Griffin Mining Limited (“Griffin” or “the Company”) is delighted to announce continued excellent results from underground diamond drilling at its Caijiaying mine in northern China. The Company conducted a comprehensive program of diamond drilling comprising 190 underground drill holes for 30,244 metres. None of these assays were obtained in time to be included in the announced JORC Resource of the 22nd May 2012. The major results of the drilling program have been summarised in the attached Appendix.
Better gold assays included:
- 37.4 metres @ 6.55 g/t gold & 4.33% zinc
- 35.0 metres @ 5.23 g/t gold & 4.47% zinc
- 28.5 metres @ 3.42 g/t gold & 1.92% zinc
- 13.00 metres @ 7.31 g/t gold & 3.45% zinc
- 11.0 metres @ 8.98 g/t gold & 12.63% zinc
- 9.50 metres @ 7.53 g/t gold & 6.65% zinc
- 8.45 metres @ 6.85 g/t gold & 7.89% zinc
- 7.05 metres @ 7.81 g/t gold & 5.74% zinc
- 7.05 metres @ 7.08 g/t gold & 6.26% zinc
- 6.50 metres @ 5.38 g/t gold & 3.24% zinc
- 6.05 metres @ 4.16 g/t gold & 7.81% zinc
- 5.85 metres @ 6.38 g/t gold & 8.76% zinc
- 5.60 metres @ 11.90 g/t gold & 9.66% zinc
- 4.95 metres @ 8.98 g/t gold
- 4.30 metres @ 9.57 g/t gold & 2.70% zinc
- 4.05 metres @ 6.09 g/t gold & 11.48% zinc
- 4.00 metres @ 20.13 g/t gold & 7.38% zinc
Better zinc assays included:
- 25.40 metres @ 15.50% zinc
- 30.00 metres @ 10.91% zinc
- 26.40 metres @ 6.81% zinc
- 26.20 metres @ 8.47% zinc & 3.74 g/t gold
- 24.90 metres @ 7.50% zinc
- 20.30 metres @ 7.54% zinc
- 17.30 metres @ 9.22% zinc
- 16.40 metres @ 11.04% zinc
- 16.30 metres @ 13.32% zinc & 3.32 g/t gold
- 14.55 metres @ 9.32% zinc & 2.16g/t gold
- 11.00 metres @ 10.21% zinc
High-grade gold mineralization was identified in underground extensions of the Ju Long, Fu Long, Xiao Long and Qing Long ore bodies. In addition to the high-grade gold intersections, Griffin continues to intersect high-grade zinc zones within a wider envelope of medium-grade zinc-gold-lead-silver ore. Drilling will continue during 2012 to further delineate and evaluate the highly prospective corridor of mineralization.
The discovery of this new high-grade gold, zinc, lead and silver mineralization within the Caijiaying ore body can be expected to make a significant and increasing contribution to mine revenue
Chairman’s Statement
Chairman Mladen Ninkov commented, “Even after the production of an exceptional new JORC resource, further new drill results exemplify the ever increasing size of this world class, polymetallic, orebody. The enduring faith of the Company’s shareholders continues to be repaid in abundance. I could not be more delighted for our shareholders.”
