GFM Griffin Mining Limited

RNS No 8970c
GRIFFIN MINING LIMITED
27th October 1998

                            GRIFFIN MINING LIMITED                            

        First Exploration Licence Issued Under New Chinese Mining Law         

Griffin Mining Limited ("Griffin") is delighted to announce that, according to
The Ministry of Lands and Natural Resources ("MNLR") of the Peoples Republic
of China ("PRC"), the first exploration licence granted under the new mining
law by MLNR over a hard rock deposit has been issued directly to Griffin's 60%
joint venture company; the Hebei Sino Australian Mining Development Company
Limited ("HSAMDC").

The new licence was presented to Griffin's President and HSAMDC's Chairman &
General Manager Mr Mladen Ninkov, by Mr Jiang Chengsong, Deputy Minister of
the MNLR, at a high profile ceremony in Beijing. The presentation came at the
end of a process of review of the project and the joint venture by the PRC
authorities in Beijing as required under Chinese law. The granting of the
licence represents a high profile "first" for Griffin in the PRC where the
Company has been working closely with the MNLR in order to help implement new
legislation governing the minerals sector.

The new licence was issued in respect of Griffin's Caijiaying zinc-gold
deposit.  The new licence is valid until 16 October 2001 and replaces the
previous licence that was due to be renewed on 31 December 1998. Under the
terms of the new Chinese mining laws which were introduced earlier this year,
the new licence has been granted directly to HSAMDC.  Until 12 February 1998,
foreign controlled joint ventures such as HSAMDC could not directly hold
exploration licences in China. 


Further information:

Craig Niven (Chairman) - Griffin Mining Limited                               
Tel: + 44 (0)171 321 2077
       
Stephen Goschalk - English Trust Company Limited                          
Tel: + 44 (0)171 608 0888

Charles Dampney - Burrough Johnstone Limited                                
Tel: + 44 (0)1273 486244

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
Reuters (symbol GFM.L) (page JPJA), Bloomberg (symbol GFM LN), ICV Topic
(*1180 ) QST/Quotron (NTRACK). 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:
htp://www.cdn-news.com    


END

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