NEWS

Fourth Quarter & Full Year Production Numbers 2022

13^th January 2023

Griffin Mining Limited (“Griffin” or the “Company”) announces the production results from the Caijiaying Zinc Gold Mine for the three months and year ended 31^st December 2022.

 Overview

First quarter results were impacted by the enforced suspension of all operations at the Caijiaying Mine for the Chinese Lunar New Year holiday celebrations, the Winter Olympics and the subsequent Winter Paralympics. Mining recommenced on the 23^rd March and processing on the 25^th March 2022.  Operations were again suspended by the Chinese authorities restricting the supply and use of explosives for the duration of the Chinese Communist National Party Congress from 22^nd September to 17^th November 2022.

Following the recommencement in operations in November, production has been ramped up such that ore mined and processed in December 2022 was a monthly record for the Caijiaying Zinc Gold Mine, allowing us to exceed our production guidance for the quarter and the year given in November.  The Company continues to be confident in its key objectives of reporting a profitable 2022, development of Zone III and II, and to increase production throughput to 1.5 million tonnes in 2023.

 Mladen Ninkov, Chairman, commented:

 “The Company has produced outstanding production numbers in the last quarter and for the full 2022 year in light of the 5 month shut-down in production in 2022. It provides a revelatory glimpse of what the Company can produce on an annualised basis in 2023 particularly in light of the record 138,000 tonne throughput in December 2022. We look forward to the year ahead with great excitement.”

  About Griffin Mining Limited 

 Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China, the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website griffinmining.com.

Further information

Griffin Mining Limited                   Telephone: +44(0)20 7629 7772

   Mladen Ninkov – Chairman

   Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                    Telephone: +44 (0)20 7886 2500

   John Prior

   Douglas McLeod

Berenberg                       Telephone: +44(0)20 3207 7800

   Matthew Armitt

   Jennifer Wyllie

   Deltir Elezi

BlytheRay                Telephone: +44(0)20 7138 3205

   Tim Blythe

Capital Share Structure Rationalization & Incentivization Program

 31^st January 2023

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce that, further to the announcement made on 30^thDecember 2022 concerning a rationalization of the capital structure of the Company by the proposed repurchasing and cancellation of the long outstanding options to purchase 19,520,000 shares in the Company (“the Offer”), options over 17,520,000 shares have been repurchased and cancelled, resulting in 10,130,526 new ordinary shares being issued pursuant to the Offer.

Application will be made for the new ordinary shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM which is expected to commence on, or around, 3^rd February 2023 (“Admission”).

Following Admission, the issued share capital of the Company will comprise 185,023,420 ordinary shares. The Company holds 939,799 ordinary shares in the Company in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA’s Disclosure and Transparency Rules.

The remaining options over 1,500,000 shares in the Company exercisable at 30 pence per share and 500,000 shares in the Company exercisable at 40 pence per share will remain outstanding until 31^st December 2023.

Further shares to be issued under the Share Incentivization Program as announced on 30^th December 2022 have yet to be determined and will be announced when finalised.

About Griffin Mining Limited 

 Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website griffinmining.com.

Further information

 Griffin Mining Limited               Telephone: +44(0)20 7629 7772

   Mladen Ninkov – Chairman

   Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                 Telephone: +44 (0)20 7886 2500

   John Prior

  Dougie McLeod

Berenberg                 Telephone: +44(0)20 3207 7800

  Matthew Armitt

  Jennifer Wyllie

  Deltir Elezi

BlytheRay              Telephone: +44(0)20 7138 3205

 Tim Blythe

Capital Share Structure Rationalization & Incentivization Program

 30^th December 2022

Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce a rationalization of the capital structure of the Company by the proposed repurchasing and cancellation of the long outstanding options over shares in the Company issued in 2014 and 2015 (the “Options”) exercisable at forty pence and thirty pence per share respectively by 31^st December 2023.

In consideration of the surrender of the Options, a number of fully paid shares in the Company will be issued to those Option holders equal to the inherent monetary value in the Options (the “Scheme”). As those Options were issued by the Company to incentivize the Option holders in the pursuit of the new mining licence over Zone II, which was granted in January 2021, and the fully diluted share capital of the Company has included the Options, the Scheme is being implemented to simplify the capital structure of the Company.