APPENDIX
The following table contains all significant underground gold intersections;
| Hole No. | From (metres) | To (metres) | Interval (metres) | Gold (g/t) | Zinc (%) | Lead (%) | Silver (g/t) |
| UGCJY-1981 | 52.80 | 56.60 | 3.80 | 3.53 | 3.72 | 0.50 | 51 |
| UGCJY-1982 | 46.15 | 52.00 | 5.85 | 6.38 | 8.76 | 0.19 | 37 |
| UGCJY-1982 | 61.00 | 67.80 | 6.80 | 2.52 | 6.02 | 0.26 | 51 |
| UGCJY-1982 | 72.15 | 76.70 | 4.55 | 3.52 | 4.63 | 0.10 | 26 |
| UGCJY-1982 | 82.00 | 92.00 | 10.00 | 2.81 | 3.98 | 0.27 | 27 |
| UGCJY-1983 | 100.25 | 102.35 | 2.10 | 6.41 | 13.61 | 0.23 | 86 |
| UGCJY-1983 | 105.50 | 109.20 | 3.70 | 3.00 | 2.97 | 0.01 | 9 |
| UGCJY-1983 | 194.25 | 200.30 | 6.05 | 4.16 | 7.81 | 0.02 | 7 |
| UGCJY-1987 | 49.50 | 57.45 | 7.95 | 2.10 | 4.53 | 0.02 | 11 |
| UGCJY-1988 | 41.70 | 49.65 | 7.95 | 2.41 | 1.01 | 0.01 | 19 |
| UGCJY-1989 | 17.20 | 19.40 | 2.20 | 2.59 | 5.25 | 0.01 | 6 |
| UGCJY-1990 | 78.50 | 83.80 | 5.30 | 2.67 | 6.33 | 0.02 | 7 |
| UGCJY-1992 | 23.70 | 26.50 | 2.80 | 5.23 | 7.80 | 0.87 | 42 |
| UGCJY-1992 | 131.90 | 134.00 | 2.10 | 31.67 | 7.97 | 0.05 | 72 |
| UGCJY-1992 | 177.30 | 181.00 | 3.70 | 10.04 | 3.95 | 0.12 | 38 |
| UGCJY-1993 | 23.10 | 25.30 | 2.20 | 2.96 | 11.29 | 0.31 | 35 |
| UGCJY-1993 | 140.80 | 143.80 | 3.00 | 1.91 | 0.26 | 0.04 | 7 |
| UGCJY-1994 | 18.00 | 20.90 | 2.90 | 1.71 | 9.03 | 0.16 | 35 |
| UGCJY-1994 | 23.30 | 27.35 | 4.05 | 6.09 | 11.48 | 0.33 | 54 |
| UGCJY-1994 | 51.15 | 55.40 | 4.25 | 2.34 | 2.32 | 0.03 | 34 |
| UGCJY-1996 | 33.00 | 41.45 | 8.45 | 6.85 | 7.89 | 0.29 | 40 |
| UGCJY-1997 | 63.25 | 70.75 | 7.50 | 3.63 | 7.27 | 0.17 | 52 |
| UGCJY-1997 | 80.30 | 89.60 | 9.30 | 1.97 | 2.50 | 0.01 | 6 |
| UGCJY-1997 | 106.10 | 110.75 | 4.65 | 1.98 | 4.17 | 0.05 | 20 |
| UGCJY-2001 | 15.40 | 18.00 | 2.60 | 4.78 | 10.65 | 0.01 | 13 |
| UGCJY-2001 | 31.00 | 38.80 | 7.80 | 2.60 | 1.52 | 0.01 | 6 |
| UGCJY-2002 | 14.20 | 18.00 | 3.80 | 3.59 | 6.79 | 0.11 | 43 |
| UGCJY-2003 | 13.40 | 16.20 | 2.80 | 1.66 | 0.73 | 0.01 | 7 |
| UGCJY-2006 | 54.80 | 61.40 | 6.60 | 1.54 | 6.82 | 0.04 | 7 |
| UGCJY-2006 | 91.80 | 94.15 | 2.35 | 1.66 | 7.31 | 0.01 | 6 |
| UGCJY-2014 | 83.90 | 87.00 | 3.10 | 2.67 | 0.90 | 0.87 | 6 |
