Restructure Proposals etc.

Ormonde Mining PLC
22 September 2000


Ormonde Mining Plc ('Ormonde' or 'the Company')


The Board of Ormonde Mining Plc wish to advise shareholders that commitments
have now been received from relevant parties to enable a restructuring and
refinancing of the Company, subject to shareholder approval.  The proposed
refinancing will involve, inter alia, an underwritten rights issue. 

It is expected that a document will be circulated to shareholders of the
Company in connection with these arrangements in due course.

Mr Des Burke has resigned as a Director of the Company with immediate effect
in order to pursue personal interests.

Exploration activity on Ormonde's licences in Tanzania has resumed recently. 
Field-work is presently underway on three properties in the Lake Victoria
Landfield area.  These properties comprise the assets of Ormonde-Axmin Joint
Venture.  Work to date has generated a number of gold-in-soil anomalies and
the most significant of these on Prospecting Licence 257/94 are currently
being trenched and sampled.

Fieldwork will recommence shortly on Ormonde's Mrangi property in the Musoma
area of Northern Tanzania.  This property is held in joint venture with Mincor
of Australia.


For further information : 

Eugenee Mulhern
Davy Corporate Finance Limited
00 353 1 6796363


22 September, 2000