RNS Number:0490B
Griffin Mining Ld
26 March 2001



Issue of new options and cancellation of existing options in Griffin Mining
Limited to Directors.


Following the completion of the placing of 41,751,922 new ordinary shares at
3.5 pence to raise $2.1m and further to the announcement made on 23rd February
2001, Griffin Mining Limited ("Griffin") announces that it has today agreed to
grant options over 8,000,000 new ordinary shares to the directors and at the
same time cancel existing options over 2,200,000 ordinary shares previously
granted to the Directors, due to expire on 31st August 2001. Each option will
entitle the holder to subscribe for new ordinary shares in Griffin at 5 pence
per share on or before 31 March 2004.
 

Further information

Roger Goodwin - President                                                
Telephone: +44(0)20 7663 9855

Charles Dampney - Charles Stanley                                         
Telephone: +44(0)20 7739 8200

Laurence Read - Golin/Harris Ludgate                                         
Telephone: +44(0)20 7324 8888

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
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