Completion of Share Placement

27 Jul 2007 07:00

Griffin Mining Ld27 July 2007 GRIFFIN MINING LIMITED 60 St James's Street, London SW1A 1LE, United Kingdom Telephone: + 44 (0)20 7629 7772 Facsimile: + 44 (0)20 7629 7773 E mail: griffin@griffinmining.com 27th July 2007 COMPLETION OF £75 MILION 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 admissionof the shares to trading on AIM, issued to Citadel Equity Fund Limited68,181,818 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, willhave an interest in 77,181,818 shares of the Company. This represents 29.51% ofthe enlarged share capital of the Company which post this placement will be261,509,549 ordinary shares on issue. Further information Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772Roger Goodwin - Finance DirectorGriffin Mining Limited Adrian Hadden / Christopher Rollason Telephone: +44(0)20 7523 8353Collins Stewart Europe Limited Hugo de Salis Telephone: +44(0) 20 7242 4477St Brides Media & Finance Ltd Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). The Company's news releases are available on the Company's web site:www.griffinmining.com This information is provided by RNS The company news service from the London Stock Exchange