RNS Number:2605J
Griffin Mining Ld
21 September 2006

                             GRIFFIN MINING LIMITED
             60 St James's Street, London SW1A 1LE, United Kingdom
       Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773
                       E mail: griffin@griffinmining.com



                              21st September 2006


                        PRODUCTION UPGRADE AT CAIJIAYING

                        CONTINUING RISE IN CASH BALANCE



Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce that
it has increased throughput at Caijiaying from 35 tonnes of ore per hour first
achieved in May 2006 to 42 tonnes of ore per hour (the equivalent of 350,000
tonnes per annum) and maintained that increase for an extended period of time
whilst maintaining recovery and plant utilisation rates.  In addition, even
higher throughputs have been achieved on an ad hoc basis.



The 350,000 tonne per annum throughput is 75% over the original design capacity
of the plant with a 20% increase in zinc metal in concentrate being produced.
The increased throughput capacity reduces operating costs per tonne and allows a
lower mining cut-off grade to be applied whilst optimising and extending the
current known life of the zone III deposit. A new reserve and resource statement
is expected by the end of the calendar year.



Work continues on the feasibility study for the potential upgrade of the
Caijiaying zinc and gold processing plant to take annualised throughput to
500,000 tonnes per annum and cater for a new planned precious metals concentrate
which is expected to recover both gold and silver, a decision which is expected
to be made by the end of the calendar year.



Cash balances in the Griffin Group currently stand at some US$22 million and the
Company retains no debt.



Chairman's statement



"Caijiaying continues to outperform almost everyone's expectations and will
continue to excite and surprise the market and its shareholders.  I anticipate
even more significant results as the year continues."





Further information


Mladen Ninkov - Chairman                          Telephone: +44(0)20 7629 7772
Roger Goodwin - Finance Director
Griffin Mining Limited

Adrian Hadden / Christopher Rollason              Telephone: +44(0)20 7523 8350
Collins Stewart Limited

Hugo de Salis                                     Telephone: +44(0)20 7242 4477
St Brides Media & Finance Ltd



Griffin Mining Limited's shares are quoted on the Alternative Investment Market
                (AIM) of the London Stock Exchange (symbol GFM).

      The Company's news releases are available on the Company's web site:
                             www.griffinmining.com


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

MSCDBLFLQKBEBBX
Griffin Mining (LSE:GFM)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more Griffin Mining Charts.
Griffin Mining (LSE:GFM)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more Griffin Mining Charts.