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Griffin Mining News
Date:27 July 2007
Headline:COMPLETION OF £75 MILLION SHARE PLACEMENT TO CITADEL

Further to the announcement made on 11th July 2007, Griffin Mining Limited (the “Company”) has executed a subscription agreement with and, subject to admission of the shares to trading on AIM, issued to Citadel Equity Fund Limited 68,181,818 million shares at £1.10 per share for total proceeds of £75 million. Admission of the shares to trading on AIM is expected on 1st August 2007, following which entities affiliated with Citadel Investment Group, L.L.C, will have an interest in 77,181,818 shares of the Company. This represents 29.51% of the enlarged share capital of the Company which post this placement will be 261,509,549 ordinary shares on issue.
Griffin Mining Limited
6th Floor
60 St James's Street
London
SW1A 1LE

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