Counter Offer

Griffin Mining Ld
28 April 2008

                           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]


                                28th April 2008



                    COUNTER OFFER TO PROPOSED ACQUISITION OF
                             YUKON ZINC CORPORATION



Griffin Mining Limited ('Griffin' or 'the Company'), has been notified in
writing by Yukon Zinc Corporation ('Yukon Zinc') that it has received a cash
offer from another party for the acquisition of all the issued common stock of
Yukon Zinc for a cash price of C$0.22 (twenty two Canadian cents) per share.
The directors of Yukon have until 4.00pm, Vancouver time, Monday 28th April
2008, to advise Griffin as to whether they will accept this offer.


Under the terms of the agreement between Griffin and Yukon Zinc, Griffin has
five business days to address the competing offer and Yukon Zinc has agreed to
pay a break fee to Griffin, under certain circumstances, of C$2.5 million and
reimburse Griffin expenses incurred upon acceptance of such a competing offer.



Further information


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

Adrian Hadden                                  Telephone: [phone]
Collins Stewart Europe Limited



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


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            The company news service from the London Stock Exchange