Exercise of Option Over Griff-Tech.com Shares

Griffin Mining Ld 25 February 2000 Exercise of option to acquire 7,150,591 ordinary shares in Griff-Tech.com plc. Following the closing of the Griff-Tech.com plc's ('Griff-Tech') offer to shareholders of Griffin Mining Limited ('Griffin') of 20,451,775 new ordinary shares in Griff-Tech, Griffin shareholders have subscribed for 17,576,315 shares representing 86% of the shares offered. The balance of 2,875,460 of the offered shares have been taken up pursuant to the underwriting arrangements. Griffin has today given notice of its intention to exercise its option to subscribe for 7,150,591 ordinary shares in Griff-Tech.com plc ('Griff-Tech') at an exercise price of 1p. Griff-Tech has been informed by antfactory Holdings Limited and Gem Management Limited of their intention to exercise options over a total of 1,000,000 new ordinary shares in Griff-Tech at 1p per share and over a total of 1,250,000 new ordinary shares in Griff-Tech at 2p per share immediately following admission of the offering shares to the Alternative Investment Market ('AIM'), expected to be on 28th February 2000. Following admission of the 20,451,775 offer shares and the exercise by Griffin, antfactory Holdings Limited and Gem Management Limited of the options described above, there will be 29,852,366 Griff-Tech ordinary shares in issue, of which Griffin will hold 7,150,591 shares, representing 24 per cent. Options remain outstanding in favour of antfactory Holdings Limited and Gem Management Limited over a further 1,250,000 additional new ordinary shares in Griff-Tech at 5p per new ordinary share. Further information Craig Niven (Chairman) - Griffin Mining Limited: Telephone: +44 (0)207 321 2077 Stephen Goschalk - English Trust Company Limited: Telephone: +44 (0)207 608 0888 Charles Dampney - Charles Stanley & Company Limited Telephone: + 44 (0)1273 486244 Griffin Mining Limited's shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM) and traded on the Canadian Dealing Network in Toronto (symbol GRFM). Corporate information and share prices can be accessed via the Newstrack Service on Reuters (symbol GFM.L) (page JPJA), Bloomberg (symbol GFM LN), ICV Topic (*1180). The Company's news releases are available on the Company's web site: www.griffinmining.com