RNS No 4826n
GRIFFIN MINING LIMITED
23rd December 1998

                         Variation of warrant terms.                         

Griffin Mining Limited ("Griffin") today announces that the rights attached to
the 1,250,000 quoted warrants, exercisable into new ordinary shares of the
Company and due to expire on 31 December 1998, will be varied. It is intended
that the exercise period be extended to mid February 1999 and that the
exercise price be reduced to US 24 cents. Documents will be despatched to
warrant holders shortly. 

Prior to this announcement, each warrant entitled the holder to subscribe for
one new ordinary share in Griffin at US 50 cents on or before 31 December
1998.
 
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

Fred Coombes -  Investor Relations                                   
Tel: + 1 604 681 5225

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 and on the Company's own web site www.griffinmining.com
which also contains background information on the Company and its projects.   

END

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