Drilling Results

Ormonde Mining PLC
21 January 2004


                               Ormonde Mining plc

                      High gold grades in Salamon drilling


The Board of Ormonde Mining plc ("Ormonde" or "the Company") is pleased to
announce further drilling results from the Salamon gold deposit in northern
Spain. Results have now been received from holes drilled principally on the
north eastern end of the deposit, where high-grade mineralization had previously
been identified in surface trenches. The drilling results show higher grade gold
intervals often occurring within broader lower grade zones, and include:

                Hole     Interval (m)    Gold (g/t)    From (m) 
                SS-40             14.3           3.6        46.6
                incl               4.1           6.9        46.6
                SS-41              3.3           5.6        28.7
                SS-43              2.4          12.0        40.8
                SS-44              6.5           2.9        39.4
                incl               1.7           8.5        42.8
                SS-47              6.6           3.5        28.8
                incl               3.0           4.5        28.8
                and                7.3           3.5        43.5
                incl               3.9           5.0        43.5
                SS-48              1.8           7.7        22.2
                SS-50              1.0          13.7       103.7


The results from these holes demonstrate that the surface gold mineralization in
the north eastern end of the deposit continues at depth, over narrower intervals
than those encountered in trenches. The surface mineralization may also extend
some 150 metres along strike to the east, where samples have yielded average
grades of 7.8 g/t (7 samples) and 16.9 g/t (3 samples) gold respectively from
two closely-spaced localities.

Detailed interpretation of these results is being carried out and exploration at
Salamon is now focussed on preparation for the Stage 2 drilling programme,
scheduled for the second quarter of this year. This next phase of drilling will
test for depth extensions to the central zone in the deposit, where a previous
isolated hole intersected 6.0m grading 2.7 g/t gold (maximum grade of 4.7 g/t
gold) within a 20 metre interval of alteration some 100 metres below the current
resource; this provides a strong indication that the system continues to at
least 200 metres depth.

Further surface sampling will also be carried out on the recently reported
high-grade gold in hanging wall and footwall rocks with a view to detailing
targets for inclusion in the Stage 2 drilling programme. The footwall zone below
the deposit returned an average grade of 8.6 g/t gold from 20 short channel
samples, and mineralized outcrops of conglomerate in the hanging wall above the
deposit returned best values of 9.7 and 8.8 g/t gold.

The Company is most encouraged by the results of ongoing exploration at Salamon,
and looks forward to the next phase of drilling.



Enquiries to:

Kerr Anderson - Managing Director
Ormonde Mining plc
Tel: [phone]
[e-mail]

Colin Andrew - Chairman
Ormonde Mining plc
Tel: [phone]
[e-mail]

John Carroll - Director
Ormonde Mining plc
Tel: [phone]
[e-mail]

Eugenee Mulhern
Davy Corporate Finance Limited
Tel: [phone]

21 January 2004

ENDS


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