Drilling Report-Replacement

Ormonde Mining PLC
10 May 2005

Issuer's Amendment

This announcement completely replaces the announcement released at 7.30, 10 May
2005, RNS No. 0778M.


10 May 2005

                               Ormonde Mining plc

    Tracia Drilling Confirms Depth Extension of Surface Gold Mineralization.

                  High-Grade Prospecting Results in New Area.

DUBLIN & LONDON: 10 May 2005 - Ormonde Mining plc ("Ormonde" or "the Company")
reports that initial drilling has confirmed the depth extension of surface gold
mineralization at its wholly-owned Tracia Gold Project in northwest Spain, one
of the Company's five active Spanish gold projects.



HIGHLIGHTS


  • Drilling has intersected an interval of 5.2 metres grading 2.8 grams per
    tonne ("g/t") gold, including individual sample grades of 5.3 and 6.8 g/t
    gold.

  • Follow-up prospecting samples from a new target area have returned high
    gold grades including 73.3, 40.7 and 20.7 g/t gold.

  • Ongoing drilling and geochemical programmes are to be expanded.



Managing Director Kerr Anderson commented,

"The results from the first phase of drilling are very encouraging. As we have
been testing only a small part of the large geochemical anomalies at Tracia, our
drilling and geochemical programmes in the forthcoming months will be expanded
to allow an aggressive evaluation of all targets in the permit area.

"In addition, the high-grade results from prospecting samples taken as follow-up
to last year's work point to exciting new targets. We anticipate that this
ongoing regional work will result in the acquisition of further permits in the
Tracia area and we eagerly await the assay results from further sampling."



INITIAL DRILLING

The first drill holes on the Tracia permit have been designed to test the depth
extension of gold mineralization identified in trenches on the Fieitoso and
Casaldrago Prospects, which are located at the southern end of a large soil
anomaly.

Two holes, TH-01 and TH-02, have been drilled at Fieitoso. TH-02 has returned an
interval of 5.2 metres grading 2.8 g/t gold from 68.3 metres depth, which
includes individual sample grades of 5.3 and 6.8 g/t gold. Several intervals
with anomalous levels of gold occur in both holes, including 9.0 metres grading
0.3 g/t gold from 34.2 metres depth in TH-01. The extent of hydrothermal
alteration and sulphide veining observed in drill core provide further support
for the presence of a significant, shallow hydrothermal system at Tracia.

Drilling is continuing at the Casaldrago Prospect to test previously reported
surface trench intervals of 1.0 metre grading 34.7 g/t, and 1.5 metres grading
11.3 g/t gold (within 9.0 metres grading 2.7 g/t gold). Drilling is also planned
at Baltar, where limited trenching returned a best interval of 3.2 metres
grading 17.0 g/t gold.



HIGH-GRADE PROSPECTING SAMPLES

Prospecting and infill stream sediment sampling have also been ongoing this year
over a large area around the Tracia permit. New work at localities where
previous reconnaissance samples returned gold grades of 80.2 g/t and 11.1 g/t
gold, has located further mineralized blocks and outcrops over a wide area.

High grades of gold have been returned from several follow-up samples collected
from one of these localities. Of 28 samples taken, 15 samples (54 per cent)
returned grades between 1 and 8 g/t gold, with a further 3 samples returning
73.3, 40.7 and 20.7 g/t gold. A correlation between gold and bismuth in the
samples, also typical of mineralization at Tracia, is consistent with prominent
intrusion-related gold systems and emphasizes the prospective nature of this new
target area.

Further samples have been submitted to the laboratory for assay and prospecting
will continue during the summer.



BACKGROUND TO THE TRACIA PROJECT

Mineralization at Tracia is typically associated with zones of silicification
and discrete sulphide-bearing quartz veins in an altered, granitic host rock,
with many features characteristic of intrusion-related gold deposits. This
deposit type includes many multi-million ounce deposits worldwide (e.g. Fort
Knox with 5.4 Moz, and Pogo with 5.8 Moz, both in Alaska). The Salave deposit in
nearby Asturias is a local analogy, 160 kilometres northeast of Tracia, where
Rio Narcea Gold Mines Ltd is conducting a feasibility study and has recently
published estimated measured and indicated mineral resources of 1.5 million
ounces at a grade of 3.0 g/t gold.



Enquiries to:

Kerr Anderson, Managing Director,

Ormonde Mining plc Tel: [phone]

Fraser Gardiner, Investor and Media Relations,

Ormonde Mining plc Mobile: [phone]

Simon Rothschild,

Bankside Consultants Tel: [phone] Mobile: [phone]

ENDS



BACKGROUND INFORMATION

Ormonde Mining is quoted on the AIM and IEX markets in London and Dublin,
respectively. The Company is focused on acquiring and developing high-grade gold
projects in Spain. Ormonde's portfolio contains advanced projects with
substantial gold (and copper) resources, including La Zarza with one million
ounces of gold and 180 million pounds of copper, and other properties where the
Company anticipates that drilling will identify significant new resources. The
Company has a strong local Spanish management team, supported by a Board with
extensive exploration expertise in the region and mine development experience.

For more information, please visit www.ormondemining.com or contact the Company
at [e-mail].


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