Update on mine construction

Griffin Mining Ld
02 October 2003


                               GRIFFIN MINING LTD

                                 2 October 2003

                     MINE CONSTRUCTION BEGINS AT CAIJIAYING


Griffin Mining Limited ('Griffin'or the 'Company') is extremely pleased to
announce that construction of the main vertical shaft, main portal and expansion
of the ventilation decline have begun at the Company's Caijiaying
zinc-gold-silver project in China.

In addition, a number of major equipment purchases, including 2 underground
drill rigs, spares and compressor, have been acquired to begin further
underground exploration work at zone III.  Exploration drilling will begin
immediately once work on the ventilation decline has been completed.

Mladen Ninkov, Chairman, commented as follows:

'The Company, and I expect its shareholders, couldn't be more delighted that
Griffin has finally moved into the construction phase at Caijiaying.  The
Company has continually met and exceeded its commitment to its shareholders and
the market and looks forward to that tradition continuing.'


Further information


Mladen Ninkov - Chairman                      Telephone: [phone]

Roger Goodwin - Finance Director              Telephone: [phone]

Charles Dampney - Charles Stanley             Telephone: [phone]



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