Drilling Update

Ormonde Mining PLC
26 February 2008



                               Ormonde Mining plc



             Further Drilling Success at Salamanca Tungsten Project



DUBLIN & LONDON: 26 February 2008 - Ormonde Mining plc ("Ormonde" or the "
Company") is pleased to report further drilling success and progress on its
evaluation programme at the Barruecopardo Tungsten Project in Salamanca, Spain
(the "Project"), where it is continuing a "fast-track" evaluation following the
positive Order-of-Magnitude Study, details of which were reported on 24 January.





Highlights



•         New results include 1 metre grading 4.1% WO3 in BAR-28.  This is the
highest grade interval so far from the 2007-2008 drilling programme.



•         In addition, results from drill hole BAR-27 include 1 metre grading
1.1% WO3, 4 metres grading 0.43% WO3 and 4 metres grading 0.4% WO3.



•         Drilling continues to intersect and extend the mineralised zones which
formed the January resource estimate of one million tonnes grading 0.7% WO3.  To
date five main mineralised zones have been identified at the Project.



•         All drilling results received to date and new plans of the Project
area are contained in the PDF version of this announcement at
www.ormondemining.com/doc/press/pr080226.pdf.



•         The first stage of resource drilling has been completed along the 1.5
kilometre length of the known mineralised system.  The results of this programme
will be received during the next 2-3 months and are expected to show an increase
in the current 1 Mt resource towards the 1.5 Mt initial resource target.



•         Phase 1 metallurgical programme also in progress following on from
successful scoping level tests during 2007.





Kerr Anderson, Managing Director, said:



"We are very pleased with the rapid progress we continue to make at
Barruecopardo as we build upon the positive results of the Order-of-Magnitude
Study.  The new drilling results highlight the potential to add tonnage to our
existing resource estimate in the near-term, and we are increasingly confident
that we can achieve our stated initial 1.5 million tonne resource target with
the recent drilling programme."



"As we advance our evaluation of the Project we are also encouraged by recent
market commentary supporting our own view that tungsten has a promising future
with higher prices predicted over the term that we aim to have Barruecopardo in
production."





In January Ormonde reported its Order-of-Magnitude Study which indicated that an
underground production rate of 200,000 tonnes per year would be appropriate for
a start-up mining operation at the Project.  This could result in tungsten
production of 90,000 metric tonne units of WO3 per year.  The production rate
could be increased post start-up if, as expected, the reserve base at the
Project is upgraded on further drilling.  Total capital costs to develop the
Project would be in the region of €10-15 million, and net surplus cashflows from
the initial operation should be in the region of €5 million per year.





New Drilling Results



Significant assay results received since the last drilling report are as
follows:


Hole     From (m)         Width (m)             True Width (m)                          WO3%            Zone
BAR-27   28.0             4.0                   3.3                                     0.4             FP
         72.0             1.0                   0.8                                     1.1
         80.0             1.0                   0.8                                     0.5
         96.0             4.0                   3.3                                     0.4             FC
         264.0            1.0                   0.8                                     0.4
         282.0            2.0                   1.7                                     0.6             FM
BAR-28   16.0             1.0                   0.7                                     0.9
         171.0            1.0                   0.8                                     4.1             FM
BAR-29   63.0             1.0                   0.8                                     0.4             FC
         196.0            1.0                   0.8                                     0.3             FM



Zone codes:

FP = Filon Principal Zone

FC = Filon Central Zone

FM = Filon Maestro Zone



The interpretation of drill hole BAR-27 shows that it intersected all three
major zones in areas not included in the January resource estimate.  Three other
significant mineralised intervals were intersected which have not been included
in the resource; further interpretation work and the current definition drilling
programme will determine the continuity of these zones and assess their resource
potential.



BAR-28 and BAR-29 are infill holes primarily targeting the Filon Maestro Zone
and confirm the expected geological continuity.  BAR-28 further highlights the
potential for very high grades of tungsten in this zone.





Metallurgical Testwork



In July 2007, the Company reported preliminary metallurgical testwork undertaken
by SGS Lakefield Research on two samples of the tungsten mineralisation.  This
demonstrated that tungsten mineral(s) are coarse grained and would be
concentrated effectively by traditional low cost gravity equipment.  Further
detailed testwork is now underway to optimise a gravity testwork flowsheet and
determine the key processing parameters for the production of a saleable
tungsten concentrate.





Kerr Anderson PhD EurGeol PGeo, Managing Director of Ormonde Mining plc, and a
qualified person as defined in the Guidance Note for Mining, Oil and Gas
Companies, March 2006, of the London Stock Exchange, has reviewed and approved
the technical information contained in this announcement.



A glossary explaining technical terms contained in this announcement can be
found at www.ormondemining.com/projects/glossary.html.





Enquiries to:



Ormonde Mining plc

Kerr Anderson, Managing Director,

Fraser Gardiner, Director

Tel: [phone]



Bankside Consultants

Simon Rothschild / Louise Mason  Tel: [phone]   Mob: [phone]
167065



Davy (Nomad / IEX Adviser)

Fergal Meegan  Tel: [phone]



Brewin Dolphin (UK Adviser)

Gordon Culfeather  Tel: [phone]





ENDS





About Tungsten

Tungsten is most frequently used as tungsten monocarbide, which has a hardness
close to diamond, in cemented carbides.  The principal tungsten applications
include its use in cutting steels and in tungsten alloys, electronics, and
chemical products.



Prices of tungsten concentrates are expected to remain buoyant for the long
term, and are currently quoted by the Metal Bulletin in the range $160-$180 per
metric tonne unit.  A metric tonne unit is equal to 10kg of WO3, which equates
to 1.0% contained WO3 in the rock.





About Ormonde

Ormonde Mining plc is quoted on the AIM in London and the IEX in Dublin.
Ormonde is a mineral development and exploration company focused on Spain, with
the objective of developing mining projects and taking them into production.



For more information please visit www.ormondemining.com.




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