Griffin Mining Ltd (“the Company”) announces that on 29th December 2010 it purchased 50,000 of the Company’s own ordinary shares (“Ordinary Shares”) at a price of 69p per share. The Ordinary Shares have been purchased for cancellation (the “Purchase and Cancellation”).

The purchase represented 0.03% of the Company’s issued share capital before the Purchase and Cancellation and was pursuant to the byelaws of the Company and a resolution passed by the directors.

Following the cancellation of these Ordinary Shares there will be 180,608,496 Ordinary Shares in the Company in issue. There are no shares held in treasury.