PROGRESS STATEMENT ON THE RE-OPENING OF CAIJIAYING MINE OPERATIONS

Progress Statement on the Re-opening of Caijiaying Mine Operations

 

4^th March 2022

 

Griffin Mining Limited (“Griffin” or the “Company”) announces, further, and consistent with, the announcement of 31^stDecember 2021, that all staff and contractors are scheduled to return to the Caijiaying Mine and that underground mining operations are scheduled to recommence, on the 15^th March 2022. The processing facilities will be initiated shortly thereafter. Underground drilling at both Zones II & III will begin earlier than planned on the 7^th March 2022.

 

Chairman Mladen Ninkov commented, “I am grateful to all our professional staff, employees and contractors in keeping to the scheduled re-start of operations announced by the Company late last year. This is even more critical in light of the spot zinc price trading over $4,000 tonne, the highest price in over 15 years, and the significantly positive effect that will have on the cash generated by our operations.”

 

About Griffin Mining Limited 

 

Griffin Mining Limited’s shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange (symbol GFM). Griffin Mining Limited owns and operates through its 88.8% owned Joint Venture in China  the Caijiaying Zinc Gold Mine, a profitable mine producing zinc, gold, silver, and lead metals in concentrates. For more information, please visit the Company’s website giffinmining.com.

 

Further information

Griffin Mining Limited                         Telephone: +44(0)20 7629 7772

Mladen Ninkov – Chairman

Roger Goodwin – Finance Director

Panmure Gordon (UK) Limited                        Telephone: +44 (0)20 7886 2500

John Prior

Alisa MacMaster

Berenberg                                Telephone: +44(0)20 3207 7800

Matthew Armitt

Jennifer Wyllie

Deltir Elezi

Blytheray                       Telephone: +44(0)20 7138 3205

Tim Blythe