Drilling Report

Glencar Mining PLC
28 November 2000



            Glencar finds gold on neighbouring site to Ghana mine


Glencar Mining plc ('Glencar'), the Dublin and London traded mining company,
reports that it has discovered significant gold mineralisation on a new
prospect close to its existing Wassa mine in Ghana.

Results of the first phase of exploration at Bawdia Bosso, an area
approximately 2 kilometres to the west of the existing open pits of the Wassa
mine, indicate the presence of ore-grade gold mineralisation at shallow
depths.

'These results reflect the very significant potential for the development of
substantial additional reserves in new zones, separate from the existing
workings', Mr Hugh McCullough, chief executive, said today.

Glencar reports that a total of nineteen, angled reverse circulation
drillholes were completed to a maximum depth of 80 metres. The holes were
drilled to test extensive surface development of gold in old workings and
recent trenching carried out by its subsidiary, Satellite Goldfields Limited.
All holes were drilled at 60 degrees to the horizontal. Recent surface
trenching had intersected up to 9.8 grams / tonne gold over 11 metres.
Drilling beneath this trench intersected 6 metres at 15 grams / tonne between
24 and 30 metres downhole depth. Other anomalous intersections are tabulated
below.


   Hole No.      From      To                     Intersection
      BB1        24m      30m                    6m @ 15.01 g/t
      BB2        24m      27m                     3m @ 0.6 g/t
      BB6        30m      33m                     3m @ 0.64 g/t
      BB7        24m      39m                    15m @ 2.19 g/t
      BB9        30m      39m                     9m @ 1.04 g/t
     BB10        15m      18m                     3m @ 5.46 g/t
     BB10        36m      42m                     6m @ 2.92 g/t
     BB11        24m      33m                     9m @ 1.84 g/t
     BB13        15m      24m                     9m @ 1.05 g/t
     BB15        12m      15m                     3m @ 0.71 g/t
     BB17        18m      21m                     3m @ 0.75 g/t


Glencar states that the second phase drilling programme, designed to test
these and other anomalous zones to the west and southwest of the existing pits
has already commenced.

'The results of this first phase programme confirm our view that the Wassa
Mining Lease contains the potential to host substantial additional gold
reserves, the delineation of which will be actively pursued over the next six
months,' said Mr McCullough.

28 November, 2000

Contact:     Hugh McCullough           [phone]

             Glencar Mining plc

             Keith Irons               [phone]

             Bankside Consultants