Statement re Suspension of Trading

Glencar Mining PLC
18 February 2000




Glencar announces that the Chairman will propose that the EGM due to take
place today the 18th February 2000 be adjourned sine die.

This is caused by a revision of the year 2000 production forecasts at its
Wassa gold mine in Ghana, since the 27th January Circular was issued, which
suggests that the anticipated production levels may not be reached within the
time envisaged.  As a result, the scheduled rights issue will not take place
at this time.

The Board wishes to state that the Company is in discussion with a major gold
producer to participate on an equity basis in its properties.
 
The Company is working with its advisors and banks in considering the best way
forward.

At a request of the Company the Irish Stock exchange has agreed to suspend
dealings in the Company's shares on the Exploration Securities Market pending
clarification of the matters contained in this announcement.

A further statement will be made shortly.