Assay Results

Griffin Mining Ld
07 October 2002


                             GRIFFIN MINING LIMITED

               1 Berkeley Street, London, W1J 8DJ, United Kingdom
       Telephone: + 44 (0)20 7016 8821  Facsimile:  + 44 (0)20 7016 9124
                   E mail: [e-mail]


                                7th October 2002


    SPECTACULAR ZINC & GOLD ASSAY RESULTS FROM SUMMER DRILLING PROGRAMME AT
                                   CAIJIAYING


Griffin Mining Limited ('Griffin') has today released the latest assay results
calculated from it's 2002 summer diamond drilling programme at Caijiaying.  The
results exceed all expectations Griffin had for the programme and as previously
announced on 16th September 2002 indicates that the resource at Caijiaying is
likely to be much larger than previously estimated.

The main highlights are:

  • The results confirm the previously announced visual interpretation of a
    significant increase in the zinc resource in the part of the deposit
    drilled.
  • The results confirm the interpretations which allow the entire resource to
    be re-modelled for a new larger resource estimate.
  • The drilling discovered a new lode west of the previously known zone of
    mineralisation which has recorded the best intersection to date in the
    deposit of 5m at 36.87% zinc.
  • On the Southern and Central Sections impressive cumulative thicknesses of
    mineralisation were encountered, with the Southern Section giving a best
    cumulative intersection of 32.45m at 12% zinc and the Central Section giving
    39.8m at 10.22% zinc.
  • Some significant gold intercepts were also encountered lower in the
    drilled zone such as 12m at 4.4g/t gold (using a 1g/t cut-off) including a
    zone of 5.5m at 7.31g/t Au.
  • Taken together with earlier gold results, the gold intersections suggest
    that a distinct part of the overall deposit may have potential as a separate
    gold resource.  The new resource model may throw more light on this aspect.


A full report written by independent geological consultants CSA Australia Pty
Ltd on the results of the drilling programme are attached hereto.

Mladen Ninkov, Chairman, commenting on the activities of Griffin said:

'The results from Caijiaying continually exceed our expectations.  These
extraordinary assay results confirm our previous visual interpretation and
propel us toward a new resource statement from independent resource geologists.
We expect that result in November.  In addition to the exceptional zinc results
the gold results are an added bonus and Griffin will now have to examine the
possibility of mining a separate gold resource in addition to our known zinc ore
body.'



Further information

Mladen Ninkov - Chairman                     Telephone: [phone]
                                             
Roger Goodwin - Finance Director             Telephone: [phone]

Charles Dampney - Charles Stanley            Telephone: [phone]




Griffin Mining Limited's shares are quoted on the Alternative Investment Market
                (AIM) of the London Stock Exchange (symbol GFM).

      The Company's news releases are available on the Company's web site:
                             www.griffinmining.com




Date;   4-Oct-02
Ref; RC.95.02


The Directors
Griffin Mining Ltd
1 Berekeley Street
London W1J 8DJ
United Kingdom


                  Re: The Caijiaying Project - Drilling Results



Dear Sirs,

We are pleased to report on the assay results from the recent cross-section
drilling program undertaken on the Caijiaying Project between May to August this
year.  We have previously reported on the interim results and their implications
based on visual estimates.  I am happy to report that our visual estimates were
accurate and in most cases have under-estimated the grade, particularly in
medium grade intervals.  Thus the general conclusions made in the previous
interim report have been confirmed.

Drill holes and sampling

The drilling program consisted of seven angled core holes drilled on three
sections as follows:

     • a Southern Section comprising two holes, drilled towards the east
       (ZK315-43 and ZK315-45) on grid line 40020N;

     • a Central Section (on grid line 40140N) comprising three holes
       drilled towards the east (ZK315-38, ZK315-39 & ZK315-40) and one hole 
       drilled towards the west to cross-check the other holes (ZK315-42), and

     • a Northern Section comprising one hole drilled towards the east
       (ZK315-44) on grid line 40360N).


A total of 2031m were drilled.  All three sections were designed to assess the
geometry of mineralisation intersected in the northern part of the north-south
315 Section previously drilled by the Chinese where 40% of the total resource
occurs.  The holes were drilled at a 60 degrees angle, orthogonal to the known 
lodes. The drill program was managed by CSA.

The drill core for each hole was logged by a CSA geologist who determined which
intervals should be sampled.  Each interval was then cut in half by diamond saw,
bagged, weighed and packed for air freight to SGS-Analabs of Perth, Western
Australia, an internationally accredited independent laboratory.  A number of
check analyses were conducted on quarter-sawn core samples and a set of blanks
and medium and high-grade standard samples were submitted with the batch of
samples for analyses.  The samples were then subjected to analyses by normal
preparation of crushing and grinding to minus 75 microns before a four-acid
digest followed by Atomic Absorption Spectrometric analysis to determine zinc,
lead and silver.  Gold was analyzed by fire assay on a 50g sub-sample of the
original.

