Result of AGM & EGM

Ormonde Mining PLC
14 May 2001


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



The board of Ormonde is pleased to announce that all resolutions proposed at
its Annual General Meeting and Extraordinary General Meeting, each held on
Saturday, 12 May, 2001, were approved.


At the Extraordinary General Meeting, shareholders of Ormonde approved inter
alia a placing and an underwritten open offer to raise IR£400,000 before
expenses. The net proceeds of the placing and open offer will be used to
facilitate the strategic repositioning of Ormonde away from its existing gold
interests in Tanzania by funding the process of identification of new
opportunities in both base and precious metals in Europe and North Africa. The
balance of the funds will be used to discharge certain outstanding
liabilities, including a pre-arranged partial cash settlement with internal
and external creditors of the Company and for working capital purposes.


Dealing in the 20,000,000 Ordinary Shares of nominal value IR2p each allotted
pursuant to the placing and open offer is expected to commence on the
Exploration Securities Market of the Irish Stock Exchange on Tuesday, 15 May,
2001.


In addition, shareholders appointed Mr. Colin Andrew and Mr. John Carroll as
non-executive directors of the Company. Mr. Colin Andrew assumes the role of
Chairman vacated by Mr. Michael Donoghue and Mr. John Carroll replaces Mr.
Hugh McCormack.


For further information please contact:


Eugenee Mulhern

Davy Corporate Finance Limited

[phone]



14 May, 2001