La Zarza Copper-Gold Project

Ormonde Mining PLC
04 September 2006

04 September 2006



                               Ormonde Mining plc

  Scoping Study Indicates Positive Economics for La Zarza Copper-Gold Project,
                                     Spain

DUBLIN & LONDON: 04 September 2006 - Ormonde Mining plc ("Ormonde" or "the
Company") reports the completion of a pre-feasibility Scoping Study ("the Study
") for the La Zarza Copper-Gold Project in southwest Spain ("the Project"),
where it is earning a minimum 70% interest.

The Study demonstrates positive economics for an underground mining operation,
which would involve a Phase 1 development from surface to 460 metres depth via a
ramp-decline access mine, and a processing plant.  The additional work
programmes to complete the bankable feasibility study by mid 2007 are already
underway.

The main points from the Study, which includes estimates of capital and
operating costs to an accuracy of +/- 25%, are as follows:

• Phase-1 development envisages an underground mining operation producing
  450,000 tonnes per annum over a 10-year mine life.

• Mining would be by mechanised open-stoping via a new ramp access from surface.

• Copper, gold, silver, zinc and lead would be recovered from the ore by
  using conventional flotation technology to produce saleable copper, "precious
  metal" and zinc concentrates; previous evaluations had not considered the
  production of a zinc concentrate.

• Pre-production capital costs are estimated to be €26 million.

• Cash operating costs of €31 per tonne treated.

• At metal prices of $4,400/tonne ($2/lb) copper and $550/ounce gold,
  the ungeared IRR would be 21%, rising to 36% with appropriate gearing (at
  current prices of $7,000 copper and $600 gold, the IRR would be 65%).

• Deeper drilling will commence to extend the resource below its current
  base where the deepest existing hole returned 8 metres grading 2.6% copper and
  12 metres grading 8.3 g/t gold.


Kerr Anderson, Managing Director, said today,

"The positive outcome of the Study confirms our view that we have a viable
mining project.  The Study gives us confidence in the Project's cashflow
potential at the metal prices used, and if metal prices were to remain high, the
economic returns could increase substantially.  We are already proceeding with a
full feasibility study, and as much of the groundwork has already been carried
out in the Scoping Study, this should reduce the time required for the
completion of the feasibility stage".

The Study has been prepared by Ormonde with contributions from several
independent consultants including: Wardell Armstrong International, UK; Golder
Associates, UK; Prehenita S.L., Spain; FinOre Mining Consultants, Australia; S.
Nicol, Mining Consultant; and LN Metals International, UK.

The La Zarza copper-gold deposit has total resources of 6.8 million tonnes from
surface to a depth of 500 metres, the present limit of drilling (JORC-compliant
Mineral Resource estimate, 24 April 2006).  Although Ore Reserves have yet to be
defined, an estimate of "potentially mineable material" has been conducted for
the purposes of the Study, using a modelled stope optimization process (Datamine
MRO).  Based on the present drill spacing, 3.6 Mt of the resource is deemed
potentially mineable, and for the purposes of the Study it is assumed that an
additional 0.9 Mt will be upgraded to mineable as drilling progresses.

Deeper drilling and additional capital to extend the existing 270m deep shaft
would be required to mine the resources below 460 metres depth, the limit of the
present study, where the deepest drill hole intersection in the deposit returned
23 metres of mineralization including 8m grading 2.6% copper and 12m grading 8.3
g/t gold.

Metallurgical testwork has shown that zinc could be recovered in the flotation
plant, where previous evaluations had not considered the production of a zinc
concentrate.  This also opens up the possibility of mining zinc-copper rich
parts of the massive sulphide adjacent to the existing resource.

In addition to the Study, Ormonde is currently working with consultants
regarding environmental, health and safety and sustainability aspects to be
considered during development of the Project.  Base line studies for an
Environmental Impact Assessment have already commenced.

The other main items to be addressed in the Bankable Feasibility stage are as
follows:

• Completion of all infill drilling to enable definition of Ore Reserves

• Completion of optimisation and variability metallurgical testwork

• Finalisation of mill and mine designs

• Environmental and other regulatory requirements for full permitting of
  the proposed mining operation

• Negotiation of possible offtake arrangements for the main
  concentrates.


Enquiries to:

Kerr Anderson, Managing Director,
Ormonde Mining plc   Tel: [phone]

Fraser Gardiner, Director,
Ormonde Mining plc   Tel: [phone]

Simon Rothschild, PR and IR adviser,
Bankside Consultants   Tel: [phone]



ENDS


About La Zarza

The La Zarza Copper-Gold Project comprises a group of Mining Concessions
covering a total of 13 square kilometres in the Iberian Pyrite Belt mining
district of southwest Spain, some 50 kilometres north of Huelva and 90
kilometres northwest of Seville.  Ormonde signed an agreement with the owner of
the concessions in June 2004, whereby Ormonde can acquire a minimum 70% interest
by spending €1.8 million over 3 years.

In April 2006, Ormonde published a JORC-compliant Mineral Resource estimate for
the Project: total Indicated + Inferred resources of 6.8 million tonnes
containing 85,000 tonnes of copper, 486,000 ounces of gold and 6.9 million
ounces of silver.  The Project benefits from existing road, rail, power and
water infrastructure in the immediate proximity, a local skilled workforce and
available contractors in this historic mining area, and appropriate regulatory
and investment regimes.

About Ormonde

Ormonde Mining plc is quoted on the AIM in London and the IEX in Dublin.  The
Company's objective is to enhance shareholder value by developing gold-focused
projects in Spain and taking them into production.  Ormonde has a strong local
Spanish management team, supported by a Board with extensive mine development
and exploration experience.

For more information and contact details including email, please visit
www.ormondemining.com.










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