TIDMGFM

RNS Number : 3275W

Griffin Mining Ld

17 April 2023

8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773

E mail: griffin@griffinmining.com

First Quarter Production

17(th) April 2023 .

Griffin Mining Limited ("Griffin" or the "Company") hereby announces the production results for the three months to 31(st) March 2023.

 
                                                3 months     3 months      3 months 
                                               to 31(st)    to 31(st)     to 31(st) 
                                              March 2023     December    March 2022 
                                                                 2022 
 Ore mined                         Tonnes        355,742      228,510        17,975 
 Ore processed                     Tonnes        366,120      184,045         8,649 
 Zinc in concentrate produced      Tonnes         13,965        6,739           268 
 Gold in concentrate produced        Ozs           4,743        2,079         1,474 
 Silver in concentrate produced      Ozs          68,779       59,561           168 
 Lead in concentrate produced      Tonnes            230          215             7 
 Average zinc price received 
  per tonne                          USD           2,029        2,116             - 
 Average gold price received 
  per oz                             USD           1,789        1,703             - 
 Average silver price received 
  per oz                             USD            17.7         18.1             - 
 Average lead price received 
  per tonne                          USD           2,407        2,145             -

Overview

Production in the first quarter of 2023 was a record for a first quarter of any year since the commissioning of the Caijiaying Mine in 2005. Production output was unimpeded this quarter by the usual Chinese New Year holidays. Mining and processing rates have been ramped up to now run consistently at the equivalent of circa 1.5 million tonnes of ore per annum bringing with it the expected financial returns.

Chairman Mladen Ninkov commented,

"What another extraordinary result. The Caijiaying Mine is now clearly showing what it can achieve when it is unencumbered by extraneous events outside the Company's control. I look forward to an event free 2023 and the results which will thereby be generated."

About Griffin Mining Limited

Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company's website griffinmining.com.

Further information

Griffin Mining Limited

   Mladen Ninkov - Chairman                                 Telephone: +44(0)20 7629 7772

Roger Goodwin - Finance Director

   Panmure Gordon (UK) Limited                                     Telephone: +44 (0)20 7886 2500

John Prior

Douglas McLeod

Berenberg Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BlytheRay

               Tim Blythe                                                        Telephone: +44(0)20 7138 3205

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END

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April 17, 2023 02:00 ET (06:00 GMT)

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