The results of intervals greater than 2m using a 5% zinc cut-off are summarized
in the Table 1. Hole-orientation details are also included.  In all the holes
drilled towards the east the intersections are interpreted to represent an
approximate true width of 70% of the actual intersection.  In hole ZK315-42 the
hole is believed to have been drilled partly down dip.


Drill Results

On the Southern Section, the recent drilling intersected a new western zone of
mineralisation which occurs 15m west of the previously known mineralisation.
Both holes intersected this zone.  In the first hole (ZK315-43) it consists of a
small initial intersection of 2.9m at 6.29% Zn which is followed by an
exceptional-grade lode of 5m assaying 36.87% Zn.  In the second hole (ZK315-45)
which is 15m up dip from the first, the zone is much wider and consists of a
better initial intersection of 5.3m at 12.12% Zn followed by a very wide
intersection of 16.75m at 13.8%.  The intersections lower in these holes are
part of the originally known zone and are broadly consistent with the earlier
results although thinner.  Taken together, the mineralised zone on the southern
section is 60m wide with cumulative intersections above the 5% cut off of 12.9m
at 19.45% Zn in the first hole and 32.45m at 12% Zn in the second.  Previously
its width was not known so the new information shows a broad zone of good grade
material exists whereas before it was uncertain due to the wrong drilling angle
or the early holes.

An interesting gold intersection of 4.6m at 3.32g/t Au within the zinc-rich
material was also obtained  in hole ZK 315-45.

Mineralisation in the Central Section (120m to the north of the southern
section) also occurs in a 60m wide envelope (also dipping 75 - 80 degrees to the
west) but is more abundant, probably due to cross faulting.  The vertical extent
of the mineralised envelope has been interpreted over 75m.  The cumulative
intersections in the first two holes drilled towards the east were 39.8m at
10.22% Zn in the upper hole and 28.75m at 7.54% Zn in the lower hole (ZK315-39
drilled 15m down dip of ZK 315-38).  The third hole (ZK 315-39) contained much
less mineralisation due to an interpreted late cross fault.  The hole drilled
towards the west (ZK 315-42) is probably at least partly drilled down dip and
had a cumulative thickness of 25.55m at 10.75% Zn.  It provided essential
information to interpret the geometry of the mineralisation.

It is worth noting that hole ZK 315-39 also obtained a good gold intersection
within the 5% zinc zone of 5.5m at 7.31g/t Au (see Table).  In fact the total
gold interval is more extensive than this and recorded 12m at 4.14g/t Au (using
a 1 g/t Au cut-off).

The single drill hole (ZK315-44) on the Northern Section (220m to the north of
the Central Section) showed the same general pattern as the Southern Section.
It also intersected the new western lode although on this section it is lower
grade at 8.65m at 8.3% Zn.  However, the hole also intersected a small
high-grade intercept between the western and central lodes of 4.4m at 16.33% Zn.


Conclusions

The main conclusions that can be drawn from these assay results are as follows;

• The analyses have confirmed the previously announced
interpretations and have generally shown a higher grade than estimated visually.

• They have shown that the mineralisation in the northern part of the
Zone III deposit is more extensive than previously indicated by the Chinese
drilling.

• An exceptional grade intercept of 5m at 36.87% Zn was recorded in
the newly discovered western lode. This is the best intercept recorded to date
in the deposit.
  
• Although mineralisation in the Caijiaying deposit is variable, both
the Central and Southern Sections recorded good wide intercepts of cumulative
thicknesses of over 30m above 5% Zn within the envelope of mineralisation which
is now recognized as being 60m thick.  Previously its width was not known.

• Two notable gold intersections were recorded, some of which occurs
in rocks with no zinc.  When taken together with earlier gold results, these
intervals are suggesting a pattern which may enable a distinct lower part of the
deposit to be modeled as a gold resource. However this would require more
sampling to define and would be best done during mining the higher zinc lodes.


Work is now underway to combine these latest results into a new geological model
in preparation for a revised resource estimate.



Signed

_______________________

Rupert W. A. Crowe
BSc, F.AusIMM, MIAEG
Managing Director




Table 1. Caijiaying 2002 summary drill-hole results.

