Trading Statement

Griffin Mining Ld
26 November 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]

                               26th NOVEMBER 2007

                               TRADING STATEMENT


Griffin Mining Limited ('Griffin' or 'the Company') announces that, in the light
of what the Company believes to be a temporary retracement in the zinc price, it
has decided to suspend all sales of zinc concentrates until the New Year.  The
Company believes that the relatively low zinc concentrate prices currently being
offered are a function of the significantly greater exports of physical zinc
from China as exporters seek to gain financial benefits which will be abolished
at year end.  The Company expects this situation to continue until the end of
2007 before the 5% rebate for Chinese zinc exporters ends on 1st January 2008
and a rumoured 5% export tariff is imposed.  Similar changes to lead and
aluminium regulations caused the lead price to move from $2500 to $3500 and the
aluminium price to move from $2500 to $2650 this year.


Consequently, the Company has taken the commercial decision to maximise value by
stockpiling zinc concentrate at Caijiaying in China in the short term rather
than continuing sales at current prices. Under the accounting policies of the
Company, no sales are recorded until revenue is actually received from buyers of
those concentrates.  Therefore, the suspension of concentrate sales will cause a
significant timing impact on the financial results of the Company, with sales
previously anticipated to fall in 2007 now being reported in 2008.  As a result
of this management decision, sales and profitability for the year ending 31
December 2007 will be below current market expectations. The Company expects the
normal resumption of concentrate sales in 2008, with accelerated sales and
profitability in the first half following the sale of stockpiled concentrate.


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


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