Exploration Update

Glencar Mining PLC 30 March 2005 Glencar Mining plc ('Glencar' or the 'Company') Sankarani Project, Mali - Exploration Update Glencar is pleased to announce the results of recent sampling in an exciting mineralised zone near Komana, within the Sankarani Project area in Mali, which comprises a total area of approximately 1,000 square kilometres. The mineralisation occurs in a highly sheared zone, with active and intensive associated artisanal activity over a strike length of more than 1 kilometre. Eighteen samples collected by Glencar from artisanal pits, excavated to depths of more than 30 metres, yielded an average gold grade of 5.68 grams/tonne. The gold occurs within a highly sheared suite of metasedimentary rocks including graphitic schists. The presence of quartz does not appear to be a prerequisite for gold development. Within the 1 kilometre strike length already defined, there are igneous bodies which have been intruded into this package of metasedimentary rocks. Our initial investigations have shown that gold is also found within these intrusive rocks and work is currently underway to establish the nature of such mineralisation and whether it is associated exclusively with quartz vein development or whether there is more widespread gold mineralisation within the intrusive. Work is continuing to ascertain the potential strike length of this exciting target prior to drilling. Background Glencar holds an interest in four exploration concessions in southern Mali. The area is underlain by rocks of the Birimian system, the prolific host rock for most of the world class deposits of West Africa, such as Morila in Mali and Obuasi, (Ashanti) in Ghana. Glencar has carried out detailed structural/ geological mapping, geochemical surveys and reinterpretation of the results of the airborne magnetic survey flown by the Government of Mali. The results of this work have led to the selection of four first-priority targets, of which Komana is one, which will be drilled during the current year. Further details about the Komana target and the other delineated targets will be made known in due course. It is likely that, with further detailed exploration and interpretative work, additional drill targets will be defined within the project area. The targets which will be drilled have been selected based on their prospective geological/structural features, strongly anomalous geochemistry and often associated active artisanal workings, indicating the presence of gold. A follow up programme of detailed mapping and sampling is being carried out and it is possible that, prior to the commencement of drilling, detailed geophysical, ground magnetic surveys will be carried out to enable better definition of the drill targets and more efficient utilisation of the drilling budget. For further information, please contact: Glencar Mining plc: Mr. Hugh McCullough Chief Executive Tel: + 353 1 661 9974 Fax: + 353 1 661 1205 This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange