Exploration Update

Glencar Mining PLC
13 April 2004

Glencar Mining plc

13 April 2004




                Glencar Mining plc ('Glencar' or the 'Company')


               Glencar Announces Exceptional Sample Assay Results

                          from Sankarani Project, Mali




Glencar is pleased to announce the results of the first phase soil and
rock-sampling programme at Farasaba, in its Sankarani Project in Southern Mali.
The assays have returned some exceptionally high gold values within a broadly
anomalous, NW-SE trending zone, some 2.5 kilometres long and which is open at
either end. Values of up to 32,410 ppb (32.4 grams per tonne) have been received
with other exceptionally high values of 28,740 ppb (28.7 grams per tonne) and
23,814 ppb (23.8 grams per tonne) also being recorded.


Glencar's initial geological prospecting on the Sanakarani Project has
identified a number of target areas with favourable geology/structure,
geochemistry and/or active artisanal workings. The recently completed sampling
programme at Farasaba was centred on an area of active artisanal activity which
showed extensive alteration of the rocks in the vicinity of the mineralised
zones. Sampling was carried out on a 100m x 100m grid over an area of 4 square
kilometres and approximately 475 samples were collected and analysed by fire
assay for gold.


Satellite imagery interpretation has identified the presence of NW-SE trending
structures in the region and also cross cutting E-NE trending structures.


Most of the high values were recorded in soil samples while the value of 28,740
ppb was returned from a laterite sample. All soil samples were collected at
depths of between 35 centimetres and 50 centimetres, while the laterite samples
were collected at depths of approximately 10 centimetres.


This Farasaba Prospect is part of a 500 square kilometre licence area in which
Glencar is in the process of earning an 85% interest through exploration
expenditures and the issue of up to 1.5 million shares over a four-year period.
A further 500 square kilometre licence area, adjacent to and north of the
existing area, will be issued shortly in which Glencar has also the right to
earn an 85% interest through further exploration expenditures and the issue of
up to a further 1.5 million shares over a four year period.


These exceptionally encouraging results from this, Glencar's first field
sampling programme in Mali, confirm the potential for the discovery of economic
gold mineralisation at Farasaba and elsewhere within the 1,000 square kilometre
area of our Sankarani Project.






For further information, please contact:



Hugh McCullough

Chief Executive, Glencar Mining

Tel:   + 353 1 661 9974



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