GFM Griffin Mining Limited

RNS No 3758t
GRIFFIN MINING LIMITED
22nd April 1998


Griffin Mining Limited ("the Company") has been notified today that the
Chairman of the Company Mr Craig Niven, has received irrevocable undertakings
from the shareholders listed below in respect of the shares set against each
respective shareholder. They provide for Mr Niven to exercise all the voting
rights attaching to a total of 7,250,000 ordinary shares in Griffin Mining
Limited representing 51.8% of the issued share capital. The undertakings
expire on 16 June 1998 unless previously renewed. 

As a result of the above Mr Niven has obtained control of Griffin Mining
Limited for the purposes of Section 840 Income and Corporation Taxes Act 1988.

Registered shareholder                    Number of shares 
       
Everton Overseas Holdings Inc                    3,500,000
Morstan Nominees Limited                         1,250,000
Kimble International Inc                         1,800,000
Gee & Co.                                          700,000
Total                                            7,250,000
       
Total shares in issue                           14,008,154
       
Percentage of voting rights held by Craig Niven       51.8%

Mr Niven now has an interest in 7,275,000 ordinary shares in the Company
representing 51.9% of the issued share capital of the Company. Mr Niven also
has an interest in share purchase options entitling him to subscribe for
40,000 ordinary shares in the Company.  

Shareholders should be aware that the Company is not subject to the United
Kingdom City Code on Take-overs and Mergers.

Further information:

Craig Niven (Chairman) - Griffin Mining Limited - Tel: 0171-321-2077
       
Stephen Goschalk - English Trust Company Limited - Tel: 0171-608-0888

Griffin Mining Limited was registered in Bermuda in 1988 and its shares and
warrants are listed on the Luxembourg Stock Exchange, quoted on the
Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM)
and traded on the Canadian Dealing Network in Toronto (symbol GRFM). Corporate
information and share prices can be accessed via the Newstrack service on 
ADP QST/Quotron (NTRACK), Bloomberg (TRAK), Datastream/ICV TOPIC (*11800) and
Rueters (JPJA). The share price is also published daily in the Financial Times
and London Evening Standard. The Company's news releases are available through
Canadian Corporate News' Internet Home Page: http://www.cdn-news.com    


END

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