Griffin Mining Regulatory News (GFM)

8th Floor, Royal Trust House, 54-56 Jermyn Street, London. SW1Y 6LX, United Kingdom

Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773

E mail: griffin@griffinmining.com

17th April 2025

First Quarter Production 2025

Griffin Mining Limited ("Griffin" or the "Company") announces its production results from the Caijiaying Zinc-Gold Mine for the three months ended 31 March 2025.

Overview

The fatality of a Caijiaying mining contractor's employee in October 2024, which caused the suspension of operations at the Caijiaying Mine for most of the last quarter of 2024 before operations recommenced on 1 January 2025, not only impacted operational results in 2024, but had flow on effects into the first quarter of 2025, and in particular, January and February 2025. The total closure of all underground workings during the last quarter of 2024 prevented any underground access for drive and stope development leading to a lack of available ore for mining in the first quarter of 2025.

In addition, first quarter production at the Caijiaying Mine was impacted by the Chinese Lunar New Year and Spring Festival holidays causing disruption to operations by lack of certain administrative approvals due to government department shutdowns and the travel of staff and contractors to their home Provinces, towns and villages throughout the period. The slower activity period was utilized by scheduling mine and processing plant maintenance.

Since early March, there has been an increase in ore mined, ore processed and higher ore grades such that the Company expects ore mined and processed will be able to achieve the equivalent annualised rate of 1.5 million tonnes of ore per annum in the remainder of 2025.

Mladen Ninkov, Chairman, commented:

"The death of one of our mining contractor's employees was not only a tragic human event, but also a significant negative impact to our operations in late 2024 and into early 2025. We hope this is the last of the "black swan" events for the foreseeable future and that the Company can resume normal operations at its normalised throughput and production results. I still believe 2025 will be a watershed year for both the Company and the shareholders. We await what the year will bring."

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

Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772

Roger Goodwin - Finance Director

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

James Sinclair-Ford

Douglas McLeod

Berenberg Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Lee

Deltir Elezi

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").