Should all the Option holders agree to the Scheme, the number of Options cancelled by the Company will amount to 19.52 million Options. At the market closing price of the Company’s shares as at 24^th  December 2022, if all Option holders accepted the Scheme offer, approximately 11.165 million new fully paid ordinary shares would be issued. The exact number of new shares issued will be announced after ascertaining which and how many Option holders accept the Scheme.

The offer to the Option holders to accept the Scheme will remain open for 14 days following the date of this announcement.

A new Company share incentive plan will also be implemented to retain vital key executives of the Company, in particular, Mladen Ninkov. Up to 10 million new fully paid ordinary shares may be issued which will be escrowed until the 31^st December 2024. Further details of the share incentive plan including the exact number of shares issued will also be announced when finalised.

In both above new share issues, at no time will the aggregate number of total shares issued under the Scheme and the Management incentive plan ever exceed the current total of 19.52 million outstanding Options in issue and, as such, the share issues will be non-dilutive to the current shareholders of the Company assuming all current outstanding Options were exercised before their expiry date.

 Chairman of the Remuneration Committee, Dean Moore, commented, “I am pleased that the Board has adopted the recommendations of the Remuneration Committee designed to deliver a reward structure which wholly aligns the interests of key management with all stakeholders over the next 2 years.”

About Griffin Mining Limited 

 Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website griffinmining.com.

Further information

Griffin Mining Limited                 Telephone: +44(0)20 7629 7772

   Mladen Ninkov – Chairman

   Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited               Telephone: +44 (0)20 7886 2500

  John Prior

  Dougie McLeod

Berenberg                    Telephone: +44(0)20 3207 7800

  Matthew Armitt

  Jennifer Wyllie

  Deltir Elezi

Capital Share Structure Rationalization & Incentivization Program

 30^th December 2022

 Griffin Mining Limited (“Griffin” or the “Company”) is pleased to announce a rationalization of the capital structure of the Company by the proposed repurchasing and cancellation of the long outstanding options over shares in the Company issued in 2014 and 2015 (the “Options”) exercisable at forty pence and thirty pence per share respectively by 31^st December 2023.

In consideration of the surrender of the Options, a number of fully paid shares in the Company will be issued to those Option holders equal to the inherent monetary value in the Options (the “Scheme”). As those Options were issued by the Company to incentivize the Option holders in the pursuit of the new mining licence over Zone II, which was granted in January 2021, and the fully diluted share capital of the Company has included the Options, the Scheme is being implemented to simplify the capital structure of the Company.

Should all the Option holders agree to the Scheme, the number of Options cancelled by the Company will amount to 19.52 million Options. At the market closing price of the Company’s shares as at 24^th  December 2022, if all Option holders accepted the Scheme offer, approximately 11.165 million new fully paid ordinary shares would be issued. The exact number of new shares issued will be announced after ascertaining which and how many Option holders accept the Scheme.

The offer to the Option holders to accept the Scheme will remain open for 14 days following the date of this announcement.

A new Company share incentive plan will also be implemented to retain vital key executives of the Company, in particular, Mladen Ninkov. Up to 10 million new fully paid ordinary shares may be issued which will be escrowed until the 31^st December 2024. Further details of the share incentive plan including the exact number of shares issued will also be announced when finalised.

In both above new share issues, at no time will the aggregate number of total shares issued under the Scheme and the Management incentive plan ever exceed the current total of 19.52 million outstanding Options in issue and, as such, the share issues will be non-dilutive to the current shareholders of the Company assuming all current outstanding Options were exercised before their expiry date.

Chairman of the Remuneration Committee, Dean Moore, commented, “I am pleased that the Board has adopted the recommendations of the Remuneration Committee designed to deliver a reward structure which wholly aligns the interests of key management with all stakeholders over the next 2 years.”

About Griffin Mining Limited 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website griffinmining.com.

Further information

Griffin Mining Limited           Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                   Telephone: +44 (0)20 7886 2500

John Prior

Dougie McLeod

Berenberg                      Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

BlytheRay                Telephone: +44(0)20 7138 3205

Tim Blythe

Chinese Communist Party’s 20^th Congress

Cessation of Explosives Production & Delivery

Consequential Production Shutdown

 20^th September 2022

Griffin Mining Limited (“Griffin” or the “Company”) announces, following the press release of the Chinese Politburo on the 30^thAugust 2022 that the Plenary Session of the Communist Party Central Committee will begin on the 9^th October 2022, followed by the Chinese Communist Party’s 20th Party Congress on the 16^th October 2022, that the Ministry of Public Security has commenced the implementation of severe security measures to ensure the safety of those proceedings, including restrictions on the manufacture and supply of explosives in the 4 major Municipalities surrounding the Beijing area, being Zhangjiakou, Cheng De, Tian Jin and Boa Ding.

