Stmnt re Share Price Movement

Griffin Mining Ld
21 June 2004


                             GRIFFIN MINING LIMITED

                                 21st JUNE 2004

                          STATEMENT RE PRICE MOVEMENTS

Griffin Mining Limited ('Griffin' or the 'Company') has noted the recent fall in
the market price of its shares. Griffin is not aware of any operational or
financial reason in relation to the Company's activities for the fall in the
share price.  Griffin is, however, aware that its shares (and shares of other
London Stock Exchange quoted companies) have been listed on the Berlin Stock
Exchange without its consent. Griffin believes that this has been done by
certain brokers to facilitate the short selling of shares. The Company and its
advisers are seeking the delisting of Griffin's shares from the Berlin Stock
Exchange and investigating the possibility of further action in this regard.


Griffin continues on schedule and on budget to complete construction of the mine
and processing facilities at Caijiaying for commissioning in the spring of 2005.
Further, Griffin retains more than sufficient funds for this construction and
commissioning and for all the working capital requirements of the Company.





Further information



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



Philip Davies                               Telephone: [phone]
Charles Stanley & Company 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


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