FURTHER NEW DRILLING RESULTS

RNS Number : 1759Y

Griffin Mining Ld

17 December 2010

Griffin Mining Limited

Further New Drilling Results from Caijiaying

High Grade Gold Results

17th December 2010

Griffin Mining Limited ("Griffin" or the "Company") is pleased to announce further excellent results from its ongoing drilling programme at Zone III which continues to discover extensive high grade zones at its Caijiaying zinc gold mine in North East China. Very high-grade gold mineralisation was identified in extensions of both the Julong and Qinglong ore bodies. Better gold assays included:

12.30 metres @ 16.2 g/t Gold with 4.68% Zinc & 67 g/t Silver

16.15 metres @ 10.0 g/t Gold with 6.26% Zinc & 60g/t Silver

10.65 metres @ 10.2 g/t Gold with 5.9% Zinc & 27 g/t Silver

10.10 metres @ 17.9g/t Gold with 10.97% Zinc & 80g/t Silver

25.80 metres @ 6.4 g/t Gold with 6.47% Zinc & 35 g/t Silver

15.70 metres @ 4.3 g/t Gold with 1.98% Zinc & 47 g/t Silver

02.20 metres @ 127.5g/t Gold & 299g/t Silver

Significant high grade gold intersections are shown in the following table.

	From	To	Interval	Gold	Zinc	Silver	Lead
Hole No.	(m)	(m)	(m)	(g/t)	(%)	(g/t)	(%)
UGCJ Y- 833	23.5	39.6	16.15	10.0	6.26	60	0.16
UGCJY - 865	62.9	78.6	15.70	4.3	1.98	47	NA
UGCJY - 922	51.0	76.8	25.80	6.4	6.47	35	0.16
UGCJY - 976	18.5	28.6	10.10	17.9	10.97	80	0.29
UGCJY - 978	22.0	40.8	18.80	2.9	20.15	96	0.34
UGCJY - 1026	73.0	83.7	10.65	10.2	5.90	27	0.07
UGCJY - 1196	115.8	128.1	12.30	16.2	4.68	67	0.12
UGCJY - 1727	94.6	96.8	2.20	127.5	0.01	299	0.04
UGCJ Y- 1759	163.9	167.9	4.00	15.4	3.04	302	1.26

Competent Person Statement

The data in this report that relates to Exploration Results for the Caijiaying Area, China, is based on information reviewed by Mr Jack Drzymulski who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Drzymulski is a full time employee of Hebei Hua Ao Mining Industry Company Limited. Mr Drzymulski has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Drzymulski consents to the inclusion in the report of the Exploration Results in the form and context in which they appear.

Mladen Ninkov, Griffin's Chairman, commented on these drilling results as follows: "Caijiaying continues to deliver further and better mineralization with each drilling programme completed. These gold results only confirm the Company's long held belief that gold will continue to become a larger source of revenue at Caijiaying as the mine develops. This is yet another very significant win for the Company's shareholders."