Counter Offer

28 Apr 2008 15:15

Griffin Mining Ld28 April 2008 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 28th April 2008 COUNTER OFFER TO PROPOSED ACQUISITION OF YUKON ZINC CORPORATION Griffin Mining Limited ("Griffin" or "the Company"), has been notified inwriting by Yukon Zinc Corporation ("Yukon Zinc") that it has received a cashoffer from another party for the acquisition of all the issued common stock ofYukon Zinc for a cash price of C$0.22 (twenty two Canadian cents) per share.The directors of Yukon have until 4.00pm, Vancouver time, Monday 28th April2008, to advise Griffin as to whether they will accept this offer. Under the terms of the agreement between Griffin and Yukon Zinc, Griffin hasfive business days to address the competing offer and Yukon Zinc has agreed topay a break fee to Griffin, under certain circumstances, of C$2.5 million andreimburse Griffin expenses incurred upon acceptance of such a competing offer. Further information Mladen Ninkov - Chairman Telephone: +44(0)20 7629 7772Roger Goodwin - Finance DirectorGriffin Mining Limited Adrian Hadden Telephone: +44(0)20 7523 8353Collins Stewart Europe Limited 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