| UGCJY-2014 | 128.40 | 132.00 | 3.60 | 2.33 | 2.45 | 0.49 | 36 |
| UGCJY-2014 | 135.00 | 138.90 | 3.90 | 2.62 | 3.08 | 1.25 | 24 |
| UGCJY-2015 | 88.60 | 90.60 | 2.00 | 7.66 | 6.54 | 0.07 | 25 |
| UGCJY-2021 | 79.50 | 89.00 | 9.50 | 2.12 | 3.98 | 0.66 | 21 |
| UGCJY-2021 | 98.20 | 103.90 | 5.70 | 1.75 | 2.23 | 0.01 | 9 |
| UGCJY-2021 | 113.15 | 116.20 | 3.05 | 1.29 | 3.08 | 0.03 | 15 |
| UGCJY-2022 | 177.50 | 180.00 | 2.50 | 20.59 | 4.27 | 0.03 | 41 |
| UGCJY-2029 | 0.60 | 4.60 | 4.00 | 20.13 | 7.38 | 0.22 | 87 |
| UGCJY-2032 | 8.20 | 11.20 | 3.00 | 2.13 | 7.31 | 1.32 | 49 |
| UGCJY-2033 | 2.15 | 5.15 | 3.00 | 2.06 | 7.19 | 0.80 | 49 |
| UGCJY-2033 | 15.00 | 18.20 | 3.20 | 1.22 | 12.34 | 0.55 | 62 |
| UGCJY-2041 | 30.50 | 34.50 | 4.00 | 2.10 | 6.04 | 1.36 | 149 |
| UGCJY-2052 | 34.50 | 44.00 | 9.50 | 7.53 | 6.65 | 0.02 | 13 |
| UGCJY-2052 | 138.00 | 140.00 | 2.00 | 1.30 | 2.01 | 0.03 | 9 |
| UGCJY-2056 | 58.90 | 65.95 | 7.05 | 7.81 | 5.74 | 0.06 | 45 |
| UGCJY-2057 | 47.50 | 58.10 | 10.60 | 1.95 | 2.83 | 0.07 | 21 |
| UGCJY-2057 | 65.00 | 102.40 | 37.40 | 6.55 | 4.33 | 0.11 | 49 |
| UGCJY-2057 | 179.30 | 181.85 | 2.55 | 3.90 | 4.97 | 0.01 | 6 |
| UGCJY-2075 | 17.70 | 22.05 | 4.35 | 3.34 | 4.54 | 0.05 | 37 |
| UGCJY-2075 | 26.80 | 30.05 | 3.25 | 2.73 | 4.24 | 0.12 | 38 |
| UGCJY-2077 | 17.60 | 20.05 | 2.45 | 32.23 | 10.46 | 0.05 | 35 |
| UGCJY-2078 | 16.20 | 22.30 | 6.10 | 2.37 | 2.69 | 0.08 | 12 |
| UGCJY-2079 | 42.60 | 45.35 | 2.75 | 10.77 | 5.06 | 0.03 | 37 |
| UGCJY-2081 | 72.70 | 76.90 | 4.20 | 1.17 | 5.35 | 0.85 | 162 |
| UGCJY-2082 | 128.00 | 131.30 | 3.30 | 0.96 | 0.96 | 0.00 | 3 |
| UGCJY-2084 | 47.70 | 50.00 | 2.30 | 2.54 | 4.11 | 0.08 | 15 |
| UGCJY-2084 | 68.25 | 73.85 | 5.60 | 11.90 | 9.66 | 0.04 | 33 |
| UGCJY-2084 | 150.20 | 152.20 | 2.00 | 3.00 | 0.41 | 0.02 | 11 |
| UGCJY-2085 | 46.20 | 52.70 | 6.50 | 5.38 | 3.24 | 0.12 | 20 |
| UGCJY-2085 | 70.50 | 73.02 | 2.52 | 5.90 | 2.23 | 0.01 | 6 |
| UGCJY-2085 | 146.00 | 159.00 | 13.00 | 7.31 | 3.45 | 0.01 | 6 |
| UGCJY-2086 | 48.15 | 54.70 | 6.55 | 3.99 | 4.73 | 0.25 | 17 |
| UGCJY-2086 | 68.50 | 71.65 | 3.15 | 17.79 | 9.40 | 0.08 | 41 |
| UGCJY-2088 | 47.40 | 52.90 | 5.50 | 3.65 | 6.20 | 0.06 | 10 |
