GFM Griffin Mining Limited

RNS Number:6716Z
Griffin Mining Ld
11 June 2004







                      STATEMENT AT ANNUAL GENERAL MEETING



                        UPDATE ON PROGRESS AT CAIJIAYING

11th JUNE 2004



At the annual general meeting held today of the shareholders of Griffin Mining
Limited ("Griffin" or the "Company"), the Chairman, Mr. Mladen Ninkov, gave a
report on the progress of construction of the underground mine and processing
facilities at Caijiaying. The Chairman reported that, Griffin was extremely
pleased with the progress being made at Caijiaying and the Company expected the
plant to be commissioned on time and on budget in the spring of 2005.



More specifically the Chairman reported that:



  * the decline constructed in 2000 had been dewatered, enlarged and
    refurbished according to plan;
  * all major contracts for the construction of the production decline and
    processing facilities have been signed;
  * all basic design work has been completed;
  * work has commenced on the main portal and the production decline
  * the processing plant site has been prepared for building construction to
    begin;
  * 318 metres of underground drive has been completed;
  * the northern ventilation shaft has been sunk to a depth of 76 metres;
  * all major items of processing equipment have been ordered for delivery on
    schedule;
  * key staff have been engaged, including a mine manager and a metallurgist;
    and
  * surface rights have been obtained.



Griffin has continued to undertake further exploration work both within the zone
III area and on the area between mine site at zone III and zone II area of
mineralisation, some 1.5 kilometers to the south.  Those results will be
available in due course.








Further information



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

Philip Davies                                     Telephone: +44(0)20 7953 2000
Charles Stanley & Company Limited






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