AGM/EGM Statement

Glencar Mining PLC
30 June 2005


                               GLENCAR MINING PLC

                               AGM/EGM Statement


                                  30 June 2005

At today's Annual General Meeting, Hugh McCullough, Chief Executive, made the
following statement:

Sankarani Project

On the Sankarani Project in Mali a mapping and sampling programme has been
completed at the Komana West prospect with 19 grab samples yielding an average
grade of 5.8 g/t from a 19 metre long exposure.

At Komana West previous rock sampling had returned gold grades from grab samples
of up to 108 g/t. A structural mapping programme carried out in May 2005
identified a generation of east-west trending veins within a north-south shear
envelope as a potential host for economic mineralisation. At the end of May 2005
Glencar's geology team was despatched to Komana to selectively sample exposures
in large pits excavated by artisanal miners. The objectives of the programme
were to:
                    
     1.   test the extent of mineralisation in various generations of quartz 
          veining identified by the structural study; and

     2.   determine the optimum orientation for drilling and trenching on the 
          target.

Exposures in four of the artisanal pits were sampled. Quartz vein stockwork was
identified in each pit. While each of the 4 pits yielded auriferous samples, the
northernmost of the pits gave the most significant results. East-west trending
quartz veins were sampled from a 19 metres north-south panel along an exposure
of the north-south trending shear envelope. Of the 19 quartz vein grab samples
taken 16 returned values of greater than 0.5g/t and the average grade of the 19
samples was 5.8g/t.

Drilling is scheduled for the Komana West prospect in the 4th Quarter of 2005.

Asheba Project

On 27 June 2005, the first assay results were received for the recently
completed soil geochemistry programme infilling and extending the geochemistry
grid north and east of the Atinasi North prospect in Ghana. 162 of the 284
samples for which assays have been received returned values of 100ppb or
greater. The highest grade returned was 3,870ppb at a location some 200m
southeast of the Alabee Zone just north of the main Atinasi drill grid.

During the past week Fugro Airborne Services have completed the data processing
and quality checks for the helicopter borne magnetic survey flown over the
western part of the Asheba concession in early June. Fugro Airborne Services has
informed us that both the magnetics and radiometrics data quality is
outstanding. We plan to have an interpretation of the data completed by our
consulting geophysicist during July 2005.

The results of these geochemistry and geophysics programmes, along with data
from the recently completed pitting programme at the Atinasi North prospect,
will be incorporated into our geological interpretations before finalising the
next round of drilling at Atinasi, scheduled for the 3rd Quarter of 2005.

Share Consolidation

Since the share consolidation proposed in the EGM Circular, posted to
shareholders on 7 June 2005, market conditions have changed considerably. In the
light of the more negative market conditions now prevailing, the Board is not
convinced that to proceed with the consolidation at the present time would be in
shareholders' best interests. Accordingly, the Board withdraws its
recommendation contained in the EGM Circular and proposes to vote against the
resolution with the votes and proxies at its disposal at the EGM.

SEAQ Facility

Glencars's shares are traded in Dublin on the Irish Enterprise Exchange ('IEX'),
the Irish equivalent of the AIM market in London. Glencar's shares have also
traded on the SEAQ facility of the London Stock Exchange. As a result of
European directives being introduced on 1 July 2005 the SEAQ facility will not
be available to Glencar from that date as Glencar is not listed on a regulated
market. However Glencar's shares will continue to trade on the IEX, which is an
exchange regulated market. Glencar intends to make an application for admission
to AIM shortly.


For Further Information:

Glencar Mining plc
Hugh McCullough
Tel:                              [phone]
e-mail:                           [e-mail]

Heneghan PR
Rachel Watchorn
Tel:                              [phone]
e-mail:                           [e-mail]


For further information please refer to the companies website
www.glencarmining.ie.


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