Hole ZK315-38                                                                                                       

Easting     4914.63                 Northing    40140.06          RL    1472.417  
Dip/Dip Direction    -60/090.5 
                                                       
           FROM         TO       INTERVAL         Zn%    Pb%         Ag       Au
 
           155.1        159.8         4.7       11.04    1.92    112.34     0.12 
  incl.      156          159           3       12.47    2.25    121.67     0.16 
           170.3        176.3           6        9.21    0.46     85.58      0.1 
  incl.    172.5        175.3         2.8       12.47     0.5    100.54     0.09 
           185.6        193.9         8.3       14.03     0.5     70.48     0.34 
  incl.    189.8        193.9         4.1        14.9    0.63      96.1     0.35 
           198.8        210.5        11.7       10.07    0.71     58.33     0.66 
  incl.    198.8        205.8           7       11.12    0.96     64.29     0.74 
           216.2        220.7         4.5        7.43    0.03               2.36 
           244.9        249.5         4.6         6.9    0.22     20.22     0.24 


Cumulative intersections over 2m using a 5% cut-off = 39.8m @ 10.22%Zn                                              



Hole ZK315-39                                                                                                       

Easting     4896.31                 Northing    40139.99          RL    1471.823  
Dip/Dip Direction    -60/090 
                                                         
           FROM         TO       INTERVAL         Zn%     Pb%        Ag     Au 
           170.4        177.2        6.8        10.25    1.15     84.04     0.13 
  incl.      174        176.3        2.3        19.79    1.54     126.3     0.06 
          198.75        205.4       6.65         6.06     0.5     13.23     0.43 
           221.6        227.5        5.9         7.46    0.15      7.12     0.49 
             230        235.5        5.5          5.7     0.1     16.82     7.31 
           240.6        244.5        3.9         8.02    0.07      14.1     1.64 


Cumulative intersections over 2m using a 5% cut-off = 28.75m @ 7.54%Zn


                                              
Hole ZK315-40                                                                                                       

Easting     4931.68                 Northing    40140.03          RL    1472.194  
Dip/Dip Direction    -62/092
                                                          
           FROM         TO      INTERVAL          Zn%     Pb%        Ag     Au 
           153.3        155.8        2.5         7.39    0.54        40     0.14 
             203        206.1        3.1         5.75    1.43     29.03     1.79 


  Cumulative intersections over 2m using a 5% cut-off = 5.6m @ 6.48%                                                  
                                                                                                                      

Hole ZK315-42                                                                                                       

Easting     5089.49                 Northing    40122.5           RL    1478.091  
Dip/Dip Direction    -60/270 
                                                         
           FROM         TO      INTERVAL          Zn%     Pb%        Ag     Au 
             173        182           9          7.46    0.83        65     0.32 
           191.7        198         6.3         14.64    1.16     70.48     0.22 
  incl.    192.4      196.6         4.2         19.27    1.49    105.71     0.28 
           200.5     210.75       10.25         11.25    0.81      47.8     0.55 
  incl.      201        207           6         13.52    0.88     53.33     0.66 


Cumulative intersections over 2m using a 5% cut-off = 25.55m @ 10.75m     


                                          
Hole ZK315-43                                                                                                       

Easting     4885.34                 Northing    40030.05          RL    1472.294  
Dip/Dip Direction    -60/081   
                                                       
           FROM         TO      INTERVAL          Zn%     Pb%        Ag     Au 
           167.7        170.6        2.9         6.26    0.22     22.41     0.06 
           186.7        191.7          5        36.87    0.35        82     0.05 
           194.7        197.7          3         5.69    0.07               0.23 
           227.5        229.5          2        15.69    0.08        30     0.41 


Cumulative intersections over 2m using a 5% cut-off = 12.9m @ 19.45%                                                



Hole ZK315-44                                                                                                       

Easting     4882.06                 Northing    40359.88          RL    1473.662  
Dip/Dip Direction    -60.5/081  
                                                      
           FROM         TO       INTERVAL          Zn%     Pb%        Ag    Au 
           210.15       218.8        8.65         8.3     1.23     99.51    0.78 
              230       234.4         4.4       16.33     0.28     21.14    0.16 
            241.3       244.3           3        9.08     0.13        35    6.09

 
Cumulative intersections over 2m using a 5% cut-off = 16.05m @ 10.65%                                               



Hole ZK315-45                                                                                                       

Easting     4899                    Northing    40027.08          RL    1473.063  
Dip/Dip Direction    -60/080 
                                                         
           FROM         TO       INTERVAL        Zn%     Pb%        Ag      Au 
            147.5        156          8.5        9.44    0.46     22.65     0.05 
  incl.     148.5      153.8          5.3       12.12    0.58     36.32     0.07 
           160.75      177.5        16.75        13.8    0.52     47.04     0.11 
  incl.    160.75      175.5        14.75       15.21    0.59     53.42     0.12 
              184      186.6          2.6       14.92    0.23     72.78     0.08 
            196.5      201.1          4.6        8.53    0.08               3.32

 
Cumulative intersections over 2m using a 5% cut-off = 32.45 @ 12.00% Zn                                             



 
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