Mr William Mulligan has resigned as a director of Griffin Mining Limited (“the Company”) with immediate effect having voluntarily resigned upon reaching his 70th birthday.

Chairman’s comment:

Chairman Mladen Ninkov stated: “It with profound sadness that we accept the resignation of Bill Mulligan as a director of the Company. Bill was a foundation director of Griffin when it acquired its initial interest in Caijiaying in 1997 and has provided wise guidance, counsel and enthusiasm throughout the development, commissioning and subsequent expansions of the Caijiaying operations. Bill has been a giant of the mining industry throughout his exceptional career at Amax, Lehman Brothers, Chase Manhattan, Prudential Bache and many other major corporations. My fellow directors and I wish him a long, healthy and prosperous retirement. He will be sorely missed.”