, have been identified
    in drill core; a close spatial association with such rocks is common in
    shear-zone hosted gold systems worldwide

  • Visible gold observed in several quartz veins

  • Intersection of underground cavities by drilling suggests that these gold
    zones were mined historically.

Managing Director of Ormonde, Kerr Anderson commented,

"In addition to confirming the continuation of gold mineralized structures at
depth, this preliminary drilling phase has succeeded in identifying a number of
geological components which combine to make Portas a very prospective gold
system. We look forward to advancing the project with further drilling during
2005."

Results from the programme include those listed in the table below. It should
also be noted that numerous other wide zones occur with anomalous levels of
gold, generally associated with quartz veining. In hole TRIVES-002, for example,
an interval of 41.2 metres has an average grade of 0.4 g/t gold, from 121 metres
depth (includes 3.00 metres grading 2.4 g/t gold).

                                                                      
             Drill Hole             From       Interval    Gold Grade 

             TRIVES-001     33.40 metres    1.15 metres       6.4 g/t 
                            41.75 metres    6.55 metres       1.5 g/t 
                               including    1.75 metres       4.0 g/t 
                            55.20 metres    3.00 metres       2.7 g/t 

           TRIVES-001-2     55.50 metres    1.61 metres       1.6 g/t 
                            58.00 metres     1.00 metre       6.2 g/t 
                            73.70 metres    0.70 metres       9.8 g/t 
                            76.80 metres    1.10 metres       2.6 g/t 

             TRIVES-002     49.75 metres    3.65 metres       1.5 g/t 
                           137.35 metres    3.00 metres       2.4 g/t 

Ongoing activities at Portas will include structural interpretation and mapping
incorporating knowledge gained from drill core, ahead of further drilling to
test deeper extensions of gold zones. Soil geochemistry data indicate that gold
mineralization at Portas continues to the southeast of the drilled area, giving
the zone a total strike length of one kilometre; based on this drilling, a
number of soil geochemistry anomalies also warrant further investigation by
drilling.


BACKGROUND TO THE TRIVES PROJECT

The Trives Gold Project, in the Lugo and Ourense Provinces of northwest Spain,
comprises two Investigation Permits 100% owned by Ormonde covering a total area
of 3.2 square kilometres, and a further two contiguous Investigation Permits
under option covering a total area of 3.6 square kilometres. On the two permits
under option with two private Spanish companies, SYEM and SPIB, Ormonde can
acquire a 100% interest before April 2007. The primary target within these
permits is the Portas Gold Prospect.


Enquiries to:

Kerr Anderson, Managing Director,
Ormonde Mining plc Tel: [phone]
Fraser Gardiner, Investor and Media Relations,
Ormonde Mining plc Mobile: [phone]
Simon Rothschild, Bankside Consultants Tel: [phone] Mobile: +44 (0)
7703 167065

ENDS


BACKGROUND INFORMATION

Ormonde Mining is listed on the Irish Stock Exchange and also trades on London's
SEAQ platform. The Company is focused on acquiring and developing high-grade
gold projects in Spain. Ormonde's portfolio contains advanced projects with
substantial gold (and copper) resources, including La Zarza with one million
ounces of gold, and other properties where the Company anticipates that drilling
will identify significant new resources. The Company has a strong local Spanish
management team, supported by a Board with extensive exploration expertise in
the region and mine development experience.

For more information, please visit www.ormondemining.com or contact the Company
at [e-mail].


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