Gold Results from Spain

Ormonde Mining PLC 07 January 2003 Ormonde Mining plc Encouraging gold results from NW Spain. Ormonde Mining plc ("Ormonde"; ORM) is pleased to announce that ongoing rock sampling on two permit areas in Galicia, NW Spain, has returned very encouraging gold assay results. TRIVES Over the past few months Ormonde has been investigating a high-grade gold occurrence exposed in Roman workings (pits) at Portas on its Trives property in NW Spain. This work has revealed that gold mineralization is contained in a 20m wide NW-trending structural zone. Within this zone the gold occurs both as sub-vertical lenses parallel to the structural trend, and also in stacked narrow veins, which run perpendicular to the structural zone, cutting across the structure-parallel gold-bearing lenses. In sampling of surface workings to-date the two styles of mineralization have been sampled and assayed separately, the relevant results being: Sub-vertical lenses: 2.0m @ 7.3 g/t gold (within 8.0m @ 2.6 g/t) 4.0m @ 4.9 g/t gold 2.5m @ 5.0 g/t gold Cross-cutting veins: 7.1, 17.2, 19.6 and 28.6 g/t gold Previous sampling of the veins has returned grades of 14.5, 30.6 and 106.8 g/t gold. The inclusion of the cross-cutting veins with the intersections through the sub-vertical lenses increases the overall grade of the intersection. However, it will not be possible to determine overall true widths and average gold grades until representative intersections are obtained from suitably orientated core drilling. Historical soil sampling in the area of the pits shows anomalous gold values in soils of greater than 500 ppb over a strike length extending some 800 metres southeast from the main pit sampled, with soil samples yielding maximum values of 3.5, 4.8 and 7.0 g/t gold. Ormonde is very encouraged by these results and consequently is planning a diamond drilling programme on the property for late spring, 2003 when the necessary permitting required to enable drilling should be issued. TRACIA On the Tracia permit, gold mineralization has been identified in altered granite, associated with veining, silicificaton and sulphides. To-date, gold has been found in four principal locations in both outcrop and float. Recent sampling of quartz float with arsenopyrite returned a value of 58.0 g/t gold, with previous samples of similar veins in outcrop and float returning best values of 10.3, 11.1 and 22.7 g/t gold. In addition, Roman diggings and workings have been identified. Further work in NW Spain will focus on the principal prospects outlined to-date. It is worth commenting that gold mineralization exposed in Roman pits has played a significant role in the discovery of important gold deposits in NW Spain, including El Valle operated by Rio Narcea Gold Mines ( 160,000 oz production forecast for 2002 at a head grade of 7-8 g/t gold). Enquiries to: Kerr Anderson - Managing Director Ormonde Mining plc Tel: 00 353 46 73623 kanderson@ormondemining.com Colin Andrew - Chairman Ormonde Mining plc Tel: 00 353 46 73623 candrew@ormondemining.com John Carroll - Director Ormonde Mining plc Tel: 00 353 1 492 2936 offacc@iol.ie Eugenee Mulhern Davy Corporate Finance Limited Tel: 00 353 1 679 6363 7 January 2003 This information is provided by RNS The company news service from the London Stock Exchange