| UGCJY-2088 | 166.80 | 169.25 | 2.45 | 28.35 | 4.05 | 0.01 | 16 |
| UGCJY-2089 | 52.20 | 58.70 | 6.50 | 1.74 | 2.66 | 0.04 | 8 |
| UGCJY-2089 | 133.15 | 140.00 | 6.85 | 2.88 | 2.68 | 0.20 | 21 |
| UGCJY-2089 | 186.40 | 192.65 | 6.25 | 4.40 | 2.69 | 0.01 | 5 |
| UGCJY-2090 | 58.00 | 61.00 | 3.00 | 9.20 | 5.94 | 0.25 | 23 |
| UGCJY-2090 | 70.55 | 105.55 | 35.00 | 5.23 | 4.47 | 0.21 | 50 |
| UGCJY-2090 | 170.65 | 175.00 | 4.35 | 5.80 | 3.66 | 0.07 | 30 |
| UGCJY-2099 | 99.30 | 102.30 | 3.00 | 1.56 | 11.14 | 0.01 | 9 |
| UGCJY-2101 | 53.70 | 55.70 | 2.00 | 2.36 | 0.29 | 0.03 | 7 |
| UGCJY-2103A | 54.55 | 56.55 | 2.00 | 9.56 | 5.44 | 0.08 | 13 |
| UGCJY-2103A | 97.00 | 101.95 | 4.95 | 8.98 | 0.13 | 0.14 | 79 |
| UGCJY-2104 | 14.00 | 25.00 | 11.00 | 8.98 | 12.63 | 1.37 | 117 |
| UGCJY-2107A | 22.00 | 27.00 | 5.00 | 1.20 | 5.82 | 0.68 | 34 |
| UGCJY-2110 | 90.30 | 94.30 | 4.00 | 2.47 | 1.76 | 0.08 | 12 |
| UGCJY-2110 | 143.80 | 146.00 | 2.20 | 4.25 | 5.19 | 0.14 | 67 |
| UGCJY-2111 | 195.40 | 199.00 | 3.60 | 2.70 | 1.81 | 0.01 | 5 |
| UGCJY-2113 | 38.80 | 44.45 | 5.65 | 1.99 | 3.51 | 0.04 | 17 |
| UGCJY-2113 | 54.50 | 61.55 | 7.05 | 7.08 | 6.26 | 0.07 | 47 |
| UGCJY-2114 | 39.00 | 67.50 | 28.50 | 3.42 | 1.92 | 0.05 | 29 |
| UGCJY-2114 | 71.50 | 74.50 | 3.00 | 2.62 | 1.20 | 0.01 | 5 |
| UGCJY-2115A | 97.90 | 108.80 | 10.90 | 2.69 | 4.05 | 0.02 | 14 |
| UGCJY-2115A | 121.85 | 132.20 | 10.35 | 1.56 | 1.80 | 0.01 | 4 |
| UGCJY-2115A | 147.40 | 152.10 | 4.70 | 2.39 | 2.48 | 0.02 | 31 |
| UGCJY-2117 | 176.90 | 179.70 | 2.80 | 2.39 | 2.76 | 0.01 | 5 |
| UGCJY-2118 | 44.90 | 47.00 | 2.10 | 26.26 | 12.54 | 0.41 | 36 |
| UGCJY-2118 | 194.40 | 196.90 | 2.50 | 1.61 | 0.89 | 0.06 | 11 |
| UGCJY-2120 | 110.35 | 112.85 | 2.50 | 5.69 | 12.55 | 0.05 | 14 |
| UGCJY-2120 | 121.40 | 137.00 | 15.60 | 1.81 | 1.44 | 0.43 | 39 |
| UGCJY-2120 | 140.80 | 145.10 | 4.30 | 9.57 | 2.70 | 0.09 | 28 |
| UGCJY-2130 | 13.90 | 18.20 | 4.30 | 3.06 | 1.47 | 1.30 | 30 |
| UGCJY-2138 | 40.90 | 43.20 | 2.30 | 5.53 | 5.21 | 0.15 | 79 |
| UGCJY-2138 | 83.50 | 88.00 | 4.50 | 1.65 | 2.97 | 0.04 | 14 |
| UGCJY-2143 | 39.30 | 45.60 | 6.30 | 1.60 | 5.34 | 0.42 | 52 |
1g/t gold cut-off with a maximum of 2m of internal dilution and a minimum length of 2m.
