Yukon Counter Offer Accepted

Griffin Mining Ld
01 May 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]

                                  1st May 2008


                       RESPONSE TO YUKON ZINC CORPORATION

Griffin Mining Limited ('Griffin' or 'the Company') has been notified in writing
by Yukon Zinc Corporation ('Yukon Zinc') that the Board of Directors of Yukon
Zinc intend to accept a cash offer from Northwest Non Ferrous International
Investment Company Limited and Jinduicheng Molybdenum Group Limited (the '
Acquirors') 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 Acquiror's
offer is subject to a five day stand still period allowing Griffin to amend or
increase its previous offer to Yukon Zinc of 18th April 2008.

The Company has notified Yukon Zinc that it does not intend to increase its
offer for the shares of Yukon Zinc.


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            BVEBFBBL