Consequently, as the Caijiaying Mining is located in the Municipality of Zhangjiakou, explosives can no longer be acquired or delivered to the Caijiaying Mine. The current inventory of explosives has been exhausted, mining and haulage has decreased and processing and milling is expected to cease on Thursday, 22^nd September 2022. It is expected that full operations will recommence at the Caijiaying Mine on Tuesday 1^st November.

A plenum of the Chinese Communist Party is normally held in October of every year and, as such, the Company plans and budgets for normal disruption to October production. However, this extended period of unavailability of explosives will inevitably have a significant impact on September and October results. Nevertheless, the Caijiaying Mine has increased production over the past quarter at accelerated rates to record levels unseen in the history of the Caijiaying Mine which may offset any prolonged risk to production due to the Congress.

Additional measures in mine planning and resources have been taken to ensure that the record levels of production return quickly after the disruption has concluded with monthly production rates in the approximately 1.5 million tonne range, on an annualised basis, upon resumption.

Chairman Mladen Ninkov commented, “It is an unfortunate consequence of the importance of this year’s Communist Party’s Congress that such strict security measures have been mandated by the Beijing Ministry of Public Security. Nevertheless, the extraordinary efforts of all concerned in reaching a 1.5 million tonne throughput recently, on an annualised basis, from just Zone III, will ensure that the production and financial impact to Griffin will be minimized to the greatest extent possible.”

  About Griffin Mining Limited 

 Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China  the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website giffinmining.com.

Further information

Griffin Mining Limited                            Telephone: +44(0)20 7629 7772

   Mladen Ninkov – Chairman

   Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                           Telephone: +44 (0)20 7886 2500

   John Prior

  Douglas McLeod

  Alisa MacMaster

Berenberg                               Telephone: +44(0)20 3207 7800

  Matthew Armitt

  Jennifer Wyllie

  Deltir Elezi

Blytheweigh                            Telephone: +44(0)20 7138 3205

  Tim Blythe

Swiss Resource Capital AG                          Telephone: +41(0)71 354 850

Receipt of Dividends  from China

 24^th  August 2022

Griffin Mining Ltd (“the “Company” with its subsidiaries “the Group”) is pleased to announce that yesterday, it received into the Group’s bank accounts outside of China, dividends from its operating Chinese subsidiary, Hebei Hua Ao Mining Industry Company Limited, in the amount of Renminbi 104,858,176 (US$15.2 million). The net funds were received in the normal course of business and in normal electronic wire transfer times.

The Company hopes this allays the fears expressed by potential investors concerning the repatriation of funds from China, particularly in light of the recent political and economic commentary generated by this region.

About Griffin Mining Limited 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates in China, through its 88.8% owned Joint Venture stock company, the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website www.griffinmining.com.

Further information 

Griffin Mining Limited                  Telephone: +44(0)20 7629 7772

   Mladen Ninkov – Chairman

   Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                       Telephone: +44 (0)20 7886 2500

    John Prior

    Ailisa MacMaster

Berenberg                          Telephone: +44(0)20 3207 7800

   Matthew Armitt

   Jennifer Wyllie

   Deltir Elezi

BlytheRay                     Telephone: +44(0)20 7138 3205

   Tim Blythe

Swiss Resource Capital AG                         Telephone: +41 (0)71 354 8501

   Jochen Staiger

To read the full Interim Results, please click here.

Annual General Meeting

 15^th July 2022

The Board of Griffin Mining Ltd (“the Company”) is pleased to announce that all the resolutions put to the shareholders of the Company at the Annual General Meeting held today were duly passed.

About Griffin Mining Limited 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates in China, through its 88.8% owned Joint Venture stock company, the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website www.griffinmining.com.

Further information

Griffin Mining Limited                Telephone: +44(0)20 7629 7772

        Mladen Ninkov – Chairman

        Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                                 Telephone: +44 (0)20 7886 2500

        John Prior

        Ailisa MacMaster

Berenberg                              Telephone: +44(0)20 3207 7800

        Matthew Armitt

       Jennifer Wyllie

       Deltir Elezi

BlytheRay                    Telephone: +44(0)20 7138 3205

       Tim Blythe

Swiss Resource Capital AG                    Telephone: +41 (0)71 354 8501

       Jochen Staiger