Completion of Share Placement

Griffin Mining Ld
27 July 2007

                            GRIFFIN MINING LIMITED
             60 St James's Street, London SW1A 1LE, United Kingdom
       Telephone: + 44 (0)20 7629 7772  Facsimile:  + 44 (0)20 7629 7773
                       E mail: [e-mail]

                                 27th July 2007


              COMPLETION OF £75 MILION SHARE PLACEMENT TO CITADEL



Further to the announcement made on 11th July 2007, Griffin Mining Limited (the
'Company') has executed a subscription agreement with and, subject to admission
of the shares to trading on AIM, issued to Citadel Equity Fund Limited
68,181,818 million shares at £1.10 per share for total proceeds of £75 million.
Admission of the shares to trading on AIM is expected on 1st August 2007,
following which entities affiliated with Citadel Investment Group, L.L.C, will
have an interest in 77,181,818 shares of the Company. This represents 29.51% of
the enlarged share capital of the Company which post this placement will be
261,509,549 ordinary shares on issue.





Further information


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

Adrian Hadden / Christopher Rollason               Telephone: [phone]
Collins Stewart Europe Limited

Hugo de Salis                                     Telephone: [phone]
St Brides Media & Finance Ltd



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



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