Transaction in Own Shares

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

Transaction in Own Shares

28th March 2011

Griffin Mining Ltd ("the Company") announces that on 25th March 2011 Panmure Gordon purchased 100,000 of the Company's own ordinary shares ("Ordinary Shares") at an average price of 58.75p per share on behalf of the Company in accordance with the irrevocable and non-discretionary arrangement with Panmure Gordon, as announced on 1st February 2011. The Ordinary Shares have been purchased for cancellation (the "Purchase and Cancellation").

The purchase represented 0.06% of the Company's issued share capital before the Purchase and Cancellation and was pursuant to the byelaws of the Company and a resolution passed by the directors.

Following the cancellation of these Ordinary Shares there will be 177,466,830 Ordinary Shares in the Company in issue. There are no shares held in treasury.

Griffin Mining Limited +44 (0) 20 7629 7772

Mladen Ninkov, Chairman

Roger Goodwin, Finance Director

Panmure Gordon (UK) Limited +44 (0) 20 7459 3600

Dominic Morley

Hannah Woodley

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