The following table contains all significant underground zinc intersections;
| Hole No. | From (metres) | To (metres) | Interval (metres) | Zinc (%) | Lead (%) | Silver (g/t) | Gold (g/t) |
| UGCJY-1982 | 72.15 | 83.30 | 11.15 | 4.36 | 0.14 | 20 | 1.70 |
| UGCJY-1986 | 61.00 | 72.00 | 11.00 | 10.21 | 0.23 | 28 | 0.40 |
| UGCJY-1994 | 12.80 | 27.35 | 14.55 | 9.32 | 0.27 | 36 | 2.16 |
| UGCJY-1996 | 31.00 | 44.80 | 13.80 | 7.99 | 0.20 | 29 | 4.53 |
| UGCJY-2006 | 54.80 | 65.30 | 10.50 | 7.63 | 0.15 | 11 | 1.15 |
| UGCJY-2006 | 67.40 | 78.00 | 10.60 | 8.99 | 0.02 | 10 | 0.49 |
| UGCJY-2021 | 75.30 | 86.75 | 11.45 | 4.07 | 0.55 | 19 | 1.56 |
| UGCJY-2022 | 147.60 | 173.00 | 25.40 | 15.50 | 0.09 | 22 | 0.18 |
| UGCJY-2022 | 178.85 | 196.10 | 17.25 | 6.40 | 0.07 | 40 | 2.95 |
| UGCJY-2023 | 111.00 | 121.90 | 10.90 | 7.47 | 0.23 | 20 | 0.34 |
| UGCJY-2040 | 25.00 | 37.00 | 12.0 | 6.11 | 0.98 | 75 | 0.08 |
| UGCJY-2041 | 20.30 | 38.50 | 18.2 | 7.25 | 1.26 | 100 | 0.89 |
| UGCJY-2044 | 62.90 | 79.20 | 16.3 | 13.32 | 0.30 | 59 | 3.21 |
| UGCJY-2044 | 81.70 | 111.70 | 30.0 | 10.91 | 0.48 | 44 | 0.21 |
| UGCJY-2045 | 127.20 | 139.80 | 12.6 | 7.03 | 0.21 | 23 | 0.64 |
| UGCJY-2052 | 152.10 | 178.50 | 26.4 | 6.81 | 0.37 | 15 | 0.36 |
| UGCJY-2053 | 143.30 | 153.30 | 10.0 | 5.46 | 0.10 | 11 | 0.64 |
| UGCJY-2057 | 65.00 | 77.00 | 12.0 | 8.62 | 0.23 | 107 | 12.63 |
| UGCJY-2058 | 54.95 | 66.50 | 11.6 | 5.93 | 0.58 | 91 | 0.69 |
| UGCJY-2061 | 99.15 | 110.20 | 11.1 | 5.38 | 0.40 | 30 | 0.19 |
| UGCJY-2076 | 45.80 | 58.00 | 12.2 | 6.10 | 0.01 | 6 | 0.38 |
| UGCJY-2083 | 152.00 | 176.90 | 24.9 | 7.50 | 0.55 | 28 | 0.36 |
| UGCJY-2090 | 70.55 | 84.50 | 14.0 | 6.18 | 0.23 | 78 | 7.91 |
| UGCJY-2090 | 87.50 | 99.10 | 11.6 | 4.21 | 0.19 | 36 | 4.09 |
| UGCJY-2091 | 96.50 | 113.80 | 17.3 | 9.22 | 0.32 | 38 | 0.27 |
| UGCJY-2098 | 70.70 | 81.90 | 11.2 | 8.07 | 0.08 | 20 | 0.07 |
| UGCJY-2099 | 86.15 | 106.45 | 20.3 | 7.54 | 0.04 | 13 | 0.41 |
| UGCJY-2106 | 95.00 | 107.50 | 12.5 | 5.52 | 0.41 | 25 | 0.13 |
| UGCJY-2109 | 131.70 | 147.30 | 15.6 | 14.70 | 0.28 | 56 | 0.14 |
| UGCJY-2119 | 62.70 | 88.90 | 26.2 | 8.47 | 0.56 | 58 | 3.74 |
| UGCJY-2131 | 55.15 | 71.50 | 16.4 | 11.04 | 0.40 | 40 | 0.28 |
| UGCJY-2139 | 26.45 | 37.50 | 11.1 | 6.39 | 0.30 | 73 | 0.09 |
| UGCJY-2143 | 34.95 | 45.60 | 10.7 | 6.90 | 0.52 | 69 | 1.17 |
| UGCJY-2158 | 74.00 | 86.05 | 12.1 | 6.42 | 0.15 | 34 | |
| UGCJY-2160 | 47.00 | 57.50 | 10.5 | 6.32 | 0.05 | 11 | |
| UGCJY-2179 | 163.50 | 182.25 | 18.8 | 6.30 | 0.64 | 57 |
Using a 3% zinc cut-off with 2m of internal dilution and a minimum length of 10m.
Competent Person Statement
The data in this report that relates to exploration results for the Caijiaying Area, China, is based on information reviewed by Mr Nigel Wilson who is a Member of the Australian Institute of Geoscientists. Mr Wilson is a full time employee of CSA Global Limited. Mr Wilson has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Wilson consents to the inclusion in the report of the exploration results in the form and context in which they appear.
