Salamon Gold Deposit

Ormonde Mining PLC
17 June 2003

                               Ormonde Mining plc


Ormonde Mining options high-grade Salamon gold deposit in Spain Encouraging gold
                             results from NW Spain.


Ormonde Mining plc ("Ormonde"; ORM) is pleased to announce that it has signed a
Heads of Terms with SIEMCALSA, a Spanish geological company, relating to the
Salamon gold deposit and surrounding exploration permits, totalling some 120
square kilometres in the Leon Province of northern Spain. Under the terms of
this agreement, Ormonde has a three-month exclusivity period to examine
SIEMCALSA's existing data and resource models, followed by the option to enter
into a joint venture on the deposit to earn a 51% interest by spending €0.9
million on evaluation of the Salamon gold deposit and €0.3 million on
exploration.

Trenching and drilling by SIEMCALSA have outlined a high-grade gold deposit up
to 22m thick over a presently defined strike length of some 350 metres.
SIEMCALSA's most recent resource estimate for the upper 100-120 metres of the
deposit is some:


640,000 tonnes grading 9.1 g/t gold (187,000 oz)


Better drill hole intervals include:


29.0m grading 20.5 g/t gold - from 70.5m depth in hole S-31

16.0m grading 7.6 g/t gold - from 64.0m depth in hole S-17

14.0m grading 5.7 g/t gold - from 24.0m depth in hole S-6


The steeply-dipping deposit remains open at depth and partially along strike to
the northeast, where recent trenching has returned intervals including:


26.5m @ 13.4 g/t gold

13.2m @ 25.8 g/t gold


A step-out drilling programme has been scheduled to start in September.


The surrounding 120 square kilometre exploration ground is considered highly
prospective, containing many old workings and gold showings. Recent trenching on
one prospect some 1.8 kilometres to the west of Salamon returned a best interval
of:


11.5m @ 4.1 g/t gold


Following further trenching to better define this westerly mineralised zone, it
is intended to drill this prospect later this year.


Preliminary metallurgical testwork carried out on the Salamon deposit indicates
that gold recoveries of 80-90% can be achieved by sulphide pre-treatment
followed by cyanidation.


The medium-term objective would be to establish a resource of over 500,000
ounces of gold at Salamon and thereafter to commence pre-feasibility studies on
the economic viability of a mining operation.


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]



17 June 2003


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